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European stocks hits third-straight weekly loss as yields surge
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EU leaders resolve to boost economic security amid global tension
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Analysis-Is the US strategy of engaging China working?
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Renault brings in Volvo, CMA CGM for electric van project
US FDA still not satisfied with Philips recall; stock falls over 9%
Date: October 6, 2023
US FDA still not satisfied with Philips recall; stock falls over 9% By Toby Sterling and Piotr Lipinski AMSTERDAM (Reuters) -The U.S. Food and Drug Administration (FDA) said it is still not satisfied with how Dutch healthcare technology company Philips has handled a major product recall and the company should conduct additional risk testing. Its...
ECB’s Schnabel can’t rule out more hikes amid inflation risks
Date: October 6, 2023
ECB’s Schnabel can’t rule out more hikes amid inflation risks FRANKFURT (Reuters) -The European Central Bank may need to raise interest rates again if wages, profits or new supply snags boost inflation, ECB board member Isabel Schnabel said in an interview published on Friday. The ECB raised borrowing costs to record highs last month to...
GSK raises $1.1 billion from Haleon stake sale
Date: October 6, 2023
GSK raises $1.1 billion from Haleon stake sale (Reuters) -British drugmaker GSK on Friday said it raised 885.6 million pounds ($1.08 billion) from a stake sale in Haleon, bringing down its shareholding to 7.4% in the world’s largest standalone consumer healthcare firm. The sale of 270 million shares at 328 pence apiece, represented a discount...
UK’s J D Wetherspoon posts higher sales on resilient demand
Date: October 6, 2023
UK’s J D Wetherspoon posts higher sales on resilient demand (Reuters) -British pub group J D Wetherspoon said on Friday sales in the first nine weeks of its financial year rose nearly 10% on strong demand for its lower-than-average priced drinks and food amid a cost-of-living crisis. Resilient customer spending has helped the UK hospitality...
Norway plans resource tax on onshore wind farms
Date: October 6, 2023
Norway plans resource tax on onshore wind farms OSLO (Reuters) – Norway will introduce a resource rent tax on onshore wind power from 2024, although existing facilities will get “generous transitional arrangements”, the government said on Friday. “The proposal will ensure that a larger share of the value added in the wind power industry will...
Finnair to raise $632 million to shore up finances
Date: October 6, 2023
Finnair to raise $632 million to shore up finances STOCKHOLM (Reuters) -Finnish airline Finnair said on Friday it planned to raise up to 600 million euros ($632 million) in a rights issue to shore up its finances and allow it to resume dividend payments from 2025. The Nordic country’s national carrier has been launching new...