TURIN (Reuters) – China’s BYD will meet Italian auto parts makers next week to discuss potential supplies for its two upcoming plants which will serve the European market, the EV maker’s special adviser for Europe said on Monday. The carmaker is building a site in Hungary, due to start operations in October and one in …
China’s BYD taps Italian parts makers to supply plants in Hungary, Turkey Read More »
By Barbara Erling and Marek Strzelecki WARSAW (Reuters) – Poland is likely to see total investment of more than 650 billion zlotys ($160 billion) in 2025, Prime Minister Donald Tusk said on Monday, as the government unveiled a package of measures including tax cuts and deregulation to spur growth. The economy has been one of …
Poland’s Tusk expects $160 billion of investment in 2025 to spur growth Read More »
By Anastasia Lyrchikova MOSCOW (Reuters) – Russia’s Nornickel, a major world producer of refined nickel and palladium, said its 2024 net profit fell 37% to $1.8 billion as Western sanctions and low metals prices squeezed earnings. Nornickel said 2024 revenue fell by 13% to $12.5 billion, while earnings before interest, tax, depreciation and amortization declined …
Russia’s Nornickel reports 37% drop in 2024 net profit Read More »
LONDON (Reuters) -The chair of Britain’s Financial Ombudsman Service (FOS), Zahida Manzoor, will step down at the end of her term later this year, the complaints-handling body said on Monday. News of her departure comes days after Abby Thomas stepped down from her role as FOS chief executive and chief ombudsman. The FOS tackles complaints …
UK financial ombudsman chair Manzoor to step down Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Microsoft has offered to widen the price differential between its Office product sold with its chat and video app Teams and its software sold without the app in a bid to avert a possible EU antitrust fine, according to three sources. The move by the U.S. tech giant …
Microsoft to adjust Office-Teams pricing in bid to avoid EU antitrust fine, sources say Read More »
MADRID (Reuters) – Chief Executive of Spain’s Sabadell Cesar Gonzalez-Bueno on Monday said that the remedies proposed by BBVA in its takeover offer were insufficient to address competition concerns. On Friday, Sabadell moved to convince shareholders it should stay independent by raising its payout policy to 3.3 billion euros ($3.43 billion), as the Spanish bank …
BBVA remedies in takeover bid are insufficient, Sabadell’s CEO says Read More »
By Savyata Mishra (Reuters) -McDonald’s posted on Monday a surprise increase in its global comparable sales in the fourth quarter, aided by demand for its cheaper items and discounted offerings from diners in the Middle East, Japan and China. Shares of the burger chain rose nearly 5% in early U.S. trading, despite a bigger-than-expected drop …
McDonald’s international markets prop up sales growth even as US lags Read More »
By Elvira Pollina, Valentina Za and Giuseppe Fonte MILAN (Reuters) – Poste Italiane is considering a potential investment in Telecom Italia (TIM), two people with knowledge of the matter said, as the former phone monopoly also draws interest from rival Iliad and private equity fund CVC Capital Partners. Stiff price competition has long been eroding …
Poste Italiane studies Telecom Italia investment amid interest from rivals Read More »
By Arunima Kumar and Samuel Indyk LONDON (Reuters) – Shares in BP rose by 7% on Monday, and were on track for the biggest daily gain in two years, as investors anticipated that activist shareholder Elliott Management will press for board changes and strategy shifts to boost returns. BP CEO Murray Auchincloss, appointed in January …
BP shares climb on prospect Elliott stake will drive change Read More »
By Alexander Tanas CHISINAU (Reuters) – Moldova’s pro-Russian breakaway Transdniestria region will start receiving natural gas supplies via a Hungarian company under a loan provided by Moscow, separatist authorities said on Monday. Residents of Transdniestria, a sliver of territory run by pro-Russian separatists along Moldova’s border with Ukraine, were plunged into crisis on January 1 …
Breakaway Moldovan region says it has agreed gas supplies backed by Russian loan Read More »
