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(Reuters) -Nvidia briefly surpassed Amazon.com Inc in market capitalization on Monday, as the euphoria around artificial intelligence catapulted the chipmaker to the fourth most valuable U.S. company. At a record high of $734.96, Nvidia was worth $1.82 trillion in market value, compared to $1.81 trillion for retail giant Amazon.com and a few billions away from …

AI frenzy puts Nvidia briefly ahead of Amazon in market value Read More »

(Reuters) -Stellantis said on Monday it will invest 103 million euros ($111.02 million) at its Szentgotthard facility in Hungary to increase production capacity of electric drive modules that will help the automaker grow its electric-vehicle portfolio. The investment is Stellantis’ third in an EDM manufacturing facility after Tremery-Metz in France and Kokomo, Indiana in the …

Stellantis to invest $111 million in Hungary facility to produce electric drive modules Read More »

By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund on Monday warned that any decisions taken about seizing frozen Russian assets should be backed with “sufficient legal support” to avert future risks. IMF First Deputy Managing Director Gita Gopinath, in an online interview with Foreign Policy magazine, said decisions about what to do with …

IMF warns that any action on Russian assets needs ‘sufficient legal support’ Read More »

By David Milliken and Andy Bruce LONDON (Reuters) -Low stock market valuations for Britain’s major banks are hard to explain, given that they are safer investments than they were before the 2007-08 global financial crisis, Bank of England Governor Andrew Bailey said on Monday. Bailey said he disagreed with investors who thought regulators required banks …

Low UK bank valuations are a ‘puzzle’, Bank of England’s Bailey says Read More »

By Maria Martinez LONDON (Reuters) – Germany is not the sick man of Europe, but an unfit man in need of structural reforms to strengthen its competitiveness, German Finance Minister Christian Lindner said on Monday. “Some say Germany is the sick man of Europe, I don’t think so,” Lindner said at an event at the …

Germany is an unfit man, economy isn’t in shape, finance minister says Read More »

LONDON (Reuters) – Bank of England Governor Andrew Bailey said on Monday it was not too important whether official data due this week shows the economy shrank in the final quarter of last year and entered a shallow ‘technical’ recession. “I would not put too much weight on that,” Bailey said in a question and …

Unimportant if UK enters shallow recession, Bank of England’s Bailey says Read More »

BRUSSELS (Reuters) – The EU adopted a law to set aside windfall profits made on frozen Russian central bank assets, it said on Monday, in a first concrete step towards the bloc’s aim of using the money to finance the reconstruction of Ukraine. The EU and the Group of Seven nations (G7) froze some 300 …

EU takes first step to use Russia’s frozen assets for Ukraine Read More »

By Olivier Cherfan and Augustin Turpin (Reuters) -Tyre maker Michelin on Monday reported record results, citing the delayed positive impact of its 2022 price adjustments, but remained cautious for the new fiscal year citing an “uncertain” market environment. “We are in a market context that remains complicated, a European situation that is not very bright, …

Michelin posts record annual profit, sees ‘marginal’ effect from Red Sea crisis Read More »