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FRANKFURT (Reuters) – Volkswagen’s luxury cars unit Audi on Monday cancelled some production shifts at its headquarters in Ingolstadt, southern Germany, amid the first signs of an economic impact of flooding in the region. The early and the late shifts assembling the A3 and Q2 vehicle models in Ingolstadt were cancelled, the company said in …

VW’s Audi cuts shifts as flooding in Germany disrupts workers’ commute Read More »

LONDON (Reuters) – The long-running downturn in euro zone manufacturing may have turned a corner last month, according to a survey which showed new orders declined at their slowest pace in two years, leading to improved business confidence. HCOB’s final euro zone manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 47.3 in …

Euro zone manufacturing sees potential signs of recovery in May, PMI shows Read More »

By Shristi Achar A (Reuters) -European shares rose on Monday, tracking gains in Asian equities, while investors braced for a key interest rate decision from the European Central Bank (ECB) later this week. The pan-European STOXX 600 was up 0.6% by 0832 GMT, extending gains for the third straight session. The sentiment was upbeat as …

European shares kick-start week higher, focus on ECB rate verdict Read More »

LONDON (Reuters) – British manufacturers reported a return to growth last month after a long slowdown, according to a survey published on Monday, but the higher prices charged by firms may add to the Bank of England’s caution about cutting interest rates. The final reading of the S&P Global UK Manufacturing Purchasing Managers’ Index for …

UK factories return to growth, prices rise by most in a year, PMI shows Read More »

MOSCOW (Reuters) – Russian energy giant Gazprom’s average daily natural gas supplies to Europe in May rose by 7.3% from April and 39% year on year, Reuters calculations showed on Monday. The calculations, based on data from the European gas transmission group Entsog and Gazprom’s daily reports on gas transit via Ukraine, showed that average …

Russia’s May pipeline gas exports to Europe jump 39%, calculations show Read More »

BERLIN (Reuters) – The downturn in Germany’s manufacturing sector, which accounts for about a fifth of Europe’s biggest economy, showed signs of bottoming out in May as output and new orders declined at a much slower pace than the month before, a survey showed on Monday. The HCOB final Purchasing Managers’ Index (PMI) for German …

Downturn in German manufacturing may be bottoming out, PMI shows Read More »

(Reuters) -Shares of British drugmaker GSK dropped more than 9% on Monday, after a Delaware judge allowed more than 70,000 lawsuits alleging its discontinued heartburn drug Zantac caused cancer, to go forward. GSK said it disagreed with the ruling and would immediately appeal. Its shares were down 9.8% at 1,596 pence by 0727 GMT. Following …

GSK shares tumble 9% after 70,000 Zantac lawsuits allowed to move forward Read More »

By Tim Hepher and Alexander Cornwell DUBAI (Reuters) -The head of Dubai airline Emirates urged Boeing to pick an engineering and business heavyweight to lead a deep overhaul of the U.S. aerospace giant and said the task of ending the planemaker’s recent confidence crisis “must get done”. “Is it fixable and salvageable? Yes it is. …

Emirates boss says Boeing needs strong CEO to end crisis Read More »

FRANKFURT (Reuters) – Europe must work more closely on defence projects and raise investment in production capacity, the chief executive of Airbus told a German newspaper. Guillaume Faury told Frankfurter Allgemeine Zeitung that the European Union was buying five times less armaments than the United States and that up to three quarters of those were …

Europe needs to invest more in defence production, Airbus CEO says Read More »