(Reuters) -Italian water heating firm Ariston Holding said on Wednesday it had returned into possession of its Russian unit after President Vladimir Putin annulled last year’s decision to seize it. Russia took control of the assets of a handful of Western companies, including the Ariston unit, in April 2024, saying at the time it was …
Italy’s Ariston says Putin has given back its Russian unit Read More »
By Georgina McCartney HOUSTON (Reuters) -Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent crude futures settled up 77 cents, or 1.05%, at $73.79 a …
Oil settles up 1% on US crude and fuel stock draw, Venezuela supply worries Read More »
By Foo Yun Chee BRUSSELS (Reuters) -UBS on Wednesday lost an initial legal challenge against a 172.4-million-euro ($186 million) EU cartel fine as Europe’s second-top court largely sided with EU antitrust regulators. The European Commission in its 2021 decision, which had imposed a total fine of 371 million euros ($400 million), said Bank of America; …
UBS, UniCredit, Nomura lose court fight against EU bond cartel decision Read More »
By David French and Shadia Nasralla (Reuters) – BP is weighing the sale of minority stakes in two Gulf of Mexico projects, with each project estimated to be worth billions of dollars to the company, two sources with knowledge of the matter said on Wednesday. BP is in the midst of a strategy reset as …
BP weighs stake sales in two Gulf of Mexico projects, sources say Read More »
(Reuters) -Microsoft has abandoned data center projects set to use 2 gigawatts of electricity in the U.S. and Europe in the last six months due to an oversupply relative to its current demand forecast, TD Cowen analysts said on Wednesday. The tech giant’s withdrawal from new capacity leasing was largely led by the decision not …
Microsoft pulls back from more data center leases in US and Europe, analysts say Read More »
By Yoruk Bahceli LONDON (Reuters) – BNP Paribas expects the European Central Bank to hike interest rates by half a percentage point in the second half of next year as defence and infrastructure spending boost price pressures, it said on Wednesday. The French bank said it had revised up its euro zone growth forecasts by …
BNP Paribas expects half a percentage point of ECB hikes in 2026 Read More »
By Andy Bruce, David Milliken and Andrew MacAskill LONDON (Reuters) – British finance minister Rachel Reeves, facing a weak economy, trimmed her spending plans in a budget update on Wednesday that gave some reassurance to investors, but the risks of a global trade war could put tax hikes back on the table later this year. …
UK finance minister Reeves trims her spending plans in face of slowing economy Read More »
CAIRO (Reuters) – Egypt is expected to sign a memorandum of understanding with the European Union on previously agreed financing worth 4 billion euros ($4.3 billion) in the second half of the year, Planning Minister Rania al-Mashat said on Wednesday. The financing is part of a 7.4 billion euro funding package agreed between Egypt and …
Egypt expects to sign agreement on EU financing later in year Read More »
By Medha Singh (Reuters) -European shares closed lower on Wednesday, dragged by technology and healthcare stocks, while investors remained concerned about impending U.S. tariffs set to take effect next week. The pan-European STOXX 600 index ended 0.7% lower, making the index’s fourth decline in five trading sessions. The healthcare sub-index slipped to two-month lows, hit …
European shares end lower as US tariff deadline looms Read More »
By Ariane Luthi ZURICH (Reuters) -One of Switzerland’s main political parties could soon propose capping UBS’s investment banking activities as part of a regulatory overhaul aimed at making the sector less risky, a senior lawmaker said on Wednesday. The right-wing Swiss People’s Party (SVP), the biggest group in parliament, would pitch the plan as soon …
Swiss party plans curb on UBS investment bank as trade-off on capital rules Read More »
