By Andy Bruce and Suban Abdulla LONDON (Reuters) -British inflation slowed in February, keeping the Bank of England on track to start cutting interest rates in the months ahead and offering some better economic news to Prime Minister Rishi Sunak before an election expected later this year. Consumer prices rose by 3.4% in annual terms …
Easing UK inflation keeps BoE on track for rate cuts later in 2024 Read More »
FRANKFURT (Reuters) – The European Central Bank cannot commit to a pre-set number of interest rate cuts even after it starts reducing borrowing costs as that will depend on incoming data, ECB President Christine Lagarde said on Wednesday. Many ECB policymakers have expressed support for a first reduction in borrowing costs from their current record …
ECB cannot commit to rate path even after first cut, Lagarde says Read More »
By Noele Illien BERN (Reuters) -Swiss financial regulator FINMA said on Wednesday it plans to carry out 40 reviews of UBS and two stress tests this year on the bank after its 2023 takeover of rival Credit Suisse heightened concerns about “too big to fail” lenders. FINMA laid out plans for regulating the country’s last …
Swiss financial regulator plans to stress-test UBS this year Read More »
(Reuters) – Volkswagen will bring new automated driving technologies to series production as it deepens its partnership with Mobileye in automotive driving technologies, Europe’s biggest carmaker said on Wednesday. Israeli automotive tech company Mobileye will provide driving assistance software based on its SuperVision and Chauffeur platforms to VW’s luxury brands such as Audi, Bentley, Lamborghini …
Volkswagen, Mobileye to bring new automated driving functions to series production Read More »
MOSCOW (Reuters) – Foreign companies leaving Russia have made exit contributions to the Russian budget of 35.7 billion roubles ($385 million) so far this year, online budget data showed, already surpassing full-year expectations. Russia has steadily tightened exit requirements for departing companies, demanding approval from a government commission, a 50% discount on any sale and …
Foreign firms’ Russian ‘exit tax’ payments at $385 million so far in 2024 Read More »
PARIS (Reuters) – France’s competition watchdog on Wednesday said it fined Alphabet’s Google 250 million euros ($271.73 million) for breaches linked to EU intellectual property rules in its relationship with media publishers, citing concerns about the company’s AI service. The watchdog said Google’s AI-powered chatbot Bard – since rebranded under the name Gemini – was …
French competition watchdog hits Google with 250 million euro fine Read More »
By Miranda Murray and Ludwig Burger (Reuters) -Swiss contract drug manufacturer Lonza said on Wednesday it would buy one of the world’s largest manufacturing sites for biologic drugs in California from drugmaker Roche for $1.2 billion. Lonza plans to spend another 500 million Swiss francs ($562.3 million) to upgrade the facility in Vacaville, which makes …
Lonza to buy large biologics site from Roche in US for $1.2 billion Read More »
(Reuters) – European shares opened lower on Wednesday, weighed down by a sell-off in luxury stocks after a sales warning from Kering, while investors remained cautious on concerns the U.S. Federal Reserve could signal a slower path of rate cuts this year. The pan-European STOXX 600 index was down 0.2%, as of 0806 GMT. The …
Luxury stocks drag European equities lower ahead of Fed meeting Read More »
BERLIN (Reuters) – Germany’s entrepreneurs value the European Union for the political stability and market access it delivers but say the bloc is too bureaucratic, a survey of 3,000 companies of the German chamber of commerce DIHK showed on Wednesday. At the same time, they emphasise that the competitiveness of the European economy urgently needs …
German entrepreneurs value EU achievements, but competitiveness seen at risk Read More »
LONDON (Reuters) – Britain’s aviation regulator said it could further reduce the fees charged by Heathrow Airport, the country’s largest hub, next year and in 2026, as it started a six week consultation on the matter. The Civil Aviation Authority said on Wednesday that it could potentially lower by 6% the proposed cap on passenger …
UK regulator proposes further cuts to Heathrow charges Read More »
