Reuters UK Business Archives - Page 2541 of 3179

Canada, Volkswagen to invest more than C$20 billion in EV battery gigafactory

22 Apr 2023 22 Apr 2023

By Steve Scherer and Victoria Waldersee OTTAWA (Reuters) -Canada and Volkswagen on Friday together committed more than C$20 billion ($14.8 billion) for a battery gigafactory in St. Thomas, Ontario, the biggest single investment ever in the country’s electric-vehicle supply chain. Europe’s largest carmaker is investing up to C$7 billion to build the plant, Volkswagen said …

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Silver Lake to buy Germany’s Software AG in $2.42 billion deal

22 Apr 2023 22 Apr 2023

(Reuters) -Private-equity firm Silver Lake has offered to buy Software AG in a deal that values the German business software developer at 2.2 billion euros ($2.42 billion). The offer price of 30 euros per share in cash by Silver Lake-controlled Blitz 22-449 SE represents a premium of 53% to Software AG’s closing price of 19.59 …

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Naftogaz held talks with US oil companies about energy projects in Ukraine -FT

22 Apr 2023 22 Apr 2023

(Reuters) -Ukrainian state-owned gas company Naftogaz has held talks with Exxon Mobil Corp, Halliburton and Chevron about projects in Ukraine as the country looks to lure back foreign investment to its energy sector, the Financial Times reported on Friday. Oleksiy Chernyshov, chief executive of Naftogaz, told the FT that he held meetings in Washington with …

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S&P sees brighter outlook for UK credit rating as budget risks recede

22 Apr 2023 22 Apr 2023

(Reuters) – Ratings agency S&P Global revised up its outlook for Britain’s sovereign credit rating on Friday, removing the “negative” label which it applied after September’s “mini-budget” under then-Prime Minister Liz Truss. “The government’s decision to abandon most of the unfunded budgetary measures proposed in September 2022 has bolstered the fiscal outlook for the UK,” …

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Chile plans to nationalize its vast lithium industry

21 Apr 2023 21 Apr 2023

By Alexander Villegas and Ernest Scheyder SANTIAGO (Reuters) – Chile’s President Gabriel Boric said on Thursday he would nationalize the country’s lithium industry, the world’s second largest producer of the metal essential in electric vehicle batteries, to boost its economy and protect its environment. The shock move in the country with the world’s largest lithium …

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Credit Suisse saw record fund outflows during March turmoil, data shows

21 Apr 2023 21 Apr 2023

By Marc Jones LONDON (Reuters) – Credit Suisse saw investors pull a record 4.6 billion euros ($5.04 billion) out of its funds at the height of the bank’s troubles last month, data published on Friday showed. The data from Morningstar covered the whole of March, when a potential collapse of Credit Suisse saw Switzerland’s financial …

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Twitter drops ‘government-funded’ label on media accounts, incl in China

21 Apr 2023 21 Apr 2023

(Reuters) – Twitter dropped the “Government-funded” and “China state-affiliated” labels, which implies government involvement in editorial content, from the accounts of various global media organizations, their profiles showed on Friday. Twitter dropped the “Government-funded Media” label from the accounts of U.S.-based National Public Radio (NPR), British Broadcasting Corp and Canadian Broadcasting Corporation (CBC). It also …

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Bank of England must ‘stay the course’, deputy governor Ramsden says

21 Apr 2023 21 Apr 2023

By David Milliken LONDON (Reuters) -The Bank of England needs to focus on tightening monetary policy sufficiently to control inflation, and ensuring that no “inflationary mentality” develops, Bank of England Deputy Governor Dave Ramsden said in an interview published on Friday. “When I look at where inflation is and where it needs to get to, …

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Henkel expects net financial loss from sale of Russia business

21 Apr 2023 21 Apr 2023

(Reuters) – Henkel on Friday said it expects to see a net financial loss in the deal to sell its Russian business. The consumer goods group did not disclose the amount of losses but pointed out that the currency exchange effect would play a role in the transaction. Further details on the deal will be …

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Credit Suisse bondholders sue Swiss regulator over wipe-out

21 Apr 2023 21 Apr 2023

By Kirstin Ridley, Jahnavi Nidumolu and John Revill LONDON (Reuters) -Investors representing more than 4.5 billion Swiss francs ($5 billion) of Credit Suisse bonds have sued the Swiss regulator after their investments were wiped out during last month’s government-orchestrated rescue. Law firm Quinn Emanuel Urquhart & Sullivan, which is representing the bondholders, said on Friday …

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