International News

Bloomberg Spain grew more than anticipated in the final quarter of last year, indicating the euro zone’s fourth-largest economy is on track to avoid a recession even as high inflation squeezes household spending. Output rose 0.2%, according to data from the INE statistics agency published on Friday. That matches the pace in the previous quarter and exceeds the 0.1% median ...

Bloomberg Chancellor of the Exchequer Jeremy Hunt dismissed calls for tax cuts and pushed back against green energy subsidies, warning that “sound money must come first” as he argued that Brexit will drive UK economic growth. In an interview with Bloomberg TV, Hunt said: “At the moment, we don’t have the headroom for major cuts. Businesses want that, who wouldn’t? ...

  Bloomberg A record share of Londoners are shunning property portals and opting to sell their homes on their own terms — which are increasingly negotiated over WhatsApp. Almost a quarter of London homes were sold off-market in the final three months of last year, according to broker Hamptons International. That’s more than double compared to the same period of ...

  Bloomberg The UK’s battery manufacturing industry is doomed unless the government ramps up support for the sector, according to the founder of failed battery startup Britshvolt Ltd. Formerly the UK’s main hope for a homegrown supplier to the electric-vehicle industry, Britishvolt went into bankruptcy this month. The company could have been saved had the government given it only a ...

Bloomberg Tesla Inc. reported better-than expected profits in the latest quarter, even as it gave mixed signals on the outlook for growth in vehicle deliveries. The EV market leader said it would increase output “as quickly as possible” — in line with previous guidance for average annual growth of 50% over multiple years. However, Tesla said it’s on track to ...

Bloomberg SAP SE is planning to cut about 3,000 jobs this year while exploring a sale of its remaining stake in Qualtrics International Inc. as the company looks for ways to boost profit. The German software company expects adjusted operating profit for 2023 to rise to a range of €8.8 billion ($9.6 billion) to €9.1 billion at constant currencies, according ...

Bloomberg Nokia Oyj reported better-than-expected earnings, saying demand “remains robust” even amid a weaker macro-economic backdrop with phone carriers set to take a more cautious approach to spending on 5G networks. Adjusted operating profit rose 27% to €1.15 billion ($1.3 billion) for the fourth quarter, the Espoo, Finland-based mobile network company said in a statement on Thursday. That compares to ...

  Bloomberg Business confidence in Britain has sunk to its lowest level since the global financial crisis, according to a survey of accountants, amid persistently high inflation and fears that the country is already in a recession. The Institute of Chartered Accountants in England and Wales said Thursday that its latest monitor of business sentiment dropped to an index reading ...

  Bloomberg The US Federal Trade Commission filed its lawsuit to block Microsoft Corp.’s $69 billion takeover of gaming company Activision Blizzard Inc. in December partly to get ahead of its European counterparts and dissuade them from accepting a settlement allowing the deal, according to people familiar with the investigations. The FTC filed a complaint challenging the merger on Dec ...

  Bloomberg UK factories’ fuel and raw material costs are rising at their slowest pace in almost a year, further evidence that pipeline inflationary pressures are easing. Input prices rose 16.5% in December from a year ago, down from a peak of 24.6% in June, Office for National Statistics figures published Wednesday show. That was the slowest pace since February ...