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Spain economy set to grow 2.7% in 2025, buoyed by private consumption, central bank says

11 Mar 2025

By Jesús Aguado MADRID (Reuters) -The Bank of Spain said on Tuesday that it expects the country’s economy to expand by a strong 2.7% this year, up from the 2.5% forecast in its previous quarterly update, thanks to soaring private consumption, in contrast with the rest of the euro zone. The bank attributed the increase …

Spain economy set to grow 2.7% in 2025, buoyed by private consumption, central bank says Read More »

Rouble hits over six-month high after Ukraine pummels Moscow with drones

11 Mar 2025

By Alexander Marrow (Reuters) – The Russian rouble strengthened to a more than six-week high against the dollar on Tuesday, buoyed by subdued imports and hopes for a resolution to the war in Ukraine, even after Kyiv launched its biggest drone attack on Moscow. Ukraine’s attack, in which at least 91 drones targeted the Russian …

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Italy’s Synapsia signs $2.5 billion deal with UAE’s Bold Technologies

11 Mar 2025

ROME (Reuters) – Italy’s Synapsia has signed a $2.5-billion contract with UAE’s Bold Technologies to provide AI-powered city management services for Abu Dhabi, Synapsia CEO Daniele Marinelli told Reuters. The Italian company will develop technology to handle urban issues such as transport, parking and emergency response to disasters, Marinelli said in a phone interview late …

Italy’s Synapsia signs $2.5 billion deal with UAE’s Bold Technologies Read More »

Exclusive-Meta begins testing its first in-house AI training chip

11 Mar 2025

By Katie Paul and Krystal Hu NEW YORK (Reuters) – Facebook owner Meta is testing its first in-house chip for training artificial intelligence systems, a key milestone as it moves to design more of its own custom silicon and reduce reliance on external suppliers like Nvidia, two sources told Reuters. The world’s biggest social media …

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Finland’s UPM to shut paper mill in Germany, implement other cost-cutting measures

11 Mar 2025

COPENHAGEN (Reuters) – Finland’s UPM said on Tuesday it is planning to permanently close its paper mill in Germany’s Ettringen and implement cost-cutting measures that will affect a total of 462 jobs, citing a dynamically changing market and overcapacity. Forestry companies have been adjusting production and shifting focus to making cardboard, packaging materials, labels and …

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Russia’s VTB hires former central banker to lead international payments push

11 Mar 2025

MOSCOW (Reuters) – Russia’s second biggest lender VTB said on Tuesday it had hired former central banker Olga Skorobogatova to build and develop the bank’s international payments infrastructure, months after she left a similar role at the Bank of Russia. Russia has grappled with payment issues due to Western sanctions imposed after Russian President Vladimir …

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High spending pushes Russia’s budget deficit to $31.5 billion in Jan-Feb

11 Mar 2025

By Darya Korsunskaya and Alexander Marrow (Reuters) -Soaring government spending pushed Russia’s budget deficit to 2.70 trillion roubles ($31.45 billion) in the first two months of 2025, the finance ministry said on Tuesday, adding that low oil prices could squeeze Moscow’s crucial energy revenues. Spending has jumped in the last three years, with Moscow channelling …

High spending pushes Russia’s budget deficit to $31.5 billion in Jan-Feb Read More »

EU seeks feedback on looser state aid rules to spur clean tech projects

11 Mar 2025

By Foo Yun Chee BRUSSELS (Reuters) – European Union state aid regulators are seeking feedback from member countries on looser rules allowing governments to give grants and other financial incentives for clean technology projects and businesses to reduce their carbon footprint. The easier rules, which are expected to be adopted in June and be valid …

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Persil-owner Henkel’s growth guidance disappoints as weak North America weighs

11 Mar 2025

By Matthias Inverardi, Elizaveta Gladun and Linda Pasquini (Reuters) -Persil-owner Henkel gave weaker-than-expected guidance for 2025 organic sales growth on Tuesday, projecting a slower start to the year due to a tough industrial environment and subdued consumer sentiment especially in North America. Shares of the German consumer goods group, whose other brands include Schwarzkopf hair …

Persil-owner Henkel’s growth guidance disappoints as weak North America weighs Read More »

UK’s Thames Water rescue plan faces creditor-group appeal

11 Mar 2025

LONDON (Reuters) – Thames Water, Britain’s biggest water supplier, faced another court battle on Tuesday as a group of its junior creditors started a legal challenge over a 3 billion pound ($3.9 billion) debt lifeline necessary to keep it afloat. The company is at the centre of a public backlash against the water industry. Mismanagement …

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