PARIS (Reuters) – France has no plans for now to sell its stake in Air France-KLM (AIRF.PA) and the priority is to increase the competitiveness of the group’s French unit, Finance Minister Bruno Le Maire said on Thursday. FILE PHOTO: French Finance Minister Bruno Le Maire attends a news conference at the…
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Air France KLM CEO says state could sell stake in company: FT
PARIS (Reuters) – Air France KLM’s (AIRF.PA) new Chief Executive Benjamin Smith said the French state is prepared to sell its 14 percent stake in the airline, according to the Financial Times. FILE PHOTO: Benjamin Smith poses for a picture during a reception at the 2016 International Air Transport Association (IATA) Annual…
Comcast to stop buying Sky shares in the market
LONDON (Reuters) – Comcast, the victor in the $40 billion auction for Sky, said it had acquired 38 percent of the British pay-TV group’s shares and did not intend to make any further market purchases for now. FILE PHOTO: The NBC and Comcast logos are displayed on 30 Rockefeller Plaza in midtown…
Oil prices rise 1 percent ahead of U.S. sanctions against Iran
SINGAPORE (Reuters) – Oil prices rose by 1 percent on Thursday as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November. FILE PHOTO: A pump jack is seen at sunrise near Bakersfield, California October 14, 2014.…
Tencent & Alibaba chase remittances in battle for Southeast Asia
JAKARTA/HONG KONG (Reuters) – For Chinese tech giants Alibaba and Tencent, Southeast Asian domestic helpers in Hong Kong may prove key to their global ambitions in financial services. We Remit volunteer Jona de Cuia chats with Joslyn Pimentero, a domestic helper, at the financial Central district in Hong Kong, China September 2,…
H&M reassures on pricing after profit slide
STOCKHOLM (Reuters) – Shares in H&M (HMb.ST) rose on Thursday after the fashion retailer reassured investors that it would not need to cut costs further to shift unsold clothing despite a bigger than expected 20 percent fall in quarterly profit. FILE PHOTO: Logos of H&M are pictured on a store in Geneva,…
Trump rejects Canada leader’s request to meet, unhappy with NAFTA talks
WASHINGTON (Reuters) – U.S. President Donald Trump said he rejected Canadian Prime Minister Justin Trudeau’s request for a meeting during the UN General Assembly this week because bilateral North American Free Trade Agreement (NAFTA) talks are going poorly and the United States is unhappy with Canada’s negotiators. Trump said he would not…
Papa John’s asks potential acquirers to submit offers: sources
(Reuters) – Papa John’s International Inc (PZZA.O), the world’s third-largest pizza delivery company, has reached out to potential acquirers to ask them to submit offers, people familiar with the matter said on Wednesday. FILE PHOTO – The Papa John’s store in Westminster, Colorado, U.S. August 1, 2017. REUTERS/Rick Wilking Papa John’s has…
Timeline: Brexit at breaking point? Diary dates for Britain’s EU departure
LONDON (Reuters) – With just six months to go until the United Kingdom is due to leave the European Union, negotiations are at what Prime Minister Theresa May has called an impasse. Flags flutter in the wind with the financial district in the background, in London, Britain, September 23, 2018. REUTERS/Henry Nicholls…
Brent oil trades near four-year high, but U.S. crude retreats
TOKYO (Reuters) – Brent crude was trading around its highest in nearly four years on Wednesday, while U.S. crude futures fell as Washington tried to assure consumers that the market would be well supplied before sanctions are re-imposed on producer Iran. A pumpjack brings oil to the surface in the Monterey Shale,…
Asian shares advance as Chinese stocks extend recovery
TOKYO (Reuters) – Asian shares pulled ahead on Wednesday, as Chinese markets extended their recovery to hit eight-week highs on receding fears about the trade war as well as hopes China’s weighting in the global benchmark will be increased. FILE PHOTO: A man walks past electronic boards showing Japan’s Nikkei average (L),…
Versace takeover will bring jobs to Italy, its designer says
MILAN (Reuters) – Fashion house Versace did not receive any offers from Italian investors before selling to Michael Kors (KORS.N) but the deal with the U.S. fashion group will create jobs in Italy, creative director Donatella Versace told newspapers on Wednesday. Versace’s advertising banner is seen on Duomo cathedral in Milan, Italy,…
Factbox: Reuters surveys UK financial services jobs post-Brexit
LONDON (Reuters) – As few as 630 UK-based finance jobs have been shifted or created overseas so far ahead of Brexit, while the number of jobs that UK-based financial institutions said they expected to move in the event of a “hard” Brexit is 5,766, a Reuters survey shows. Workers are seen crossing…
Foreign airlines to face new rivals on popular China routes as restrictions ease
SHANGHAI (Reuters) – Foreign airlines that fly on 20 popular long-haul routes to China will face fresh competitive pressure as Beijing begins to ease decade-old restrictions on Oct. 1, allowing more Chinese carriers to offer service. FILE PHOTO: The inner view of a terminal hall of the new Daxing International Airport under…
Brexit and the City: A barometer for London’s financial outlook
LONDON (Reuters) – London’s skyline is changing fast, pierced by gleaming new skyscrapers which defy predictions of a Brexit-related slowdown in the capital’s two financial districts. Workers are seen crossing London Bridge with Tower Bridge seen behind during the morning rush hour in London, Britain, September 25, 2018. REUTERS/Toby Melville With only…