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Europe:Unilever buys razor-maker Dollar Shave Club

The logo of the Unilever group is seen at the Miko factory in Saint-Dizier, France, May 4, 2016. REUTERS/Philippe Wojazer/File Photo

Unilever Plc (ULVR.L) said it has agreed to buy razor-maker Dollar Shave Club in a deal that would expand the consumer goods group’s catalog of men’s grooming products. Financial terms of the deal were not disclosed in a statement released Tuesday evening. Unilever approached Dollar Shave Club for the deal and is paying $1 billion in cash for the Venice, ...

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UK faces slowest growth since 2012 after Brexit vote

uk

The International Monetary Fund  (IMF) slashed its UK outlook after the country voted to leave the European Union and forecast the economy will grow at its weakest pace since 2012 next year. The IMF said in its World Economic Outlook on Tuesday that Britain’s gross domestic product will rise 1.7% this year before expansion cools to 1.3% in 2017, the ...

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U.K:Pound rises as shares head down

down

UK shares have dipped further and the pound has edged higher as investors continue to digest the Bank of England’s latest pronouncement. On Thursday, the Bank stunned the markets by keeping interest rates on hold, following speculation that it would cut rates from 0.5% to 0.25%. At the open on Friday, the FTSE 100 was down 22.03 points at 6,632.44. ...

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Bank of England’s Carney hints again at more stimulus after Brexit

Bank of England governor Mark Carney pauses as he speaks during a news conference at the Bank of England in London, Britain July 5, 2016. REUTERS/Dylan Martinez/File Photo

Bank of England Governor Mark Carney said on Tuesday that a hit to Britain’s economy from last month’s decision by voters to leave the European Union could prompt the Bank to act, hinting again that more stimulus is on the way. “If the outlook has worsened, to use that term, in the judgment of the MPC there always could be ...

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Italy economy: IMF says country has ‘two lost decades’ of growth

italy

Italy’s economy will not return to the levels seen before the 2008 financial crisis until the mid-2020s, the IMF has said, implying “two lost decades”. By the mid-2020s, it says the economies of other eurozone members will be 20-25% larger than levels seen in 2008. The Fund’s comments came as it cut its growth forecasts for the eurozone’s third largest ...

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U.K. begins hunt for new business after dumping EU

BRE

The U.K. has just voted to divorce its biggest trade partner. Now it needs to find new markets, and quickly. Negotiations on the terms of Britain’s exit (Brexit) from the European Union will take years, and that means prolonged uncertainty for exporters. Businesses are clamoring for government to come up with a plan. Two weeks after the Brexit vote, the ...

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UK:Tata board meets to discuss UK steel

bbc

The board of Tata Steel is meeting in India to discuss the future of its UK steel operations. It is expected to “pause” the sale of the main Port Talbot plant, but go ahead with the sale of its speciality business, which employs 2,000 people in Hartlepool, Rotherham and Stocksbridge. Tata is thought to be in less of a hurry ...

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U.K.:More real estate funds stop investors withdrawing cash

uk

The U.K. market for commercial property has just been hit with another massive Brexit aftershock. Four more big asset management firms have halted trading in commercial property funds in the past 24 hours, the latest sign of turmoil since the U.K. voted to leave the European Union on June 23.  A total of seven funds have been frozen this week ...

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