As recession looms, UK businesses send SOS loans

Costlier credit, on tighter terms as banks assess risk Some business owners use their own money to fill in the gaps Funding crisis could deal another economic blow to Britain LONDON, Nov 17 (Reuters) – As inflation soars and recession looms, many British businesses are struggling to get affordable bank finance, putting pressure on the … Read more

Richemont stock soars as jewelry sector sparkles

The jewelry sector sees its sales increase by 24% Profit from continuing operations increases by 40% President cautious on cost of living and rising interest rates ZURICH, Nov 11 (Reuters) – Shares of luxury goods group Richemont (CFR.S) soared as much as 21% in early trading on Friday after the owner of Cartier posted strong … Read more

UK business activity falls the most in September since early 2021

UK composite PMI drops to 49.1 in September (Prev: 49.6) Consumer confidence shaken by cost of living crisis UK private car registrations down 3.6% Britain’s new prime minister had a rocky start to office LONDON, Oct 5 (Reuters) – Britain’s private sector economy suffered the biggest contraction in activity last month since the COVID lockdown … Read more

Wall Street mixed after weak trade data; Tesla drags the Nasdaq

China’s ADRs fall on concerns over the direction of the economy Tesla falls on price cuts in China Activity contracts in the United States in October Indices: Dow up 0.46%, S&P down 0.09%, Nasdaq down 1.19% Oct 24 (Reuters) – U.S. stock indexes were mixed in morning trading on Monday, with the tech-heavy Nasdaq hit … Read more

Oil gains on weaker U.S. business activity, but Chinese demand data weighs

US business activity weakens again in October – S&P Global NEW YORK, Oct 24 (Reuters) – Oil edged higher in choppy trading on Monday as weakening U.S. business activity data dampened expectations of a more aggressive rate hike. interest, while data showing that demand from China remained lackluster in September restrained prices. Brent crude futures … Read more

Emirates NBD revives equity business with Dubai IPOs

DUBAI, Oct 21 (Reuters) – Emirates NBD (ENBD.DU) has won a top spot in all of Dubai’s initial public offerings this year, raising its fees and reviving a long-dormant business amid fierce competition from local banks and international. Dubai’s biggest lender, majority-owned by the Dubai government, helped manage the IPOs of Dubai Electricity and Water … Read more

Analysis: the crisis in the United Kingdom forces “shifted” companies to suspend their investments

Nervous companies abandon their investment plans The mini-budget forced borrowing costs higher Leaders want stability, not tax cuts LONDON, Oct 18 (Reuters) – British business owners are withdrawing investments as a crisis sparked in Westminster drives up borrowing costs and undermines confidence in an economy once seen by businesses as a haven of stability. Businesses … Read more

Analysis: Bond Vigilantes Mean Business, Governments Better Beware

LONDON, Oct 17 (Reuters) – The sight of Britain’s new finance minister smashing up his chief’s economic policies on Monday illustrated something starkly clear – the bond market vigilantes are back, they’re bold and governments had better stop. pay attention to it. It took only three weeks for the markets to force the United Kingdom, … Read more

Citigroup beats earnings estimates as rate hikes bolster lending business

Oct 14 (Reuters) – Citigroup Inc (CN) beat third-quarter profit estimates on Friday as its lending business benefited from a series of interest rate hikes by the Federal Reserve and offset weakness elsewhere divisions such as investment banking and trading. After facing years of near-zero interest rates, banks are seeing a sharp rise in net … Read more

Business Minister: UK budget not to blame for market chaos

LONDON, Oct 12 (Reuters) – Britain’s business secretary Jacob Rees-Mogg said on Wednesday the government’s “mini-budget” was not to blame for the turmoil in bond markets, the IMF accused of anti-British bias and questioned authorities over data showing the economy has contracted. His comments drew criticism at a time when the newly formed Conservative government … Read more