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German services sector remains under pressure, PMI survey shows

5 Mar 2024

By Maria Martinez BERLIN (Reuters) – Business activity in Germany’s services sector remained under pressure from weak demand in February, a survey showed on Tuesday. The HCOB final services Purchasing Managers’ Index (PMI) rose to 48.3 in February from 47.7 in January, but remained below the critical 50.0 mark that separates growth from contraction. “Although …

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Global M&A volumes to rise by 50% this year, says Morgan Stanley

5 Mar 2024

(Reuters) – Global deal-making volumes will rise by 50% this year compared to 2023 as fears over funding costs, inflation and recession concerns abate, Morgan Stanley said in a note on Monday. “We think that this ‘winter’ for mergers and acquisitions (M&A) is thawing and activity is set to return cyclically and secularly,” the Wall …

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Downturn in French services sector eases in February, PMI survey shows

5 Mar 2024

PARIS (Reuters) – The slowdown in France’s services sector eased in February, a survey showed on Tuesday, as company executives reported signs of recovery in export demand and a more optimistic business outlook. The HCOB France final purchasing managers index (PMI) for the services sector, compiled by S&P Global, rose to 48.4 in February from …

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Italy’s service sector gains momentum in February, PMI survey shows

5 Mar 2024

ROME (Reuters) – Italy’s services sector grew for a second month running in February and at its fastest rate since June last year, a survey showed on Tuesday, supported by a rise in new business in the euro zone’s third largest economy. The HCOB Purchasing Managers’ Index (PMI) for Italian services came in at 52.2 …

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Risk reigns in ocean shipping, industry and economic experts say

4 Mar 2024

By Lisa Baertlein LONG BEACH, California (Reuters) – Risk is the “new normal” for the global ocean shipping industry that handles 80% of global trade as pressure from geopolitical tensions, rising protectionism and climate change mounts. “There are going to be global tensions … and I think global dangers, at a level we haven’t seen …

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X, ByteDance, Booking.com could face tough EU rules

4 Mar 2024

By Foo Yun Chee BRUSSELS (Reuters) – Elon Musk’s X social media platform, TikTok owner ByteDance and Booking.com may meet EU criteria subjecting them to tough tech rules as so-called gatekeepers, the European Commission said late Friday, after notifications by the companies. The Digital Markets Act (DMA) designates companies with more than 45 million monthly …

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Apple hit with $2 billion EU antitrust fine in Spotify case, will appeal

4 Mar 2024

By Foo Yun Chee BRUSSELS (Reuters) -Brussels on Monday fined Apple 1.84 billion euros ($2 billion) for thwarting competition from music streaming rivals via restrictions on its App Store, the iPhone maker’s first ever penalty for breaching EU rules.  A basic penalty of 40 million euros was inflated by a huge lump sum included as …

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Pension fund AustralianSuper to invest 8 billion pounds in Britain

4 Mar 2024

LONDON (Reuters) – The British government said on Monday that pension giant AustralianSuper was set to invest 8 billion pounds ($10.15 billion) more in the country, taking its total investment to over 18 billion pounds by the end of the decade. “This major investment from AustralianSuper will promote growth and strengthen the UK’s position as …

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French utility EDF lifts cost estimate for new reactors to 67 billion euros – Les Echos

4 Mar 2024

PARIS (Reuters) – French state-owned utility EDF has raised its cost estimate for the construction of six new nuclear reactors to 67.4 billion euros ($73.18 billion), Les Echos newspaper reported on Monday, citing unidentified sources. The utility had first estimated their cost at 51.7 billion euros, though it acknowledged that figure could rise in later …

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