By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Germany’s intensifying budget crisis is hitting Europe’s top economy where it hurts most: its reputation as a reliable partner for industry, some of which now fears that Berlin may not stand by its pledges to fund green and other projects. As well as tearing a 60 …
Analysis-Budget crisis shakes industry’s confidence in Germany Read More »
By Holger Hansen and Christian Kraemer BERLIN (Reuters) -German Chancellor Olaf Scholz promised on Friday to finalise the 2024 budget by the end of this year, in a video message that sought to reassure spooked citizens and investors in Europe’s largest economy after a court ruling tore up its spending plans. Scholz’s government was forced …
Germany’s Scholz promises swift budget overhaul in spending fiasco Read More »
(Reuters) – Elon Musk-owned social media company X could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pause their marketing campaigns, the New York Times reported on Friday. Musk backing an antisemitic post on the platform last week has led several companies including …
X may lose up to $75 million by year-end on advertiser exodus – NYT Read More »
LONDON (Reuters) -Britain’s biggest high street bank Lloyds is putting around 2,500 jobs at risk as part of a shake-up, a source familiar with the matter told Reuters, amid a renewed push by lenders to slash costs. Lloyds is poised to begin a consultation with staff in a number of roles, including analysts and product …
Britain’s Lloyds shake-up puts around 2,500 jobs at risk – source Read More »
By Giuseppe Fonte and Sudip Kar-Gupta ROME (Reuters) -The European Commission said on Friday it had given a positive assessment of Italy’s proposals to revise its post-COVID recovery plan, including investments and reforms to make the country’s economy greener under the REPowerEU scheme. Implementation of the plan is seen by investors and rating agencies as …
Italy gets EU backing to revise its post-COVID recovery plan Read More »
STOCKHOLM (Reuters) – The conflict between Swedish unions and Tesla heated up on Friday as a supplier of critical components joined in a sympathy action to get the electric car maker to sign a collective bargaining agreement for its Swedish workers. Around 50 workers that make specialized Tesla components at Hydro Extrusions, a subsidiary of …
Swedish union blocks Tesla components as dispute intensifies Read More »
FRANKFURT (Reuters) -Signa Real Estate Management Germany filed an official application for bankruptcy at the Berlin Charlottenburg district court, German magazine Spiegel reported on Friday, as the crisis at Rene Benko’s property group deepens. The request affects a German subsidiary of Signa Prime Selection, where tycoon Benko has collected his valuable existing properties, the report …
Signa unit files for insolvency as crisis at Benko’s empire deepens -Spiegel Read More »
By Valentine Hilaire and Divya Rajagopal (Reuters) -Panama’s top court started deliberations on Friday to rule on several constitutional challenges to First Quantum Minerals’ contract for the Cobre Panama mine, an outcome keenly watched by the global copper market and investors. First Quantum has faced massive protests since the Panama government signed a new contract …
Panama’s top court weighs challenges to First Quantum copper mine contract Read More »
By Jesús Aguado MADRID (Reuters) -The Bank of Spain has asked for detailed information after recent disruptions to the country’s payments network and is closely monitoring the situation together with the government, two sources with knowledge of the matter said on Friday. Spain’s largest payments platform Redsys crashed last weekend and again on Nov. 23, …
Spanish authorities seek details on pre-Black Friday payment network crash Read More »
By Ankika Biswas and Bansari Mayur Kamdar (Reuters) -Europe’s benchmark share index edged up on Friday to close higher for a second straight week, while investors assessed data from Germany for clues about the country’s economic outlook. The pan-European STOXX 600 rose 0.4% to close out the week with a 0.9% gain as investors focused …
European shares end week higher on media, retail boost Read More »
