BERLIN (Reuters) – German sports car maker Porsche AG reported a 28% tumble in 2024 China sales on Monday, as persistent weakness in the world’s largest car market hit German carmakers. Porsche, majority-owned by Volkswagen, sold 56,887 vehicles in 2024 in China, versus 79,283 in 2023. The drop weighed on global sales, which were down …
(Reuters) – Ukraine’s largest private energy company DTEK will buy storage systems with total capacity of 200 megawatts from a unit of renewable energy storage provider Fluence Energy to provide back-up for six power stations, DTEK said on Monday. Ukraine is facing an energy crisis after Russia intensified bombardments of its energy sector, knocking out …
Ukraine’s DTEK buys 200MW energy storage systems in bid to limit outages Read More »
BERLIN (Reuters) – Lufthansa expects its planned stake in Italy’s ITA Airways to increase the German flagship carrier’s profits by hundreds of millions of euros in the coming years, Chief Executive Carsten Spohr told the FAZ newspaper in an interview published on Monday. The German airline is set to acquire 41% of ITA, the successor …
Lufthansa CEO expects Italy’s ITA to boost profits by hundreds of millions, FAZ reports Read More »
FRANKFURT (Reuters) -The European Central Bank can ease policy further this year but must find a middle ground that neither induces a recession nor causes an undue delay in curbing inflation, ECB chief economist Philip Lane told an Austrian newspaper. The ECB cut interest rates four times last year and markets see another four steps …
ECB seeking middle ground with rate cuts, Lane tells newspaper Read More »
A look at the day ahead in European and global markets from Wayne Cole. Why bother engineering a soft landing, when you can just keep flying? That’s the message from the U.S. payrolls report, which is likely to lift the Atlanta Fed GDP Now estimate from its already above-trend pace of 2.7%. With the labour …
Morning Bid: Forget the soft landing, just keep flying Read More »
By David Milliken LONDON (Reuters) – Large British businesses plan to cut hiring this year at the fastest pace since the COVID-19 pandemic and scale back investment due to big tax rises announced in the government’s October budget, a survey showed on Monday. Deloitte’s quarterly survey of chief financial officers at 63 of Britain’s largest …
Large UK companies plan to cut hiring at fastest pace since pandemic, Deloitte says Read More »
By Nidhi Verma, Chen Aizhu, Siyi Liu and Florence Tan NEW DELHI/SINGAPORE (Reuters) -Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow’s top customers, traders and analysts said. The U.S. …
Tougher U.S. sanctions to curb Russian oil supply to China and India Read More »
By Nupur Anand, Isla Binnie (Reuters) -U.S. bank JPMorgan Chase on Friday asked its employees who are on hybrid work schedules to return to the office five days a week starting in March, an internal memo seen by Reuters showed, prompting hundreds of staff comments, including complaints. Financial companies have been aggressive in enforcing return-to-office …
JPMorgan asks staff to return to office five days a week, prompting complaints Read More »
(Reuters) -British outsourcer Serco will unveil a succession plan on Monday that will see CEO Mark Irwin retiring after two years in the job, Sky News reporter Mark Kleinman said in an X post on Sunday. Irwin’s replacement will be selected from the company’s existing management, the post added. Serco declined to comment on the …
BELGRADE (Reuters) – Gas flows from Azerbaijan to Serbia have been halted and it is unclear when they will resume, news agency Tanjug quoted Serbian President Aleksandar Vucic as saying. “I got information from our Azerbaijan brothers and friends that because of force majeure, and problems they have, we as of today cannot count on …
Azerbaijan’s gas flows to Serbia suspended, Serbian president says Read More »
