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MUNICH (Reuters) – Saudia Group signed a deal with Lilium on Thursday to purchase 100 all-electric flying shuttles, the Germany-based air taxi developer said, one of the company’s biggest orders yet as it works to develop the aircraft. The Saudi state-owned airline made a firm order for 50 of Lilium’s electric Vertical Take-Off and Landing …

Saudia signs deal to buy 100 flying shuttles from Germany’s Lilium Read More »

By William Schomberg and Andy Bruce LONDON (Reuters) -Wages in Britain grew a bit more slowly but still increased at a pace that would normally be too strong for the Bank of England, leaving in doubt the possibility of an interest rate cut in two weeks’ time. A day after official data showed stubbornly high …

UK pay growth slows but remains high for Bank of England Read More »

(Reuters) – French shipping and logistics company CMA CGM has signed a partnership with Alphabet’s Google to speed up deployment of AI solutions across its operations worldwide, the two companies announced on Thursday. CMA CGM aims to increase efficiency and shorten delivery times through the optimisation of routes, container handling, and inventory management, while minimising …

Shipping giant CMA CGM signs AI deal with Google Read More »

By Dominique Patton PARIS (Reuters) -French automaker Renault said on Thursday its first-half sales volume rose 1.9% from the year-ago period on strong performance for its hybrids in Europe, its key region. The company sold 1,154,700 vehicles globally compared to 1,133,478 units last year, with almost three-quarters of that volume going to Europe. It said …

Renault first-half sales rise on strong demand for hybrids in Europe Read More »

By Foo Yun Chee BRUSSELS (Reuters) – EU competition policy should be revamped to help companies scale up and better compete in global markets, European Commission President Ursula von der Leyen said on Thursday, an indication that she may loosen the bloc’s merger rules if she gets another term. “I believe we need a new …

Von der Leyen says competition policy should help EU companies scale up Read More »

By Olivier Sorgho and Supantha Mukherjee (Reuters) -Nokia reported a 32% drop in second-quarter operating profit, citing weak demand for 5G telecom equipment, but the Finnish telecoms group said sales should recover towards the end of 2024 with the help of orders from North America. The profit, that excludes certain charges and asset revaluations to …

Nokia reports 32% drop in profit but sees recovery in 2nd half Read More »

LONDON (Reuters) – Britain’s Financial Conduct Authority (FCA) has told banks, payment firms and lenders to do more to ensure parliamentarians, senior public servants and their families are not treated unfairly, the watchdog said in a statement on Thursday. “Public service naturally comes with greater scrutiny. But it must be proportionate and shouldn’t disadvantage people …

UK regulator calls on firms to improve treatment of politically exposed persons Read More »

By Marie Mannes and Nick Carey STOCKHOLM (Reuters) -Volvo Cars cut its full-year retail sales forecast on Thursday, blaming European tariffs on EVs made in China that will hit one of the Swedish automaker’s key electric models until it shifts production to Belgium.  While reporting better than expected second-quarter results that sent its shares up …

Volvo Cars blames EU tariffs as it cuts 2024 sales forecast Read More »

By Virginia Furness LONDON (Reuters) – Financial regulators and supervisors in some G20 countries are overlooking the risks posed by biodiversity loss and deforestation because of insufficient data, focusing instead on climate risks, a report by the G20’s financial watchdog found. Regulators who have assessed nature-related risks found that biodiversity and nature loss could result …

Some G20 financial regulators overlooking risks linked to nature loss, watchdog says Read More »