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Business
More HSBC senior managers to go as CEO continues overhaul
Business
Volkwagen’s German plants must get more efficient, CFO says
Business
German Christmas markets get creative as prices hit new highs
Business
Exclusive-As tariffs loom, Gillette-razor maker P&G sourcing more steel from India
‘Kicked in the face’: Frasers blames UK budget for profit downgrade
Date: December 5, 2024
By James Davey LONDON (Reuters) -Major British retailer Frasers said it felt “kicked in the face” by the government’s tax hiking budget, blaming it for a drop in consumer confidence that forced a cut to annual profit guidance. Shares in Frasers, formerly called Sports Direct and majority owned by Mike Ashley, plunged 12% on Thursday...
Over half UK firms plan to raise prices, cut jobs after budget, BoE survey shows
Date: December 5, 2024
LONDON (Reuters) -More than half of British employers plan to raise their prices and cut jobs in response to the new government’s first budget, according to a survey published by the Bank of England on Thursday. Almost 60% of firms expected to lower their profit margins to cope with an increase in social security contributions...
UK electric vehicle sales surge 58% YOY in Nov, industry data shows
Date: December 5, 2024
(Reuters) -New battery electric vehicle (BEV) sales in UK rose 58% in November, marking the eleventh straight month of growth, industry data showed, driven by deep discounts to meet government-mandated levels. However, overall new car sales for the month fell 1.9% from a year ago to 153,610 units, due to waning demand among private buyers,...
German job market continues losing steam, labour institute says
Date: December 5, 2024
BERLIN (Reuters) – Job vacancies in Germany have been on a downward trend for two years, showing a decline in labour demand that reflects the economic slowdown in Europe’s biggest economy, according to data from an economic institute released on Thursday. In the third quarter, there were 1.28 million job vacancies, down from a record...
UK construction grows but house-building decline steepens, PMI shows
Date: December 5, 2024
LONDON (Reuters) – Activity in Britain’s construction industry picked up in November but growth was lopsided, according to an industry survey that showed weaker residential house-building which is sensitive to high interest rates. The S&P Global/CIPS UK Purchasing Managers’ Index for the construction industry came in at 55.2 last month, up from October’s 54.3. Robust...
Britain approves $19 billion Vodafone-Three mobile merger
Date: December 5, 2024
By Paul Sandle LONDON (Reuters) -Britain on Thursday approved the $19 billion merger between Vodafone UK and Hutchison’s Three UK to create the country’s biggest mobile operator and reduce the number of networks to three from four. The Competition and Markets Authority had previously said the deal could push up customer prices, but it later...