By Francesca Landini MILAN (Reuters) -Italgas, Europe’s biggest gas distributor, said on Monday that it started exclusive talks to acquire smaller rival 2i Rete Gas. A merger between the two would be a major step in the consolidation of the gas distribution market in Italy with 2i Rete gas adding a 20% market share to …
Italgas begins exclusive talks to buy 2i Rete Gas Read More »
ZURICH (Reuters) – UBS on Monday said almost $5 billion worth of Additional Tier 1 (AT1) bonds, a form of debt, have been made available for equity conversion following a decision by shareholders of the Swiss bank last month. The bank said that as of May 10, the decision covers four outstanding AT1 issuances made …
UBS announces equity conversion provision for almost $5 billion in AT1 debt Read More »
(Reuters) -Volkswagen is exploring the sale of as much as1 billion euros ($1.08 billion) worth of stock in its heavy truckmaking arm Traton SE, Bloomberg News reported on Monday, citing people familiar with the matter. The German automaker is talking to potential advisers about the stake sale to institutional investors via an accelerated bookbuilding deal …
Volkswagen explores stock sale in truckmaker Traton, Bloomberg reports Read More »
STOCKHOLM (Reuters) – German Chancellor Olaf Scholz called on Monday for an expansion of the 5G mobile network in Europe at the Nordic summit on security and competitiveness in Stockholm. “We have to make it happen, that this progressive technology is the typical one very soon in Europe and that we are not falling behind …
Europe can’t lag behind in 5G technology – German Chancellor Scholz Read More »
By Yuvraj Malik and Aditya Soni (Reuters) -Melinda French Gates is leaving the charitable foundation she co-founded with former spouse Bill Gates more than 20 years ago and will get $12.5 billion for her own work to uplift women and families, she said on Monday. The billionaire benefactors parted ways in 2021 after 27 years …
Melinda Gates to exit Gates Foundation with $12.5 billion for own charity work Read More »
ZURICH (Reuters) – Artificial intelligence is hitting the global labour market “like a tsunami” International Monetary Fund Managing Director Kristalina Georgieva said on Monday. Artificial intelligence is likely to impact 60% of jobs in advanced economies and 40% of jobs around the world in the next two years, Georgieva told an event in Zurich. “We …
Artificial intelligence hitting labour forces like a “tsunami” – IMF Chief Read More »
PARIS (Reuters) – French President Emmanuel Macron believes Europe’s banking sector needs greater consolidation, even if that means a major French bank being bought by a European rival, he said in a TV interview with Bloomberg on Monday. Macron has long been pushing for a European capital markets union, arguing the current fragmentation of the …
Macron won’t rule out allowing sale of French banks to European rivals Read More »
PARIS (Reuters) – The European Commission said on Monday it had designated hotel reservation website Booking.com as a “gatekeeper”, which subjects it to strict EU obligations, and has opened an investigation to further determine the regulatory status of social media network X. Online advertising services X Ads and TikTok Ads as such did not qualify …
EU says Booking.com must comply with strict tech rules, investigates X Read More »
By Ankika Biswas and Johann M Cherian (Reuters) -Europe’s STOXX 600 closed flat on Monday, as investors geared up for a slew of economic data from the euro zone and a key U.S. inflation print later in the week that could test the benchmark index’s record-breaking run. The pan-European STOXX 600 was little changed, not …
European shares end flat as investors await for inflation test Read More »
By Pranav Kashyap and Purvi Agarwal (Reuters) -Britain’s FTSE 100 snapped its six-session winning streak on Monday, hurt by losses in aerospace and defence stocks, while investors awaited more data and comments from Bank of England (BoE) officials on the state of the economy. The blue-chip FTSE 100 fell 0.2% after hitting record highs in …
