Reuters UK Business

PARIS (Reuters) – French luxury group Kering on Thursday named former Louis Vuitton and Prada communications executive Stefano Cantino as deputy CEO of Gucci to help steer a revival of the Italian label. Cantino, who will start on May 2, will report to Jean-François Palus, Gucci’s President and CEO, the statement said. “In this newly …

Kering picks luxury veteran Cantino as Gucci deputy CEO Read More »

By Tim Hepher (Reuters) – Airbus is incurring up-front costs as it prepares for higher jet production and plans a breathing space to absorb them once it reaches its output goal, its finance chief said on Wednesday. Airbus is targeting a roughly 50% increase in production of its A320neo cash-cow to 75 planes a month …

Airbus facing upfront costs to support jet output increase Read More »

By Riham Alkousaa BERLIN (Reuters) – Lithium supplier Vulcan Energy on Wednesday announced the start of production of the first lithium chloride at its extraction plant in Germany using geothermal energy, an essential step toward producing battery-grade lithium hydroxide. “To the best of our knowledge, it is the first locally produced resource, meaning that the …

Vulcan Energy starts its first lithium chloride production in Germany Read More »

By John Revill ZURICH (Reuters) – Switzerland’s finance minister took aim at bonus excesses and inflated salaries at banks on Wednesday as she unveiled 22 proposals designed to strengthen the Swiss financial sector after the implosion of Credit Suisse last year. Karin Keller-Sutter said she would have to work for 30 years to earn the …

Swiss minister criticises big bank bonuses as UBS set for stricter rules Read More »

By Stefania Spezzati LONDON (Reuters) – Switzerland called on Wednesday for changes to global measures to prevent liquidity crunches which were introduced after the global financial crisis, to make bank runs less calamitous. A year after the collapse of Credit Suisse, which was bought by UBS in an emergency rescue, Swiss officials and regulators are …

Swiss call for change to ‘unrealistic’ bank liquidity rules Read More »

By Foo Yun Chee BRUSSELS (Reuters) – Deutsche Telekom, Orange, Airbus and 15 other EU companies have criticised a proposal that would allow Amazon, Alphabet’s Google and Microsoft to bid for highly sensitive EU cloud computing contracts. The draft plan from Belgium, which currently holds the rotating European Union presidency, concerns a certification scheme (EUCS) …

Deutsche Telekom, Airbus slam plan allowing Big Tech access to EU cloud data Read More »

By Huw Jones LONDON (Reuters) -The high concentration in crypto trading on a handful of exchanges, with Binance alone accounting for about half the market, raises concerns about the impact of a failure on the sector, the EU’s securities watchdog said on Wednesday. The bloc is rolling out the world’s first comprehensive set of rules …

Crypto trading concentration a ‘considerable concern’, EU watchdog says Read More »

WARSAW (Reuters) – Poland’s state-controlled energy company, Orlen, on Wednesday named Ireneusz Fafara as CEO. He was formerly the head of the company’s Lithuanian operations. The company had conducted a nearly two month-long search with 260 candidates applying to become members of the management board. In February, Orlen’s supervisory board underwent sweeping changes at the …

Poland’s Orlen names former Lithuanian chief as CEO Read More »