UK’s Persimmon warns of profit fall, slashes dividend by 75%

By Aby Jose Koilparambil and Suban Abdulla (Reuters) -Persimmon warned on Wednesday Britain’s slowing housing market would hit annual profits and home-building targets as it slashed its dividend by 75%, sending its shares sharply lower. Britain’s housing market has slowed markedly in recent months as higher mortgage rates and broader economic concerns deter buyers. Data …

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British factories more optimistic as threat of deep recession eases -PMI

By Suban Abdulla LONDON (Reuters) – British factory activity contracted last month at the slowest pace since July and 60% of manufacturers expect output to rise in the coming 12 months, reflecting cooling inflation pressure, a survey showed on Wednesday. The S&P Global/CIPS UK monthly manufacturing Purchasing Managers’ Index (PMI) rose to 49.3 in February …

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Xi’s planned revival of Chinese financial watchdog exerts more party control

By Joe Cash BEIJING (Reuters) – Plans by China’s Communist Party to revive a high-level economic watchdog after two decades signal President Xi Jinping push to increase oversight of the financial sector, analysts say, part of a wider tightening of control by Xi and the party. Xi, who secured a precedent-breaking third leadership term in …

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BayWa to sell solar trading unit

(Reuters) – German agri-food firm BayWa said on Wednesday it intends to sell its international solar trading unit. The move comes as part of the company’s change in strategy, opting to focus on international project business as well as further expansion as an independent power producer, it added. BayWa reported on Tuesday its preliminary results, …

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Chinese video streaming platform iQIYI to raise $600 million through convertible bonds

(Reuters) – Chinese video streaming company iQIYI Inc said on Wednesday it would raise $600 million through the issue of convertible notes and use the funds to repay debt. U.S.-listed shares of iQIYI were down nearly 7% in premarket trading. Video-streaming app Bilibili,, e-commerce group Pinduoduo and peers have recently piled into the convertible debt …

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Preiskrieg bei Auto-Batteriezellen – CATL lässt die Muskeln spielen

– von Zhang Yan und Brenda Goh und Nick Carey Shanghai/London, 1. März (Reuters) – CATL lässt die Muskeln spielen. Der weltweit größte Hersteller von Batteriezellen für E-Autos, zu dessen Kunden Volkswagen, BMW und Mercedes-Benz gehören, bietet Insidern zufolge kleineren chinesischen Autobauern Rabatte an. Analysten zufolge zielt der Schritt darauf ab, kleinere chinesische Rivalen wie …

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