Reuters UK Business

By David Shepardson WASHINGTON (Reuters) – The Biden administration plans to award General Motors and Chrysler-parent Stellantis nearly $1.1 billion in grants to convert existing plants to build electric vehicles and components, it said on Thursday. The Department of Energy (DOE) announced $1.7 billion in planned grants to help fund the conversion of 11 “at …

Biden administration to award nearly $1.1 billion to Stellantis, GM for EV production Read More »

(Reuters) – Barry Callebaut shares slid on Thursday after the Swiss chocolate maker reported nine-month results that raised investor concerns over the impact of higher cocoa prices on its cash flow. The stock dropped by 9% in morning trading, on track for its worst day since 2015, to 1.452 Swiss francs per share and was …

Barry Callebaut slides as high cocoa prices weigh on cash flow Read More »

MADRID (Reuters) – Spain’s Economy Minister Carlos Cuerpo said on Thursday a new central bank governor may not be appointed in time to represent Spain at the next European Central Bank monetary policy meeting on July 18. Deputy governor Margarita Delgado, who does not have voting rights, would attend the monetary policy meeting if the …

Spain may not have new central bank governor by July 18 ECB meet, economy minister says Read More »

MOSCOW (Reuters) – Russia’s state-owned Rostec corporation said on Thursday it had successfully conducted trials of armoured plating designed to protect critical infrastructure from drone attacks, grenades and bullets. Rostec said each plate weighed 30 kilogrammes and that such plates could potentially be fitted on oil and gas storage facilities, ammo depots and energy infrastructure. …

Russian corporation tests armoured plating to protect energy infrastructure from drones Read More »

By Greta Rosen Fondahn (Reuters) -Norway’s largest bank DNB reported a bigger-than-expected jump in second-quarter earnings on Thursday, and also forecast loan growth to pick up in the second half of 2024, supported by a stable Norwegian economy. “Increasing wages and more stable interest rates have helped shift the mood among our customers,” CEO Kjerstin …

Norway’s DNB trounces quarterly forecast as appetite for loans grows Read More »

By David Shepardson WASHINGTON (Reuters) – German carmaker BMW said on Wednesday it was recalling 394,000 vehicles in the United States due to faulty airbag inflators that could potentially cause serious or fatal injuries, the U.S. National Highway Traffic Safety Administration said on Wednesday. An air bag inflator could explode, sending potentially deadly sharp metal …

BMW recalling 394,000 US vehicles over potentially deadly air bag issue Read More »

BRUSSELS (Reuters) – Alphabet unit Google’s cloud subsidiary will look into other options in its fight against Microsoft’s licensing practices, the head of Google Cloud head said on Wednesday. The comments by Amit Zavery came after Microsoft reached a deal with trade body CISPE to resolve the latter’s antitrust complaint about its cloud licensing practices. …

Google exploring options against Microsoft’s licensing practices, Google cloud head says Read More »

By Chad Terhune (Reuters) -Only one in four U.S. patients prescribed Novo Nordisk’s Wegovy or Ozempic for weight loss were still taking the popular medications two years later, according to an analysis of U.S. pharmacy claims provided to Reuters that also showed a steady decline in use over time. The analysis does not include details …

Most patients stop using Wegovy, Ozempic for weight loss within two years, analysis finds Read More »

By Sinead Cruise LONDON (Reuters) – AXA IM Alts, the alternative investment arm of French insurer AXA, has raised $2.5 billion to pursue deals in the fast-growing market for bank risk transfers, as more lenders look to cash in on rising investor interest in their loan books. A total of 46 investors have provided the …

AXA IM arm raises $2.5 billion to invest in bank risk transfer trades Read More »

By Huw Jones LONDON (Reuters) – A coordinated move by stock markets in the European Union and Britain to catch up with Wall Street by halving the settlement time for transactions could realistically happen in late 2027, an EU regulatory hearing was told on Wednesday. Trades on the London Stock Exchange, Deutsche Boerse, Euronext and …

Late 2027 looms as ‘realistic’ date for Europe’s stock market shake up Read More »