FLORENCE, Italy (AP) — Florence is famed for its contributions to Italian art, architecture and cuisine. But these days, local leaders in the city regarded as the birthplace of the Renaissance are concerned with more mundane matters: paying the bills. Amid soaring energy costs across Europe, officials at Palazzo Vecchio — the building that serves…
(Reuters) – Metro Bank reported on Wednesday a smaller loss and higher margins for 2021, as the British high-street lender’s turnaround actions bear fruit and the economy recovers from the COVID-19 pandemic’s impact. The London-based bank, who in 2010 became the first lender to be granted a high-street banking licence in Britain in 150 years,…
KYIV, Ukraine (AP) — One by one, embassies and international offices in Kyiv closed. Flight after flight was canceled when insurance companies balked at covering planes arriving in Ukraine. Hundreds of millions of dollars in investment dried up within weeks. With Russian troops encircling much of the country, Ukrainian businesses large and small no longer…
(Reuters) – Upmarket fashion retailer Ted Baker reported higher fourth-quarter sales on Wednesday as demand for office and party wear remained strong even in the face of Britain’s pandemic-related curbs during the reporting period. The group’s sales, including online and in-store sales, jumped 35% in the 12 weeks ended Jan. 29, a period in which…
PARIS (Reuters) – Hollywood actor Leonardo DiCaprio has bought an equity stake in French champagne house Telmont, its majority owner, Remy Cointreau, said on Wednesday, as luxury brands strike partnership deals with celebrities to broaden their appeal. “From protecting biodiversity on its land, to using 100% renewable electricity, Champagne Telmont is determined to radically lower…
By Twinnie Siu and Donny Kwok HONG KONG (Reuters) – Hong Kong will offer tax breaks, handouts and subsidies to small businesses and residents, to mitigate the impact of the most stringent social restrictions imposed in the city to curb the spread of COVID-19, Finance Secretary Paul Chan said. The 2022/23 budget proposals were announced…
BEIJING (AP) — Asian stock markets plunged and oil prices surged to nearly $100 a barrel Thursday after President Vladimir Putin announced Russian military action in Ukraine. Market benchmarks in Tokyo and Seoul fell 2%. Hong Kong and Sydney lost more than 3%. Oil prices jumped more than $4 on anxiety about possible disruptions of…
(Reuters) – Wells Fargo & Co said on Tuesday U.S. government agencies, including the Department of Labor, are reviewing certain transactions in the bank’s 401(k) plan. The fourth-largest U.S. bank said in a filing that federal government agencies “are reviewing certain transactions associated with the employee stock ownership plan feature of the company’s 401(k) plan,…
SHANGHAI (Reuters) – China’s Lenovo Group, the world’s biggest maker of personal computers, reported a 62% rise in third-quarter profit on Wednesday. Profit for the quarter ended Dec. 31 jumped to $640 million from $395 million in the same period a year earlier. (Reporting by Brenda Goh; Editing by Himani Sarkar)
By Jonnelle Marte (Reuters) – Small businesses continue to struggle financially and many are facing greater challenges with managing supply chain challenges and hiring enough workers, according to a survey released Tuesday by the Federal Reserve. While some small businesses have seen their revenues increase, the recovery has been uneven, with smaller firms and those…
