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European carmakers should wean off fossil fuels by 2040, Audi chief says
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Holcim shares surge after guidance upgrade and earnings beat
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Scholz says top priority is avoiding NATO confrontation with Russia
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Pound tumbles to 18-mth low as retail sales, consumer confidence slump
UK economy stumbles as consumers, firms brace for downturn
Date: April 22, 2022
By Andy Bruce and William Schomberg LONDON (Reuters) – Britain’s economy is losing steam as households face a tightening cost-of-living squeeze, according to data published on Friday which showed sliding retail sales and consumer confidence approaching all-time lows. The pound slid by more than a cent to fall below $1.29 for the first time since...
Analysis-Musk tears up buyout playbook with $46.5 billion Twitter financing
Date: April 22, 2022
By Krystal Hu and Anirban Sen (Reuters) – It is the biggest acquisition financing ever put forward for one person. Elon Musk is doing it his way. More than two-thirds of the $46.5 billion financing package that Musk unveiled on Thursday in support of his bid for Twitter Inc would come from his assets, with...
Two-speed euro zone economy as services shine, factories struggle -PMI
Date: April 22, 2022
By Jonathan Cable LONDON (Reuters) -Euro zone business growth unexpectedly accelerated this month, with the bloc’s dominant services sector seeing a sharp increase in activity as consumers shrugged off soaring prices, a survey showed. Manufacturers, however, struggled as supply chain disruptions caused by the pandemic have been exacerbated by Russia’s invasion of Ukraine and renewed...
UK business stumbles on inflation and Ukraine war worries -PMI
Date: April 22, 2022
LONDON (Reuters) – Britain’s private sector suffered a sharp slowdown this month as high inflation and the conflict in Ukraine weighed on the country’s giant services sector, a survey published on Friday showed. The preliminary S&P Global/CIPS composite Purchasing Managers’ Index (PMI) dropped to a three-month low of 57.6 in April from 60.9 in March....
SAP flags hit from Russia exit, revenue growth beats estimates
Date: April 22, 2022
By Supantha Mukherjee STOCKHOLM (Reuters) – German business software group SAP on Friday flagged a 300 million euro ($325.3 million) hit to sales from its planned exit from Russia, after strength in its cloud business helped it beat first-quarter revenue estimates. It said the plans to quit Russia announced earlier this week will have a...
UK stocks fall on hawkish cenbanks, weak retail sales data
Date: April 22, 2022
By Devik Jain (Reuters) -UK shares fell on Friday as the growing prospect of aggressive monetary policy tightening coupled with a sharp drop in retail sales in the country, sparked concerns about economic growth. The blue-chip FTSE 100 index slipped 0.6% and domestically focused mid-cap FTSE 250 index declined 0.5%. Retailers tumbled 1.6% as data...