By Victoria Waldersee BERLIN (Reuters) -Volkswagen shares fell more than 2% early on Wednesday after it issued an overnight profit warning triggered in part by the possible closure of an Audi plant. The company lowered its 2024 operating return on sales forecast to 6.5-7% from 7-7.5% and said the Audi brand was considering closing its …
Volkswagen shares fall after warning on profit, Audi plant Read More »
(Reuters) – BNP Paribas has entered into a comprehensive partnership agreement with Mistral AI, covering all its current and future commercial models, the French bank said on Tuesday. The deal, which expands a relationship that started in September, will see BNP Paribas implement Mistral AI’s large language models across multiple business areas, such as customer …
MOSCOW (Reuters) – The lower house of Russia’s parliament on Wednesday gave its final approval to tax hikes proposed by the finance ministry that will see extra progressive income tax rates, corporation tax raised to 25% from 20% and new mineral extraction taxes. The tax hikes, mostly targeting companies and the wealthy, may add an …
Russia’s lower house of parliament approves sweeping tax hikes in final reading Read More »
MOSCOW (Reuters) – Russia’s finance ministry on Wednesday said it had extended a subsidised mortgage programme for families until 2030 following an order from President Vladimir Putin. The programme’s extension, which entitles families with young children to obtain mortgages at 6% interest, was a key part of Putin’s social pledges in the run-up to his …
Russia extends subsidised family mortgage programme until 2030 Read More »
By Aby Jose Koilparambil (Reuters) -Britain’s Barratt Developments expects its homebuilding targets for fiscal 2025 to drop by up to 7% as elevated mortgage rates and broader economic concerns hold back a housing market recovery. Shares in the FTSE 100 housebuilder were down 3% at 475.80 pence at 0756 GMT, the top percentage loser on …
UK’s Barratt flags up to 7% drop in 2025 homebuilding targets amid tough market Read More »
By Yadarisa Shabong (Reuters) – British insurer Direct Line will launch its eponymous motor insurance brand on price comparison websites, it said on Wednesday, in a major turnaround by new CEO Adam Winslow. The company has long prided itself on not being on price comparison websites by preferring to deal with customers directly in the …
UK’s Direct Line to list on price comparison websites in strategy shift Read More »
(Corrects location of closed site to Pennsylvania, not Alabama in paragraph 2) By Victoria Waldersee and Christina Amann BERLIN (Reuters) -Volkswagen on Tuesday warned it may close the Brussels site of its luxury brand Audi due to a sharp drop in demand for high-end electric cars that has hit Europe’s top carmaker, forcing it to …
Volkswagen may close Brussels factory as low EV demand hits Audi Read More »
MADRID (Reuters) – The Spanish competition watchdog is investigating energy firm Endesa for potential abuse of its dominant position in the electricity distribution market, the CNMC said on Wednesday. The CNMC competition authority said it has received several complaints against the company claiming that it discriminated against competitors by favouring its own subsidiaries in situations …
Spain’s competition watchdog probes Endesa for potential anti-competitive practices Read More »
BERLIN (Reuters) – Mercedes-Benz saw a 6% decline in sales in the second quarter as demand for battery-electric vehicles slumped, the carmaker said on Wednesday, promising to make up lost ground with improved availability and market launches. The company said it sold 600,100 cars and vans in the second quarter of 2024. Of those, 51,000 …
Slump in electric car demand hits Mercedes sales in Q2 Read More »
By Helen Reid, Layli Foroudi and Mimosa Spencer PARIS (Reuters) – In the touristy Saint-Ouen flea market, not far from the Stade de France where athletes will compete in this summer’s Paris Olympics, police officers swarmed in at dawn on April 3 and shut down 11 stores selling counterfeit bags and shoes. They confiscated 63,000 …
Deja-vu? In Olympics push, France ramps up war on fakes Read More »
