FRANKFURT, Dec 16 (Reuters) – Tesla is creating the conditions to produce up to 8 gigawatt hours of battery cells a year at its German gigafactory in Gruenheide near Berlin starting in 2027, the U.S. automaker said in a statement on Tuesday. “To this end, we are investing another three-digit million amount in cell production,” …
Tesla ramps up battery cell investments at German gigafactory Read More »
By Elisa Anzolin and Giulia Segreti MILAN, Dec 16 (Reuters) – Lagfin, the Luxembourg-based holding company that controls Italian drinks group Campari, said it had settled a tax dispute with Italy’s revenue agency and would pay 405 million euros ($477 million) over four years. The figure amounts to roughly a third of the 1.29 billion …
Campari’s parent company settles tax dispute with 405 million euro payment Read More »
By Philip Blenkinsop STRASBOURG, Dec 16 (Reuters) – The European Commission unveiled a plan on Tuesday to drop the EU’s effective ban on new combustion-engine cars from 2035 after pressure from the region’s auto sector, marking the bloc’s biggest retreat from its green policies in recent years. The move, which still needs approval from EU …
EU drops 2035 combustion engine ban as global EV shift faces reset Read More »
By Philip Blenkinsop STRASBOURG, Dec 16 (Reuters) – The European Commission proposed on Tuesday dropping the EU’s effective ban on new combustion-engine cars from 2035 by allowing continued sales of some non-electric vehicles following intense pressure from Germany, Italy and Europe’s auto sector. The EU executive appears to have bowed to calls from carmakers to …
EU drops 2035 combustion engine ban after automaker pressure Read More »
By Alistair Smout Dec 15 (Reuters) – The United States is stalling the implementation of a $40 billion technology agreement with Britain, officials said, following concerns in Washington over London’s approach to digital regulation and food standards. The “Tech Prosperity Deal,” covering artificial intelligence, quantum computing, and civil nuclear energy, was agreed during President Donald …
US pauses implementation of $40 billion technology deal with Britain Read More »
Dec 16 (Reuters) – The European Commission on Tuesday made public proposals that reverse an effective ban on sales of new internal combustion engine cars from 2035, bowing to pressure from Germany, Italy and major automakers. The delayed package follows fierce lobbying to allow transitional technologies such as plug-in hybrids and CO2-neutral fuels, while climate campaigners …
What’s in the European Commission’s proposals to reverse 2035 combustion engine ban? Read More »
By Foo Yun Chee BRUSSELS, Dec 16 (Reuters) – Universal Music Group has offered to sell royalty services platform Curve in an attempt to address EU competition concerns over its $775 million bid for Downtown Music, a person with direct knowledge of the matter said on Tuesday. Independent labels have called for the deal to …
Universal offers to sell Downtown’s Curve to win EU approval, source says Read More »
Dec 16 (Reuters) – London’s FTSE 100 closed lower on Tuesday, hurt by losses in energy and defence stocks, while investors assessed fresh jobs data that reinforced expectations for an interest rate cut by the Bank of England later in the week. The UK’s blue-chip FTSE 100 closed down at 0.7%, while the midcap FTSE …
UK’s FTSE 100 ends lower as oil, defence stocks weigh Read More »
By John Revill ZURICH, Dec 16 (Reuters) – Holcim has agreed to pay $550 million for a majority stake in Peruvian building materials maker Cementos Pacasmayo, it said on Tuesday, the Swiss company’s biggest ever acquisition in Latin America. Holcim is taking a 50.01% holding in Cementos Pacasmayo in the deal that values the Peruvian …
Holcim makes biggest Latin American acquisition with deal for Peru’s Cementos Pacasmayo Read More »
FRANKFURT, Dec 16 (Reuters) – Volkswagen, Europe’s largest automaker, on Tuesday said an EU proposal to drop an effective ban on new combustion-engine cars from 2035 was “economically sound”. “Opening up the market to vehicles with combustion engines while compensating for emissions is pragmatic and in line with market conditions,” the company said in e-mailed …
Volkswagen welcomes EU move to drop combustion engine ban Read More »
