Category: Europe

Oil’s rise back above $50 a barrel helped prod stock markets higher on Wednesday and company results and economic data continued to soothe worries that the world economy may be ripe for a another slowdown. European stock markets were mainly higher, led by energy and commodity-linked companies after Brent crude topped the $50 mark for…

McDonald’s, facing pressure from increased competition, says it has found a recipe for success in $1 drinks and a new line of high-end hamburgers. The fast food pioneer had its highest quarterly sales at established stores in five years in the three months to the end of June. The firm credited its turnaround efforts, which…

Luxury shoemaker Jimmy Choo has been bought by Michael Kors Holdings in a deal which values the firm at £896m. The British firm, which was put up for sale in April, had attracted attention from a number of suitors. As well as shoes, Jimmy Choo produces a range of luxury goods. Jimmy Choo shoes featured…

New diesel and petrol cars and vans will be banned in the UK from 2040 in a bid to tackle air pollution, the government is set to announce. Ministers will also unveil a £255m fund to help councils tackle emissions from diesel vehicles, as part of a £3bn package of spending on air quality. The…

The author of a government review into work practices is calling for an end to the “cash-in-hand economy”. Matthew Taylor, whose report is out on Tuesday, said cash jobs such as window cleaning and decorating were worth up to £6bn a year, much of it untaxed. The review also recommends that firms which have a…

Boeing Co (BA.N) said on Friday it delivered 183 jetliners in the second quarter, down from 199 a year earlier. The company delivered 123 of its single-aisle 737s in the latest quarter, compared with 127 in the same period a year ago. Deliveries of its 787 Dreamliners fell to 33 in the three months ended…

Deutsche Bank (DBKGn.DE) said that it is making progress in its planned partial initial public offering (IPO) of its asset management unit, according to a recent memo to staff. Germany’s largest lender announced its plans for a partial IPO of the unit in March as part of a broader restructuring of the bank reeling from…

UK inflation resumed its upward march last month, accelerating more than forecast to the fastest pace in four years. An increase in prices for computer games, laptops and package holidays – partly reflecting the impact of the weaker pound – lifted the inflation rate to 2.9%, the highest since June 2013. Economists had forecast that…

Theresa May is under growing pressure to abandon her plan for a hard Brexit as she tries to stitch together a deal with Northern Ireland’s Democratic Unionists that will keep her Conservative Party in power. Two former Tory prime ministers broke cover on Monday to demand that May reassess her approach to leaving the European…

Stocks rose on Wednesday, but worries about stretched valuations and caution before a near-certain rate hike by the U.S. Federal Reserve kept their gains in check, while the dollar steadied against a basket of major currencies. The widely expected quarter-point interest rate hike will take the Fed funds target rate above 1 percent for the…