By Laila Bassam and Aziz El Yaakoubi BEIRUT/RIYADH (Reuters) – Syria and Saudi Arabia have agreed to reopen their embassies after cutting diplomatic ties more than a decade ago, three sources with knowledge of the matter said, a step that would mark a leap forward in Damascus’s return to the Arab fold. Contacts between Riyadh …
After Iran, Saudi Arabia to re-establish ties with Syria, sources say Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Meta Platforms on Thursday voiced its strongest criticism to date of a push by EU telecoms operators to get Big Tech to foot some network cost, saying the plan is not the solution to their financial problems and it also ignores tech companies’ hefty investments. Deutsche Telekom, Orange, …
Meta says a network fee is not the fix for European telecoms firms’ financial problems Read More »
By Jesús Aguado MADRID (Reuters) -Spain’s Bankinter warned on Thursday that banks faced a range of negative side effects of higher interest rates in the medium term, such as an increased cost of credit and liquidity restrictions. “We must be aware that, while higher interest rates normally have a clearly positive effect on banks’ profit …
Bankinter warns of credit costs, liquidity restrictions due to higher rates Read More »
By Joice Alves LONDON (Reuters) – Sterling was volatile on Thursday after the Bank of England (BoE) raised interest rates and said it expects the surge in British inflation to cool faster than before. Despite a surprise jump in price growth announced on Wednesday, the BoE raised interest rates by a further quarter of a …
Sterling struggle for direction after BoE rate hike Read More »
LONDON (Reuters) – Tesco, Britain’s biggest supermarket group, has beaten its target for the rollout of its rapid delivery service Whoosh, it said on Thursday. A raft of rapid delivery firms, including Getir and GoPuff, have emerged in recent years, prompting traditional supermarket groups like Tesco to rethink their business models. After rapid expansion, a …
Britain’s Tesco beats rapid delivery rollout target Read More »
By Klaus Lauer and Markus Wacket BERLIN (Reuters) -Two German labour unions representing transport workers called for mass strikes next Monday that are expected to cause widespread disruption on railways and at airports, the latest travel chaos in Germany prompted by wage disputes. The strikes, scheduled to start just after midnight and affect services throughout …
German unions call for transport, shipping sector strikes on Monday Read More »
By Shashwat Chauhan (Reuters) -London stocks held their intraday losses after the Bank of England raised its main lending rate by an expected 25 basis points on Thursday, while bank stocks fell for the first time in three days. The FTSE 100 fell 0.8%, after recording its highest closing level in more than a week …
London stocks hold losses after BoE hike, banks down Read More »
LONDON (Reuters) – British food retailers have kept the prices of salad vegetables that have been in short supply “comparatively low” versus their European peers, food and farming minister Mark Spencer said on Thursday. For a month or so Britons have grappled with a shortage of key salad staples, particularly tomatoes, cucumbers and peppers, while …
Britain has held down salad prices, Europe hasn’t, says minister Read More »
(Reuters) -Britain’s competition watchdog on Thursday fined 10 construction firms a total of nearly 60 million pounds ($74 million) for rigging bids for demolition and asbestos removal contracts for public and private sector projects. The Competition and Markets Authority (CMA) started the large-scale investigation in 2019 and in June last year provisionally found that the …
UK competition watchdog fines construction firms $74 million for rigging bids Read More »
By William Schomberg and David Milliken LONDON, March 23 (Reuters) – The Bank of England raised interest rates by a further quarter of a percentage point on Thursday and said it expects the surge in British inflation to cool faster than before, despite a surprise jump in price growth announced on Wednesday. Sounding more upbeat …
Bank of England raises interest rates again, sees inflation falling Read More »
