(Reuters) -Intel is set to unveil plans this week to slash more than 20% of its workforce, in a move to streamline operations and reduce bureaucratic inefficiencies, Bloomberg News reported on Tuesday, citing a person with knowledge of the matter. The layoffs are part of a broader strategy to refocus on an engineering-driven culture, according …
Intel to lay off more than 20% of workforce, Bloomberg News reports Read More »
By Maria Martinez BERLIN (Reuters) -German state coffers got a strong boost in March despite weak economic growth, according to fiscal revenue data published by the finance ministry on Wednesday, with wage growth emerging as a key booster but only for the time being. Federal and state government tax revenue rose by 11.1% year on …
German tax revenue surges in March but ‘lean times’ ahead Read More »
By Sinead Cruise and Lawrence White LONDON (Reuters) -The chair of NatWest Group said on Wednesday its upcoming exit from state ownership represented an “inflection point” for the bank, and that it plans to focus on growth after a near 66% rise in its share price in the last year. NatWest is poised to return …
NatWest chair says state exit an ‘inflection point’ for the bank Read More »
By Yadarisa Shabong (Reuters) -Sterling recovered from early losses against the dollar on Wednesday, brushing off data showing UK business activity weakened by the most in more than two years due to global trade tensions. The pound was flat on the dollar at $1.3337, and was also little changed against the euro at 85.71 pence …
By Marleen Kaesebier (Reuters) -Swiss banking software company Temenos had some deals delayed last month because of U.S. President Donald Trump’s April 2 tariff announcement, but they were coming through now and the group’s U.S. growth plans were on track, its finance chief said on Wednesday. Temenos shares fell more than 4% after it reported …
Temenos catching up on deals delayed by Trump tariffs uncertainty, CFO says Read More »
By Pratima Desai LONDON (Reuters) -Prices of battery materials lithium and cobalt assessed by consultancy Benchmark Minerals Intelligence (BMI) will be used for contracts launched by Intercontinental Exchange (ICE) in June, BMI told Reuters. For BMI, a price reporting agency (PRA), this is an important step in having its prices used to settle derivative contracts …
Benchmark Minerals and ICE team up for battery material futures Read More »
LISBON (Reuters) – Portugal will ask the European Commission to activate the so-called fiscal escape clause to allow for higher defence spending worth up to 1.5% of gross domestic product, the finance ministry said on Wednesday, one of the first member states to do so. European countries are under pressure from U.S. President Donald Trump, …
Portugal asks EU to activate fiscal leeway for defence spending Read More »
By Jonathan Cable LONDON (Reuters) -European business growth has stalled this month, surveys showed on Wednesday, with erratic U.S. trade policy appearing to take a heavy toll on sentiment – though not yet on output itself. Activity in the euro zone’s and Britain’s dominant services industries contracted and the prolonged downturns they have seen in …
European business growth stalls in April, PMIs show Read More »
FRANKFURT (Reuters) -Wage growth in the euro zone is expected to ease considerably this year, according to data from the European Central Bank released on Wednesday. The ECB’s wage tracker, which covers active collective bargaining agreements, sees wage growth with smoothed one-off payments slowing to 3.1% in 2025 after 4.8% in 2024. Wage development in …
ECB expects wage growth to ease considerably this year Read More »
(Reuters) -Shares in SAP, Europe’s largest software maker, surged 8.5% on Wednesday after the German company exceeded first-quarter profit forecasts, benefiting from cost cuts and defying business uncertainty from U.S. tariffs. The stock’s gain at 0735 GMT put it on track for its biggest one-day increase in more than five years, recovering some of the …
SAP shares surge as first-quarter earnings beat market view on cost discipline Read More »
