Business

Amazon, Ferragamo sue several firms, people over counterfeit products

Amazon.com Inc and Italian fashion group Salvatore Ferragamo jointly sued several individuals and entities, mainly based in China, for allegedly selling counterfeit Ferragamo belts on its online retail store. The…

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Bombardier to lay off 1,600, halt Learjet production

Bombardier Inc said it would halt Learjet aircraft production and slash about 1,600 jobs this year as it becomes a pure-play business jet maker, after reporting an adjusted loss before…

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UK economy suffers record 9.9% slump in 2020

Britain's coronavirus-ravaged economy shrank 9.9% in 2020, the biggest annual fall in output since modern records began, but avoided heading back towards recession in the final quarter of the year,…

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Gold eases as dollar rises, still on track for best week in three

Gold eased on Friday as the dollar and Treasury yields edged higher, but prices were on course for their best week in three as hopes of more U.S. stimulus underpinned…

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Oil prices fall for a second day as OPEC, IEA caution ends rally

Oil prices fell a second day on Friday, extending losses after OPEC cut its demand forecast and the International Energy Agency said the market was still over-supplied. Brent crude was…

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Greek unemployment drops to 16.2% in November, lowest since April 2011

Greece's jobless rate dropped to 16.2% in November from a downwardly revised 16.4% in the previous month, data from the country's statistics service ELSTAT showed on Thursday, the lowest rate…

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Singapore Airlines begins flights with fully vaccinated crew

Singapore Airlines (SIA) began operating flights on Thursday with full sets of crew members vaccinated against COVID-19 as the city-state seeks to rejuvenate its status as an international travel hub.…

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Royal Mail delivers rosy outlook after COVID-19 Christmas

Britain's Royal Mail on Thursday forecast annual profits ahead of market expectations as COVID-19 restrictions pushed parcel delivery demand to record levels and Christmas mail eased a slide in letter…

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BoE’s Bailey warns EU not to pick a fight on finance

Bank of England Governor Andrew Bailey urged the European Union on Wednesday not to pick a fight with Britain over its huge financial services industry after Brexit, and said the…

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EC sees a challenging winter, but light at the end of the tunnel

Europe remains in the grip of the coronavirus pandemic. The resurgence in the number of cases, together with the appearance of new, more contagious strains of the coronavirus, have forced…

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Pernod Ricard banks on China and U.S. to help sales return to growth in full year

French spirits group Pernod Ricard said it expected its sales would return to organic growth in full year of 2020/21, thanks to strong demand for its premium cognac and whisky…

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Schneider Electric sees bigger sales, profit in 2021

French electrical equipment group Schneider Electric said on Thursday it expects its revenues and core profit margin to grow this year, after a second-half rebound helped it beat market expectations…

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Mastercard to open up network to select cryptocurrencies

Mastercard Inc said on it was planning to offer support for some cryptocurrencies on its network this year, joining a string of big-ticket firms that have pledged similar support. The…

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Heathrow Airport warns of more job losses from border restrictions

The boss of Heathrow Airport said on Thursday that more jobs could be lost in aviation if the government doesn't provide more support to the industry and begin to outline…

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U.S. eyes innovation to battle misuse of cryptocurrencies, narrow digital gaps

U.S. Treasury Secretary Janet Yellen on Wednesday warned about an “explosion of risk” from digital markets, including the misuse of cryptocurrencies, but said new financial technologies could also help fight…

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Malaysia’s economy posts biggest annual decline since 1998 crisis

Malaysia's economy fell at a faster than expected clip in the fourth quarter, as stricter coronavirus curbs crimped consumption and slowed the pace of recovery. Gross domestic product contracted 3.4%…

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Amsterdam surpasses London as Europe’s top share trading hub

Amsterdam edged ahead of London to become Europe's biggest share trading centre in January, benefiting from Brexit forcing European Union investors to use platforms inside the bloc. Exchanges in the…

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Greek restaurants plea for help as COVID restrictions crush business

Greek restaurant and cafe owners pleaded for additional government support to protect livelihoods and jobs after months of crippling restrictions on their businesses to help stem the spread of COVID-19.…

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Frankfurt Airport January Passenger Volume Down 81%

Frankfurt Airport (FRA) served 882,869 passengers in January 2021, representing an 80.9 percent decline compared to the same month last year. This low demand resulted from ongoing travel restrictions imposed…

