Weak investment, trade drive second quarter contraction in German economy

Reuters UK Business News - 1 hour 39 min ago
BERLIN (Reuters) - Weak investment spending and slow trade led Germany to contract for the first time in over a year in the second quarter, data showed, suggesting Europe's largest economy is running out of steam just as the impact of the crisis in Ukraine starts to bite.

Tesco tumbles again as FTSE edges lower

Reuters UK Business News - 2 hours 27 sec ago
LONDON (Reuters) - Britain's top equity index edged lower on Monday, as another sharp fall in the share price of supermarket retailer Tesco pegged back the overall stock market.

Top UK fund manager Neil Woodford sells HSBC stake

Reuters UK Business News - 2 hours 12 min ago
LONDON (Reuters) - Neil Woodford, one of Britain's most high-profile fund managers, said he has sold his fund's stake in banking group HSBC , citing concerns over the potential impact on the company of several industry-wide probes.

China manufacturing slowdown ripples through region

Reuters UK Business News - 2 hours 14 min ago
SYDNEY (Reuters) - Growth in China's vast factory sector slackened in August as foreign and domestic demand slowed, stoking speculation that further policy easing would be needed to prevent the economy from stumbling once more.

Europe holds nerve as Russia-Ukraine warnings ratchet up

Reuters UK Business News - 2 hours 19 min ago
LONDON (Reuters) - European markets cautiously set aside warnings that Russia's conflict with Ukraine was sliding out of control on Monday, as investors focused on the European Central Bank's meeting this week and hopes it will strengthen its stimulus plans.

French car sales drop on weak August demand

Reuters UK Business News - 2 hours 28 min ago
PARIS (Reuters) - French car sales fell 3 percent in August, a seasonally weak vacation month, the country's main automotive industry association said on Monday.

UK mortgage approvals fall as expected in July

Reuters UK Business News - 2 hours 36 min ago
LONDON,(Reuters) - British mortgage approvals fell slightly in July, matching expectations, according to official data on Monday that pointed to some moderation in the housing market.

Japan aims to double India investment in five years - Nikkei

Reuters UK Business News - 2 hours 48 min ago
TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe will tell his Indian counterpart Narendra Modi at a summit on Monday that Japan aims to double its direct investment in India in five years from some $2 billion (1.2 billion pounds) last year, the Nikkei business daily reported.

French manufacturing shrinks at fastest rate in 15 months in Aug - PMI

Reuters UK Business News - 3 hours 14 min ago
PARIS (Reuters) - French manufacturing activity shrank at the fastest pace in 15 months in August as new orders, employment and stocks of purchases all contracted more sharply, a survey showed on Monday.

Blavatnik's Access Industries bids to buy all of Perform

Reuters UK Business News - 4 hours 20 sec ago
LONDON (Reuters) - Len Blavatnik's investment group Access Industries said on Monday it planned to buy out the rest of Perform that it did not already own, valuing the entire sports rights firm at 701.6 million pounds.

Spain's Caixabank eyes 150 million euro synergies from Barclays deal

Reuters UK Business News - 4 hours 13 min ago
MADRID (Reuters) - Spain's Caixabank said on Monday that its acquisition of Barclays' retail and corporate banking operations in the country would bring around 150 million euros (118.45 million pounds) in gross cost savings by 2016.

Germany posts budget surplus as pressure rises to boost growth

Reuters UK Business News - 4 hours 22 min ago
BERLIN (Reuters) - Germany posted a budget surplus of 16.1 billion euros (12.71 billion pounds) in the first half of 2014, highlighting the strength of the country's finances at a time when Berlin faces pressure to loosen the fiscal reins and spend more to boost flagging growth in Europe.

UK businesses in favour of a new deal with European Union - survey

Reuters UK Business News - 4 hours 32 min ago
(Reuters) - More than half of UK businesses are in favour of re-negotiating their relationship with the European Union, according to a British Chambers of Commerce survey.

China gives Microsoft 20 days to provide explanation in anti-trust probe

Reuters UK Business News - 5 hours 9 min ago
BEIJING (Reuters) - A Chinese anti-trust regulator said on Monday it has given Microsoft Corp 20 days to reply to queries on the compatability of its Windows operating system and Office software suite amid a probe into the world's largest software company.

South Africa's Bidvest FY profit up 11 percent, lags consensus

Reuters UK Business News - 5 hours 22 min ago
JOHANNESBURG (Reuters) - South Africa's second biggest company by revenue Bidvest Group reported an 11 percent rise in annual profit on profit on Monday, helped partly by favourable currency swings.

Indian factory activity expands at slower clip in August

Reuters UK Business News - 6 hours 2 min ago
BANGALORE (Reuters) - Indian factory growth eased in August from July's 17-month record pace as new orders came in at a slower clip, a business survey showed on Monday.

Weak data to test BOJ's rosy economic view, policy on hold

Reuters UK Business News - 6 hours 13 min ago
TOKYO (Reuters) - The Bank of Japan will maintain its existing stimulus policy and optimistic economic view on when it meets on Thursday, sources say, preferring to take more time to gauge whether a run of weak data is sufficient to threaten a fragile recovery.

China's parliament authorises local governments to issue bonds

Reuters UK Business News - 7 hours 31 sec ago
SHANGHAI (Reuters) - China's parliament has formally approved changes to the budget law allowing local governments to issue bonds directly, a reform that could help stabilise government financing by creating the country's first municipal bond market.

New Apple iPhone to have 'mobile wallet' function - Bloomberg

Reuters UK Business News - 7 hours 15 min ago
(Reuters) - Apple Inc plans to enable its next iPhone to become a mobile wallet by allowing owners to securely make mobile payments in a store with the touch of a finger, Bloomberg said on Sunday, citing a person familiar with the situation.

China's official PMI slips to 51.1 in August

Reuters UK Business News - 7 hours 31 min ago
BEIJING (Reuters) - An index of growth in China's vast manufacturing sector fell from a 27-month high to 51.1 in August, a government study showed on Monday, slightly less than forecast and adding to signs of growing softness in the Chinese economy.