By Ron Bousso LONDON (Reuters) -Shell will combine its oil and gas production and liquefied natural gas (LNG) divisions as part of broader changes under new CEO Wael Sawan, which the company said could result in some job cuts. The new division, which combines Shell’s most profitable operations, will be headed by current upstream director …
Shell CEO’s first changes combine upstream and LNG operations Read More »
By Conor Humphries DUBLIN (Reuters) – Ryanair on Monday posted a record after-tax profit for its October-December quarter and said bookings for Easter and summer flights were “very robust”, boosted by demand from Asian travellers and a strong U.S. dollar. “Bookings are showing no signs of recession at this point in time,” Chief Financial Officer …
Ryanair posts record Christmas quarter, sees ‘very robust’ summer demand Read More »
BERLIN (Reuters) – The German economy unexpectedly fell in the fourth quarter, data showed on Monday, a sign that Europe’s largest economy may be entering a much-predicted recession as an effect of the Ukraine war. Gross domestic product decreased 0.2% quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll of …
(Reuters) -Barclays analysts on Monday upgraded Europe’s banking sector, as it sees benefits of higher interest rates and healthy financials, but downgraded the utilities sector. Analysts at the British investment bank, led by Emmanuel Cau, upgraded the European banking sector to “overweight” from “market weight” and downgraded the utilities sector to “underweight”. “Given the move …
Barclays turns bullish on European banks, downgrades utilities Read More »
(This Jan. 26 story has been updated to correct the name of the subsidiary to Ingka (not IKEA) Investments in paragraph 13.) By Anna Ringstrom and Marie Mannes STOCKHOLM (Reuters) – IKEA is using more wood from Sweden and the Baltics to make up for not sourcing it from Russia and Belarus which the company …
IKEA taps Baltics, others for more wood supplies after shunning Russia Read More »
BUDAPEST (Reuters) – Hungary’s January annual inflation is expected to rise above 25% but in February price growth will start slowing which could then allow the central bank to gradually start reducing its interest rates, the minister for economic development said on Sunday. Marton Nagy, a former central bank deputy governor, told state radio that …
Hungary cbank could start “cautious” rate cuts once CPI slows – minister Read More »
By Silvia Aloisi and Mimosa Spencer PARIS (Reuters) – French luxury goods group Kering has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. At Gucci, he will be tasked with reviving the fortunes of a brand that accounted for two-thirds of …
Gucci names De Sarno as creative director with task of reviving brand Read More »
By Mrinmay Dey and James Davey LONDON (Reuters) -British regional airline Flybe on Saturday ceased trading for the second time in three years, with all flights cancelled and 276 workers made redundant. A statement on Flybe’s website said the airline, which operated scheduled services from Belfast, Birmingham and Heathrow across the UK and to Amsterdam …
UK regional airline Flybe ceases trading, cancels all flights Read More »
By Sheila Dang (Reuters) – The stalling of a Twitter program that was critical for outside researchers studying disinformation campaigns throws into question the company’s strategy to comply with upcoming regulation in Europe, former employees and experts told Reuters. The European Union’s new Digital Services Act (DSA), one of the world’s strictest regulations on internet …
Twitter research group stall complicates compliance with new EU law Read More »
THE HAGUE (Reuters) – ASML Holding NV said on Saturday it understood progress had been made towards an agreement among several governments on new restrictions on semiconductor manufacturing equipment exports to China. ASML, a key supplier to chipmakers, has been restricted from selling its most advanced tools to China since 2019. Tensions between the United …
ASML: Steps made towards deal on curbing exports to China Read More »
