Reuters UK/EU - Squid Business

UBS Chairman sees gain in customer balances following Credit Suisse rescue

By John Revill (Reuters) -UBS has been a net gainer in customer balances following its rescue of Credit Suisse, Chairman Colm Kelleher said on Wednesday, citing positive feedback from wealthy clients. Bank mergers can sometimes lead to turbulence, with clients withdrawing their cash, although this tended to happen very quickly, Kelleher told a WSJ event …

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Soccer-Crystal Palace midfielder Eze gets England call

By Martyn Herman LONDON (Reuters) -In-form Crystal Palace midfielder Eberechi Eze earned his first senior call-up for England as coach Gareth Southgate named his squad for next month’s Euro 2024 qualifiers on Wednesday. The 24-year-old was the only uncapped player in the 25-man selection for the two games in Group C, away to Malta and …

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BoE’s Bailey welcomes inflation drop, sees risk of a slow falls ahead

LONDON (Reuters) -Bank of England Governor Andrew Bailey said a fall in British inflation back into single digits was welcome but food price growth was stronger than expected and it remained to be seen how quickly inflation would fall in the months ahead. Data published earlier on Wednesday showed the consumer price index rose by …

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Exclusive-Erdogan party split on economic plan as Turkey runoff looms, sources say

By Ebru Tuncay, Orhan Coskun and Nevzat Devranoglu ANKARA (Reuters) – Days before Turkey’s runoff presidential election, there is disagreement and uncertainty within Tayyip Erdogan’s government over whether to stick with what some call an unsustainable economic programme or to abandon it, insiders say. According to interviews with nine sources, either government officials or others …

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UK’s Sunak will not investigate interior minister over speeding fine row

By William James and Alistair Smout LONDON (Reuters) – British Prime Minister Rishi Sunak said on Wednesday he would not investigate interior minister Suella Braverman over her handling of a speeding offence last year, ruling that her actions did not breach the ministerial code. The move spares Braverman, a minister who has become a favourite …

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Russian spy chief tells ‘meddling West’ to go to the devil, forecasts its demise

By Andrew Osborn (Reuters) – One of Russia’s top spy chiefs on Wednesday said the West had sown the seeds of its own destruction by turning away from what he called its core traditions and told it to “go to the devil” and stop interfering in global affairs. In remarks at a security forum outside …

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M&S shares soar as strategy ‘beginning to deliver’

By James Davey LONDON (Reuters) -Marks & Spencer said its latest turnaround strategy was starting to deliver, enabling it to restore its dividend and forecast “modest” revenue growth and a profit outcome ahead of market expectations this year, sending its shares 13% higher. That rise extended the 139-year old British clothing and food retailer’s gains …

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EU sets out plans to cut the price of financial products

By Huw Jones LONDON (Reuters) -The European Union set out plans on Wednesday to cut how much retail investors pay banks and insurers for financial products to encourage investment and make its capital market deeper and more efficient. The retail investment package toughens up existing EU investment laws by including a ban on banks and …

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Aviva firmly against forcing pension funds to back UK start-ups, CEO says

By Iain Withers LONDON (Reuters) -Aviva is opposing a UK proposal to force pension funds to back more British start-ups in a bid to keep London competitive with rival finance hubs like New York, the CEO of the FTSE 100 firm told Reuters on Wednesday. British officials are drawing up a blueprint for a proposed …

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Royal Mail’s largest union to suspend vote on deal with postal firm

(Reuters) -Royal Mail’s largest union warned on Wednesday it would suspend voting on an agreement reached with the British postal services firm last month over pay and worker terms, charging the firm of not abiding by some of the agreed-upon conditions. The Communication Workers Union (CWU) had said in April it would recommend its members …

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