MOSCOW (Reuters) – Russia and Qatar signed an agreement on Thursday under which each country will pay an extra 1 billion euros ($1.14 billion)into a joint investment fund, a Russian official said. “This is an agreement to expand our investment platform with Qatar by the amount of about two billion euros, one billion euros from …
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MILAN (Reuters) – The Italian government has chosen a former top manager of power network company Terna, Agostino Scornajenchi, to succeed Stefano Venier as CEO of gas grid group Snam, state lender Cassa Depositi e Prestiti (CDP) said on Thursday. Prime Minister Giorgia Meloni’s right-wing administration controls Snam through CDP. Venier was appointed when the …
Italy picks former Terna CFO Scornajenchi to run gas grid group Snam Read More »
By Valentina Za SIENA, Italy (Reuters) – Shareholders in Monte dei Paschi di Siena (MPS) on Thursday approved a new share issue needed to finance a hostile 12 billion euro ($14 billion) buyout offer for Mediobanca. MPS unveiled the surprise all-share bid in January, shocking Italian finance with a bold move that pitted a lender …
Monte dei Paschi recovers from near collapse to bid for Mediobanca Read More »
PARIS (Reuters) – LVMH shareholders on Thursday voted to allow Bernard Arnault, 76, to remain at the helm of the world’s largest luxury group until he’s 85. The shareholders approved a change to company bylaws that raises the maximum age of its chairman and chief executive officer from 80 in a resolution that passed with …
LVMH shareholders agree Bernard Arnault can remain CEO until he is 85 Read More »
By Lawrence White LONDON (Reuters) -Barclays has agreed terms for Brookfield Asset Management to buy most of its British payments business, the bank said on Thursday, ending a more than year-long effort to offload the business which processes payments for retailers. Under the complex terms of the deal, the two parties will create a standalone …
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LONDON (Reuters) – The European Central Bank cut interest rates for the seventh time in a year on Thursday, looking to prop up an already struggling euro zone economy that will take a knock from U.S. tariffs. Policymakers were unanimous in approving the cut on Thursday, as even some of the more hawkish rate setters …
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FRANKFURT (Reuters) – The European Central Bank cut interest rates as expected on Thursday, easing for the seventh time in the past year as U.S. tariffs and faltering business confidence sap already weak economic growth. Arguing that inflation is well on its way to the 2% target, the central bank for the 20 nations sharing …
ECB cuts rates as tariffs to hits already weak growth Read More »
FRANKFURT, April 17 (Reuters) – Following is the statement from the European Central Bank following its policy meeting. The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the …
TEXT-Statement from the ECB following policy meeting Read More »
MOSCOW (Reuters) – Russia’s General Prosecutor’s office has submitted a claim in a Moscow court against Germany’s Wintershall Dea, threatening a fine of 7.5 billion euros ($8.5 billion) in case it pursues international arbitration, news agencies reported on Thursday. The Moscow Arbitration Court’s website showed a claim against the company, as well as Aurelius Cotta, …
MOSCOW/SINGAPORE (Reuters) – Russia is ramping up shipments of oil products to Indonesia as Moscow seeks to expand new markets for its exports in the wake of Western sanctions imposed over its invasion of Ukraine, market sources said and LSEG data showed on Thursday. Since a full European Union embargo on imports of Russian oil …
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