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Britain’s Barratt upbeat on housing demand, urges rethink on safety levy
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Insurer Hiscox sets aside $40 million for possible losses from Ukraine crisis
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ArcelorMittal increases buyback program, sees global steel dip
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BAE sees opportunity from higher European defence budgets
Virgin Money raises annual net interest margin forecast as profit jumps
Date: May 5, 2022
(Reuters) -British challenger bank Virgin Money UK Plc raised its annual net interest margin forecast on Thursday, boosted by strong credit card spending by customers and rising interest rates. The lender, born out of the merger of CYBG and Virgin Money, said it remained “prudently” provisioned due to the uncertain macroeconomic outlook and increased cost...
ECB should not raise rates in July before Q2 GDP data: Panetta
Date: May 5, 2022
MILAN (Reuters) – The European Central Bank should not raise interest rates in July, even though the inflation outlook suggests it can gradually reduce support for the economy, ECB board member Fabio Panetta told Italian newspaper La Stampa. While an increasing number of ECB policymakers are making the case for a rate hike at the...
Analysis-Rising oil prices buy Iran time in nuclear talks, officials say
Date: May 5, 2022
By Parisa Hafezi DUBAI (Reuters) – Emboldened by an oil price surge since Russia invaded Ukraine, Iran’s clerical rulers are in no rush to revive a 2015 nuclear pact with world powers to ease sanctions on its energy-reliant economy, three officials familiar with Tehran’s thinking said. Last year, the Islamic Republic engaged in indirect talks...
AB InBev sells more beer, consumers swallow higher prices
Date: May 5, 2022
By Philip Blenkinsop BRUSSELS (Reuters) – Anheuser-Busch InBev reported higher than expected earnings in the first quarter on Thursday, as consumers bought more of its beer and accepted higher prices, prompting it to repeat its outlook for growth this year. The world’s largest brewer said earnings before interest, tax, depreciation and amortisation (EBITDA) would rise...
Zalando posts first decline in sales since founding
Date: May 5, 2022
BERLIN (Reuters) -Zalando posted a decline in sales for the first time since the German online fashion retailer was founded, leading it to dim its outlook for 2022 on Thursday. First-quarter sales fell by 1.5%, to 2.2 billion euros ($2.33 billion), after posting a 46.8% increase in the same quarter last year thanks to the...
Vaccine maker Valneva loss narrows on lower investment
Date: May 5, 2022
(Reuters) -French vaccine maker Valneva on Thursday reported a narrower quarterly loss helped by a fall in costs from development of its chikungunya vaccine and lower investment in research and development of its COVID-19 vaccine candidate. It posted a loss of 18.4 million euros ($19.53 million) in adjusted earnings before interest, taxes, depreciation, and amortisation...