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Explainer-Europe’s carmakers look to overturn 2035 combustion engine ban

Dec 15 (Reuters) – Europe’s embattled carmakers are hoping for a reprieve when Brussels unveils an auto sector package on Tuesday, which could water down an effective ban on new combustion engines initially slated for 2035 as a shift towards electric engines stutters. The continent’s automakers from Volkswagen to Renault had high hopes for the …

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Russia seeks $230 billion in damages from Euroclear over seized assets

By Elena Fabrichnaya and Gleb Bryanski MOSCOW, Dec 15 (Reuters) – Russia’s central bank has filed a lawsuit in Moscow seeking $230 billion in damages from Euroclear, marking the first step in what the Kremlin has warned will be a legal nightmare for the EU over plans to use frozen Russian assets to support Ukraine. …

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German economy recorded robust start to fourth quarter, says ministry

BERLIN, Dec 15 (Reuters) – Germany’s economy appears to have had a robust start to the fourth quarter of 2025 based on current indicators, even as business expectations and consumer sentiment somewhat deteriorated, said the economy ministry in its monthly report. “At the end of the year, the German economy continues to find itself in …

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Oil tanker rates to stay strong into 2026 as sanctions remove ships for hire

By Jonathan Saul and Jeslyn Lerh LONDON/SINGAPORE, Dec 15 (Reuters) – The cost of shipping oil is likely to remain high in the first half of 2026 as the global fleet ages and a rising number of vessels are hit with Western sanctions, shipping sources say, though rates could be capped in the second half. …

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Amigo names Craig Ransley as chair amid operational shift

Dec 15 (Reuters) – Struggling British sub-prime lender Amigo Holdings said on Monday it has appointed Australian entrepreneur Craig Ransley as its executive chair, as the company continues to explore a potential reverse takeover amid plans to become a shell company. Separately, in its annual report, Amigo’s CEO Nick Beal also said the firm was …

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Switzerland’s KOF institute expects economic growth to slow next year despite trade deal

ZURICH, Dec 15 (Reuters) – Swiss economic growth will slow in 2026, the KOF Institute at ETH in Zurich forecast on Monday, as the positive impact of the agreement to reduce U.S. tariffs is offset by a deterioration in the international outlook. For 2025, KOF expects the Swiss economy to grow by 1.4%, when the …

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STMicro has shipped 5 billion chips for Starlink in past decade; that could double by 2027

By Nathan Vifflin Dec 15 (Reuters) – STMicroelectronics has shipped more than 5 billion radio-frequency antenna chips to Elon Musk’s SpaceX for the Starlink satellite network, and chips delivered under the partnership in the next two years could double that number, a senior executive at the chipmaker told Reuters. WHY IT’S IMPORTANT Ten years after …

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