MILAN (Reuters) – Some of Europe’s biggest carmakers fell further on Thursday on concerns over how China will respond to new tariffs the European Commission slapped on imported Chinese electric cars in a bid to combat what they say is excessive subsidies from Beijing. By 0847 GMT, Europe’s auto index fell 2.2% to its lowest …
European auto stocks fall further on concerns over China’s tariff response Read More »
MOSCOW (Reuters) – New U.S. sanctions that forced Russia’s leading exchange to halt dollar and euro trading led to a range of varying prices and spreads as trading moved over-the-counter (OTC) on Thursday, obscuring access to reliable pricing for the Russian currency. The rouble fell to a one-month low of 91.7455 against the dollar in …
Rouble swings to opaque trading territory after new US sanctions Read More »
By Shristi Achar A (Reuters) – European equities lost ground on Thursday, weighed down by elevated government bond yields after the U.S. Federal Reserve cut its interest rate cut projections to just one this year. The continent-wide STOXX 600 was down 0.5% as of 0828 GMT, after closing around 1% higher in the previous session. …
European shares slide as Fed trims rate-cut projections Read More »
By Ludwig Burger (Reuters) -Austrian energy group OMV raised its 2030 earnings and cash-flow guidance during its capital markets day on Thursday, citing a more favorable market environment for oil, natural gas and refining margins. OMV is now targeting a clean CCS operating result, which excludes one-off items as well as short-term energy inventory holding …
OMV raises 2030 guidance on favorable energy markets Read More »
By Ananta Agarwal (Reuters) -FedEx is planning to cut between 1,700 and 2,000 back-office jobs in Europe, in its latest push to cut costs as the parcel delivery giant combats a slump in freight demand. The cuts will be spread over 18 months and would result in a pre-tax cost of $250 million to $375 …
FedEx to cut up to 2,000 back-office jobs in Europe amid weak freight demand Read More »
OSLO (Reuters) – Norwegian companies expect overall activity to increase somewhat in the time ahead, a central bank business survey showed on Thursday. “The share of contacts reporting full capacity utilisation has increased and contacts are planning for some growth in employment,” Norges Bank said in the quarterly survey, a key input for its June …
Norwegian companies see improved outlook, central bank survey shows Read More »
(Reuters) -Space tourism company Virgin Galactic announced a 1-for-20 reverse stock split on Wednesday, sending its shares down 19% in extended trading. The stock split is expected to go into effect on June 14 after markets close and resume trading on a split-adjusted basis after markets open on June 17. The company is planning the …
LONDON (Reuters) – Mexican magnate Carlos Slim has taken a 3.16% stake in BT, Britain’s biggest broadband and mobile operator, according to a stock market filing on Wednesday, in a boost to the company’s new chief executive Allison Kirkby. The stake bought by Slim, whose family controls telecommunications giant America Movil, has a market value …
MADRID (Reuters) – Around 1,800 workers at one of Zara owner Inditex’s main logistics centres in Spain will get a direct pay increase totalling 12% over the next three years plus additional compensation under a preliminary deal unions said they had reached with the company. Inditex declined to comment on the preliminary deal reached on …
Workers at Inditex’s Zaragoza logistics hub to get 12% pay rise Read More »
By Foo Yun Chee BRUSSELS (Reuters) – French company Societe du Tour de France lost a trademark fight against a German gym chain on Wednesday when a court ruled people were unlikely to confuse the famed bicycle race Tour de France with a similar phrase for the gym’s clothes and services. Societe du Tour de …
Tour de France loses trademark fight with German gym chain, EU court sees no confusion Read More »
