Article content (Bloomberg) — UBS Group AG said heirs joining the ranks of the world’s richest over the past year had racked up more wealth than newly-minted self-made billionaires, in a sign that the transfer of family fortunes is becoming an ever-larger factor in the distribution wealth. Of the 137 people who became billionaires last […]
Breadcrumb Trail Links PMN Business Your morning roundup of key UK business news just in Author of the article: Bloomberg News Leonard Kehnscherper Published Nov 30, 2023 • 3 minute read Join the conversation Article content (Bloomberg) — Hi, I’m Leo from Bloomberg’s UK Breaking News team, catching you up on this morning’s business stories. Dr. […]
Article content (Bloomberg) — France’s economy unexpectedly shrank in the third quarter while November inflation sank more than anticipated — prompting investors to step up bets that the European Central Bank will cut interest rates in the spring. While output had remained relative strong as Germany suffered the brunt of a manufacturing slowdown, French statistics […]
Article content (Bloomberg) — Germany has a potential hole in its 2024 budget of as much as €24 billion ($26.4 billion), though the exact figure is still very much up in the air, according to a senior lawmaker from Chancellor Olaf Scholz’s ruling coalition. The government in Berlin has been forced to overhaul its finance […]
Article content (Bloomberg) — Honda Motor Co. will invest ¥500 billion ($3.4 billion) in its electric motorcycle business by 2030 and has raised its target for their annual sales to 4 million units for that year, up from a previous goal of 3.5 million. The company plans to introduce 30 new electric motorcycle models worldwide […]
Article content (Bloomberg) — UK development bank British International Investment is still willing to consider funding energy projects in Africa that run on natural gas if they increase electricity access on the continent, according to officials. As the world gears up for the next round of United Nations Climate talks, which start in Dubai on […]
Article content (Bloomberg) — UK inflation is becoming more “home-grown” and will be “challenging to squeeze out of the system,” according to Bank of England Deputy Governor Dave Ramsden. Speaking in a Bloomberg TV interview from Hong Kong, Ramsden said monetary policy would have to stay “restrictive for an extended period of time” in order […]
Article content (Bloomberg) — The world’s best-performing IPO stock this year is a little known Indonesian coal mining company that’s backed by one of Southeast Asia’s richest men. PT Petrindo Jaya Kreasi has soared more than 2,900% since it listed in March following a $25 million offering. Yet it still has no analyst coverage, is […]
Article content (Bloomberg) — Kenya has dropped plans to tap international capital markets this fiscal year due to the high cost of dollar debt, according to Treasury Secretary Njuguna Ndung’u. The East African nation will seek cheaper concessional funding instead, Ndung’u told the state-run MyGov newspaper. It will return to international debt markets “when conditions […]
Article content (Bloomberg) — Bank of England Governor Andrew Bailey suggested that interest-rate cuts are unlikely for the “foreseeable future” as he warned that the second half of the inflation battle will be “hard work.” He said in an interview with the Newcastle Chronicle newspaper published Monday that the recent step down in UK inflation […]