By Richa Naidu LONDON (Reuters) – Nestle on Thursday said shopper “concerns around the election” in the United States are putting further pressure on demand in its biggest market by creating consumer uncertainty. The U.S. presidential election, the most consequential vote for financial markets in an election-packed year, is weeks away and Democratic Vice President …
Nestle flags shopper uncertainty around US election Read More »
MARANELLO, Italy (Reuters) – Ferrari on Thursday unveiled its new limited edition supercar, which incorporates features from Endurance motor competitions and Formula 1 and has already sold out despite its 3.6 million euro ($3.9 million) base price tag. The hybrid butterfly-door F80 is a highlight in Ferrari’s model roll-out strategy aimed at keeping its wealthy …
(Reuters) – German agricultural group BayWa announced on Thursday the departure of its Chief Executive Officer and Chief Financial Officer amid the firm’s restructuring. CEO Marcus Poellinger is to leave the company by mutual consent at the end of October while CFO Andreas Helber is to leave at the end of March, 2025, BayWa added. …
By Sara Rossi MILAN (Reuters) – Italy faces a round of credit rating agency reviews over the next few weeks with realistic hopes of an upgrade thanks to a rapidly narrowing fiscal deficit, analysts said, although concerns about Rome’s huge debt pile remain. Markets have long seen Italy’s debt, proportionally the second largest in the …
Italy faces credit rating tests with more hope than fear Read More »
LONDON (Reuters) – The European Central Bank cut interest rates for the third time this year on Thursday, pointing out that inflation in the euro zone is now increasingly under control and the economic outlook has worsened. The euro initially rose following the rate decision, but fell back following stronger-than-expected U.S. data. It was last …
By Jonathan Spicer and Ece Toksabay ISTANBUL (Reuters) – Turkey’s central bank held interest rates at 50% on Thursday as expected but warned that a bump in recent inflation data lifted uncertainty, in a hawkish signal that could reinforce views that policy easing won’t begin until next year. “In September, the underlying trend of inflation …
Turkey’s central bank holds rate at 50%, warns on inflation Read More »
By John Revill ZURICH (Reuters) -Swiss engineering group ABB needs to improve its performance, new Chief Executive Morten Wierod said on Thursday, after the company reported mixed third-quarter results. The maker of factory robots and fast electric chargers, whose numbers are watched closely because they give an insight into the health of the broader economy, …
ABB’s new CEO says company has work to do after mixed Q3 numbers Read More »
By Andres Gonzalez LONDON (Reuters) – Spanish power company Acciona Energia is considering a sale of its hydroelectric business, valued at 1 billion euros ($1.1 billion), according to two sources familiar with the matter. The company has said that selling renewable assets is part of its strategy to strengthen its balance sheet. Acciona Energia has …
Acciona Energia considers sale of $1.1 billion hydro portfolio, sources say Read More »
(Reuters) – The European Central Bank cut interest rates for the third time this year on Thursday in a nod to sluggish economic growth, some softening in an otherwise rock-solid labour market and easing consumer price pressures. The ECB cut its deposit rate by 25 basis points to 3.25% as forecast in a Reuters poll …
ECB cuts rates as expected, says well on track to tame inflation Read More »
By Stefania Spezzati LONDON (Reuters) -UniCredit is still awaiting a court decision over whether it must immediately reduce its Russia business to comply with a European Central Bank order, months after filing an objection, people familiar with the situation told Reuters. The near four-month wait for a decision increases pressure on the lender to show …
UniCredit in court limbo over ECB’s Russia demands, sources say Read More »
