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Oil tops $105/bbl after Russia attacks Ukraine
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Global fund managers take fright at Russian invasion
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German bonds rally as investors seek safe haven after Ukraine invasion
Boots in store for $10-billion sale as bid deadline looms
Date: February 24, 2022
By Pamela Barbaglia LONDON (Reuters) – Britain’s largest drugstore chain Boots has set a Feb. 24 deadline to receive indicative bids from a series of deep-pocketed investors that could value the 173-year-old firm at up to 8 billion pounds ($10.88 billion), two sources told Reuters. The sale will see U.S. drugstore giant Walgreens, which has backed...
Explainer-Why Europe’s mobile telecom market is ripe for consolidation
Date: February 24, 2022
By Supantha Mukherjee and Elvira Pollina STOCKHOLM/MILAN (Reuters) – Talk of consolidation among European mobile carriers has grown louder with several executives voicing support as cut-throat price wars drive up debt and limit funds for 5G network upgrades. While Spain’s Telefonica has been raising the topic of mergers for years, it has been joined only...
Barclays boosts investor payouts after record annual profit
Date: February 24, 2022
By Lawrence White and Iain Withers LONDON (Reuters) -Barclays reported a record annual profit for 2021 and returned 2.5 billion pounds to shareholders via dividends and buybacks, as bad loan charges plunged and its investment bank continued its strong recent performance. The British lender on Wednesday reported a pretax profit of 8.4 billion pounds ($11.42 billion),...
Finland’s Stora eyes billion-euro investment in plastic-free packaging
Date: February 24, 2022
By Anne Kauranen HELSINKI (Reuters) – Finland’s Stora Enso is considering an investment of up to 1 billion euros ($1.13 billion) to produce more consumer packaging board as customers increasingly seek renewable materials over plastic, the forestry company said on Wednesday. It said customers such as food group Nestle or online fashion retailer Zalando are responding...
Stocks regroup as investors hold their breath on Ukraine
Date: February 23, 2022
By Tom Westbrook SINGAPORE (Reuters) – Asian stocks steadied on Wednesday and demand for safe-havens waned a little as investors regarded Russian troop movements near Ukraine and initial Western sanctions as leaving room to avoid a war, while a rate hike lifted New Zealand’s dollar. Commodity prices remain elevated, however, and traders are still nervous over...
Britain to unlock ‘billions of pounds’ by easing insurance capital rules
Date: February 22, 2022
By Huw Jones LONDON (Reuters) – Britain will unlock “tens of billions of pounds” of insurance sector capital that should boost the economy through infrastructure investment, financial services minister John Glen said on Monday. The six-year old ‘Solvency II’ capital requirements were inherited from the European Union when Britain left the bloc’s orbit at the end...