By David Shepardson (Reuters) -United Auto Workers (UAW) union President Shawn Fain angrily tossed contract proposals from Stellantis in a trash can on Tuesday, saying the Chrysler parent is seeking numerous concessions in ongoing contract talks. “Stellantis proposals are a slap in the face,” Fain said during an online chat, disclosing the company is proposing …
UAW angrily tosses Stellantis contract offer in trash Read More »
By Niket Nishant and Chibuike Oguh (Reuters) -U.S. and European bank stocks dropped on Tuesday on renewed investor worries about the health of the industry after ratings agency Moody’s downgraded several U.S. lenders and Italy approved a surprise 40% windfall tax on its lenders. Moody’s cut credit ratings of several U.S. regional lenders on Monday …
Bank stocks sink on Moody’s downgrades, Italy’s windfall tax Read More »
By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators said on Tuesday they were investigating whether 1.1 million older Ram 1500 pickup trucks should be recalled for power steering loss issues. The National Highway Traffic Safety Administration (NHTSA) has received 380 reports alleging intermittent or complete loss of power steering assistance in 2013-2016 model year …
US agency opens probe into 1.1 million Ram 1500 pickup trucks over steering issues Read More »
By Clara Denina and Pratima Desai LONDON (Reuters) -Glencore said it remains on the hunt for acquisitions, including a possible partial or full takeover of Canada’s Teck, even as it reported a halving in earnings for the first half of the year on Tuesday and slashed shareholder payouts. The Swiss miner and trader joined rivals …
Glencore sticks to acquisition trail as earnings halve Read More »
MILAN (Reuters) – Italy’s Treasury and U.S. fund KKR are negotiating a memorandum of understanding (MoU) that would set the terms of a state-backed bid for Telecom Italia’s (TIM) landline grid, two people familiar with the matter said. The preliminary agreement could be signed as early as this week, one of the sources said, adding …
Italy, KKR discussing terms of state investment into fixed line grid – sources Read More »
By Gus Trompiz PARIS (Reuters) -French wine production in 2023 is expected to be near the average of the last five years, with a favourable outlook in Champagne and Burgundy contrasting that in disease-hit Bordeaux, the French farm ministry said. Overall wine output is projected to be between 44 million and 47 million hectolitres, a …
Mixed year for French wine as champagne flows, Bordeaux hit Read More »
By Siddarth S and Shreyashi Sanyal (Reuters) -Britain’s FTSE 100 closed lower on Tuesday, weighed down by declines in the mining sector after Glencore’s earnings plunged and China reported bleak trade data, while financials were also a big drag on the index. The blue-chip index ended 0.4% lower, with Glencore down 2.6% after the Swiss …
UK’s FTSE 100 dragged down by miners, financial stocks Read More »
By Maggie Fick and Nikolaj Skydsgaard COPENHAGEN/LONDON (Reuters) -Wegovy maker Novo Nordisk said on Tuesday a large study had shown the highly effective obesity treatment also had a clear cardiovascular benefit, boosting the Danish company’s hopes of moving beyond its image as a lifestyle drug. The increasingly popular Wegovy has transformed the weight-loss market since …
Novo’s Wegovy shows heart benefit alongside weight loss in trial Read More »
(Reuters) -Frankfurt Airport operator Fraport on Tuesday said its 2023 core profit would hit the upper half of its forecast range after second-quarter earnings were boosted by strong travel demand despite capacity shortages and a slow recovery in China. The German group, which operates 28 airports around the world, expects earnings before interest, taxation, depreciation …
German airport operator Fraport sees earnings boost on high travel demand Read More »
(Reuters) – Greece’s annual EU-harmonised inflation accelerated to +3.5% in July from +2.8% in June, data showed on Tuesday. EU-harmonised inflation is an index of components that is used across the EU to measure inflation in a consistent way. Official statistics service ELSTAT also reported that headline consumer inflation in July rose to +2.5% from …
Greek EU-harmonised inflation rises to 3.5% y/y in July Read More »
