By Sachin Ravikumar LONDON (Reuters) – Airlines operating at British airports will have to use 80% of their take-off and landing slots in order to keep them, the government said on Tuesday, as it brings the industry back in line with pre-pandemic rules. The so-called “use it or lose it” 80:20 rule, which was waived …
Airlines must ‘use or lose’ UK airport slots in return to pre-COVID rules Read More »
LONDON (Reuters) – The British public’s predictions for inflation cooled again in January, according to a survey on Tuesday that should further comfort the Bank of England that high prices will not become permanently embedded in expectations. U.S. bank Citi and polling firm YouGov said inflation expectations for five to 10 years ahead fell to …
UK public inflation expectations cool again: Citi/YouGov survey Read More »
By Mimosa Spencer PARIS (Reuters) -Sabato De Sarno, newly appointed by Kering to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say – a delicate task, given the emphasis executives have also put on the label’s timeless appeal. De Sarno, a senior fashion designer from Valentino, is tasked as …
Gucci’s challenge: reigniting heat while boosting timeless appeal Read More »
MOSCOW (Reuters) – The Russian government on Monday banned domestic oil exporters and customs bodies from adhering to Western-imposed price caps on Russian crude. The measure was issued to help enforce President Vladimir Putin’s decree of Dec. 27 that prohibited the supply of crude oil and oil products from Feb. 1, for five months, to …
Russia bans oil exporters from adhering to Western price caps Read More »
By Bart H. Meijer AMSTERDAM (Reuters) -Dutch health technology company Philips will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its products following a recall of respiratory devices that knocked off 70% of its market value. Half of the job cuts will be made this year, …
Philips to cut 13% of jobs in safety and profitability drive Read More »
By Jan Strupczewski BRUSSELS (Reuters) – The European Commission will not propose any new joint EU borrowing on Wednesday when it presents ideas on how to support Europe’s green industry facing Chinese and U.S. competition, a draft of its “Green Deal Industrial Plan” showed on Monday. Instead, the draft seen by Reuters offers to re-purpose …
EU won’t borrow more to counter U.S. green subsides -draft document Read More »
By Richa Naidu LONDON (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as chief executive from July in a move that was welcomed by investors including board member and activist shareholder Nelson Peltz. Schumacher, 51, rejoined Unilever in October last year as non-executive director and is currently the chief of Dutch …
Unilever names former Heinz exec Schumacher as CEO Read More »
By Ron Bousso LONDON (Reuters) – Russia’s war in Ukraine is expected to weigh on long-term energy demand and accelerate the world’s shift to renewables and low-carbon power as countries boost domestic energy supplies, BP said in a report on Monday. In its benchmark 2023 Energy Outlook, BP Plc said the Ukraine war will slow …
Ukraine war to accelerate shift to clean energy, BP says Read More »
By Richa Naidu LONDON (Reuters) – Incoming Unilever CEO Hein Schumacher gets seasick, according to his former boss at food group Heinz, but that never stopped him joining executive sailing trips and sticking them out. “Every year, I’d bring nine of our most promising executives to Florida – just me and them, not their bosses. …
Unilever turns to former Heinz exec to steer new course Read More »
By Sarah Marsh SANTIAGO (Reuters) -German Chancellor Olaf Scholz lobbied this week for South America to prioritize cooperating with Germany in its commodities sector as Berlin joins the race for critical minerals, with lithium key for its auto industry. Europe’s largest economy has fallen behind in the race for critical minerals, in part due to …
Scholz seeks to secure more critical minerals on South America tour Read More »
