Reuters UK Business

PARIS (Reuters) – Air France-KLM’s engineering and maintenance business is targeting a return to 2019 levels of operating profit in 2024, despite higher working capital, Anne Brachet, EVP of the division, said at the Paris Airshow on Wednesday. The division, which repairs and maintains aircraft, needs to stock certain parts to avoid shortages as the …

Air France-KLM maintenance arm aims for pre-COVID op profit in 2024 Read More »

LONDON (Reuters) – British house prices increased by 3.5% in the 12 months to April, the Office for National Statistics (ONS) said on Wednesday, slowing from the 4.1% rise in March. London was the region with the lowest annual growth, the ONS said, with prices in the capital up 2.4%. Recent measures of Britain’s housing …

UK house prices up 3.5% year-on-year in April Read More »

By Lewis Jackson SYDNEY (Reuters) -The chair of an Australian senate committee looking into PricewaterhouseCoopers’ leak of a confidential government tax plan has called for an international investigation into the matter. Committee chair Senator Richard Colbeck presented a 33-page report on the leak to parliament on Wednesday and said information released to date showed the …

Australian lawmaker calls for international probe into PwC govt tax leak Read More »

STOCKHOLM (Reuters) – Estonian ride-hailing and food delivery startup Bolt on Wednesday said it has signed a partnership with robotics firm Starship Technologies aiming to have thousands of robots delivering food across multiple countries, starting this year. Starship has a fleet of more than 2,000 robots in Estonia, the UK and U.S. and has completed …

Estonia’s Bolt, Starship in food delivery robot deal Read More »

BERLIN (Reuters) – Germany’s cartel office said on Wednesday that a number of Google’s practices in connection with Google Automotive Services are anti-competitive and that it intends to prohibit them. “In particular, we take a critical view of Google’s practice of only offering services for infotainment systems in bundled form, because this reduces competitors’ chances …

German cartel office: some Google Automotive Services practices anti-competitive Read More »

By Shreyashi Sanyal (Reuters) -European shares edged lower on Wednesday after the real estate sector led declines against rising euro zone bond yields, while data affirming stubborn inflation in Britain sent London stocks lower. The continent-wide STOXX 600 index dipped 0.1%. The exporter-heavy FTSE 100 index fell 0.1%, tracking a jump in the pound following …

Real estate drags European shares lower; UK inflation fuels rate hike worries Read More »

BERLIN (Reuters) – Robert Bosch subsidiary BSH is examining various options for its business in Russia and drawing up detailed plans, but a decision has not yet been made, a company spokesperson said on Wednesday. The statement comes after Russian newspaper Kommersant reported that BSH was in talks with a number of companies including China’s …

Bosch subsidiary BSH: no decision yet on Russia business Read More »

BERLIN (Reuters) – The German economy will contract more than previously expected this year as sticky inflation takes its toll on private consumption, the Ifo Institute said on Wednesday while presenting its forecasts. German gross domestic product is expected to fall by 0.4% this year, more than the 0.1% forecast by the Ifo Institute in …

German recession will be sharper than expected: Ifo Read More »

BERLIN (Reuters) -Electric vehicle (EV) sales in the European Union jumped 71% in May while new car registrations grew for the tenth consecutive month, rising 18.5%, data released by the region’s carmaker association showed on Wednesday. Sales of EVs and hybrid cars – which have both a battery and combustion engine – have soared in …

EU electric vehicle sales jump 71% helped by subsidies Read More »

BERLIN (Reuters) – Germany’s top carmakers have been accused by a Berlin-based human rights group of not showing they have carried out due diligence to prevent the risk of forced labour being used by their suppliers in Xinjiang, China, a potential violation of Germany’s new supply chain law. The group, the European Center for Constitutional …

German carmakers accused of not complying with supply chain law for Xinjiang links Read More »