LONDON (Reuters) – British food manufacturers reported the first drop in their production costs since 2016 in May as lower commodity and energy prices and cheaper shipping outweighed a jump in wage bills, a Lloyds Bank report showed on Tuesday. Manufacturers’ wage costs were rising more than twice as fast as average but commodity prices, …
UK food production costs fall for first time since 2016: Lloyds Read More »
LONDON(Reuters) – JPMorgan has made a strategic investment in Cleareye.ai, a financial technology firm focused on trade finance, the companies said on Tuesday. The parties, which entered into a commercial partnership last September, did not provide the financial terms of the transaction. Trade finance refers to financial products offered by banks and other institutions that …
JPMorgan invests in financial technology provider Cleareye.ai Read More »
By Kate Abnett LUXEMBOURG (Reuters) -European Union countries failed on Monday to agree on planned new rules for the bloc’s power market, having clashed over a proposal to extend subsidies for coal plants under the reform, and a push to expand state aid for other power plants. EU energy ministers meeting in Luxembourg ended talks …
EU countries fail to agree energy reforms after coal subsidy clash Read More »
By Tim Hepher, Allison Lampert and Valerie Insinna PARIS (Reuters) -Airbus announced a record 500-plane deal with Indian airline IndiGo on day one of the Paris Airshow on Monday, as strong demand for jets and air defences vied for attention with the industry’s supply chain problems. The multibillion-dollar deal for single-aisle planes – the largest …
Paris air show takes off with historic plane order Read More »
PARIS (Reuters) – French carmaker Renault appointed on Monday its group chief executive Luca de Meo as the future chairman and CEO of Ampere, the electric vehicle division which Renault is aiming to list on the stock market. Renault added that its board of directors had also set up an ad-hoc committee, chaired by Jean-Dominique …
Renault names Luca de Meo as new head of Ampere electric vehicle unit Read More »
By Friederike Heine, Supantha Mukherjee and Andreas Rinke BERLIN/STOCKHOLM (Reuters) -Intel will spend more than 30 billion euros ($33 billion) to develop two chip-making plants in Magdeburg as part of its expansion push in Europe, a deal Chancellor Olaf Scholz hailed on Monday as Germany’s biggest ever foreign investment. Berlin has agreed subsidies worth nearly …
Intel spends $33 billion in Germany in landmark expansion Read More »
LONDON (Reuters) – British sportswear and fashion retailer Frasers has acquired an 8.9% stake in electricals retailer Currys, regulatory filings showed on Monday, a week after it forged a strategic partnership with its online rival AO World. Last Monday, Frasers, formerly called Sports Direct and majority owned by Mike Ashley, disclosed an 18.9% stake in …
Mike Ashley’s Frasers discloses 9% stake in Currys Read More »
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European shares fell on Monday, as investors awaited further stimulus measures from China to revive demand and eyed testimony from Federal Reserve Chair Jerome Powell this week for more cues on the U.S. central bank’s rate outlook. The pan-European STOXX 600 index shed 1.0%, while Germany’s DAX …
European shares slide, Germany’s DAX retreats from record high Read More »
By Ankika Biswas and Shashwat Chauhan (Reuters) -The UK’s resources-heavy benchmark index slipped on Monday, dragged by mining stocks which tracked metal prices lower, while shares of pharmaceutical major AstraZeneca slipped on a report of the drugmaker’s plans to spin off its China business. The FTSE 100 slipped 0.7% as miners of both industrial metals …
London stocks lag as miners slip; AstraZeneca weighs Read More »
By Alistair Smout and Michael Holden LONDON (Reuters) -Britain’s main opposition Labour Party on Monday pledged to turn the country into a clean energy superpower by 2030, saying it would overturn a ban on new onshore wind farms while respecting any oil and gas licences granted before the next election. Labour, which opinion polls suggest …
UK’s Labour vows to make Britain a clean energy superpower by 2030 Read More »
