By Richa Naidu LONDON (Reuters) – French dairy giant Danone has stopped sourcing soy from Brazil and now buys from countries in Asia, its finance chief told Reuters, ahead of a European Union rule requiring companies to prove they are not sourcing from deforested land. Companies from Nestle to Unilever have been gearing up in …
Exclusive-France’s Danone cuts out Brazilian soy ahead of tough new EU rules Read More »
WASHINGTON (Reuters) -Commerzbank CEO Bettina Orlopp said on Friday that the lender was focusing on its standalone strategy, reiterating her stance as Italy’s UniCredit expresses interest in a possible tie-up. “We really focus on us, on our standalone strategy,” Orlopp said at a financial conference in Washington. UniCredit has sparked outrage in Germany by becoming …
Commerzbank CEO focused on standalone strategy amid UniCredit interest Read More »
By Elena Fabrichnaya and Gleb Bryanski MOSCOW (Reuters) -Russia’s central bank hiked its key interest rate by 200 basis points on Friday to 21%, the highest level since the early years of President Vladimir Putin’s rule, when Russia was recovering from the chaos that followed the collapse of the Soviet Union. The move, driven by …
Russian central bank hikes benchmark rate to 21%, highest since 2003 Read More »
LONDON (Reuters) -Reports of bullying, discrimination and other non-financial misconduct in Britain’s finance industry surged almost 60% over three years to 2023 – and more than one third of firms did not report such cases to their boards, a regulatory survey showed. In the first comprehensive study of how banks, insurers and brokerages detect and …
Reports of bullying, discrimination surge in British financial services Read More »
WASHINGTON (Reuters) – Germany is not facing a deep economic contraction, but steps need to be taken to prevent things from getting worse, said Bundesbank President Joachim Nagel in Washington on Friday. Nagel said that the most important thing at the moment was that the German government work on the implementation of an already agreed …
Bundesbank’s Nagel: steps needed to stop German economy from getting worse Read More »
LONDON (Reuters) – Britons who own shares or property can be considered “working people” too, Prime Minister Keir Starmer’s office clarified, after he suggested they wouldn’t fit his definition of the phrase ahead of a budget next week. As the government warns it will need to take difficult decisions at the Oct. 30 budget to …
Britons with shares can be considered ‘working people’ too, PM’s office clarifies Read More »
By Pratima Desai and Julian Luk LONDON (Reuters) – U.S. broker Clear Street, which is seeking membership of the London Metal Exchange’s (LME) open outcry trading floor, has poached three metal traders from Sigma Broking, two sources familiar with the matter said. A unit of the broker, Clear Street Futures headed by Chris Smith, is …
Clear Street poaches metals traders from LME floor trader Sigma, sources Read More »
By Luiza Ilie BUCHAREST (Reuters) – Romania’s largest employer association says a widening budget deficit is siphoning money away from the real economy, while some companies are postponing investment as they await an expected fiscal correction. The prospect of presidential and parliamentary elections in the European Union member Romania in November and December has triggered …
Romanian firms wary of post-election shock therapy to cut budget deficit Read More »
MADRID (Reuters) – The mismatch between increasing supply of renewable power and electricity demand that is struggling to grow, coupled with depressed wholesale power prices, threatens future investments in the sector, renewables lobby APPA warned on Friday. KEY QUOTES “We continue to add renewables capacity without a proportional increase in power demand,” APPA President Santiago …
Spanish renewables industry warns of threats to investment Read More »
By Toby Sterling AMSTERDAM (Reuters) – Lighting maker Signify is considering moving some of its production out of China if the company is confronted with a new round of U.S. tariffs, its chief executive said on Friday. Signify, the world’s biggest maker of lights, is looking at production sites in India, Indonesia and changing existing …
New US tariffs could prompt Signify to move some production from China, CEO says Read More »
