Reuters UK Business

LONDON (Reuters) – The owners of London’s ExCel conference centre on Friday won an appeal brought by insurers, including Allianz, over pandemic-related losses, which its lawyers said could help thousands of other policyholders. London International Exhibition Centre Plc took legal action at London’s High Court in 2022 over business interruption losses caused by the COVID-19 …

London’s ExCel Centre wins insurance appeal over COVID-19 losses Read More »

By Tommy Reggiori Wilkes and John O’Donnell LONDON/VIENNA (Reuters) – A Russian court has frozen Raiffeisen Bank International’s local arm, killing off any prospect of selling the business for now and deepening the standoff between Moscow and the West.  Austrian bank RBI, active in Russia since the end of the Soviet Union, has increasingly frustrated …

Austrian Raiffeisen’s entanglement with Russia Read More »

SINGAPORE (Reuters) -The United States has imposed sanctions on hundreds of entities and individuals for supporting Russia’s war effort in Ukraine, including companies supporting the development of Russia’s Arctic LNG 2 project and its shipment of liquefied natural gas (LNG), as well as other future energy projects. The Arctic LNG 2 project by Russia’s Novatek …

Factbox-LNG entities under US sanctions to curb Russia’s Arctic LNG 2 project Read More »

(Reuters) – Italian retail sales rose 0.5% in July from the month before, data showed on Friday, following a 0.2% fall in June. Sales rose 1.0% in unadjusted year-on-year terms in July, ISTAT said. The data are expressed in value terms and are not adjusted for consumer prices, which increased 1.6% in July from the …

Italy retail sales rise 0.5% m/m in July Read More »

BERLIN (Reuters) – Volkswagen’s PowerCo battery subsidiary will build just one of two planned production lines at its Salzgitter plant in Germany for now, its works council said, as the sector adjusts to slowing demand for electric vehicles. Group technology chief Thomas Schmall on Thursday showed a staff meeting a slide showing plans for just …

Volkswagen’s German battery plant to stay at half capacity amid cost pressures Read More »