04 December

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Ex-chairman of Huachen, parent of BMW’s China partner, under investigation – graft watchdog

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BEIJING (Reuters) - The former chairman of Huachen Automotive Group Holdings, parent of BMW AG's joint venture partner Brilliance China, is under investigation for suspected violation of discipline, China's graft watchdog said on Friday. A Chinese court has accepted an application from a creditor of Huachen seeking the restructuring of the state-owned company, which defaulted on 6.5 billion yuan ($987.48 million) in...

04 December

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Primark looks to recoup $579 million of sales lost to lockdowns

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By James Davey LONDON (Reuters) - Primark owner Associated British Foods (LON:ABF) raised its estimate of lost sales due to COVID-19 lockdowns this autumn to 430 million pounds ($579 million) but said it was hopeful of making up some of the shortfall with "phenomenal" pre-Christmas trading. The group, which had previously forecast a 375 million pound sales hit from forced store...

04 December

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Sabadell eyes more job cuts, alliances after BBVA deal collapses

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By Jesús Aguado and Iain Withers MADRID/LONDON (Reuters) - Sabadell is considering more job cuts and striking product distribution alliances with other European banks after merger talks with rival BBVA (MC:BBVA) fell through last week, according to four sources with knowledge of the matter. Shares in the mid-sized Spanish lender slumped after the pair failed to agree on the price of...

04 December

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Daily Briefing: Payrolls Friday

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By Sujata Rao Poland seems ready to drop its veto on the EU's 1.8 trillion-euro stimulus package -- possibly the bloc's threat to proceed without Poland and Hungary worked? It's a positive, even if few ever believed the duo could torpedo such a crucial development. Other good news: German industrial orders rose more than expected in October, though lets not forget it's...

04 December

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EU 27 must all approve any UK trade deal, top official says

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By Gabriela Baczynska BRUSSELS (Reuters) - The European Union is still negotiating a trade deal with Britain, a top official with the bloc said on Friday morning, stressing that any agreement that may emerge between negotiators must still be approved by the 27 member states. European Council President Charles Michel said the next few days will show what comes next and the...

04 December

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European Stocks Mostly Higher; BioNTech Weakens on Vaccine Supply Concerns

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By Peter Nurse Investing.com - European stock markets traded mostly higher Friday, helped by increasing confidence of a U.S. stimulus package that is reinforcing the positive sentiment generated by the rollout of Covid-19 vaccines. At 3:45 AM ET (0845 GMT), the DAX in Germany traded largely flat, the CAC 40 in France rose 0.4% and the U.K.'s FTSE index climbed 0.7%. Global stock...

04 December

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UK car sales drop by more than a quarter amid lockdown

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LONDON (Reuters) - British new car registrations slumped by an annual 27.4% in November, according to industry data released on Friday, as England spent most of the month in a second national lockdown, shutting showrooms. Sales stood at 113,781 cars as 'click and collect' and delivery options were used, the Society of Motor Manufacturers and Traders (SMMT) said. "With...

04 December

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Analysis: As stocks soar, government shutdown looms amid pandemic

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By Saqib Iqbal Ahmed NEW YORK (Reuters) - Investors worried about whether a looming government shutdown could slow U.S. stocks' recent surge can take comfort in history: markets have tended to shrug off shutdowns despite their potentially nasty economic impact. Since 1984, the S&P 500 has averaged a 1.3% gain during government shutdowns, having edged lower in only two out of the...

04 December

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‘They don’t need me now’: COVID impact forcing Britons to food banks

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By Natalie Thomas LONDON (Reuters) - British food banks are seeing more families needing their support as the impact of the COVID-19 pandemic forces struggling people to seek help, charities and volunteers say. Lockdowns and other measures to curb the spread of the coronavirus have forced businesses to close or lay off staff. The rise in those out of work has resulted...

04 December

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Berkeley Group first half profit drops 16% as home sales slide

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(Reuters) - British housebuilder Berkeley Group on Friday posted a 16.6% fall in first-half profit as home sales were dented by the COVID-19 pandemic and said the coming months would be crucial to gauge the impact of new lockdowns and Brexit. The company, which operates primarily in London, Birmingham and the South of England, said pretax profit fell to 230.8 million...

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News

Ex-chairman of Huachen, parent of BMW’s China partner, under investigation – graft watchdog

Primark looks to recoup $579 million of sales lost to lockdowns

Sabadell eyes more job cuts, alliances after BBVA deal collapses

Daily Briefing: Payrolls Friday

EU 27 must all approve any UK trade deal, top official says

European Stocks Mostly Higher; BioNTech Weakens on Vaccine Supply Concerns

UK car sales drop by more than a quarter amid lockdown

Analysis: As stocks soar, government shutdown looms amid pandemic

‘They don’t need me now’: COVID impact forcing Britons to food banks

Berkeley Group first half profit drops 16% as home sales slide

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