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11

Feb

Mapfre’s net profit fall 14% in 2020 as pandemic hits business

Spanish insurer Mapfre said on Thursday its net profit fell 14% in 2020 as consumers took out fewer insurance contracts as a result of the business restrictions imposed to curb…

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Microsoft approached Pinterest in recent months about potential deal

Microsoft Corp approached Pinterest Inc in recent months about a potential deal to acquire the $51 billion social media company, the Financial Times reported, citing people briefed on the matter.…

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Exclusive Reuters report reveals EU faces bankruptcies and bad loans as COVID-19 help for firms ends

The European Union is facing a surge in bankruptcies and bad loans once the post-pandemic economic recovery starts to take hold and governments begin withdrawing state schemes that are keeping…

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Road freight prices from France to Britain jump 50% in January

Freight prices for moving goods by road from France to Britain rose by 50% in January compared with the same month a year ago after lorry drivers demanded higher payments…

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Nearly half of UK goods exporters see Brexit trade trouble, BCC says

Just under half of British companies that export goods have run into difficulties caused by the Brexit shift in trade terms with the European Union since the start of the…

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EU diplomats say it is up to Brazil to save Mercosur trade deal

The free-trade treaty reached between the European Union and the South American bloc Mercosur will not get signed if Brazil does not show concrete steps toward reducing deforestation in the…

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Oil drops after strong rally, demand hopes limit losses

Oil prices fell on Thursday, giving up some of the recent strong gains on profit-taking and speculation that the market's strength could tempt producers like Saudi Arabia to reduce output…

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Gold eases as soft inflation data dents appeal

Gold edged lower on Thursday as the dollar recovered and softer U.S. inflation data dampened the bullion's appeal as a hedge against inflation. Spot gold fell 0.3% to $1,835.99 per…

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Turkish unemployment edged up near 13% in November

ISTANBUL, Feb 10 (Reuters) - Turkey's unemployment ticked up to 12.9% in the November period, from 12.7% the previous month, and participation slipped to mid-2020 levels as a second wave…

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Toyota hikes profit forecast 54%, shrugs off global chip supply issues

TOKYO, Feb 10 (Reuters) - Toyota Motor Corp said on Wednesday it has an up to four-month stockpile of chips and was not immediately expecting a global chip shortage to…

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Ryanair’s O’Leary optimistic on international travel from May

LONDON, Feb 10 (Reuters) - Ryanair Chief Executive Michael O'Leary said he was optimistic that people in Britain would be able to travel internationally from May, but warned if that…

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Europe’s summer abroad cancelled as staycation bookings soar

CONNEMARA, Ireland, Feb 10 (Reuters) - Up until late January Terry O'Toole was fielding a trickle of enquiries from Irish holidaymakers happy to settle for another summer at home in…

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Heineken unveils 2 bln euro cost saving plan as earnings sink

BRUSSELS, Feb 10 (Reuters) - Heineken NV, the world's second largest brewer, reported annual results broadly as bad as expected and unveiled a new plan to boost income and find…

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Spain to strengthen support for company solvency soon

The Spanish government expects to prepare additional measures to support companies' solvency soon, Economy Minister Nadia Calvino said on Tuesday. "We can go one step further to support solvent companies,…

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ANALYSIS-In a harsher trade world, EU arms itself for future conflicts

Hardened by the pain of Brexit, clashes with the Trump presidency and a new realism over China, a bruised European Union is due next week to set out a future trade policy designed…

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Apple positioned to offer cryptocurrencies: RBC report

Apple Inc has a "clear opportunity" to offer a buying and selling mechanism for cryptocurrencies, a move that would allow the company to immediately gain market share, according to a research report…

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Business conditions level improve in Q3 but remains below – CBM

During the third quarter of 2020 economic activity recovered somewhat as GDP expanded in quarter-on-quarter terms, the Central Bank said today. In particular, seasonally-adjusted data show that GDP rose by…

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Draghi wants one-month school extension to recuperate lost days

Education and schooling have been identified as one of Mario Draghi's - the man called to take responsibility for the next Italian Government - top priorities. The former ECB President…

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Imports, exports decrease in 2020

During 2020, the trade deficit narrowed by €1,462.3 million when compared to 2019, reaching €2,159.8 million, the NSO said this morning. Both imports and exports decreased in the year of…

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Stocks rise in Asia after U.S. records, dollar weakens

