Reuters UK Business

By Maria Martinez BERLIN (Reuters) -The German economy contracted more strongly than expected in the final three months of 2022, as inflation and the energy crisis took their toll on household consumption and capital investment. The German economy shrank by 0.4% in the fourth quarter of 2022 compared with the previous three months, the statistics …

German economy shrinks 0.4% in fourth quarter, weak start to 2023 seen Read More »

(Reuters) – The European Central Bank may still need to raise interest rates significantly beyond March as inflation, particularly underlying price growth, remains too high, Bundesbank President Joachim Nagel said on Friday. Although headline inflation is well below its peak, underlying price growth, a key indicator of the durability of inflation, rose to a record …

ECB could still need big rate hike beyond March, Nagel says Read More »

(Reuters) – European shares opened higher on Friday, boosted by upbeat earnings reports from French construction materials giant Saint-Gobain and Swedish radiation therapy equipment Elekta. The STOXX 600 index climbed 0.4% by 0811 GMT, keeping with a rise in Asian markets after the Bank of Japan ruling out an early end to super-easy monetary policy …

European shares climb on Saint-Gobain, Elekta boost Read More »

BENGALURU (Reuters) – The German government supports the United States’ nomination of Ajay Banga for president of the World Bank, German Finance Minister Christian Lindner said on Friday in the context of a G20 finance leaders meeting in the Indian city of Bengaluru. U.S. President Joe Biden nominated former Mastercard Inc CEO Ajay Banga to …

Germany supports U.S. pick to lead World Bank – German finance minister Read More »

By Olivier Sorgho (Reuters) -French car parts maker Valeo on Thursday forecast strong sales growth this year, as record 2022 orders helped by demand for car electrification and driving assistance technology helped it navigate a challenging year for the automotive sector. The group is targeting sales between 22 billion and 23 billion euros this year, …

Valeo sees more growth from car electrification and automation as orders hit record Read More »

By Chavi Mehta (Reuters) – As the artificial intelligence boom takes off, Nvidia Corp is expected to emerge as the biggest – though not the only – winner among chipmakers after years of focusing on the technology has made it a go-to supplier for tech firms. AI has emerged as a bright spot for investments …

Nvidia results show its growing lead in AI chip race Read More »

By Charlie Devereux MADRID (Reuters) -Iberia-owner International Airlines Group has agreed to pay 400 million euros ($423.84 million) to Spain’s Globalia for the remaining 80% of airline Air Europa it did not already own, the company said in a statement on Thursday. IAG, which also owns British Airways, said the deal will allow it to …

IAG agrees to buy 80% stake in Air Europa for 400 million euros Read More »

By Mathieu Rosemain and America Hernandez PARIS (Reuters) – Climate and human rights activists sued two of France’s biggest corporations over fossil fuel financing and alleged human rights abuses on Thursday, as campaigners increasingly turn to lawsuits to push big companies to change their behaviour. Oxfam, Friends of the Earth and Notre Affaire à Tous …

Activists sue BNP over energy loans, TotalEnergies over human rights Read More »

By Andrea Shalal, Valerie Volcovici and David Lawder WASHINGTON (Reuters) -U.S. President Joe Biden on Thursday nominated former MasterCard CEO Ajay Banga to become president of the World Bank, hailing his business experience in his native India and his commitment to mobilizing private funds to expand financial inclusion and help developing countries grapple with climate …

Biden nominates former MasterCard CEO Ajay Banga to head World Bank Read More »