By Elizabeth Howcroft and Yamini Kalia (Reuters) -British mobile bank Monzo said on Thursday that TS Anil would step down after almost six years as CEO and be replaced by Diana Layfield from February next year. Layfield chairs development finance body British International Investment and previously worked for Google and Standard Chartered, said Monzo. One …
UK mobile bank Monzo to replace CEO Anil from February Read More »
(Reuters) -International Paper swung to a quarterly loss on Thursday, as the packaging firm recorded a $1 billion charge related to the sale of its cellulose fibers business. CONTEXT The Tennessee-headquartered firm recorded the impairment charge related to the sale of its global cellulose fibers business to private equity firm American Industrial Partners for $1.5 …
International Paper swings to quarterly loss on $1 billion impairment charge Read More »
FLORENCE, Italy (Reuters) -The European Central Bank kept interest rates unchanged at 2% in a well-telegraphed decision on Thursday, offering no clues about its next move, even as investors keep betting that one final cut may be on the agenda in the coming months. The ECB has kept rates steady since June after halving them …
ECB keeps rates unchanged as economy hums along despite trade strife Read More »
(Corrects headline and paragraph 1 in Oct. 29 story to say Wolfspeed forecast second-quarter revenue below estimates, not that it reported a lower profit; adds LSEG estimate in paragraph 10) (Reuters) -Wolfspeed on Wednesday forecast second-quarter revenue below analyst estimate, highlighting the challenges facing the U.S. chipmaker as it recovers from bankruptcy and confronts subdued …
Wolfspeed forecasts second-quarter revenue below estimate Read More »
SARAJEVO (Reuters) -Western Balkan countries should work towards introducing their own carbon pricing on electricity generation to mitigate the impact of new EU taxes on fossil fuel-generated energy to be introduced next year, an environmental agency said in a report on Thursday. Under its Carbon Border Adjustment Mechanism to be introduced on January 1, 2026, EU …
West Balkan power producers should adopt carbon pricing as EU tax looms, campaigners say Read More »
By Antonella Cinelli ROME (Reuters) -Italy narrowly avoided recession in the third quarter, data showed on Thursday, with gross domestic product stagnating following a marginal contraction in the second quarter, and underperforming most of its European peers. On a year-on-year basis, the euro zone’s third-largest economy grew by a weak 0.4% between July and September, …
Italy’s economy stagnates, narrowly avoiding recession Read More »
By Angelo Amante ROME (Reuters) -Italy’s Infrastructure Minister Matteo Salvini on Thursday vowed to press ahead with a bridge linking Sicily to the mainland but said he would answer Court of Auditors’ objections that have blocked the project, aiming to avoid an institutional clash. Salvini spoke after a meeting called by conservative Prime Minister Giorgia …
Italy’s Salvini vows to build Sicily bridge, avert clash with audit court Read More »
By Alexander Hübner, Linda Pasquini and Helen Reid HERZOGENAURACH, Germany (Reuters) -Puma’s new CEO on Thursday set out his plan to turn around the beleaguered German sportswear brand, saying it must discount less, improve marketing and cut its product range as it announced plans to slash 900 corporate jobs. Puma’s market value has halved since …
Puma to cut 900 jobs by end-2026 as new CEO resets strategy Read More »
By Aditya Soni and Deborah Mary Sophia (Reuters) -Microsoft’s AI infrastructure spending to meet growing cloud services demand is outpacing Wall Street expectations, deepening investor fears about the costs of sustaining the boom. The technology giant reported a record capital expenditure of nearly $35 billion for its fiscal first quarter on Wednesday and warned spending …
Microsoft’s massive AI spending draws investor concerns as cloud business booms Read More »
By Rachel More and Christina Amann BERLIN (Reuters) -An expensive course correction at subsidiary Porsche dealt Volkswagen a hefty blow in the third quarter, resulting in a 1.3-billion-euro ($1.5 billion) operating loss and piling billions more in costs on top of pressure from U.S. tariffs. Volkswagen booked 4.7 billion euros in charges due to Porsche’s …
Volkswagen skids into the red on $5.8 billion US tariff hit, Porsche woes Read More »
