By Maria Martinez BERLIN (Reuters) – The German economy grew in the first quarter of the year, escaping a recession thanks to consumption and investment, but the unemployment rate rose to a decade high showing how economic weakness is taking its toll on the labour market. Gross domestic product rose in line with forecasts by …
By Forrest Crellin, Nora Buli and Vera Eckert PARIS/OSLO (Reuters) -Lower hydropower stocks and wind speeds in northwest Europe could raise demand for gas and coal-fired power generation this summer at a time when Europe already needs additional gas volumes to refill storage depleted after the winter. Hydro levels and snow pack are now below …
Less hydro, wind could put more strain on Europe’s gas stocks this summer Read More »
By Forrest Crellin PARIS (Reuters) – Bernard Fontana won parliamentary approval to be the next CEO of French state-owned utility EDF in a vote on Wednesday, after telling lawmakers he would prioritise domestic nuclear projects and supplying cheap power to industry. Fontana was nominated for the role of chief executive in March after President Emmanuel …
EDF’s incoming chief pledges to focus on domestic nuclear sector Read More »
DUBLIN (Reuters) -Foreign multinationals paid a record 88% of all Irish corporate tax last year, with the largest 10 firms accounting for 57% of surging receipts, according to data on Wednesday that highlighted the country’s vulnerability to U.S. policy changes. A jump in corporate tax revenue from 4.6 billion euros ($5.24 billion) in 2014 to …
Ireland’s reliance on foreign multinational taxes grew in 2024 Read More »
(Reuters) – Volkswagen has cut headcount in Germany by around 7,000 since starting its cost-cutting drive in late 2023 and reduced factory costs at the key VW brand, its CFO said on Wednesday on a call following its first-quarter results. “Rest assured that we continue to drive implementation of the agreed measures with full force,” …
Volkswagen cuts headcount by 7,000, reduces factory costs at key VW brand Read More »
By Nathan Vifflin (Reuters) -STMicroelectronics will cut around 1,000 jobs in France, it said on Wednesday, representing more than a third of the 2,800 layoffs planned by its cost-cutting program, and 9% of its France headcount. The French-Italian chipmaker also said talks with Italian employee representative bodies were ongoing. The news comes after Reuters reported …
STMicroelectronics to cut 1,000 jobs in France, Italy talks ongoing Read More »
FRANKFURT (Reuters) -Euro zone consumers are happy to ditch U.S. products if they are hit by tariffs in the course of a tit-for-tat trade war with U.S. President Donald Trump’s administration, a European Central Bank survey showed. The ECB’s Consumer Expectations Survey, conducted in March before Trump had even announced, and later paused his tariff …
Euro zone consumers happy to ditch US products if hit by tariffs, study finds Read More »
MADRID (Reuters) -Spanish Economy Minister Carlos Cuerpo on Monday maintained his expectations for solid economic growth in 2025 and 2026 despite the global trade turmoil. The government still expects the economy, which is among the top performers in Europe, to grow 2.6% in 2025 and 2.2% in 2026, he told reporters. The public debt-to-GDP ratio …
Spanish government sticks to GDP growth forecasts despite trade turmoil Read More »
(Reuters) -Online marketplace Etsy beat Wall Street estimates for first-quarter revenue on Wednesday, signaling steady demand for gifts and handcrafted goods as well as its resale apparel platform, Depop. Consumers turned to the e-commerce platform to buy items ranging from demi-fine jewelry to decor during the quarter, boosting Etsy’s sales at a time when the …
Etsy tops quarterly revenue estimates on steady demand for apparel, gifts Read More »
By Andres Gonzalez and Iain Withers LONDON (Reuters) -Deutsche Bank’s investments arm DWS is trying again to sell its stake in British water company Yorkshire Water, two sources said, betting that some recent regulatory clarity on UK water bills will help lure buyers. DWS had previously tried to sell its 23% stake in Kelda Group, …
Deutsche Bank fund arm puts Yorkshire Water stake up for sale, say sources Read More »
