LONDON (Reuters) – Ending Britain’s Digital Services Tax levied on large tech companies such as Google and Amazon would disadvantage traditional retailers, exacerbating the need for business rates reform, the boss of home improvement retailer Kingfisher said. Britain introduced its Digital Services Tax in 2020, levied at 2% of the gross revenue large digital companies …
BRUSSELS (Reuters) – The European Commission on Tuesday said it would tighten import restrictions on steel from next month in a bid to shield the ailing European steel sector from surging imports. The EU will reduce import quotas, known as safeguards, limiting the amount of steel that can be imported into the bloc of 27 …
By Giancarlo Navach and Elvira Pollina MILAN (Reuters) -Poste Italiane is a suitable partner for Telecom Italia (TIM), a Treasury official said on Tuesday when asked if the state-backed financial conglomerate could replace France’s Vivendi as TIM’s single largest investor. Vivendi last week cut its stake in the Italian telecoms operator to 18.4% from 23.8%, …
Poste fit to be key TIM investor as Vivendi cuts stake, official says Read More »
MOSCOW (Reuters) – Shareholders of Russian retail group O’Key have approved the company’s redomiciling from Luxembourg to Russia, the group said on Tuesday. (Reporting by Olga Popova, Editing by Louise Heavens)
LONDON (Reuters) – Tom Hayes, the first trader ever jailed for interest rate rigging, launched a bid to clear his name at Britain’s top court on Tuesday, arguing it was not automatically dishonest to take into account commercial considerations when making Libor submissions. Hayes, 45, a former star Citigroup and UBS trader, was convicted in …
Trader Hayes takes Libor rate-rigging appeal to UK top court Read More »
(Reuters) – Schneider Electric said on Tuesday it plans to invest over $700 million in its U.S. operations over the next two years amid tariff threats that could affect the French electrical equipment maker. The company said the investment, to be made through 2027, will focus on bolstering the U.S. energy infrastructure to power AI …
Schneider Electric to invest over $700 million in US to power AI boom Read More »
By Robert Harvey LONDON (Reuters) – European oil refineries will have to adapt to the energy transition or face a heightened risk of closure by 2035, a panel of executives said at the Financial Times Commodities Global Summit in Lausanne on Monday. European refiners must confront a drop in demand for road fuels as electrification …
More European oil refineries to close, convert in next 10 years, panel says Read More »
By Julia Payne BRUSSELS (Reuters) -The European Commission published a list of 47 strategic projects on Tuesday to boost the EU’s production of 14 of the 17 materials it deems critical for its energy transition and security. The list is part of the implementation of the Critical Raw Material Act agreed in 2023 in which …
EU announces list of 47 strategic metals projects Read More »
(Reuters) – French high-tech industrial group Exail Technologies on Tuesday forecast double-digit percent revenue growth for this year, driven by higher defence spending by European governments. Exail is the latest small defence tech supplier propelled by prospects of a military ramp-up in Europe as the region rearms amid Russia’s war in Ukraine and fears of …
French underwater drones maker Exail hopes to cash in on defence spending Read More »
By Anastasiia Kozlova (Reuters) – Swiss logistics group Kuehne und Nagel on Tuesday said full-year operating profit could be lower than analysts’ expectations due to global economic uncertainty, sending shares down 3.2% in morning trade. The freight forwarder also scrapped its 2019-2026 guidance for annual operating profit growth between 17 – 19%, saying it had …
Kuehne+Nagel says economic uncertainty could weigh on 2025 earnings Read More »
