LONDON (Reuters) -Bank of England Governor Andrew Bailey and British finance minister Rachel Reeves have raised the prospect of the BoE making money from its new system for providing reserves to banks after racking up huge losses from its bond-buying programme. The BoE has increasingly used its repo facilities as it sells down the holdings …
UK’s Reeves and Bailey hope repo system will make money for BoE Read More »
LONDON (Reuters) – Iceland launched the sale of nearly half of its 45.2% stake in Islandsbanki on Tuesday, as its finance minister told Reuters that recent global market turmoil has not dented investor interest in the country. Bookrunners put a 20% stake in the lender on sale on behalf of the government on Monday in …
Iceland launches Islandsbanki sale in push to clear 2008 crisis legacy Read More »
LONDON (Reuters) – Tesco, Britain’s biggest supermarket group, has no plans to source American beef despite last week’s U.S.-UK trade deal giving the product access to the UK market. The deal gave U.S. farmers a quota of 13,000 metric tonnes for beef which meets UK standards, with UK farmers having the same quota for sales …
Britain’s Tesco has no plans to source American beef Read More »
(Reuters) -Volkswagen’s CFO expects the carmaker’s new product launches in China to start improving its performance in the battery-electric vehicle segment by the third quarter of 2026, he said in an interview with the Financial Times on Tuesday. “By then, we will reengage in the market with great products, with a really good cost base,” …
Volkswagen to ‘re-engage’ in China EV market by third quarter of 2026, CFO tells FT Read More »
By Linda Pasquini (Reuters) -Sterling recovered some ground against the dollar on Tuesday after weakening in the previous session, when the United States and China said they had temporarily cut reciprocal tariffs following negotiations over the weekend. The U.S. and China have agreed to temporarily slash tariffs in a deal that surpassed expectations, and the …
Sterling recovers some lost ground against the dollar Read More »
By Alexander Hübner, Sabine Siebold and Christoph Steitz MUNICH/BERLIN/FRANKFURT (Reuters) -Franco-German defence firm KNDS has filed a lawsuit against Triton Partners in an attempt to force the private equity group to sell its shares in German tank gearbox maker Renk, sources familiar with the transaction told Reuters on Tuesday. KNDS earlier this year exercised an …
KNDS files lawsuit against Triton over sale of Renk shares, sources say Read More »
PARIS (Reuters) -BNP Paribas shareholders approved on Tuesday the renewal of Jean-Laurent Bonnafe’s mandate as board director, paving the way for him to remain CEO of the French bank until 2028. Shareholders approved BNP’s related sixth resolution with 99.16% voting in favour. Investors are also voting on a separate resolution to raise the age …
BNP Paribas shareholders approve renewal of Bonnafe’s mandate as board director Read More »
(Reuters) – Italy’s Newlat Food has signed an exclusive agreement to buy a plant in northern Italy from the world’s biggest spirits producer Diageo, it said on Tuesday. In a separate statement late on Monday, Italy’s industry ministry said Newlat had presented a binding offer for the factory, with pledges to retain its 349 workers, …
Newlat Food to buy plant in northern Italy from Britain’s Diageo Read More »
LONDON (Reuters) -Bank of England Chief Economist Huw Pill said on Tuesday that he was worried that inflation in Britain could prove stronger than expected by the central bank and interest rates might need to stay higher than investors are thinking. Pill said inflation might be hard to get back to the BoE’s 2% target …
Bank of England’s Pill says interest rates might need to stay high Read More »
By Maria Martinez BERLIN (Reuters) -German investor morale rose more than expected in May, recovering from its sharp decline the previous month, the ZEW economic research institute said on Tuesday. The economic sentiment index rose to 25.2 points from -14.0 points in April. Analysts polled by Reuters had pointed to a reading of 11.9. “With …
German investor morale brightens more than expected in May, ZEW finds Read More »
