STOCKHOLM (Reuters) -Sweden’s Northvolt has struck a deal that gives the cash-strapped battery maker access to a small amount of money while talks on a bigger financing package continue, business daily DI reported on Wednesday, citing unidentified sources. The cash was only expected to last for a few weeks at most, allowing the company to …
Northvolt gets short-term funds while talks continue, DI reports Read More »
By Gleb Stolyarov (Reuters) – Facing a shortage of planes due to Western sanctions, Russia is in talks with some Central Asian countries for their airlines to run domestic flights and help meet a pick up in travel demand. Russian airlines, which use many Western aircraft delivered before the war in Ukraine, are struggling to …
Short of planes, Russia asks Central Asian airlines to run domestic flights Read More »
By Pietro Lombardi MADRID (Reuters) -The chief of Europe’s largest utility Iberdrola gave a bullish outlook for the coming years on Wednesday, pledging to build on a strategy to focus investment on expanding and upgrading grids in Britain, the United States and elsewhere. While pouring billions into power grids and taking a more selective approach …
Iberdrola gives upbeat outlook as strategy pays off Read More »
STOCKHOLM (Reuters) -Swedish industrial group Atlas Copco warned of weakened customer activity in the near term as it posted lower-than-expected orders and adjusted operating profit for the third quarter on Wednesday. “The current market conditions come with a level of hesitancy and unpredictability,” said CEO Vagner Rego, who took over the top position in May …
Atlas Copco sees weaker customer activity in near term after Q3 profit miss Read More »
By Richa Naidu LONDON (Reuters) – Investors are looking to Unilever’s third-quarter results on Thursday to see if the consumer goods group has started to claw back some market share lost to cheaper rivals as it seeks to balance sales volumes and margins. The packaged food industry, including Unilever, had to raise prices to cope …
Unilever’s pricing shift may have attracted shoppers in third quarter Read More »
BRASILIA (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Wednesday that it is time for the BRICS nations to create new payment methods between them, adding that the group’s New Development Bank was designed as an alternative to what he called failing Bretton Woods institutions. “It’s not about replacing our currencies, but …
Brazil’s Lula urges BRICS to create alternative payment methods Read More »
By Marie Mannes STOCKHOLM (Reuters) -Sweden-based Volvo Cars beat third-quarter operating profit expectations on Wednesday but cut its full-year sales growth forecast as an industry slowdown spreads to higher-end cars. Demand for electric vehicles has weakened in the last year partly due to a lack of affordable models and the slow roll-out of charging points. …
Volvo Cars tops forecast but cuts outlook on market slowdown Read More »
FLORENCE, Italy (Reuters) – The head of Italian banking association ABI said on Wednesday banks would have to compete harder to secure medium- and long-term funds as the European Central Bank keeps reducing its bond buying, draining cash away from the financial system. Italy sits on the world’s third-largest public debt and the ECB’s withdrawal …
Italy’s banking lobby chief sees rising competition for term deposits Read More »
By Julia Payne BRUSSELS (Reuters) – Europe’s nominated head of tech sovereignty and security will work towards boosting the EU’s use of artificial intelligence and “disruptive” technology for the battlefield. In written responses to European Parliament questions, Henna Virkkunen said she would prepare an AI and Cloud Development Act to counter the EU’s growing “productivity …
EU’s tech security nominee to boost AI use, battlefield technology Read More »
By Elizaveta Gladun and Anastasiia Kozlova (Reuters) -Swiss logistics group Kuehne und Nagel reported third quarter earnings which were slightly below market expectations on Wednesday although analysts and management pointed to better times ahead. The company pointed to a recent restructuring which management said had underpinned improved third-quarter profitability and set it up for an …
Kuehne und Nagel eyes future growth in line with market Read More »
