By Joseph White and Christoph Steitz MUNICH (Reuters) – Stellantis expects a major battle with Chinese rivals in the European market for electric vehicles and expects significant consequences as a result, the group’s Chief Executive Carlos Tavares said on Wednesday. Tavares said tariffs on Chinese vehicles imported to Europe and the United States are “a …
Stellantis CEO: electric vehicle tariffs are a trap Read More »
(Reuters) -British online used-car retailer Cazoo Group will appoint administrators from advisory firm Teneo for the viability of its business, the company said in a regulatory filing on Tuesday. Teneo’s administrators will continue to pursue sale transactions for remaining assets of the company, Cazoo said. The company added that it was currently engaged in active …
British car retailer Cazoo files for administration Read More »
MILAN (Reuters) – Swisscom has secured an initial go-ahead from Italy’s government for its planned acquisition of Vodafone Italia, the Swiss telecoms company and a source close to the matter said on Tuesday. So-called “golden power” legislation allows Rome to block or impose conditions on deals in sectors considered strategic such as banking, energy, telecommunications …
Swisscom gets first go ahead from Rome for Vodafone Italia acquisition Read More »
(Reuters) – French drugmaker Sanofi on Tuesday announced it is collaborating with artificial intelligence company OpenAI and Formation Bio to boost its drug development projects through the use of Artificial Intelligence. Sanofi said in a statement that the partnership with OpenAi will allow it to access proprietary data to develop AI models for its biopharma …
Sanofi partners with OpenAI, Formation Bio on AI-driven drug development Read More »
By Michael Holden LONDON (Reuters) -Prince Harry cannot amend his lawsuit against Rupert Murdoch’s British tabloid newspapers to include allegations involving his wife Meghan and he and others cannot pursue claims against the media mogul himself, London’s High Court ruled on Tuesday. The prince and more than 40 others are suing News Group Newspapers (NGN) …
Prince Harry cannot take allegations against Murdoch to trial, court rules Read More »
By Clark Mindock (Reuters) – German chemical company BASF said on Tuesday it reached a $316.5 million settlement with some U.S. public water systems that claimed toxic “forever chemicals” in firefighting foam made by the company contaminated their water supplies. The money provided by the settlement, which must be approved by a federal judge, will …
BASF to pay $316 million to settle PFAS ‘forever chemicals’ US lawsuit Read More »
BRUSSELS (Reuters) -EU countries have formally adopted a plan to use windfall profits from Russian central bank assets frozen in the EU for Ukraine’s defence, the Belgian government said on Tuesday. The text only needed a rubber-stamp by ministers after EU ambassadors reached the agreement in early May. A senior Russian diplomat denounced the plan, …
EU countries adopt plan to use profits from frozen Russian assets for Ukraine defence Read More »
By Sam Tobin LONDON (Reuters) -Tom Hayes, the first trader jailed worldwide for interest rate rigging, was on Tuesday refused permission to appeal against his conviction at the United Kingdom’s Supreme Court, but was nonetheless given a potential route to clear his name. Hayes, a former star Citigroup and UBS trader, was convicted in 2015 …
UK Libor trader Hayes given route to appeal rate-rigging conviction at Supreme Court Read More »
By David Milliken and William Schomberg LONDON (Reuters) -Bank of England Governor Andrew Bailey set out an outline for how the central bank intends to keep money markets stable as it sells more of the 875 billion pounds ($1.11 trillion) of government bonds it bought between 2009 and 2021. Bailey said in a speech on …
BoE’s Bailey sets out reserves plan as it unwinds huge bond purchases Read More »
By Sruthi Shankar and Johann M Cherian (Reuters) -European stocks closed slightly lower on Tuesday, their third out of four sessions in the red, as caution around interest rate reductions dominated, with investors waiting for economic data due later in the week. The pan-European STOXX 600 index ended 0.2% lower, after hitting a one-week low …
Europe’s STOXX 600 ends lower as rate uncertainty prevails Read More »
