FRANKFURT (Reuters) – The European Central Bank cut interest rates for the sixth time in nine months on Thursday, sticking to its easing plan in the face of economic upheaval from an unfolding trade war and new plans to boost Europe’s military spending. With inflation closing in on its 2% target, the central bank for …
ECB cuts rates for sixth time in face of economic upheaval Read More »
(Reuters) – Global ratings agency S&P Global said on Thursday it has downgraded Stellantis to “BBB” from “BBB+”, citing weak margin prospects. S&P said it expects the price cuts implemented in North America and Europe late last year coupled with affordability concerns from buyers to limit the automaker’s volume growth and margin expansion in those …
S&P downgrades Stellantis rating, expects tariff headwinds Read More »
ROME (Reuters) – Italy’s Leonardo is not talking to automotive producers, such as Stellantis, about possible partnerships to produce military equipment, the state-controlled defence company’s chief executive said on Thursday. As Europe sets out to raise military spending – with EU leaders meeting to discuss proposals to mobilise up to 800 billion euros ($843 billion) …
Leonardo CEO denies talks with automakers on military production Read More »
MADRID (Reuters) – Spanish telecoms giant Telefonica has appointed Emilio Gayo as its new chief operating officer, it said on Thursday, in a reshuffle after Marc Murtra took over as executive chairman in mid-January. Gayo, 59, joined Telefonica in 2004 and has run its Spanish business since 2018. He replaces Angel Vila, who had been …
Spain’s Telefonica appoints Emilio Gayo as operations chief Read More »
PARIS (Reuters) – French battery maker Automotive Cells Company said on Thursday it welcomed support from the European Union for the auto sector, but also feared that it would come too late. The European Commission unveiled an action plan for the auto industry on Wednesday to help it meet a target for zero carbon emissions …
French battery maker ACC welcomes EU auto sector support but fears it’s too late Read More »
BERLIN (Reuters) – Germany’s roughly 21 million pensioners will see their payments rise by 3.74% from July 1, higher than the current inflation rate, the country’s labour minister told the Sueddeutsche Zeitung newspaper on Thursday. “Last year, the labour market remained stable despite all the crises, and there were decent wage settlements,” Hubertus Heil told …
German pensions to rise by 3.74%, labour minister tells paper Read More »
By Isabel Demetz and Klaus Lauer (Reuters) -Shares of ProSiebenSat.1 tumbled on Thursday, a day after the German media group said it was in talks with General Atlantic (GA) to regain full ownership of two of its units. The shares fell 8% by 1257 GMT, after falling as much as 14.3% earlier in the session, …
ProSieben shares hit as investors question digital asset strategy Read More »
By Joanna Plucinska, Anna Peverieri and Alban Kacher LONDON (Reuters) – Air France-KLM reported better than expected annual results that sent its shares to a five-year high on Thursday after the airline benefitted from tight cost management and stronger pricing in the fourth quarter. Chief Executive Ben Smith said the airline enjoyed a particularly strong …
Air France-KLM surprise profit beat lifts shares to 5-year high Read More »
By Richa Naidu LONDON (Reuters) -Britain’s Reckitt Benckiser, the maker of Strepsils throat lozenges and Dettol cleaning products, missed expectations for fourth-quarter like-for-like net sales as a late flu and cold season dented demand for its over-the-counter medicines. The firm’s shares, however, rebounded after an initial slide, rising as much as 3.5% as it reported …
Strepsils maker Reckitt misses sales forecast on late flu season, but lower costs help Read More »
By Yamini Kalia (Reuters) -British insurer Admiral Group reported a record annual profit on Thursday, helped by robust business at its motor insurance arm and competitive pricing, lifting shares to a three-and-half-year high. The company reported group pre-tax profit of 839.2 million pounds ($1.08 billion) for the year ended December 2024, up 90% from a …
Insurer Admiral’s shares hit 3-year high on record annual profit Read More »
