HELSINKI (Reuters) -Finnish power utility Fortum has formally notified the Kremlin that it strongly objects to what it said was Russia’s “unlawful” seizure of its subsidiary in the country. Russian President Vladimir Putin signed a decree on April 25 to establish temporary control of Fortum’s Russian assets, which the utility has openly tried to sell …
Fortum objects to ‘unlawful’ seizure of Russian assets Read More »
FRANKFURT (Reuters) -The European Central Bank will continue raising interest rates until inflation is under control, two ECB policymakers said on Friday as surveys showed the fight against rising prices was far from over. French central bank governor Francois Villeroy De Galhau and his Lithuanian peer Gediminas Simkus reaffirmed the ECB’s intention to further increase …
ECB policymakers promise more hikes to beat inflation Read More »
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Influential labour representatives are open to private equity players taking a stake in Thyssenkrupp’s warship division Marine Systems (TKMS) and will set up a committee in the coming days to join the negotiation process. “We are not generally opposing private equity taking a stake in TKMS,” …
Germany’s top union to enter Thyssenkrupp defence sales talks Read More »
FRANKFURT (Reuters) – Retail sales in the euro zone fell more than expected in March, Eurostat said on Friday, as rapid inflation and rising interest rates ate deep into disposable incomes to limit households’ purchasing power. Retail sales volumes in the 20 nations sharing the euro currency fell by 1.2% in March from the previous …
Euro zone retail sales fall more than expected in March Read More »
BERLIN (Reuters) – The German economy ministry proposed a subsidised industrial electricity price of 6 cents per kilowatt hour (kWh) in a statement released on Friday. The subsidy would be in place until 2030 and would cost between 25 billion euros ($27.56 billion) and 30 billion euros based on current market prices, the ministry said, …
German economy ministry proposes industrial power price of 6 cents per kWh Read More »
By Pietro Lombardi MADRID (Reuters) -Spanish oil company Cepsa’s CEO on Friday criticized a windfall tax Madrid slapped on Spain’s largest energy firms as poorly designed after it dragged the company into a first-quarter loss. “The fact that the extraordinary tax imposed on Spanish energy companies pushed Cepsa into an IFRS loss in the first …
Cepsa CEO blasts Spain’s windfall tax that sank it into loss Read More »
By Tom Wilson and Angus Berwick LONDON (Reuters) – Israel has seized around 190 crypto accounts at crypto exchange Binance since 2021, including two it said were linked to Islamic State and dozens of others it said were owned by Palestinian firms connected to the Islamist Hamas group, documents released by the country’s counter-terror authorities …
(Reuters) – UBS economists said the European Central Bank (ECB) was likely to hike interest rate by another 25 basis points (bps) in July, lifting the benchmark for borrowing costs to 3.75%, before taking a pause for this rate increase cycle. The brokerage said in a note on Thursday that inflation will likely slowly improve …
UBS expects ECB to deliver another 25 bp rate hike in July before taking pause Read More »
By Sarah Young and Federica Mileo LONDON/PARIS (Reuters) – British Airways-owner IAG and Air France-KLM reported bumper summer bookings as travellers pressed ahead with holiday plans despite a cost-of-living crisis, though IAG’s boss warned strikes and lack of staff could still disrupt major airports. European airlines and airports are under pressure to avoid a repeat …
European airlines see strong summer bookings, hope to avert chaos Read More »
(Reuters) -British outsourcing company Capita has confirmed to pension clients that some data it processed was likely to have been hacked during a recent cyber incident, the Financial Times reported on Thursday. The outsourcing company, which was affected by a cyber incident in March, last month said that there was no evidence of any data …
Capita warns some pensions data likely taken in cyber attack -FT Read More »
