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UK consumers borrow more in face of cost-of-living squeeze
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Some wounded Russian soldiers find compensation elusive, despite Putin’s pledge – sources
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Euro zone inflation hits yet another record high after big jump
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European shares climb, set for best month since Nov 2020 on earnings cheer
France’s preliminary Q2 GDP rose 0.5%, beating forecasts
Date: July 29, 2022
PARIS (Reuters) -France’s preliminary gross domestic product (GDP) grew by 0.5% during the second quarter, beating forecasts and offering an element of respite for the euro zone’s second-biggest economy, which is facing headwinds from rising inflation. The preliminary second quarter GDP figures, released by France’s INSEE statistics body, beat forecasts in a Reuters poll which...
Spain’s second-quarter GDP growth of 1.1% tops estimates
Date: July 29, 2022
(Reuters) – Spain’s second-quarter economy expanded 1.1% over the previous three months to top growth estimates on robust overseas demand for the country’s goods and services, preliminary data showed on Friday. Analysts polled by Reuters had expected gross domestic product to grow 0.4% quarter on quarter. On an annual basis output expanded by 6.3%, compared...
Telecom Italia seals deal with unions on more jobs cuts in Italy
Date: July 29, 2022
MILAN (Reuters) -Telecom Italia (TIM) has clinched an agreement with national trade unions to cut 2,100 jobs through an early retirement scheme as part of a wider cost-cutting plan to 2024, a document seen by Reuters showed. Chief Executive Pietro Labriola is seeking about 1 billion euros in savings between now and 2024 while looking...
Renault upgrades outlook as turnaround plan starts to pay off
Date: July 29, 2022
By Christian Lowe and Gilles Guillaume PARIS (Reuters) -Carmaker Renault upgraded its full-year outlook on Friday, saying its turnaround plan to improve profitability was delivering results ahead of schedule. Renault shares were up nearly 6% at 0745 GMT after the company said operating margins in the first half of this year were at 4.7%, against...
StanChart cheers investors with $500 million share buyback, 19% profit jump
Date: July 29, 2022
By Anshuman Daga and Lawrence White SINGAPORE/LONDON (Reuters) -Standard Chartered’s first-half pre-tax profit rose 19% and beat market expectations, as the emerging markets-focused lender benefitted from rising interest rates and issued an upbeat post-COVID outlook, pushing its shares 3.7% higher. The strong performance unveiled on Friday showed how some banks with a focus on Asia...
German unemployment rises in July as Ukrainian refugees look for work
Date: July 29, 2022
BERLIN (Reuters) – German unemployment rose more than expected in July, Labour Office figures showed on Friday, as Ukrainian refugees looking for work in Germany are being registered by officials. The Federal Labour Office said the number of people out of work grew by 48,000 in seasonally adjusted terms to 2.463 million. Analysts polled by...