Reuters UK Business

FRANKFURT (Reuters) – Volkswagen is reorganizing its financial services holding companies, Volkswagen Bank and Volkswagen Financial Services said on Wednesday. “By bundling its activities in a European financial services provider, the refinancing strength of Volkswagen Bank GmbH can best be used for the growth of the leasing business in Germany and Europe,” they said. (Reporting …

Volkswagen’s financial services undergoing reorganization Read More »

BERLIN (Reuters) – Germany should “act reliably at the European level” and stick to the EU commitment of banning new combustion-engine cars from 2035, Germany’s Environment Minister Steffi Lemke told the German newspaper Sueddeutsche Zeitung on Wednesday. She added the regulations had been “coordinated and agreed upon in long negotiations.” “We should reliably implement these …

Germany should stick to commitment of banning new combustion-engine cars from 2035, environment minister says Read More »

(Reuters) – Russia’s Avilon autodealer group is to buy Volkswagen’s last Russian factory at Kaluga, business news site RBC reported on Wednesday, citing two unidentified sources. RBC reported that one of the sources said the deal was already agreed, and would be finalised on March 3. Avilon and Volkswagen did not immediately respond to requests …

Russia’s Avilon to buy Volkswagen’s Kaluga factory – RBC news site Read More »

TOKYO (Reuters) – Japan’s Fujitsu Ltd said on Wednesday that it will launch a takeover offer to acquire German cloud services provider GK Software SE for about 432 million euros ($460.04 million). Under the deal, Fujitsu, which has already secured 40.65% of the shares of GK Software from the German company’s top investors, will acquire …

Fujitsu to take over Germany’s GK Software for about 432 million euros Read More »

ATHENS (Reuters) – Greek manufacturing activity expanded in February at the fastest pace since last May, helped by renewed growth in output and an overall rise in new orders and employment, a survey showed on Wednesday. S&P Global’s Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about 10% of the Greek economy, rose to …

Greek Feb factory activity expands as new orders rebound -PMI Read More »

ZURICH (Reuters) – Switzerland’s mechanical and electrical engineering companies are cautiously optimistic about their prospects for 2023 after the sector reported higher sales, exports and orders last year. Sales rose 9.4% in 2022 compared with 2021, said Swissmem, the trade association whose members include ABB. liftmaker Schindler and Siemens. Exports rose by 5.6% to 72.3 …

Swiss industry optimistic for 2023 after sales rise in 2022 Read More »

LONDON (Reuters) – Overall activity in the euro zone’s manufacturing sector contracted again in February but output increased for the first time since May as supply chains continued to heal, a survey showed on Wednesday. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) dipped to 48.5 in February from January’s 48.8, in line with a …

Euro zone factory output returned to growth in February -PMI Read More »

Paris (Reuters) – The Bank of France will slightly raise its growth forecast for the French economy for 2023 on March 20, from +0.3%, French ECB policymaker Francois Villeroy de Galhau told a hearing of the French parliament’s finance committee on Wednesday. “In France, we expect growth to be slightly positive in 2023 – a …

Bank of France will slightly raise its 2023 growth forecast on March 20 Read More »