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French industry minister says he supports STMicroelectronics CEO Chery

10 Apr 2025

PARIS (Reuters) – French Industry Minister Marc Ferracci said on Thursday he supported STMicroelectronics CEO Jean-Marc Chery amid allegations of insider trading by two members of its managing board. “I would like to offer my full support to Jean-Marc Chéry after the recent tensions within the STMicroelectronics Supervisory Board and the announcement of the reorganization …

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Capri aims to revive Michael Kors with lower prices, Amazon e-commerce sales

10 Apr 2025

By Ananya Mariam Rajesh and Anuja Bharat Mistry (Reuters) – Capri Holdings may have to let go of its image as a luxury fashion house and bank on mid-tier pricing as well as a partnership with Amazon.com for its Michael Kors brand following its $1.4 billion sale of Versace to Prada. After Italy’s Prada struck …

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Sterling strengthens on dollar, weakens on euro, British GDP up next

10 Apr 2025

LONDON (Reuters) – Sterling was buffeted by moves elsewhere on Thursday, jumping 1% against an under-pressure dollar and dropping more on the resurgent euro as currency markets swung in the aftermath of the previous day’s shock postponement of some tariffs. Friday may see British-specific factors take over, with February GDP data due, though it is …

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British stocks mark strongest session in three-years after Trump’s tariff reversal

10 Apr 2025

(Reuters) -British stocks closed higher on Thursday, after U.S. President Donald Trump dialled back duty rates on goods from many countries for 90 days, giving respite to investors following the global market rout. The blue-chip FTSE 100 rose 3%, posting its biggest one-day jump since March 2022. The midcap FTSE 250 index climbed 3.5%, notching …

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Relief for Spain’s feed makers as EU delays tariff on US corn

10 Apr 2025

MADRID (Reuters) – A delay to EU tariffs against U.S. goods has brought respite for Spain’s livestock feed sector that has heavily bought U.S. corn this season, including several cargoes currently at sea, the country’s feed makers association said. The European Union said earlier on Thursday it will pause for 90 days its first countermeasures …

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BMW considers boosting output at U.S. plant by up to 80,000 units

10 Apr 2025

BERLIN (Reuters) -German automaker BMW is considering adding shifts to its Spartanburg plant in South Carolina to boost output by up to 80,000 units, executives said on an analyst call on Thursday, as carmakers brainstorm ways to appease the Trump administration and ward off a mounting trade war. The premium carmaker had around 30 days’ …

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UK energy regulator may reject penalty exemption for National Grid-SP Energy joint venture

10 Apr 2025

By Raechel Thankam Job (Reuters) -Britain’s energy regulator Ofgem does not believe an electricity transmission project developed by National Grid Electricity Transmission and SP Energy Networks qualifies to be exempt from penalties related to delays, it said on Thursday. The joint venture between the units of National Grid and Spain’s Iberdrola had requested a 480-day …

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Portugal rolls out $11 billion package to help economy weather US tariffs

10 Apr 2025

By Sergio Goncalves LISBON (Reuters) -Portugal’s caretaker government rolled out a package of loans and other measures worth more than 10 billion euros ($11.1 billion) on Thursday to help the economy weather the impact of U.S. trade tariffs. “The world we knew has changed, we have to adapt and react, there is no certainty about …

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French audit office says keeping pension system unchanged is impossible

10 Apr 2025

PARIS (Reuters) – France cannot afford not to reform its pension system and it should look at how to get people working for longer and make changes to how pensions are indexed to inflation, the independent audit office said on Thursday. Prime Minister Francois Bayrou has tasked the Cour des Comptes with analysing how the …

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ECB warns about financial risk coming from shadow banks

10 Apr 2025

FRANKFURT (Reuters) – The European Central Bank is particularly concerned about financial stress spreading from non-bank financial firms to regular lenders in periods of market stress, ECB supervisor Sharon Donnery said on Thursday. Non bank financial intermediaries, often called shadow banks, have grown in size over the past several but face laxer regulation and also …

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