MADRID (Reuters) – Spanish telecom giant Telefonica will offer its employees the opportunity to work a four-day week, extending a pilot programme that has involved around 150 workers so far, three sources familiar with the matter said on Wednesday. In …
Flights cancelled in Italy as workers at low-cost carriers strike
MILAN (Reuters) – Travellers faced disruption across Italy on Wednesday as crews from Ryanair, easyJet and Volotea went on strike, coinciding with a stoppage by air traffic controllers and prompting the cancellation of hundreds of flights. Around 360 f…
Surge in euro zone wages may be less than meets the eye
FRANKFURT (Reuters) – Euro zone wages are climbing after a lost decade but some pay rises may prove fleeting as employers across the bloc opt to give one-off bonuses rather than permanent increases against an uncertain outlook for growth and inflation….
Shares waver as sentiment ebbs on rate fears, yields rise
By Herbert Lash NEW YORK (Reuters) – European stocks slid and U.S. shares wavered on Wednesday as the outlook for rate hikes sullied sentiment, while bond yields rose after euro zone gross domestic product beat expectations, adding to bets of a more ha…
The F-word appears at a papal audience, but for a good cause
By Philip Pullella VATICAN CITY (Reuters) – The F-word made its debut at a papal general audience on Wednesday but there was no alarm and those who were brandishing it were given VIP treatment. About 30 Italians wearing red T-shirts bearing the words “…
OECD slashes growth outlook, but sees limited stagflation risk
PARIS (Reuters) – The war in Ukraine has made the growth outlook far bleaker even though the global economy should avoid a bout of 1970s-style stagflation, the OECD said on Wednesday, slashing its growth forecasts and jacking up its inflation estimates…
UK house-building slows to weakest since May 2020 – PMI
By David Milliken LONDON (Reuters) – Construction of new homes in Britain almost ground to a halt last month as builders feared the cost-of-living squeeze and rising interest rates would constrain demand, a closely watched survey showed on Wednesday. M…
Traders price in 75 bps of ECB rate hikes by September
(Corrects paragraph 9 to say spread rose above 220 bps earlier this week, not on Tuesday) By Yoruk Bahceli (Reuters) – Money markets ramped up their bets on European Central Bank (ECB) interest rate rises on Wednesday to price in 75 basis points (bps) …
Russian forces pile pressure on Ukrainian defenders in key eastern city
By Pavel Polityuk and Abdelaziz Boumzar KYIV/SLOVIANSK, Ukraine (Reuters) -Ukrainian troops holding out in the ruins of Sievierodonetsk came under renewed heavy assault on Wednesday from Russian forces who see the capture of the industrial city as key …
Wizz Air says airline suffering major costs from chaos at airports
By Yadarisa Shabong and Pushkala Aripaka (Reuters) -Wizz Air said on Wednesday it was suffering significant costs from cancellations and “operational hiccups” at airports, especially in the United Kingdom, as the industry tackles a shortage of air traf…