By Yoruk Bahceli and Akriti Sharma (Reuters) – UBS Group said on Wednesday it would buy back 2.75 billion euros ($2.96 billion) worth of debt it sold just days ago in a bid to boost confidence among bondholders rattled by its $3 billion rescue of rival Credit Suisse. The bonds were sold on March 9 …
UBS buys back bonds days after issue to buoy investor confidence Read More »
BRUSSELS (Reuters) – The European Union wants to give consumers the right to have worn-out products like washing machines and televisions repaired by producers even after the sales guarantee has expired, to cut waste and make goods last longer. The European Commission proposed rules on Wednesday that would oblige producers to offer repairs for a …
PARIS (Reuters) -French President Emmanuel Macron, facing protests over an unpopular pension reform, said on Wednesday he wanted the government to take measures ensuring that companies share more of their profits with workers. Macron, seeking to regain the political initiative after narrowly surviving a no-confidence vote in parliament this week, made the remarks in a …
France’s Macron wants companies to share more profits with workers Read More »
By Ahmad Ghaddar and Rowena Edwards LONDON (Reuters) – The European jet fuel market is coming under pressure from oversupply even as demand from the aviation industry continues its post-COVID recovery, market sources told Reuters. Â Â Â Â European profit margins for producing jet fuel are averaging about $27 a barrel this month, the lowest since February last …
Bloated supplies keep European jet fuel margins stuck on runway Read More »
LONDON (Reuters) – Europe’s STOXX real estate sector fell to a five-month low on Wednesday amid expectations both the Federal Reserve and Bank of England (BoE) will raise interest rates this week. Tightening financial conditions are set to weigh further on the battered sector, which sharply underperformed the pan-European STOXX 600 index on Wednesday. The …
Europe’s real estate sector knocked by rate hike expectations Read More »
By John Revill ZURICH (Reuters) – The fall of Credit Suisse has dealt a serious blow to Switzerland’s credentials as the world’s leading wealth management centre, experts warn, calling into question its reputation for stability, regulation and corporate governance. Battered by years of scandals and losses, Credit Suisse had been fighting a crisis of confidence …
Analysis-Credit Suisse collapse threatens Switzerland’s wealth management crown Read More »
LONDON (Reuters) – Struggling British fashion brand Superdry has sold its intellectual property assets in much of the Asia Pacific region to South Korea’s Cowell Fashion Company for $50 million, giving it a much-needed cash boost. The deal means Cowell will own and use the Superdry brand in its home market before extending to other …
Britain’s Superdry sells Asia Pacific IP for $50 million Read More »
By Amy-Jo Crowley LONDON (Reuters) – Learning Technologies Group is planning to buy a batch of technology-focused corporate training firms as part of a strategy to thwart unsolicited interest from private equity firms, CEO and co-founder Johnathan Satchell told Reuters. The AIM-listed corporate education group, with a market value of 1 billion pounds, has been …
LTG plans M&A spree to ward off bargain-hunting buyout firms Read More »
By Paul Sandle and Muvija M LONDON (Reuters) -Britain’s competition regulator said U.S. chipmaker Broadcom’s acquisition of VMware could make servers more expensive, and it would refer the $61 billion deal to an in-depth inquiry unless its concerns were addressed. Broadcom agreed to buy the cloud computing and virtualisation company last year to diversify into …
UK says Broadcom’s $61 billion VMware deal could hurt server competition Read More »
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank is watching for signs of stress in the bank sector from the ongoing financial turmoil but a full-blown crisis is unlikely for now, the ECB’s top brass said on Wednesday. Investors are pondering whether the ECB will be able to continue raising rates …
ECB looking for signs of stress but banking crisis unlikely Read More »
