LONDON (Reuters) – Sterling gained against a broadly weaker dollar on Monday, as traders’ attention turns back towards Britain and the pound ahead of this week’s Bank of England meeting and next week’s update on the country’s public finances. The pound gained 0.27% to $1.2973, just shy of last week’s four-month high, but the move …
Sterling moves up traders’ agenda, strengthens versus dollar and euro Read More »
By Sarah Young, Nell Mackenzie LONDON (Reuters) -Britain’s Financial Conduct Authority said on Monday it has fined Crispin Odey, founder of the now defunct hedge fund Odey Asset Management, 1.8 million pounds ($2.3 million), and banned him from the financial services industry for a lack of integrity. Odey intends to challenge the decision and has …
UK’s FCA fines and bans Crispin Odey for lack of integrity Read More »
MILAN (Reuters) – Automaker Stellantis is investing 38 million euros ($41 million) in its Verrone plant in Northern Italy to manufacture parts for electric engines for its upcoming small-size models, it said on Monday. The plant will manufacture steel components for electric drive modules Stellantis currently makes in other European facilities, the company said in …
Stellantis invests $41 million in Italy to make EV engine parts Read More »
By Chandini Monnappa (Reuters) -Drugmaker AstraZeneca has agreed to buy Belgium-based biotechnology firm EsoBiotec for up to $1 billion, it said on Monday, seeking to accelerate the development of its cell therapy capabilities, particularly for cancer. EsoBiotec’s technology can genetically modify immune cells directly inside the body, allowing for transformative cell therapy treatments in just …
AstraZeneca boosts cancer therapies push with $1 billion EsoBiotec buy Read More »
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China’s retail sales growth quickened in January-February in a welcome sign for policymakers’ efforts to boost domestic consumption even as joblessness rose and factory output eased, underscoring the strains on an economy facing fresh U.S. trade pressure. Policymakers have put expanding domestic demand as the top priority …
China retail sales pick up as Beijing turns to consumers to ease US trade pressure Read More »
MOSCOW (Reuters) – Russia plans to produce at least 60,000 metric tons of lithium carbonate in 2030, the natural resources ministry said on Monday, as Moscow seeks to reduce its dependency on imports and boost production of high-capacity electric batteries. Lithium and other critical minerals, including rare earth metals, have gained global attention in recent …
Russia plans to launch large-scale lithium production in 2030 Read More »
By Steven Scheer JERUSALEM (Reuters) – Israel awarded licences to BP, Azeri national oil firm Socar and local company NewMed Energy on Monday to explore for natural gas in Israeli waters as the country seeks to boost domestic gas reserves and expand exports. In 2023 the trio jointly placed a bid for two offshore blocks …
Israel awards natural gas exploration licences to BP, Socar and NewMed Read More »
(Reuters) – Embattled German agricultural trading group BayWa said on Monday it would keep a majority ownership of renewable energy unit BayWa r.e. after an initial agreement with suitor Energy Infrastructure Partners fell apart. “A final agreement on details of this concept could not be reached for economic reasons,” BayWa said. The Munich-based trader of …
BayWa deal with EIP for renewable energy unit collapses Read More »
By Indradip Ghosh BENGALURU – The Swiss National Bank will cut its main policy rate by a quarter percentage point on March 20 to 0.25% and hold it there until at least 2026, according to most economists polled by Reuters, who also said the risk of the rate turning negative again was low. Since the …
Swiss National Bank seen cutting rates 25 bps, risk of negative rates low: Reuters poll Read More »
BERLIN (Reuters) – Global ratings agency Moody’s on Monday downgraded Volkswagen <VOWG_p.DE> by one notch to Baa1 from A3, citing sector headwinds, structural challenges, ongoing need for investment and fierce competition in China. “The downgrade to Baa1 reflects the recent contraction in operating margin and free cash flow generation, with limited expectation of a material …
Moody’s downgrades Volkswagen on sector headwinds, competition in China Read More »
