BERLIN (Reuters) -Mercedes-Benz is set to drop the EQ product brand for battery-electric cars as soon as the next generation of compact cars, set to be on the market from the end of 2024, German daily Handelsblatt said on Thursday, citing company sources. The decision is based on Chief Executive Ola Kaellenius’ focus on electric-only …
By Anshuman Daga SINGAPORE (Reuters) -Standard Chartered is considering a sale, among several options, of its aviation unit, which according to an industry publication owns a fleet worth around $3.7 billion. The UK-headquartered bank said on Wednesday the aircraft leasing business represented around 2% of its group income. The unit, based in Ireland, owns and …
StanChart eyes sale of $3.7 billion aircraft leasing unit Read More »
DUBLIN (Reuters) – Kerry Group has agreed to sell its sweet ingredients portfolio to private equity major Advent International for 500 million euros ($538 million), the Irish company said on Wednesday. Kerry, whose ingredients reach more than a billion people around the world, said the sale would help to refine its core taste and nutrition …
Kerry sells sweet ingredients portfolio to Advent for 500 million euros Read More »
By Andres Gonzalez LONDON (Reuters) – Asset managers Amundi and Reichmuth will co-invest up to 265 million euros in a new vehicle by Spain’s Alantra, which aims to raise a total of 1.7 billion euros to invest in solar photovoltaic farms, the three companies said in a statement. The platform, in which financial services firm …
Amundi to co-invest in Alantra’s 1.7 billion euro solar platform Read More »
By Foo Yun Chee BRUSSELS (Reuters) – U.S. life sciences company Illumina is likely to face a fine of 10% of its global annual turnover, the maximum penalty, for closing its takeover of Grail without waiting for EU antitrust approval, people familiar with the matter said. Last month Illumina defended its case before senior European …
Exclusive-Illumina to face EU fine of 10% of turnover over Grail deal -sources Read More »
By Jesús Aguado MADRID (Reuters) -The European Central Bank expects to continue raising interest rates “significantly” at future meetings, at a sustained pace, to ensure that inflation returns to the 2% target over the medium term, ECB policymaker Pablo Hernandez de Cos said on Wednesday. “Keeping interest rates at tight levels will reduce inflation by …
ECB will keep raising rates ‘significantly’ at sustained pace, De Cos says Read More »
LONDON (Reuters) – Global banks are in the process of cutting at least 5,000 jobs as profits at lucrative investment banking units come under pressure from volatility in capital markets and fast-rising interest rates, according to a Reuters tally of reported cuts. Rapidly deteriorating economic conditions have also prompted lenders to build rainy-day funds to …
Factbox-Global banks cut jobs as cost pressures mount Read More »
By Bansari Mayur Kamdar and Shreyashi Sanyal (Reuters) -European shares advanced on Wednesday, buoyed by hopes of less aggressive interest rate hikes, while insurer Direct Line fell sharply after scrapping its full-year dividend. The pan-regional STOXX 600 climbed 0.4%, with market participants awaiting U.S. inflation data on Thursday for clues on the Federal Reserve’s interest …
European shares rise on bets of easing rate hikes; Direct Line plunges Read More »
By Shashwat Chauhan and Johann M Cherian (Reuters) – UK’s exporter-heavy FTSE 100 closed higher on Wednesday, buoyed by gains in commodity-linked stocks, while insurer Direct Line plunged to the bottom of the mid-cap index after cancelling its final dividend for 2022. The blue-chip FTSE 100 advanced 0.4%, its highest since August 2018, while the …
FTSE 100 surges to over 4-year high; insurance stocks tumble Read More »
By Nick Carey LONDON (Reuters) – Self-driving software startup Oxbotica has raised $140 million from investors to speed deployment of autonomous vehicles (AVs) in areas including heavy industry, ports and airports. The Series C round includes funding from new investors including Japanese insurer Aioi Nissay Dowa Insurance and the venture capital arm of Japanese oil …
Oxbotica raises $140 million to deploy self-driving commercial vehicles Read More »
