Category: Business

Sweden’s Skanska (SKAb.ST) on Friday reported a jump in second-quarter profit as building activity rebounds, boosting its shares despite warning of rising pressure on its supply chain. The Nordic region’s largest builder and one of the biggest in the United States posted an operating profit of 2.34 billion crowns ($269.5 million) versus 845 million a […]

Euro zone growth and inflation could be higher this year and next than earlier predicted, the European Central Bank’s Survey of Professional Forecasters showed on Friday. Inflation, targeted at 2% by the ECB, could hit 1.9% this year, above the 1.6% predicted three months ago while 2022 inflation is now seen at 1.5% as against […]

The German economy continued its strong recovery in July with IHS Markit’s flash composite Purchasing Managers’ Index (PMI) hitting its highest level in nearly a quarter of a century, creating inflationary bottlenecks. That was fueled by strong demand, partly resulting from an easing of virus containment measures in Europe’s largest economy. Firms, facing capacity constraints, […]

A look at the day ahead from Julien Ponthus. It’s now most likely those born in the euro zone in 2011 won’t get to see an interest rate hike until their teens. Indeed, the European Central Bank said on Thursday it would not hike borrowing costs until it sees inflation reaching its 2% target. And […]

British retail sales resumed their post-lockdown recovery in June after a surprise fall in May, as soccer fans watching the Euro 2020 tournament loaded up on food and drink to enjoy at home, Britain’s statistics agency said. Retail sales volumes rose by 0.5% in June from May, the Office for National Statistics said, slightly stronger […]

France’s Thales (TCFP.PA) raised its full-year revenue target after posting first-half revenues up by 9.8% on a like-for-like basis, helping to lift the company’s share price. Europe’s largest defence electronics company, whose systems range from radar to rail, and biometric sensors to satellites, said the increase reflected a broad rebound compared with the worst stages […]

Australian casino operator Star Entertainment Group (SGR.AX) on Friday withdrew a A$9 billion ($6.6 billion) buyout proposal for rival Crown Resorts Ltd (CWN.AX) after an inquiry heard the target should lose its main licence, sending its shares lower. Star, the country’s No. 2 casino operator, said it may yet consider a tie-up with the troubled […]