MILAN (Reuters) – Billionaire Elon Musk is looking to carve out a role in Italy’s telecommunications system by expanding his aerospace business Space X and satellite broadband venture Starlink. Italy is evaluating potential supply accords with Starlink and Musk said on Monday that he was “ready to provide Italy the most secure and advanced connectivity!”. …
How Elon Musk’s Space X is looking to gain ground in Italy Read More »
PARIS (Reuters) – Renault’s Dacia brand cut the price of its low-cost electric vehicle (EV) by 2,000 euros ($2,086) in France on Tuesday, part of a wave of expected discounts in Europe this year to boost stagnant EV sales. Car makers in Europe are expected to rely on discounts to push more EV sales to …
Renault slashes price of low-cost electric car as emissions rules tighten Read More »
AMSTERDAM (Reuters) – Healthcare technology company Philips has sold its Xiver computer chip subsidiary, the Telegraaf newspaper reported, citing Xiver’s CEO. The business was sold to a consortium headed by Orange Mills Ventures, the investment vehicle of Dutch businessman Cees Meeuwis, the newspaper said. Financial terms were not disclosed. Xiver was described as being loss-making …
Philips sells small chipmaking subsidiary, Telegraaf reports Read More »
FRANKFURT (Reuters) – Mercedes-Benz will lower mid-term profitability targets for its passenger car business due to prolonged weakness in the market and the switch to electric-powered vehicles, a source familiar with the matter told Reuters on Tuesday. The German premium automaker’s management board, led by CEO Ola Kaellenius, will revise downwards the targets it set …
Mercedes revising profit outlook downwards in sluggish car market, source says Read More »
By Kanchana Chakravarty and Siddarth S (Reuters) -Deutsche Bank and Citigroup have turned bullish on European equities as lower interest rates, hopes of a strong corporate earnings season and an improving political outlook are expected to bolster sentiment in 2025. European markets widely lagged their U.S. counterparts last year as investors worried about an uncertain …
Deutsche Bank, Citi turn bullish on European equities Read More »
(Reuters) -French consumer prices rose less then anticipated in December, preliminary data from statistics agency INSEE showed on Tuesday. France’s harmonized inflation rate, adjusted for comparison with other euro zone countries, was 1.8% year-on-year in December, up from 1.7% in November but below the average rise of 1.9% expected by economists surveyed by Reuters. Prices …
French preliminary inflation at 1.8% in December, below forecasts Read More »
By Sergio Goncalves LISBON (Reuters) – Novo Banco has fired its chief risk officer, reported its concerns over his conduct to Portugal’s banking regulator and filed a complaint to the Public Prosecutor’s Office, which has launched an investigation. “The suspected issue is not related nor associated, in any way, with the bank”, the bank said …
Portugal’s Novo Banco fires chief risk officer, refers matter to regulator Read More »
By Sergio Goncalves and Inti Landauro LISBON (Reuters) – European Union’s financial industry faces burdens equivalent to a 110% tariff because of the fragmentation of the bloc’s markets for financial services, EU Commissioner for Financial Services Maria Luis Albuquerque said on Tuesday. Discussions about replacing the current patchwork of separately regulated markets with a Capital …
EU financial services markets fragmentation works as tariff, Albuquerque says Read More »
(This Jan. 6 story has been corrected to fix the year-on-year HICP to 2.8%, not 2.9%, in paragraph 2) By Maria Martinez BERLIN (Reuters) – German annual inflation rose more than forecast in December due to higher food prices and a smaller drop in energy prices than in previous months, preliminary data from the federal …
German inflation rises more than expected in December Read More »
MADRID (Reuters) – Spain is set to issue net debt worth 60 billion euros ($62.5 billion) in 2025, Economy Minister Carlos Cuerpo said on Tuesday, up from the 55 billion euros issued in 2024. He added that gross debt issuance would reach 278 billion euros, versus the 257 billion euros issued last year, which was …
Spain to issue 60 billion euros in net debt in 2025 Read More »
