BRUSSELS (Reuters) -The European Union struck a deal on Friday to cut final energy consumption across the bloc by 11.7% by 2030, a goal lawmakers said would help fight climate change and curb Europe’s use of Russian fossil fuels. The deal was agreed after all-night talks between negotiators from EU countries and the European Parliament. …
COPENHAGEN (Reuters) – Norwegian oil services company BW Offshore on Friday said it had signed an agreement to sell its floating production, storage and offloading (FPSO) vessel BW Opportunity to an undisclosed third party for $125 million. The sale is expected to be completed by the end of the first quarter of this year. (Reporting …
By Andy Bruce and William Schomberg LONDON (Reuters) -Children returning to school after an illness-ravaged December provided an unexpected, one-off boost to Britain’s economy in January, when growth in output exceeded forecasts, data showed on Friday. The Office for National Statistics (ONS) said Britain’s economy expanded 0.3% month-on-month, after a drop of 0.5% in December …
Return to school unexpectedly boosts UK economy in January Read More »
MILAN (Reuters) – Shares in leading Italian banks UniCredit and Intesa Sanpaolo fell sharply on Friday following a sell-off in U.S. and Asian banks driven by concerns lenders potentially face losses on their government bond portfolios. The rise in interest rates has hammered the value of those portfolios, with Italian banks seen as particularly exposed …
Italy’s UniCredit, Intesa fall as investors fret over bond portfolio risks Read More »
ZURICH (Reuters) -Credit Suisse shares hit a new all-time low in early trading on Friday as the European banking sector suffered the fallout from a sharp sell-off in U.S. financial stocks. The embattled bank’s stock fell to 2.463 Swiss francs on the Swiss Market Index amid the sell-off. Rival UBS was down 4.7% as European …
Credit Suisse shares hit new all-time low as banks hit by U.S. fallout Read More »
LONDON (Reuters) – Britain’s financial watchdog said on Friday it expects the number of mortgage borrowers struggling to keep up with payments to rise at a much slower pace in the next 12 months than previously forecast because interest rate hikes will be more modest. The Financial Conduct Authority (FCA) said that in addition to …
Dampened rate expectations ease pressure on borrowers, says UK watchdog Read More »
BERLIN (Reuters) -Germany’s finance minister has delayed presenting his budget for next year, a state secretary in his ministry said on Thursday, as differences within the three-way ruling coalition show no sign of abating. Christian Lindner, head of the pro-business Free Democrats (FDP), had been due to unveil his plans for Europe’s biggest economy on …
German minister delays 2024 budget plans as coalition squabbles Read More »
By Niket Nishant, Medha Singh and Hannah Lang (Reuters) – Shares of crypto-focused companies fell on Thursday after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX’s implosion last year reverberates through the industry. Shares in Silvergate plunged more than 35% to $3.17, a day after hitting …
Crypto stocks slide after Silvergate decides to shut down Read More »
By Krystal Hu (Reuters) – OpenAI, the creator of the buzzy chatbot ChatGPT, will release tools to give users more control over the generative AI system, while improving the models for both general and specific use cases, its CEO Sam Altman said Thursday. Speaking to investors at a Morgan Stanley conference, Altman said the AI …
OpenAI to enable more customizations for enterprise and individual users Read More »
LONDON (Reuters) – British supermarket groups have started to remove some of their customer purchase limits on salad vegetables and fruit after weeks of shortages and empty shelves. A hit to imports from disrupted harvests in southern Europe and north Africa due to unseasonal weather has been exacerbated by British farmers planting fewer crops under …
UK’s Asda and Morrisons relax salad vegetable rationing Read More »
