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Top StoriesIn Germany, energy price shock triggers fears of insolvency wave
Top StoriesFries shortage resolved, successor to McDonald’s in Russia eyes full reopening
BankingCredit suisse exec: Swiss bank not main focus for cost savings
Top StoriesElectrolux flags cost cuts, warns on profit as inflation squeezes demand
Germany’s bakeries burnt by rising energy prices
Date: September 9, 2022
By Riham Alkousaa and Petra Wischgoll MUELHEIM AN DER RUHR (Germany) (Reuters) – German bakery owner Peter Hemmerle is expecting his company’s annual electricity bill to quadruple to 1.2 million euros as energy prices have risen since the outbreak of the war in Ukraine. His Heinz Hemmerle bakery in Muelheim an der Ruhr depends on...
Taking on the uncertain future of financial services
Date: September 7, 2022
How can CFOs protect their businesses for tomorrow and beyond as inflation continues to rise? By Mark Blakemore, Chief Financial Officer at Compleat Software, the purchase to pay software house Welcome to reality, where inflation is rapidly dominating the economy around the world. It is an inevitable phenomenon that no person or organisation can escape....
Euro zone business activity contracted again in August -PMI
Date: September 5, 2022
LONDON (Reuters) – Euro zone business activity contracted for a second month in August as demand sank, with customers wary of the deepening cost of living crisis and gloomy economic outlook curtailing their purchases, a survey showed. S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a guide to economic health, fell to an...
Kosovo pushes ahead with car licensing rule resisted by serbs
Date: September 2, 2022
JARINJE, Kosovo (Reuters) -Dozens of U.S. NATO peacekeepers patrolled northern Kosovo on Thursday to preserve calm after Pristina announced that around 50,000 ethnic Serbs in the region would have to switch their car license plates to local ones within two months. Kosovo, which is predominantly ethnic Albanian, has sought to compel Serbs to accept Pristina’s...
China July industrial profits down as COVID curbs, heatwaves hit
Date: August 29, 2022
SHANGHAI (Reuters) -Profits at China’s industrial firms sank in July, reversing previous gains as fresh COVID-19 curbs dragged down demand and squeezed factory margins, while power shortages due to heatwaves threatened production. Profits at China’s industrial firms fell 1.1% in January-July from a year earlier, wiping out the 1.0% growth logged during the first six...
Europe’s wizz air considering a Saudi operating license
Date: August 25, 2022
RIYADH (Reuters) -European budget carrier Wizz Air is considering basing an airline in Saudi Arabia as part an agreement signed with the government this year to develop the kingdom’s aviation sector, its chief executive said in an interview on Thursday. Wizz Air, which said in May it would explore opportunities in Saudi Arabia, announced on...