Newscasts - Europe Today: Business sentiment in the UK plunged at the fastest rate in two years

CFM Holdings

28/11/2024 11:00

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_4zvmxi48&referenceId=1_4zvmxi48&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: Business sentiment in Britain's services sector is falling at the
fastest rate in two years, partly as a result of tax rises in finance minister
Rachel Reeves' first budget
Short Link: https://refini.tv/4i6YZm1

Video Transcript:

Business sentiment in the UK plunged at the fastest rate in two years. Welcome
to Europe Today. I'm Ludovica Brignola. Business sentiment in Britain's
services sector is falling at the fastest rate in two years and that's partly
as a result of tax rises in Finance Minister Rachel Reeves's first budget as
the Confederation of British Industry has said. The downturn was sharpest in
consumer services, where large employers will bear the brunt of a GBP25
billion rise in payroll taxes. And tech shares led the gains as Europe's main
stock indices opened higher on Thursday, rebounding from a two day fall that
was steered by economic and political instability in France and the prospects
of US tariffs. The FTSE 100, on the other hand, was little changed. Well,
let's take a look at fixed income and. French government bonds held steady on
Thursday, as the market regained a sense of calm after the previous day's
sell-off drove the risk premium over German bonds to its highest since the
2012 debt crisis. Telefonica Germany and Amazon Web Services are working on a
pilot to test quantum technologies and the telecom operator’s mobile
network. AWS and Telefonica will look to calculate the optimal placement of
mobile towers, find ways to secure the network with quantum encryption and use
the insights to develop 6G networks. Remy Cointreau said first half operating
profit fell less than feared despite lower sales, thanks mostly to cost cuts.
This is providing some relief to the embattled spirits maker facing tariffs in
its key US and Chinese markets. British insurer Direct Line insurance has
rejected a takeover offer of GBP3.28 billion from bigger rival Aviva, saying
it substantially undervalued the company. Aviva has made a 250p per share
offer, which represented a nearly 60% premium to the stocks close a day
earlier. And jet engine maker CFM has agreed to divert some engines to Airbus
in order to narrow a supply gap. The plane maker is currently battling to hit
end of year targets as three sources have said. And that's it from Europe
Today