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Morning Bid: US clears inflation decks, NZ cut surprises
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NHTSA closes preliminary evaluation of front suspension failure in Tesla vehicles
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RWE bullish on U.S. market regardless of election outcome
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Aviva tops earning forecasts on home, motor insurance price rises
German property bank PBB’s profit plunges as US office loans sour
Date: August 14, 2024
By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Deutsche Pfandbriefbank (PBB), one of Germany’s top property financiers, reported on Wednesday a 74% plunge in second-quarter profit and set aside more money to cover potential bad loans in a weak U.S. office market. The move follows a wave of bad news this year for the...
Sterling rises after UK unemployment rate unexpectedly falls
Date: August 13, 2024
By Harry Robertson LONDON (Reuters) -The pound rose on Tuesday after data showed Britain’s unemployment rate unexpectedly fell in June, although wage growth slowed. Figures showed the UK jobless rate dropped to 4.2% in June, down from 4.4% in May – defying expectations for a small rise. Sterling was last up 0.22% at $1.2794,...
UK’s Just Group beats first-half profit estimate as demand for pension insurance soars
Date: August 13, 2024
By Yadarisa Shabong (Reuters) -Just Group’s first-half profit beat estimates on Tuesday, and the British insurer now expects full-year earnings to surpass its previous expectations on demand for pension insurance, sending shares up as much as 18% in early trading. The stock hit its highest since June 2018 on Tuesday at 139 pence after...
Telecom Italia sells INWIT stake to Ardian for 250 million euros
Date: August 13, 2024
MILAN (Reuters) -Telecom Italia (TIM) has struck a deal worth 250 million euros ($273 million) to sell its indirect holding in Italian telecoms tower company INWIT to a consortium led by French infrastructure fund Ardian. The former Italian phone monopoly said on Tuesday that proceeds from the sale were not factored into its 2024...
Top VW investor Porsche SE eyes further investments
Date: August 13, 2024
FRANKFURT (Reuters) -Porsche SE, the controlling shareholder in German automaker Volkswagen, is financially in a position to consider further investments to diversify its portfolio, its finance chief said alongside first-half results on Tuesday. “Our financial resources give us considerable flexibility for potential investments in further core and portfolio investments,” Johannes Lattwein, Porsche SE’s board...
Leasing model behind Europe’s EV drive at risk of breakdown
Date: August 13, 2024
By Nick Carey LONDON (Reuters) – Low resale values for electric cars have pushed the leasing firms that drive Europe’s auto market to double prices over the last three years and some are threatening to quit the business altogether if regulators force them to go electric too fast, industry executives say. The jump in...