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BUDAPEST (Reuters) – Hungarian state-owned energy company MVM Group expects to close its deal to buy a majority share in E.ON Energie Romania in June or July, MVM’s chief executive told business website Portfolio.hu on Thursday. E.ON announced the deal in December, which is subject to approval from Romanian authorities. MVM gets a large chunk …

Hungary’s MVM sees E.ON Energie Romania deal closing in June or July Read More »

FRANKFURT (Reuters) – Fires in the Los Angeles area may result in claims of between 500 million euros ($518.95 million) and 700 million euros for the reinsurer Hannover Re, the company’s chief executive Jean-Jacques Henchoz said on Thursday. He said that industry-wide losses could total between $30 billion and $40 billion. ($1 = 0.9635 euros) …

Hannover Re sees Los Angeles fires claims of 500-700 million euros Read More »

By Tom Sims FRANKFURT (Reuters) – Germany elects a new parliament on February 23, with potential ramifications for the financial industry of Europe’s largest economy. Below is an outline of how those parties faring best in the polls are planning to shape finance, based on hundreds of pages of platform documents. Spoiler alert: The far-right …

Factbox-What Germany’s election means for Bitcoin and the super rich Read More »

By Johan BODINIER and Anna Peverieri (Reuters) – ArcelorMittal said on Thursday that it would build an advanced steel manufacturing facility in Calvert, Alabama, as it seeks to increase its production capacity to meet demand from the U.S. automotive sector. The world’s second largest steelmaker said the plant would be able to deliver up to …

ArcelorMittal to build new steel plant in US to meet auto sector demand Read More »

By Susanna Twidale LONDON (Reuters) – Europe’s battery storage capacity is expected to grow around five-fold by 2030, bringing with it increasing returns for energy majors, project developers and traders, as the cost of new projects falls. Wind and solar use has grown to make up around a third of Europe’s energy mix, but because …

Analysis-Europe’s renewables market powers battery storage boom Read More »

FRANKFURT (Reuters) – The following is the transcript of Reuters interview with ECB board member Piero Cipollone. For a main interview story, click here. Q: The ECB has said that the direction of travel for monetary policy is clear, but the timing and extent of moves is not. What does this guidance mean to you? …

Reuters interview with ECB board member Cipollone Read More »