Asian stock markets rose on Tuesday after a record-setting day on Wall Street, while bitcoin paused for breath after an overnight endorsement from Tesla Inc sent the cryptocurrency up 20%.…

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Extension of Irish COVID-19 jobless scheme likely- minister

Weekly payments to Irish employees temporarily out of work will likely be extended until the summer, Social Protection Minister Heather Humphreys said on Monday, as the number on the scheme…

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All people travelling to UK to face mandatory tests

All the people travelling to the UK are to face mandatory tests from next week. In a statement, quoted by Sky News, Health Secretary Matt Hancock is expected to announce…

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EU awaits U.S. trade chief for real tariff talks to start

The European Union has had positive, early contact with the Biden administration on trade, but will need to wait for a new U.S. trade representative to be in place for…

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Congressional Democrats set to back more than $50 billion for transportation sector

Democrats in the U.S. Congress are to release a sweeping plan to provide more than $50 billion in additional assistance to U.S. airlines, transit systems, airports and passenger railroad Amtrak…

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A Tesla for a bitcoin: Musk drives price to moon with $1.5 bln purchase

Feb 8 (Reuters) - Bitcoin took another large stride toward mainstream acceptance on Monday after billionaire Elon Musk's electric vehicle company Tesla Inc revealed it had bought $1.5 billion of…

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Facebook to remove more false coronavirus claims from platform

Feb 8 (Reuters) - Facebook Inc said Monday it will help users find out where and when they can receive the coronavirus vaccine and will expand a list of false…

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Chinese demand helps German manufacturers weather COVID-19 pandemic

BERLIN, Feb 8 (Reuters) - Germany's industrial sector avoided a contraction in December despite coronavirus lockdowns at home and abroad as strong demand from China helped export-oriented manufacturers in Europe's…

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France leads calls on EU to quit energy treaty – FT

Financial Times - France is leading calls so the EU calls quits an international energy treaty that gives multinationals the power to sue governments, with critics calling the agreement a serious…

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Sport streaming firm DAZN leads race for Serie A domestic TV rights – sources

MILAN (Reuters) - Sport streaming service DAZN is leading the race for rights to screen Italy's Serie A matches over the 2021-2024 seasons in a challenge to the country's dominant…

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U.S. Treasury Secretary Yellen: Too soon to say if changes needed to address market volatility

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen said on Sunday that it is too soon to say whether new policies or regulations are needed to deal with recent market…

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Air Malta cancels flight to Amsterdam as Netherlands weather conditions worsen

Air Malta flight to Amsterdam KM394/5 will be cancelled today due to severe weather conditions in Amsterdam. Passengers booked on this flight will be transferred onto the Airline’s flight to…

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Germany talking to BioNTech about funding for vaccine capacity

BERLIN, Feb 6 (Reuters) - Germany is in talks with BioNTech and other COVID-19 vaccine makers about possible funding to help them secure capacity and raw materials, Health Minister Jens…

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Euro zone recovery delayed, to gather pace from mid-year – Lagarde

FRANKFURT, Feb 7 (Reuters) - Europe's recovery from a recession induced by the COVID-19 pandemic has been somewhat delayed but should pick up pace from mid-year, European Central Bank President…

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UK plans to tax firms that profited from pandemic: Sunday Times

LONDON, Feb 6 (Reuters) - Britain plans to tax retailers and tech companies whose profits have soared during the COVID-19 pandemic, the Sunday Times reported, citing leaked emails. The government…

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G4S to hold talks for head-to-head takeover auction – The Telegraph

(Reuters) - British security group G4S will hold talks with the City’s takeover panel, the Telegraph reported on Saturday, which could lead to a head-to-head auction between North American peers…

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Navalny affair no grounds to cancel Nord Stream pipeline, new German CDU chief says

Germany should not drop support for the planned Nord Stream 2 pipeline from Russia over the crackdown on Kremlin critic Alexei Navalny, as "feel-good moralising" is not foreign policy, the man…

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Oil price rises slightly after OPEC+ confirms cuts

Oil ticked up on Thursday on strong U.S. economic data, falling inventories and the OPEC+ decision to stick to its output cuts, but a stronger U.S. dollar limited the gains. Brent…

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Infringement procedures against Malta for not transposing new EU telecom rules

The Commission opened infringement procedures against Malta and another 23 Member States for failing to enact new EU telecom rules. The European Electronic Communications Code modernises the European regulatory framework for electronic…

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