(Reuters) -French tyre maker Michelin said on Friday it was selling its Russia Tyre Manufacturing Company (MRTMC) and Camso CIS in Russia to Power International Tires, a tyre distributor in the country. The agreement, approved by local authorities, will keep 250 jobs, mainly based at Michelin’s sole Russian plant in Davydovo, the group said. Michelin …
French tyre maker Michelin sells its activities in Russia Read More »
(Reuters) – EnBW has sold a minority stake of 24.95% in the transmission system operator TransnetBW to a consortium of banks, the German utility said on Friday, without disclosing financial details. The buyer Suedwest Konsortium Holding GmbH is led by the SV Sparkassen Versicherung and includes over 30 banks, insurance firms and companies in the …
By Sruthi Shankar (Reuters) -European shares inched up on Friday on gains in mining and technology stocks although the main benchmarks were set for steep weekly losses on growing concerns over a slowing global economy and the debt ceiling talks in the United States. The pan-European STOXX 600 index rose 0.2% after closing at an …
European shares rise from eight-week lows as miners, tech advance Read More »
By Martin Coulter and Supantha Mukherjee LONDON/STOCKHOLM (Reuters) -For months, Sam Altman, CEO of Microsoft-backed OpenAI has urged lawmakers around the world to draw up new rules governing the technology. On Wednesday, he threatened the ChatGPT maker may leave the EU if the bloc “overregulated”. Altman has spent the past week crisscrossing Europe, meeting …
OpenAI CEO’s threat to quit EU draws lawmaker backlash Read More »
By Tommy Wilkes, Alexander Hübner and Tom Sims LONDON/FRANKFURT (Reuters) -A United Nations-convened climate alliance for insurers suffered at least three more departures on Thursday including the group’s chair, as insurance companies take fright in the face of opposition from U.S. Republican politicians. At least seven members of the Net-Zero Insurance Alliance (NZIA), which launched …
Insurers flee climate alliance after ESG backlash in the U.S Read More »
(Reuters) – German airline group Lufthansa on Friday said its goal was to take over Italian carrier ITA Airways in full, but it could not be forced to do so, after it announced it was taking on a minority stake on Thursday. Lufthansa will take a 41% stake in ITA Airways by way of a …
Lufthansa intends to fully take over ITA Airways – CEO Read More »
By Johann M Cherian (Reuters) -UK stocks gained on Friday after data showed retail sales unexpectedly rose in April, highlighting resilience in consumer spending despite elevated inflation, while miner Rio Tinto posted its best day in more than a month on a brokerage upgrade. Retail sales volumes rose 0.5% in April after a 1.2% fall …
UK stocks rise on upbeat retail sales data, Rio Tinto boost Read More »
By Amanda Cooper LONDON (Reuters) – The pound rose on Friday after data showed UK retail sales volumes rose at their fastest pace in nearly two years, as renewed consumer confidence helped offset the sting of high inflation and rates. Between February and April, sales rose 0.8% from the previous three months, the biggest such …
Sterling gains as UK shoppers weather high inflation and rates Read More »
By Benjamin Mallet and America Hernandez PARIS (Reuters) – French riot police used tear gas and pepper spray against several hundred climate activists seeking to block shareholders from accessing oil major TotalEnergies’ annual shareholder meeting on Friday. Scuffles between police and protesters broke out ahead of the meeting, where investors are expected to vote on …
Police clash with climate activists ahead of TotalEnergies AGM Read More »
By William Schomberg LONDON (Reuters) -British consumers picked up the pace of their spending last month and sales volumes over the three months to April grew by the most since mid-2021, according to official data that suggested limited impact from the surge in inflation. Sales volumes in April rose by a slightly stronger-than-expected 0.5% from …
UK shoppers boost spending despite inflation’s bite Read More »
