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Wells Fargo profit beats as reserve release blunts hit from weak mortgage lending
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BlackRock expects 75% of company and govt assets to be net zero-aligned by 2030
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Britain will have enough gas this summer, National Grid says
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Freerunner Jason Paul takes a wild ride on a wooden roller coaster
Aviva, Lloyds join British FloodRe insurance scheme to build flood resilience
Date: April 14, 2022
LONDON (Reuters) – Five insurers including Aviva and Lloyds Banking Group have joined a programme set up by Britain’s FloodRe to give homeowners extra funds to build up resilience to floods, FloodRe said on Thursday. The insurers will offer customers access to reimbursement costs of up to 10,000 pounds ($13,137) over and above the cost...
Hermes upbeat on China as strong U.S., European demand buoys sales
Date: April 14, 2022
By Mimosa Spencer PARIS (Reuters) -Sales at Birkin bag maker Hermes beat estimates in the first quarter, lifted by strong appetite for its luxury accessories, particularly in the United States and Europe, as the sector powers through turbulence from the war in Ukraine and COVID lockdowns in China. Hermes, which also sells silk scarves and...
FTSE 100 slips as stronger pound, energy stocks weigh
Date: April 14, 2022
By Devik Jain (Reuters) -London’s FTSE 100 slipped on Thursday and was on track to snap five straight weeks of gains, as energy stocks declined and a stronger pound hit large dollar-earning companies, while Wizz Air jumped after issuing a positive travel outlook. The blue-chip FTSE 100 fell 0.2%, with oil majors BP and Shell...
Ericsson warns likely to be fined over Iraq scandal, reports profit slump
Date: April 14, 2022
By Supantha Mukherjee STOCKHOLM (Reuters) – Swedish telecom provider Ericsson said on Thursday it would likely be fined by U.S. regulators for its handling of a bribery investigation in Iraq and reported a slide in quarterly earnings due to its suspension of business in Russia. The company disclosed in February that an internal investigation had...
UK watchdog to reclaim powers to ban auditors
Date: April 14, 2022
LONDON (Reuters) – Britain’s accounting watchdog will reclaim powers to ban auditors under proposals announced on Thursday. The powers were previously delegated by government to professional accounting bodies such as the ICAEW at a time when the Financial Reporting Council (FRC) was a small watchdog with much fewer resources. But after corporate collapses at builder...
Fearing high inflation, ECB to stay on course to unwind stimulus
Date: April 14, 2022
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -The European Central Bank may outline on Thursday a clearer schedule for unwinding its extraordinary stimulus, as worries over record-high inflation trump concerns about a war-related recession. The ECB has been reducing the pace of its money-printing programme for months but it has so far avoided committing...