PARIS (Reuters) – French economic activity will only pick up in 2025 as lower inflation boosts consumers’ purchasing power, falling short of the government’s growth expectations in the meantime, the central bank forecast on Tuesday in its quarterly outlook. The euro zone’s second-biggest economy is on course to expand 0.8% in 2023, according to the …
By Huw Jones LONDON (Reuters) – Shortening the time it takes to finalise a share trade in Europe would save industry just 41 million euros ($44.80 million) and take up to two years to phase in, Europe’s clearing house industry body said on Monday. Wall Street and Canadian markets are moving to ‘T+1’ in May, …
Shorter stock settlement time in Europe offers slim savings – industry body Read More »
By John O’Donnell, Stefania Spezzati and Elisa Martinuzzi (Reuters) – About six months before Credit Suisse was sold to rival UBS in a weekend rescue, the head of the Swiss central bank wanted to inject 50 billion Swiss francs ($57.6 billion) into the lender and nationalise it, according to three sources with direct knowledge of …
How Swiss authorities bungled Credit Suisse oversight Read More »
(Reuters) – Britain’s competition watchdog said on Monday Photoshop owner Adobe would not propose remedies to resolve regulatory concerns regarding the $20 billion buyout of cloud-based designer platform Figma. Adobe’s chief counsel, Dana Rao, had told Reuters last month that the company was open to proposing remedies. (Reporting by Radhika Anilkumar in Bengaluru; Editing by …
UK regulator says Adobe to not propose remedies for $20 billion Figma deal Read More »
LONDON (Reuters) -Britain plans to increase funding for local government councils by 4 billion pounds to 64 billion pounds ($81 billion) to address inflation-driven pressures, after cities Birmingham and Nottingham effectively declared bankruptcy. The settlement for 2024-25 marks a 6.5% rise from 2023-24, the government said in a statement on Monday in an attempt to …
UK sets out 64 billion pounds funding for local councils Read More »
(Reuters) – A Russian court on Monday found that Russia’s second-largest brewer, Baltika, could continue to use Carlsberg brands even though the Danish brewer has been stripped of control of the firm and revoked Baltika’s licences. Moscow took control of Carlsberg’s stake in July, taking Baltika under “temporary management”. That prompted CEO Jacob Aarup-Andersen to …
Russian court lets local brewer use Carlsberg brands despite Danish firm’s exit Read More »
By Supantha Mukherjee STOCKHOLM (Reuters) -The European Union is investigating social media company X over suspected breaches of obligations, partly relating to posts following Hamas’ attacks on Israel, its first probe under the Digital Services Act (DSA). The DSA came into force in November last year and requires very large online platforms and search engines …
EU targets Musk’s X in first illegal content probe Read More »
(Reuters) – The Abu Dhabi National Oil Co (ADNOC) is preparing to submit a fresh proposal of about 60 euros ($65.53) per share for Covestro AG, which could value the German plastics and chemicals maker at around 11.3 billion euros, Bloomberg News reported on Monday citing people familiar with the matter. The state oil giant …
ADNOC preparing to increase takeover offer for Covestro – Bloomberg News Read More »
BERLIN (Reuters) – Siemens AG is transferring another part of its stake in Siemens Energy AG to its pension fund, the company said on Monday, also announcing that CFO Ralf Thomas was stepping down from the Siemens Energy AG supervisory board. Siemens AG said in a statement it was transferring an 8 % stake in …
Siemens moves another part of Siemens Energy holding to pension fund Read More »
BERLIN (Reuters) – Germany’s flagship airline Lufthansa will not be able to expand its flight plan as much as planned as it struggles to crank up capacity amid unplanned engine overhauls and delivery delays, CEO Carsten Spohr told a German paper. Some 20 of Lufthansa’s 450 Airbus A320 will be grounded in 2024 due to …
Lufthansa to scale back flight plan growth – CEO tells paper Read More »
