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Spain commits 400 million euros to World Bank fund for poorest countries

24 Oct 2024

By David Lawder WASHINGTON (Reuters) – Spain on Thursday announced plans for a contribution of 400 million euros ($433 million) to the World Bank’s fund for low-income countries, a 37% increase over the previous International Development Association replenishment cycle. The announcement, made on the sidelines of the IMF and World Bank annual meetings in Washington …

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German air-taxi maker Lilium’s units to file for insolvency, shares plunge

24 Oct 2024

(Reuters) – German air-taxi developer Lilium said on Thursday two of its subsidiaries in the country have decided to file for insolvency following unsuccessful talks with state and federal governments to solve its cash crisis. The company’s U.S.-listed shares fell 57% to 23 cents after the subsidiaries – Lilium GmbH and Lilium eAircraft GmbH – …

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IMF chief says world economy at risk of low-growth malaise, rising dissatisfaction

24 Oct 2024

By David Lawder WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva warned on Thursday that the world is in danger of becoming mired in a low-growth, high-debt path that will leave governments with fewer resources to improve opportunities for their people and tackle climate change and other challenges. The result is increasingly dissatisfied …

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France’s Vinci says proposed tax hike could cost it 400 million euros

24 Oct 2024

By Alban Kacher (Reuters) -French infrastructure group Vinci on Thursday said its previous net income guidance for 2024 did not take account of a corporate income tax rise being reviewed by the French parliament and could cost it 400 million euros. “Initial analysis suggests that if the bill were passed in its current form, this …

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UK’s Reeves to change debt target to boost public investment

24 Oct 2024

By David Milliken WASHINGTON (Reuters) -British finance minister Rachel Reeves will change the measure of public debt that the government targets in next week’s budget to allow billions of pounds of more borrowing for investment, she said on Thursday. Reeves – whose Labour Party won a sweeping election victory in July – said she wanted …

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Accor adjusts guidance as it sees strong demand at luxury hotels

24 Oct 2024

By Marta Maciag and Nathan Vifflin (Reuters) -Accor, Europe’s largest hotel group by portfolio, on Thursday raised the bottom end of its forecast range for 2024 core profit on strong demand for its luxury hotels. The French group, however, said China was weak, echoing other big hotel groups that are seeing declining demand there. Accor, …

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Oaktree-owned Banca Progetto placed under court administration in Milan

24 Oct 2024

By Emilio Parodi and Valentina Za MILAN (Reuters) -Banca Progetto, a small Italian bank which investment firm Oaktree recently agreed to sell to Centerbridge, has been placed under court administration for allegedly lending money to a person arrested under mafia charges, a court document showed. Banca Progetto confirmed in a statement it would work with …

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European agency offers support for struggling space sector

24 Oct 2024

By Tim Hepher PARIS (Reuters) -The European Space Agency unveiled plans on Thursday to speed up payments to the space industry in the face of mounting job cuts, while imposing more scrutiny following cost overruns and delays. Director General Josef Aschbacher announced the measure after a council meeting of the 22-nation agency, a week after …

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Russia in talks with BRICS over precious metals exchange

24 Oct 2024

MOSCOW (Reuters) – Russia is in talks with other BRICS members about creating an international precious metals exchange to ensure fair pricing and trade growth, the country’s Finance Minister Anton Siluanov said in a statement on Thursday. Leaders of BRICS countries, which account for 37% of the global economy, gathered in the Russian city of …

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