By Carolyn Cohn LONDON (Reuters) – British life insurer Phoenix set a target to generate around 1.5 billion pounds ($1.83 billion) in long-term cash from new business by 2025 on Tuesday, as it looks to build on growing demand for corporate pensions insurance deals. Phoenix specialises in managing books of life insurance business which are …
British life insurer Phoenix targets pensions as sets new cash goal Read More »
LONDON (Reuters) – Growth in Britain’s construction industry slowed to a crawl in November as high borrowing costs and the gloomy economic outlook crimped building work, a survey showed on Tuesday. The S&P Global/CIPS UK Construction Purchasing Managers’ Index (PMI) fell to a three-month low of 50.4 from 53.2 in October, barely above the 50 …
UK construction growth ebbs away as economy falters: PMI Read More »
JAKARTA (Reuters) – The Indonesia Investment Authority (INA), the country’s sovereign wealth fund signed an agreement with the Investment Fund for Developing Countries (IFU) of the Kingdom of Denmark for potential joint investments of up to $500 million, according to the joint statement published on Tuesday. The framework agreement will explore investment opportunities in green …
(Corrects fund manager’s surname in last paragraph) By Anushka Trivedi MUMBAI (Reuters) – Foreign investors are buying into Indian financial firms, lured by the prospects of a fresh credit cycle that may boost the stocks of the country’s largest lenders. Indian shares are trading at a record-high valuation premium to their Asian counterparts, BNP Paribas …
Foreign equity funds pile into Indian financials as credit cycle picks up Read More »
OSLO (Reuters) – Norwegian companies see a further deterioration in their outlook for the next six months, a central bank survey showed on Tuesday. “Looking ahead, contacts expect lower activity owing to rapidly rising prices and costs, higher interest rates and a decline in new public sector orders,” the central bank said in a statement. …
Norway companies see weaker outlook, central bank survey shows Read More »
(Reuters) – Britain’s Ashtead Group Plc forecast full-year revenue ahead of its expectations on Tuesday, encouraged by strong demand for rental equipment across its markets, as clients cut back on buying to lower capital expenditure. Companies tend to cut back spending on equipment and rent them out instead during difficult periods to lower their capital …
Equipment rental giant Ashtead shares lifted by upbeat revenue outlook Read More »
PARIS (Reuters) – Royal Schiphol Group has sold off its remaining stake in French airports company Aeroports de Paris (ADP), ADP said on Tuesday, prompting ADP’s shares to slump as the sale took place at a sharp discount to ADP’s recent share price. ADP said Royal Schiphol had sold off the shares at a price …
STOCKHOLM (Reuters) – Swedish companies have not raised consumer prices by more than is motivated by the growing costs they face, a report published by the National Institute of Economic Research (NIER) said on Tuesday. With inflation at 30-year highs this year, the previous government in August asked the think tank to look at whether …
Swedish prices have not risen more than motivated by costs, think tank says Read More »
By James Davey LONDON (Reuters) – British grocery inflation edged lower in November, a first decline in nearly two years, but remained near record highs, providing little relief for consumers ahead of the key Christmas trading period, industry data showed on Tuesday. Market researcher Kantar said grocery inflation in the four weeks to Nov. 27 …
Britain’s grocery inflation falls for first time in 21 months -Kantar Read More »
MOSCOW (Reuters) – Russia’s No. 2 bank VTB was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data remained safe. State-owned VTB said it was repelling the distributed denial of service (DDoS) attack, in …
Russian state-owned bank VTB hit by largest DDoS attack in its history Read More »
