Eurozone inflation unexpectedly steady in August but core prices fall giving ECB new headache August 31, 2023 Eurozone inflation held steady this month but underlying price growth fell as expected, a mixed picture that complicates life for the European Central Bank as it weighs the merits of a pause in rate hikes. Overall inflation in the 20 countries sharing the euro was unchanged at 5.3 per cent in August, defying expectations for [...]
Microsoft to unbundle Teams from Office in bid to avert EU antitrust fine August 31, 2023 Microsoft will unbundle its chat and video app Teams from its Office product and make it easier for rival products to work with its software, the US company said on Thursday in a move aimed at staving off a possible EU antitrust fine. The proposed changes came a month after the European Commission launched an [...]
FTSE reshuffle: Who’s been promoted and who’s got the boot? August 30, 2023 Marks & Spencer has climbed back on to the UK’s FTSE 100 four years after dropping off the top stock index, while housebuilder Persimmon has been demoted following a rocky patch for the housing market. The upmarket supermarket staged the return to the top tier after seeing its share price jump by more than two [...]
Orsted plunges 20 per cent on risk of £1.84bn US impairments amid offshore wind project woes August 30, 2023 Denmark's Orsted, the world's largest offshore wind farm developer, has revealed it may see a £1.84bn cost for US impairments.
US private payrolls growth slows sharply in August as labour market eases August 30, 2023 US private payrolls increased less than expected in August, the latest indication that the labour market was losing steam, though it remains tight. Private payrolls rose by 177,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private employment would increase by 195,000. Data for July was [...]
Former Co-op Bank boss Paul Flowers accused of carpet fraud August 30, 2023 Former Co-op Bank boss Paul Flowers has been accused of defrauding someone of carpets and by using cheques while acting under a power of attorney. The case against the 73-year-old was detailed in court listings at a hearing at Manchester Magistrates’ Court, where the case was adjourned until next week. Flowers was not present for [...]
Brexit border checks on food delayed for fifth time August 29, 2023 The implementation of post-Brexit border checks on food products coming from the EU has been delayed for a fifth time.
Exxon says world set to fail two degrees global warming cap by 2050 August 29, 2023 Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54 per cent, Exxon Mobil announced.
German outlook bleak as consumer sentiment falls again August 29, 2023 German consumer sentiment is expected to fall in September, due to declining income expectations and propensity to buy, a GfK institute survey showed on Tuesday. The institute’s consumer sentiment index fell to -25.5 heading into September from a slightly revised -24.6 in August, below expectations of analysts polled by Reuters of a reading of -24.3. [...]
Competition watchdog probes land banks in housing investigation August 25, 2023 The UK competition watchdog has said it will probe land banking by the country’s biggest housebuilders as it identified a number of concerns regarding the sector. The Competition and Markets Authority (CMA) formally started a probe into the housebuilding sector and the private rental market in February. It said it was looking into the housebuilding [...]