(Reuters) – Chrysler parent Stellantis is recalling 63,082 crossover SUV’s in the United States over concerns of loss of drive power due to a power transfer unit issue, the National Highway Traffic Safety Administration said on Wednesday. The recall affects certain 2017-2019 model year Jeep Cherokee vehicles. A damaged power transfer unit may disengage the …
Stellantis to recall over 63,000 US vehicles, NHTSA says Read More »
By Marc Jones LONDON (Reuters) – Recent moves in UK debt markets, where gilt yields have risen even though interest rates are being cut and the pound is falling, suggest that cracks may be appearing in Britain’s reserve currency status, a credit rating agency has warned. A sharp sell-off in UK gilts earlier this month …
Cracks could be showing in UK’s reserve currency status, rating agency warns Read More »
DAVOS, Switzerland (Reuters) – British finance minister Rachel Reeves gave her biggest indication yet that she would support expanding London’s Heathrow hub, saying driving economic growth was the government’s priority in answer to a question about airport expansion. “When we say that growth is the number one mission of this government, we mean it, and …
UK finance minister, asked about Heathrow expansion, says growth is her priority Read More »
By Divya Chowdhury and Christoph Steitz DAVOS, Switzerland (Reuters) – Siemens Energy expects a “massive tailwind” from Donald Trump’s power strategy after the new U.S. president announced up to $500 billion in private sector investment to fund infrastructure for artificial intelligence. Shares in Siemens Energy, which makes everything from gas and wind turbines to power …
Siemens Energy forecasts ‘massive tailwind’ from Trump power drive Read More »
By Marwa Rashad DAVOS, Switzerland (Reuters) – EDP is confident its existing U.S. onshore projects will not be affected by President Trump’s wind power decisions, its CEO said, but Portugal’s largest utility company will revise its future business plan and growth expectations in coming months. Trump suspended new federal offshore wind leasing on Monday, pending …
Portugal’s EDP confident of its US plans despite Trump wind review Read More »
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -European Central Bank policymakers lined up behind further interest rate cuts on Wednesday, indicating that next week’s reduction is all but a done deal and further moves will also come even if the U.S. Federal Reserve remains cautious. Having cut rates four times already in response to …
LONDON (Reuters) – British finance minister Rachel Reeves has forced out the chairman of the country’s competition watchdog, saying he did not agree with her views on how to speed up the country’s slow-moving economy. Here is an explanation of the decision to remove Marcus Bokkerink from the Competition and Markets Authority and replace him …
What does UK’s Reeves’ removal of a competition regulator mean for growth? Read More »
(Reuters) – Britain’s decision to force out the chair of its antitrust regulator after he failed to prioritise the Labour government’s growth agenda indicates the country’s attempt to rein in Big Tech could be over. Marcus Bokkerink was replaced at the Competition and Markets Authority (CMA) late on Tuesday by Amazon’s former boss in Britain, …
Factbox-List of UK competition regulator cases as new boss steps in Read More »
BERLIN (Reuters) -Germany German car parts supplier Continental plans to cut 200 more jobs than initially announced, affecting a site in the western city of Wetzlar, it said on Wednesday. Around 360 of the 430 employees at the Wetzlar plant would not be offered a job transfer to other Continental sites, a spokesperson said on …
Continental to cut 200 more jobs than initially planned Read More »
MILAN (Reuters) – An appeals court has rejected an Italian government request to suspend a 1 billion euro ($1 billion) payment to Telecom Italia (TIM) pending a final decision in a dispute linked to the liberalisation of the telecoms sector, the ruling showed. Shares in TIM rose after the decision was made public on Wednesday, …
Court rejects Italy’s request to freeze 1 billion euro payment to TIM Read More »
