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EU demands quick fix from U.S. of green subsidy law
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Cost-of-living crisis casts shadow over Europe’s Black Friday
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IKEA stores owner Ingka’s annual operating profit rises 9%
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UK budget fashion chain Primark to invest 140 million stg in stores
UK energy regulator drops plan to ring fence customers’ cash
Date: November 25, 2022
LONDON (Reuters) -British energy regulator Ofgem on Friday dropped a planned requirement for suppliers to ring fence customer credit balances, allowing them to continue investing the capital as it seeks to find ways to protect the industry from market shocks. The watchdog is still proposing a requirement for suppliers to hold capital reserves and will...
Cost-of-living crisis casts shadow over Europe’s Black Friday
Date: November 25, 2022
By James Davey LONDON (Reuters) -Europe’s retailers are hoping Black Friday discount day will get shoppers spending, though it takes place against a backdrop of a worsening cost-of-living crisis and the distraction of the soccer World Cup. Retailers across Europe fear the overall Christmas trading season could be the worst in at least a decade...
Dollar set for weekly loss amid expectations Fed will slow hikes
Date: November 25, 2022
By Rae Wee and Joice Alves SINGAPORE/LONDON (Reuters) – The U.S. dollar hovered near a three-month low on Friday and was headed for a weekly loss, as the prospect of the Federal Reserve slowing monetary policy tightening as soon as December preoccupied investors. The euro edged up after the GfK institute survey showed German consumer...
Atlantia exit highlights Milan’s battle to retain market heavyweights
Date: November 25, 2022
By Elisa Anzolin MILAN (Reuters) – The buyout of Atlantia will cut another 19 billion euros ($19.5 billion) from the value of the Milan bourse and bring to 12 the number of companies to leave the stock exchange this year, fuelling fears about its standing. Legislators and regulators want to reverse the trend and reinforce...
Exclusive: Foxconn woes could hit at least 30% of iPhone Nov shipments from China plant – source
Date: November 25, 2022
TAIPEI (Reuters) – Production of Apple Inc’s iPhones could slump by at least 30% at Foxconn’s factory in China’s city of Zhengzhou after worker unrest disrupted operations, a person with direct knowledge of the matter told Reuters on Friday. The estimate was an upward revision of an October internal forecast for production impact of up...
Malaysia’s new PM Anwar says first priority is cost of living
Date: November 25, 2022
By Mei Mei Chu KUALA LUMPUR (Reuters) – Malaysia’s newly appointed Prime Minister Anwar Ibrahim said on Friday his primary focus would be on the cost of living as he takes office with a slowing economy and a country deeply split after a close election. Anwar, 75, was sworn in as premier on Thursday, capping...