By Yoruk Bahceli and Stefano Rebaudo (Reuters) -The European Central Bank looks all but certain to cut rates again on Thursday, yet the outlook after that is less clear. Dovish and hawkish policymakers are at odds over whether a weak growth outlook is enough to end inflation worries. “This cut is relatively uncontroversial, so it’s …
Hanging in the balance: Five questions for the ECB Read More »
FRANKFURT (Reuters) – Munich Re said on Sunday that it will push for higher reinsurance rates to take into account the fact that costs for insured damages are rising much faster than overall consumer prices. “Damage inflation is significantly higher (than overall inflation) in many reinsurance segments,” management board member Thomas Blunck said in a …
Munich Re says damage inflation well above CPI rate Read More »
FRANKFURT (Reuters) – Volkswagen’s CEO, who is pushing for unprecedented cutbacks in the German carmaker’s home market, said change was needed because the European market is shrinking while competition is increasing. Speaking in an interview in Sunday paper Bild am Sonntag, Volkswagen CEO Oliver Blume said “the pie has become smaller, and we have more …
VW boss says European market shrinking amid tougher competition Read More »
CERNOBBIO, Italy (Reuters) -Italy sees its economy expanding by at least 1.2% in 2025, a Treasury junior minister told Reuters, as the government prepares its medium-term structural budget plan to be submitted to the European Commission by Sept. 20. Italian daily Il Sole 24 Ore reported on Sunday Rome would set a 2025 GDP growth …
Italy sees 2025 GDP growth of at least 1.2%, junior minister says Read More »
(Reuters) -Elon Musk denied a report that his artificial intelligence startup xAI has held talks for a share in future Tesla revenue in return for giving Musk’s electric vehicle maker access to xAI’s technology and resources. The Wall Street Journal reported on Saturday that Tesla would license xAI’s artificial-intelligence models to help power its driver-assistance …
Musk denies report his xAI in talks over Tesla revenue Read More »
CERNOBBIO, Italy (Reuters) – The European Union should decide already next year whether to rethink regulation that effectively bans the sale of new petrol and diesel cars in the 27-nation bloc from 2035, Italy’s industry minister said on Saturday. Speaking on the sideline of TEHA business forum in Cernobbio, Adolfo Urso said an intermediate assessment …
Italy calls for early review of EU combustion engine ban Read More »
By Francesca Landini CERNOBBIO, Italy – (Reuters) – Italy plans to draft, by early 2025, rules to allow the use of new nuclear power technologies, the energy minister said on Saturday, signalling a potential reversal of the country’s current ban on nuclear power production. “By the end of the year (the energy ministry’s legal adviser …
Italy inches towards reversing a nuclear energy ban Read More »
CERNOBBIO, Italy (Reuters) – Italian railways operator Ferrovie dello Stato will study whether to seek outside investors, including through a potential bourse listing, its newly appointed chief executive said on Saturday. Asked about a possible stock market flotation of the state-owned group, CEO Stefano Donnarumma said this was a possibility within a wider range of …
Italian state railways will consider bringing in private investors, CEO says Read More »
By David Shepardson WASHINGTON (Reuters) -Chrysler parent Stellantis said Saturday it is recalling 1.46 million vehicles worldwide due to a software malfunction in the anti-lock brake system that can increase the risk of a crash. The recall includes nearly 1.23 million Ram 1500 trucks from the 2019 and 2021-2024 model years in the United States, …
Chrysler-parent Stellantis recalls 1.46 million vehicles worldwide Read More »
ZURICH (Reuters) – UBS would be given time to build up the necessary capital buffers to protect itself against financial difficulties, Swiss National Bank (SNB) Chairman Thomas Jordan said in an interview published on Saturday. Jordan told the Neue Zuercher Zeitung newspaper that improvements were needed in the wake of last year’s Credit Suisse crash …
UBS would be given time to adjust capital levels, says SNB’s Jordan Read More »
