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Even in crisis, Germany extends power exports to neighbours
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British shoppers defy cost-of-living crisis at Christmas
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Amazon CEO says job cuts to exceed 18,000 roles
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multilocal continues hiring spree following increasing demand for its services
UK’s Prince Harry declines to commit to attending King Charles’ coronation
Date: January 5, 2023
LONDON (Reuters) – Prince Harry declined to commit to going to the coronation of his father King Charles, according to a clip from an upcoming interview with broadcaster ITV, adding that staying silent about his issues with the British royal family would not help matters. Harry, the younger son of King Charles, has recorded two...
Britain’s Next sees lower profit in 2023 as consumer outlook darkens
Date: January 5, 2023
By James Davey LONDON (Reuters) – British clothing retailer Next forecast lower profit in its 2023-24 year, reflecting uncertainty over whether consumers would keep spending during a recession and as the group’s costs rise. Next trades from about 500 stores and online and is often considered a gauge of how British consumers are faring. It...
Walmart paid most of $1 billion tax for PhonePe shifting base to India
Date: January 5, 2023
By Nandan Mandayam BENGALURU (Reuters) – Walmart Inc late on Wednesday confirmed that it had already paid the Indian government most of the nearly $1 billion in tax owed after digital payments company PhonePe, which the U.S. retailer owns through Flipkart, shifted its headquarters from Singapore to India. Walmart bought a controlling stake in Indian...
With big bets on Musk, these funds may have a Tesla problem in ’23
Date: January 5, 2023
By David Randall NEW YORK (Reuters) – Tesla Inc’s steep sell-off is proving to be an ongoing nightmare for fund managers that have bet heavily on the Elon Musk-led electric vehicle manufacturer. Overall, 50 actively-managed U.S. equity funds have more than 5% of their assets in the company, exceeding the barrier that many portfolio managers...
UK car sales hit 30-year low in 2022, but could grow 15% this year – SMMT
Date: January 5, 2023
By Nick Carey LONDON (Reuters) – British new car sales fell to their lowest level since 1992 last year as manufacturers struggled against pandemic-related parts shortages, but could grow 15% in 2023 as those supply-chain issues ease, an industry body said on Thursday. The Society of Motor Manufacturers and Traders (SMMT) said that according to...
UK’s December shopper numbers defy inflation and rail strikes hit
Date: January 5, 2023
LONDON (Reuters) – Shopper numbers across Britain in December rose 5.8% from November and were up 9.9% compared to 2021 despite the impact of the cost-of-living crisis and national rail strikes, research company Springboard said on Thursday. It said the gap to pre-pandemic levels also narrowed, with December shopper numbers, or footfall, 10.9% below 2019...