By Amanda Cooper LONDON (Reuters) – The pound retreated on Thursday after data showed British inflation is proving far more persistent than expected and is far higher than anywhere else in Western Europe, underscoring the threat to an already fragile economy. Headline inflation fell to 10.1% in March from February’s 10.4%, but it was well …
Sterling retreats in the face of red-hot inflation Read More »
BRUSSELS (Reuters) – The euro zone swung to a trade surplus in February from a deficit a year earlier, non-adjusted data showed on Thursday, mainly thanks to a jump in exports of chemicals and machinery and the bulk of the improvement coming from Germany and Italy. The European Union’s statistics office Eurostat said the seasonally …
Germany, Italy push euro zone into trade surplus in Feb Read More »
By Leigh Thomas PARIS (Reuters) -France will see its national debt burden fall faster than previously expected even though the cost of interest payments is set to soar, Finance Minister Bruno Le Maire said on Thursday. The national debt burden, which reached a record just shy of 3 trillion euros at the end of last …
France sees debt burden easing, but interest costs surging Read More »
(Reuters) -Richard Branson’s Virgin Orbit Holdings Inc and its subsidiaries in the United States filed a Chapter 11 bankruptcy plan with the U.S. Bankruptcy Court for the District of Delaware, the company said in a statement on Wednesday. Earlier this month, Virgin Orbit filed for Chapter 11 bankruptcy protection after the satellite launch company struggled …
Branson’s Virgin Orbit files Chapter 11 bankruptcy plan Read More »
By Shubham Batra (Reuters) -European shares fell on Thursday as sticky inflation spurred concerns of more rate hikes by the European Central Bank, while investors looked ahead to more corporate earnings. The pan-European STOXX 600 index was down 0.3%, with automobile shares dragging the index. The auto index lost 3.1% after Tesla boss Elon Musk …
European shares fall as sticky inflation fans rate hike worries Read More »
By Andrey Sychev (Reuters) -Frankfurt-listed shares in Sartorius plunged to their lowest intraday level in more than a year and a half on Thursday after first-quarter sales at the lab supplies maker missed expectations and a key unit reported low orders. Shares in the Franco-German company fell as much as 11% on the DAX blue-chip …
Sartorius shares plunge after Q1 sales miss analysts’ forecasts Read More »
BERLIN (Reuters) – Deutsche Bank plans to reduce its executive board to nine members from 10 and to cut some jobs in infrastructure and in its private banking business to save costs, a source close to the bank told Reuters on Thursday. Germany’s largest bank, which is due to present first-quarter results on April 27, …
Deutsche Bank plans to cut jobs, shrink board – source Read More »
BERLIN (Reuters) – Volkswagen’s U.S.-assembled ID.4 models will be eligible for a $7,500 tax credit this year, according to the German carmaker, after new U.S. Treasury requirements on battery sourcing came into effect this week. Volkswagen added that it was the only international carmaker to have a full battery-electric vehicle eligible for the full credit. …
Volkswagen: US-made ID.4 models eligible for full tax credit Read More »
By Gilles Guillaume and Silvia Aloisi PARIS (Reuters) -Renault does not plan to drastically cut prices on its electric vehicles, including the recently launched Megane E-Tech, and follow U.S. rival Tesla in what the French carmaker’s finance chief on Thursday called a downward “spiral”. Tesla late on Wednesday posted its lowest quarterly gross margin in …
France’s Renault plans no big price cuts despite Tesla challenge Read More »
(Reuters) – Agricultural and construction machine maker CNH Industrial on Wednesday ceased its operations in Russia and said it sold its business in the region for about $60 million. In 2022, the Italian-American company halted operations at an assembly plant it runs in Russia. CNH stopped all exports of products and spare parts to Russia …
