Reuters UK Business

FRANKFURT (Reuters) – U.S. chipmaker Wolfspeed is responsibile for the microchip manufacturing project planned in western Germany, automotive supplier ZF said on Tuesday, after an industry source said the German company intends to withdraw from the plan. “Wolfspeed is responsible for the project. ZF has always provided intensive and active support here,” a spokesperson for …

Wolfspeed has responsibility for German chip plant project, ZF says Read More »

MILAN (Reuters) – Italy’s Eni is expected to announce an overhaul of its chemical business in the coming days as it presses ahead with its energy transition programme, two sources with knowledge of the matter said on Tuesday. Eni said in March its loss-making chemical business Versalis aimed at reaching break-even at the core profit …

Eni to launch chemical business restructuring in coming days, sources say Read More »

By Giuseppe Fonte ROME (Reuters) – Italy’s influential parliamentary committee on security will hold a round of hearings on data storage following a major breach at the country’s biggest bank Intesa Sanpaolo, people familiar with the matter told Reuters on Tuesday. Intesa Sanpaolo is under investigation by prosecutors in the southern Italian city of Bari …

Data storage in spotlight of Italian security committee after Intesa breach Read More »

NEW YORK (Reuters) – Falling interest rates should ease the pressures created by high government borrowing levels, Dutch European Central Bank governing council member Klaas Knot said Tuesday. “Interest rates are coming down again so that should make debt serve burdens a little more sustainable,” Knot said at an event held by Bloomberg in New …

ECB’s Knot: falling interest rates should ease debt burdens Read More »

MOSCOW (Reuters) – Russia plans to arrange ship-to-ship transfers of liquefied natural gas and gas condensate in the Barents and Bering Seas to free up more ice-class tankers for its biggest LNG producer, Novatek, a draft project document showed on Tuesday. Novatek has been pressing ahead with its new Arctic LNG 2 project despite Western …

Exclusive-Russia to use ship-to-ship LNG loadings to free up ice-class tankers Read More »

WASHINGTON (Reuters) – The European Central Bank needs to improve how it communicates policy intentions and uncertainty, but copying the U.S. Federal Reserve’s “dot plot” projection method is not a desirable option, Bundesbank President Joachim Nagel said on Tuesday. The ECB plans to conduct a strategy review next year, and communication is set to be …

ECB needs clearer communication – but not dot plots, Nagel says Read More »

BERLIN (Reuters) – The German government is not planning any talks with the management of Italy’s UniCredit on the potential takeover of Commerzbank, the Handelsblatt newspaper reported on Tuesday, citing a parliamentary response. The newspaper cited a finance ministry official as writing: “Talks about a potential merger of two private companies are the responsibility of …

German govt not planning talks with UniCredit management, reports Handelsblatt Read More »

MADRID (Reuters) – Airline operators in Spain expect to sell 12% more seats this winter than a year earlier as travellers look to steer well clear of conflict zones, the head of Spain’s airlines industry group (ALA) said on Tuesday. Tourist destinations such as the Canary Islands will see more flights as some airlines re-route …

Spain’s airlines see winter sales boost due to Middle East conflict Read More »