BERLIN (Reuters) – Volkswagen’s chief financial officer said in comments to investors seen by Reuters on Wednesday that the next step to making its German plants competitive was to improve productivity, increasing the number of cars produced per worker. CFO Arno Antlitz, speaking to investors in New York on Tuesday, said that the cost-cutting deal …
Volkswagen CFO: after cost-cutting deal, productivity must go up Read More »
AMSTERDAM (Reuters) – The Dutch government on Wednesday said it would expand its export controls on advanced semiconductor equipment from April 1, which chip equipment company ASML said it did not expect to impact its business. Dutch national export licence requirements for semiconductor equipment were first introduced in 2023 under pressure from the U.S. to …
Netherlands to expand export controls on semiconductor equipment Read More »
MOSCOW (Reuters) – A diesel hydrotreating unit at a refinery of Russian oil major company Lukoil in the city of Volgograd caught fire on Wednesday morning, two oil industry sources told Reuters. “All extinguished. Hydrotreating has been stopped. It is not yet clear how long it will take to repair it,” one source said. Another …
WARSAW (Reuters) – The former head of Orlen Trading Switzerland (OTS) has been detained in the United Arab Emirates, and Poland is working to extradite him to face charges of acting to the detriment of the company, Polish authorities said on Wednesday. The former CEO, referred to only as Samer A. under Polish privacy laws, …
Former CEO of Orlen Swiss trading business detained in UAE, Poland says Read More »
PARIS (Reuters) -French Finance Minister Eric Lombard decided on Wednesday to lower the regulated interest rate on popular tax-free savings accounts, offering French banks relief from payouts that exceed those offered by European peers. The ministry said Lombard was following a recommendation from Bank of France Governor Francois Villeroy de Galhau to lower the rate …
France cuts interest rate on popular savings accounts Read More »
By Brendan Pierson and Dietrich Knauth (Reuters) -A Washington jury on Tuesday ordered Bayer to pay $100 million to four people who say they were sickened by toxic chemicals known as PCBs at a Seattle-area school, but found the company was not liable for injuries alleged by 11 others. The verdict, which follows a two-month …
Jury orders Bayer to pay $100 million over PCBs in Washington school Read More »
By Maria Martinez BERLIN (Reuters) -Germany’s economy contracted for the second consecutive year in 2024, highlighting the depth of the downturn gripping Europe’s biggest economy. Germany’s economy shrank by 0.2% over the full year – in line with economists’ forecasts – and by 0.1% in the final quarter, the Federal Statistics Office said on Wednesday, …
German economy contracts for second consecutive year in 2024 Read More »
(Reuters) – The National Highway Traffic Safety Administration said on Wednesday it has closed an investigation on Daimler Truck’s 313,101 North American vehicles over an engine wiring concern. The auto safety regulator had opened the probe, which covered Daimler’s Freightliner Cascadia trucks from model years 2017-2021, on reports of engine electrical wiring harness chafe in …
NHTSA closes probe on 313,101 Daimler US trucks over engine wiring concern Read More »
BRUSSELS (Reuters) – The European Commission requested the 27 EU members on Wednesday to conduct a 15-month risk assessment of outbound investments in semiconductor, artificial intelligence and quantum technologies, which could lead to measures to protect EU economic security. EU members should review investments by their companies in non-EU countries going back to the start …
EU seeks tech investment review to guard economic security Read More »
LONDON (Reuters) – Airbus CEO Guillaume Faury said he could see the two separate European programmes working on new fighter jets and combat air systems being combined in future or at least designed to work together. Britain, Italy and Japan said in December they were setting up a joint company to develop, design and build …
Airbus CEO says Europe’s two fighter jet programmes could combine Read More »
