Category: Europe

Activity in the UK’s service sector accelerated in April, with new work growing at its fastest pace this year, according to a closely-watched survey. The Markit/CIPS purchasing managers’ index (PMI) for services rose to 55.8, its highest level for four months. It has now been above the 50 level that marks the divide between growth…

London’s progress as a financial center could stall because of the upheaval Brexit will bring to the industry, Goldman Sachs (GS.N) Chief Executive Officer Lloyd Blankfein was quoted as saying by the BBC. When asked whether London’s long-term expansion over the past three decades would go into reverse, Blankfein said: “I don’t think it will…

French bank Societe Generale (SOGN.PA) and the Libyan Investment Authority (LIA) have signed a confidential agreement to settle a legal dispute regarding a case focused on five trades totaling $2.1 billion, executed between 2007 and 2009. “Societe Generale and the Libyan Investment Authority (LIA) jointly announce that they have signed a confidential settlement agreement that…

In the scorching heat of the Caribbean Sea, workers in scuba suits scrub crude oil by hand from the hull of the Caspian Galaxy, a tanker so filthy it can’t set sail in international waters. The vessel is among many that are constantly contaminated at two major export terminals where they load crude from Venezuela’s…

The head of security at Barclays faces an internal disciplinary probe over his part in a whistleblowing inquiry, the BBC understands. UK financial regulators have opened an investigation into Barclays boss, Jes Staley, over the whistleblowing case. Mr. Staley asked the bank’s security chief, Troels Oerting, to find the author of an anonymous letter. The…

A break in alarming political news lifted European stocks on Wednesday and cooled a safe-haven rally that saw the yen and gold at five-month highs and top-rated government bond yields at their lowest this year. The mood remained skittish though, tarnishing an otherwise brightening outlook for global economic growth, and meant that what looked set…

The British government is prepared to intervene in consumer markets to reduce costs for bill payers, Prime Minister Theresa May said on Thursday. “We believe in the good that government can do – locally and nationally,” May said at the launch of her Conservative Party’s local election campaign. “So where consumer markets are not working…

Ground staff at Berlin’s two airports have gone on strike for the second time in four days, forcing the cancellation of hundreds of flights. The ver.di union called on staff at the Tegel and Schoenefeld airports to walk out from 4 a.m. (0300 GMT) Monday until 5 a.m. (0400 GMT) Tuesday. The strike follows a…

Complex talks to prepare the U.K.’s departure from the European Union could begin this week with lawmakers expected to finish debating a bill that would give Prime Minister Theresa May permission to formally start the Brexit process. The government has previously stated that May would trigger Article 50 by the end of the month, but…

Mobile operator Vodafone will create 2,100 new customer service jobs across Britain in the next two years as part of an investment drive to improve operations in its home market. The world’s second-biggest mobile operator, which competes with BT’s EE, Telefonica’s O2 and Hutchison’s Three in Britain, has been struggling in the market with a…