By Foo Yun Chee and Bart H. Meijer LUXEMBOURG (Reuters) – French utility Engie on Tuesday won its fight against an EU order to pay 120 million euros ($130 million) in back taxes to Luxembourg, dealing a blow to the European Commission’s crackdown on sweetheart deals between EU countries and multinationals. The EU competition watchdog …
Engie wins court fight against $130 million EU tax order Read More »
By Suban Abdulla LONDON (Reuters) -British retail sales growth remained sluggish in November despite Black Friday deals, as the ongoing cost-of-living squeeze prompted shoppers to rein in spending on non-essential items, the British Retail Consortium said on Tuesday. The subdued data and a warning on the outlook from small fashion retailer Quiz added to concerns …
UK retailers see weak sales growth in November despite Black Friday deals Read More »
By Tristan Veyet and Matteo Allievi (Reuters) – German chemicals distributor Brenntag said on Tuesday it will reorganise its business into two independent divisions from 2024 as it faces pressure from activist investors to break up the company. In the reshuffle, the specialities arm, a wholesale business for process chemicals, and the essentials business, which …
Brenntag reshuffles business amid calls for full break-up Read More »
FRANKFURT (Reuters) – Inflation expectations among euro zone consumers held steady last month while the outlook for economic growth worsened, the European Central Bank said on Tuesday, based on its October consumer expectations survey. The ECB raised interest rates to a record high earlier this year to dampen price pressures but signalled steady rates for …
ECB survey shows steadying inflation expectations Read More »
BERLIN (Reuters) – Business activity in the German services sector declined in November although at a slower rate than the previous month, a survey showed on Tuesday. The HCOB final services Purchasing Managers’ Index (PMI) rose to 49.6 in November from 48.2 in October, hovering slightly below the 50 level that signals growth in activity. …
German services sector downturn eases in November -PMI Read More »
LONDON (Reuters) – The downturn in euro zone business activity eased last month but still indicates the bloc’s economy will contract again this quarter as the dominant services industry continues to struggle to generate demand, a survey showed. Last quarter the economy contracted 0.1%, according to official data, and Tuesday’s Composite Purchasing Managers’ Index (PMI) …
Fall in euro zone Nov business activity adds to recession expectations -PMI Read More »
FRANKFURT (Reuters) -The European Central Bank can take further interest rate hikes off the table given a “remarkable” fall in inflation and policymakers should not guide for rates to remain steady through mid-2024, ECB board member Isabel Schnabel told Reuters. The comments mark a dovish shift for Schnabel, seen as the most influential voice in …
ECB hawk Schnabel scraps more rate hikes after ‘remarkable’ inflation drop Read More »
KARLSRUHE, Germany (Reuters) – Germany’s highest court ruled on Tuesday that leasing customers can in principle claim damages over price fixing that took place among a cartel of leading European truckmakers between 1997 and 2011. The Federal Court of Justice found that collusion on list prices led to inflated leasing rates, confirming a 2021 ruling …
Top German court rules leasing customers can sue over truck cartel Read More »
COPENHAGEN (Reuters) – Swedish defence group Saab said on Tuesday it had signed a deal with the Swedish Defence Material Administration (FMV) to study new technologies for submarines and other equipment for use under water. The studies were “preparatory in nature”, Saab said in a statement. “Underwater capabilities are of vital interest for Sweden. Saab’s …
(Reuters) – European stocks inched lower on Tuesday, dragged by financials after Qatar Holding cut its stake in Barclays, while investors maintained caution ahead of key economic data due later in the day. The pan-European STOXX 600 index eased 0.1% by 8:12 GMT. Barclays dropped 3.3% after one of its largest shareholders Qatar Holding moved …
European shares slip as Barclays steers financials lower Read More »
