By Corina Pons and Helen Reid MADRID/LONDON (Reuters) -Zara owner Inditex said on Wednesday sales of its spring-summer collection jumped by 16% over the past month, maintaining its strong run despite higher wage costs and the loss of its sizeable Russian business. The world’s biggest fast fashion company reported a better-than-expected 54% rise in net …
Zara-owner Inditex enjoys strong start to summer Read More »
By Maria Martinez BERLIN (Reuters) -German industrial output rose less than expected in April, darkening the outlook for the euro zone’s largest economy following weak new orders data earlier this week. Production increased by 0.3% on the previous month, the federal statistical office said on Wednesday. In a Reuters poll, analysts had pointed to an …
German industrial output rises less than expected in April Read More »
By Suban Abdulla LONDON (Reuters) -British house prices dropped on an annual basis in May for the first time in 11 years, and pressure on prospective buyers from higher mortgage rates could deepen the downturn, mortgage lender Halifax said on Wednesday. The average property price fell 1.0% compared with May last year, the first year-on-year …
UK house prices post first annual drop since 2012, says Halifax Read More »
AMSTERDAM (Reuters) – Dutch energy company Eneco said on Wednesday it would build a 50 megawatt (MW) battery energy storage project in Belgium using Tesla battery packs, its largest such project to date. The project in Ville-sur-Haine will consist of 53 “Megapack” battery units from Tesla, able to deliver power for 4 hours or 200 …
Eneco to build 50 MW battery storage plant in Belgium using Tesla batteries Read More »
By Paul Sandle and Elizabeth Piper LONDON (Reuters) – Microsoft’s president met Britain’s finance minister for talks on Tuesday and said he would try to work with regulators to seek UK approval for its $69 billion purchase of “Call of Duty” maker Activision Blizzard. British competition authorities blocked the takeover in April in a shock …
Microsoft’s Smith meets UK finance minister after Activision block Read More »
By Andy Bruce LONDON (Reuters) – Britain’s largest mortgage provider Halifax will ramp up interest rates for new home loans on Wednesday, according to pricing provided to brokers, the latest major lender to do so in response to soaring funding costs. Unexpectedly strong British inflation data last month sparked a big jump in market interest …
Major UK lender Halifax pushes up mortgage rates Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Europe is falling behind other regions and needs to invest massively in its telecoms network to achieve its digital goals, EU industry chief Thierry Breton said on Tuesday as he defended a push to get Big Tech to help fund the rollout of broadband and 5G. Breton’s comments …
EU’s Breton cites telcos’ investment gap for Big Tech network fee push Read More »
(Reuters) -Stellantis NV said on Tuesday the automaker is carrying out top executive team changes effective July 1. Chief Technology Officer Ned Curic will extend his scope to include research and development, becoming chief engineering and technology officer. Curic, who started his stint at Stellantis in August 2021, will replace Harald Wester, who is retiring. …
(Reuters) – Press Acquisitions, which controls the Telegraph newspapers, has been threatened with receivership by lender Lloyds Banking Group over a longstanding debt owed by the parent company controlled by the Barclay family, the Financial Times reported on Tuesday. AlixPartners, the restructuring group, has been lined up as the receiver of Press Acquisitions if Lloyds …
Lloyds could push Telegraph news owner into receivership -FT Read More »
By Tim Hepher, Joanna Plucinska and Aditi Shah ISTANBUL (Reuters) -Global airlines called on Tuesday for broad co-operation to reach “very tough” emission targets and pledged to release interim climate targets next year as the industry aims for a goal of net-zero by 2050. Aviation, which produces around 2% of the world’s emissions, is considered …
Airlines call for emissions help in long-haul to net-zero Read More »
