LONDON (Reuters) – Internal audits at Renault have shown strong potential for the French carmaker’s plans to separate its electric vehicle unit from its traditional fossil-fuel car operations, chief executive Luca de Meo said on Wednesday. Speaking at …
Bank of England faces fine balance when setting rates -Tenreyro
By David Milliken LONDON (Reuters) -The Bank of England will face a tricky balancing act when it considers future interest rate rises, because of the hit to people’s disposable income being dealt by surging inflation, BoE policymaker Silvana Tenreyro s…
Britain’s JD Sports’s ousts executive chairman Cowgill
LONDON (Reuters) – Britain’s biggest sportswear retailer, JD Sports Fashion, on Wednesday ousted longstanding executive chairman Peter Cowgill, saying its internal governance and controls had not kept pace with the firm’s growth. The FTSE-100 group sai…
Johnson takes responsibility but won’t quit over lockdown parties
By Elizabeth Piper and Muvija M LONDON (Reuters) -A “humbled” Boris Johnson said he took full responsibility but would not quit after a damning official report on Wednesday detailed a series of illegal lockdown parties at the British leader’s Downing S…
UK government to set out details of cost of living support on Thursday -spokesperson
LONDON (Reuters) – British Finance Minister Rishi Sunak will set out more details on Thursday of the government’s response to growing cost of living pressures facing households, a spokesperson for his department said. “The Chancellor was clear that as …
Paris prosecutor rejects call to investigate minister accused of rape
By Elizabeth Pineau PARIS (Reuters) – The Paris prosecutor’s office said on Wednesday it would not at this stage open a probe against an embattled new minister targeted by rape allegations, in a case that has overshadowed the start of French President …
Oil edges higher on tight supply, rising U.S. refining activity
By David Gaffen New York (Reuters) – Oil prices rose on Wednesday, buoyed by tight supplies and as U.S. refiners drove processing activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July settled up 47 …
European shares lifted by banks, commodity stocks ahead of Fed
By Susan Mathew (Reuters) -European shares rose on Wednesday, lifted by resource-linked stocks and banks, with investors watching for updates from central banks on monetary policy tightening amid rising concerns of an economic slowdown. The pan-Europea…
UK to set out new support to tackle cost-of-living pressures, funded by windfall tax
LONDON (Reuters) -British finance minister Rishi Sunak will set out more details on Thursday of the government’s response to the growing cost-of-living pressures facing households, a spokesperson for his department said. This is expected to include a 1…
Putin hikes Russian pensions, plays down Ukraine impact on economy
LONDON (Reuters) – President Vladimir Putin ordered 10% rises on Wednesday in pensions and the minimum wage to cushion Russians from inflation, but denied the country’s economic problems were all linked to the war in Ukraine. With annual inflation near…