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Stellantis buys car-sharing business as BMW, Mercedes take different route
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New Morrisons owner avoids deal probe with petrol station sale
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Strong pound drags export-heavy FTSE 100 lower, offsets BP boost
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South African coal miners turn to trucks as rail service deteriorates
BP expects to pay up to 1 billion pounds in UK taxes in 2022
Date: May 3, 2022
LONDON (Reuters) – BP said on Tuesday it expected to pay up to 1 billion pounds ($1.25 billion) in taxes in Britain on its 2022 profits, after its operating profit surged despite reporting a big writedown for exiting its Russian businesses. BP, which did not say how much British tax it paid in 2021, made...
UK competition watchdog sets deadline for LSEG takeover of Quantile
Date: May 3, 2022
LONDON (Reuters) – Britain’s competition watchdog said on Tuesday that the London Stock Exchange Group and Quantile Group have until May 10 to offer acceptable undertakings to avoid an in-depth investigation into their merger. LSEG said in December it had acquired Quantile for up to 274 million pounds ($343.49 million) to expand its range of...
German financial watchdog warns of ‘very big’ risk of cyberattacks
Date: May 3, 2022
FRANKFURT (Reuters) – Germany’s financial regulator BaFin on Tuesday warned of a “very big and very present” risk of cyberattacks in the wake of Russia’s invasion of Ukraine. BaFin has long warned about cyber risks, but the statements mark a harsher tone. “The war has made cyberattacks on the German financial sector more probable,” BaFin...
UK factory activity edges up from March’s one-year low – PMI
Date: May 3, 2022
By David Milliken LONDON (Reuters) – British factory activity edged up in April after slowing to its weakest in just over a year in March following Russia’s invasion of Ukraine, but manufacturers were wary about the outlook as costs leapt and demand faltered, a survey showed on Tuesday. The S&P Global/CIPS manufacturing Purchasing Managers’ Index...
Factbox: Companies count the cost of ditching Russia
Date: May 3, 2022
(Reuters) – Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow’s invasion of Ukraine on Feb. 24 have started to report associated losses. These are firms, listed by sector, that have provided cost estimates related to a temporary or permanent halt in Russia: APPAREL ADIDAS The German sportswear company warned...
Sterling bounces higher as dollar surge eases
Date: May 3, 2022
LONDON (Reuters) – The British pound rose on Tuesday, moving away from 21-month lows against the dollar as traders took profits on the recent surge in the U.S. currency ahead of both Federal Reserve and Bank of England monetary policy meetings this week. The Bank of England meeting, which is expected to result in a...