By David Shepardson (Reuters) – The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo Cars electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. The Treasury said the new requirements effective on Tuesday will also cut by half credits for the Tesla Inc …
VW, Rivian, Nissan, BMW lose access to US EV tax credits Read More »
(Reuters) – Shares of Manchester United PLC fell 13% on Monday after a report said the Glazer family was confident of securing an investment that would allow them to retain ownership of the British soccer club. The family also expects the investment to help them double the value of the club over the next 10 …
Manchester United tanks on report Glazers may avoid sale with new investment Read More »
BERLIN (Reuters) – Inflation is a risk for financial stability and central banks must take this into consideration, German Finance Minister Christian Lindner said on Monday. “Inflation is a tough beast,” said Lindner at an event of the association of German banks, adding that inflation is a risk not only for the financial system, but …
Inflation is a tough beast says German finance minister Read More »
By Shristi Achar A and Johann M Cherian (Reuters) -The UK’s FTSE 100 eked out small gains for a seventh straight session on Monday, as a weaker pound lifted shares of internationally focused firms even as heavy-weight banks clocked their biggest loss in over three weeks. The FTSE 100 closed 0.1% up, hitting its highest …
Consumer staples boost FTSE 100; banks limit gains Read More »
By Shubham Batra (Reuters) – European shares rose on Monday as investors bet on big U.S. banks continuing to post strong quarterly results this week, while also looking forward to the Federal Reserve’s rate-hiking cycle nearing an end. The pan-European STOXX 600 index edged 0.3% higher, after hitting its highest in over a year last …
European shares rise ahead of more big U.S. bank earnings Read More »
By Victoria Waldersee BERLIN (Reuters) – The consortium behind a European battery passport project laid out on Monday how companies must prepare to meet increasingly stringent regulations on disclosing batteries’ origins and social and environmental footprints. Manufacturers in Europe must disclose the carbon footprint of their batteries from 2024 and comply with a CO2 emissions …
Europe’s battery pass project outlines manufacturers’ transparency challenge Read More »
(Reuters) -Payments provider Network International said on Monday it had received a takeover proposal from a consortium of private equity firms CVC Capital and Francisco Partners, valuing it at about 2.1 billion pounds ($2.56 billion). Shares in the London-listed company rose as much as 23% to 370 pence, below the possible offer price of 387 …
Network International mulls $2.56 billion takeover bid from private equity firms Read More »
By Gilles Guillaume PARIS (Reuters) -French carmaker Renault is reviewing its pricing policies of electric cars worldwide to ensure it stays competitive after a wave of price cuts by U.S. rival Tesla Inc, a top executive said on Monday. After slashing prices several times in the United States, Tesla on Friday cut prices in Europe- …
Renault reviewing prices worldwide after Tesla cuts Read More »
By Sinead Cruise LONDON (Reuters) -Institutional Shareholder Services (ISS) has recommended Barclays investors re-elect all board members at next month’s annual meeting, sapping the momentum of protests against bosses for supporting former CEO Jes Staley who is being investigated over his links with sex trafficker Jeffrey Epstein. The influential proxy advisor said in a report …
Shareholder group ISS backs Barclays board over former CEO Staley Read More »
MILAN (Reuters) -Ajay Banga, the U.S. nominee to run the World Bank, will not seek reappointment as the chairman of Exor, the holding company of Italy’s Agnelli family, Exor said on Monday. Indian-born Banga, 63, the former CEO of Mastercard, was picked earlier this year by U.S. President Joe Biden to head the World Bank, …
Exor picks Nohria as new chairman to succeed World Bank nominee Banga Read More »
