MILAN (Reuters) – Italy should mimic France’s current auto purchase incentives that favour cars produced in Europe when it reviews its own national scheme, Stellantis CEO Carlos Tavares said on Tuesday in an interview with il Resto del Carlino newspaper. Italy announced earlier this year a new cash incentive scheme for auto purchases, worth 950 …
Italy should take French route on incentives, Stellantis CEO says Read More »
By Noele Illien and Stefania Spezzati ZURICH (Reuters) -The Swiss National Bank called on Tuesday for a review of bank capital regulations, saying Switzerland needed rules that recognise that UBS has become a bank with even more systemic importance following its takeover of Credit Suisse. In its annual report, the SNB also said it would …
Swiss central bank calls for more action on capital regulation Read More »
FRANKFURT (Reuters) – Growth in the euro zone might disappoint, dragging down inflation with it, European Central Bank policymaker Pablo Hernandez de Cos said on Tuesday. The euro zone has been stagnating for at least a year but the ECB expects the economy to begin accelerating this spring. “Risks to growth are clearly to the …
ECB’s de Cos says economic growth might disappoint Read More »
By Richa Naidu and Eva Mathews (Reuters) -Unilever said on Tuesday it would spin off its ice cream unit, home to popular brands such as Magnum and Ben & Jerry’s, into a standalone business and cut 7,500 jobs in a new cost-savings programme, sending shares surging in early trading. The spinoff will begin immediately and …
Unilever to spin off ice cream unit, cut 7,500 jobs for cost savings Read More »
By Susanna Twidale LONDON (Reuters) – Britain’s National Grid has proposed a 58 billion pound ($74 billion) investment programme to boost grid networks beyond 2030 to accommodate expected growth in electricity demand and an increase in renewable power projects. Britain has a target to decarbonise its power sector by 2035, which will require many more …
Britain’s National Grid proposes $74 billion energy system upgrade Read More »
ZURICH (Reuters) – SoftwareOne said on Tuesday that two of its key board members will not stand for re-election next month amid an ongoing power struggle at the Swiss IT services provider. Timo Ihamuotila, chief financial officer of Swiss engineering group ABB, and lawyer Isabelle Romy will step down from the board of directors at …
ABB’s CFO to leave SoftwareOne board in battle for control Read More »
(Reuters) – Diageo named former British senior civil servant John Manzoni on Tuesday as its next chair, replacing Javier Ferran who will retire in February 2025. The biggest Western spirits maker said in a statement that it began the search for a new chair in the summer of 2023, shortly before a November profit warning …
LONDON (Reuters) – Britain will decide on Tuesday whether to launch a lengthy investigation into a UAE-led takeover of the Telegraph newspaper, a move that could allow a proposed new law to stop the deal, Media Secretary Lucy Frazer said. The government is amending legislation to ban foreign states from owning newspapers in response to …
UK to decide on lengthy probe into UAE-Telegraph deal Read More »
(Reuters) – European stocks were subdued on Tuesday as losses in technology shares offset gains in consumer staple stocks ahead of key euro zone economic data due later in the day. The pan-European STOXX 600 index was down 0.1% by 8:24 GMT, led by a 0.6% selloff in technology shares. Investors will look out for …
European shares tick lower ahead of key economic data Read More »
By Stefania Spezzati, Oliver Hirt and Noele Illien LONDON/ZURICH (Reuters) -The Swiss National Bank is easing banks’ access to cash in emergencies, working with lenders to widen the pool of assets they can pledge to secure funds when under strain, two sources familiar with the matter told Reuters. The SNB has signalled it will grant …
Swiss central bank easing lenders’ access to cash in review of rules, sources say Read More »
