Bank of England Governor Mark Carney is addressing a press conference following the U.K. central bank’s decision to leave interest rates unchanged. The decision was mostly expected after Carney gave dovish comments in an interview with the BBC, saying that Brexit uncertainty could slow the pace of rate hikes. Markets were pricing in less than […]
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AIR FRANCE likes to present itself as a cut above other European airlines. Offering fancy French food and free champagne in economy class on long-haul flights, the company’s strategy is to justify its high ticket prices by offering a premium service. But facing intransigent unions at home and competition from abroad, the airline’s financial fizz […]
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Intesa Sanpaolo CEO opens the door to new deals, hopes to thrive in Europe
One of the largest lenders in Italy is studying options to make new partnerships and improve its operations across Europe. Carlo Messina, chief executive officer at Intesa Sanpaolo told CNBC on Thursday that he is looking at potential new partners to scale up the business, after last month closing a deal with debt collection company […]
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Tesco still favorite stock despite Walmart’s Asda deal with Sainsbury’s, asset manager says
The U.K. supermarket space has drawn renewed attention from investors following the tie-up between Walmart’s Asda and J Sainsbury. The $10 billion deal between the two grocers, announced last week, was welcomed by the investment community, but according to one asset manager, Tesco is still the best stock pick. “Perhaps with most other people, we’ve […]
Read moreBT is cutting 13,000 managerial and back-office jobs and plugging its pension black hole, while placating shareholders by maintaining its dividend, in the latest restructuring by Britain’s biggest telecoms group. The new strategy from Chief Executive Gavin Patterson comes after the group reported a 3 percent drop in fourth-quarter revenue to 5.967 billion pounds, just […]
Read moreEuropean markets are expected to begin Thursday morning on a positive note, as investors turn their attention to a monetary policy meeting by the U.K.’s central bank. Looking to major bourses, the U.K.’s FTSE 100 is seen opening up 17 points at 7,680, while the French CAC 40 is expected to rise 16 points at […]
Read moreIf Thursday’s consumer inflation data comes in hotter than expected, it could trigger an important interest rate move, which is being watched across financial markets. Traders await the reaction in the benchmark 10-year Treasury yield to the 8:30 a.m. ET CPI data. The 10-year was hovering at 3 percent late Wednesday, just below a recent […]
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BUSINESS news does not repeat itself but it sometimes rhymes. In 2007 Walmart, America’s biggest grocer, crowed that it would crack the coveted Indian market by being the first global retailer to set up shop there, pipping envious rivals in the process. On May 9th it announced much the same thing: its time in India […]
Read moreFormer President Bill Clinton had some choice words about the new tax law. “The law basically is a bullet aimed at New York and California,” Clinton said Tuesday of changes to the tax code. The Tax Cuts and Jobs Act, signed into law by President Donald Trump in December, caps state and local tax (SALT) […]
Read moreU.S. producer prices barely rose in April after strong gains in the first quarter, held down by a moderation in the cost of both goods and services, which could ease fears that inflation pressures were rapidly building up. The slowdown in wholesale price growth reported by the Labor Department on Wednesday is likely temporary as […]
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