LONDON (Reuters) - British finance minister Rishi Sunak plans to say in a budget speech on Wednesday that he will do "whatever it takes" to support the economy, and that the task of fixing the public finances will only begin once the country is recovering from the COVID-19 crisis. "We're using the full...
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MILAN (Reuters) - European Union countries presenting plans to speed-up rollout of high-speed telecoms network should comply with rules aimed at protecting competition, the EU Antitrust head said on Tuesday. The comments come as member states gear up to present projects eligible for the EU's 750-billion-euro Recovery and Resilience Facility (RRF) - a fifth of which will go on plans to boost...
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By Yasin Ebrahim Investing.com – The S&P 500 was flat Tuesday following its biggest one-day gain since June a day earlier, but downside, led by selling in tech, was offset by gains in materials. The S&P 500 fell 0.14%, the {169|Dow Jones Industrial Average}} rose 0.07%, or 23 points, and the Nasdaq Composite fell 0.8%. The S&P 500 rallied 2.4% on Monday,...
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By Tom Bergin and Brenna Hughes Neghaiwi LONDON/ZURICH (Reuters) - British fund Greensill Capital said it was in talks to sell large parts of its business on Tuesday after losing the backing of two asset managers who had underpinned parts of its supply chain financing model. The Softbank-backed group said in a statement it was hoping to conclude a deal with...
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Investing.com – Canada equities were higher at the close on Tuesday, as gains in the Materials, Consumer Staples and Financials sectors propelled shares higher. At the close in Toronto, the S&P/TSX Composite added 0.57%. The biggest gainers of the session on the S&P/TSX Composite were Spin Master Corp (TSX:TOY), which rose 23.88% or 6.94 points to trade at 36.00...
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LONDON (Reuters) - BP (LON:BP)'s UK chairman Peter Mather will step down at the end of the year after a decade in the role, the energy company announced on Tuesday. Mather, who is also senior vice president for Europe, will leave BP at the end of the year. He will be replaced by Louise Kingham, the longstanding CEO at...
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LONDON (Reuters) - British supply chain finance firm Greensill said on Tuesday it had entered a period of exclusivity with a "global financial institution" with a view to concluding a deal with them this week. Greensill said in a statement that the transaction is expected to include large parts of Greensill's business and its assets under management "While the...
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LONDON (Reuters) - France's banking industry body wants a new European Union law that would force non-EU banks to shift swathes of euro derivatives clearing from the City of London to Frankfurt, people familiar with the matter said. Since Britain fully left the European Union in December, trading in euro shares and swaps have moved to the bloc. Brussels is now targeting...
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By Samuel Indyk Investing.com – On Wednesday, the UK Chancellor of the Exchequer Rishi Sunak will stand in the House of Commons, open his red briefcase, and deliver a budget that is set to outline the path the UK takes, financially, over the coming months. The speech normally begins after Prime Minister’s Questions at around 12:30GMT and is expected to last around an...
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By Geoffrey Smith Investing.com -- Global financial markets got a fright last week, as the specter of inflation rattled its chains loudly at investors and central bankers around the world. It’s easy to see why: global commodity prices were surging, with copper hitting its highest in 10 years and crude oil roaring back to its highest since pandemic went global a year ago....
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