Reuters UK Business

Mercedes to double electric motor output at Untertuerkheim – WiWo

6 Dec 2022

BERLIN (Reuters) – Mercedes-Benz is to double production capacity for electric motors to 1 million units at its Untertuerkheim plant, which has traditionally focused on combustion engines, WirtschaftsWoche magazine reported on Tuesday. The German carmaker’s management and works council struck an agreement on restructuring the site in southwestern Germany, which also foresees a 20% reduction …

Mercedes to double electric motor output at Untertuerkheim – WiWo Read More »

Credit Agricole pledges not to finance new oil extraction projects

6 Dec 2022

PARIS (Reuters) – Credit Agricole, France’s biggest retail bank, has launched a new business line to focus on climate-related targets, it said on Tuesday, while pledging not to finance new oil extraction projects by 2025. The lender said it would reduce by 25% its exposure to oil exploration and production by 2025 compared with 2020, …

Credit Agricole pledges not to finance new oil extraction projects Read More »

UK’s Paragon Banking posts over 16% jump in profit on strong lending

6 Dec 2022

(Reuters) – British lender Paragon Banking on Tuesday posted a 16.4% rise in annual profit, helped by strong loan book growth and rise in net interest margins. Operating profit came in at 226 million pounds ($275.4 million) for the year ended Sept. 30, up from 194.2 million pounds last year. ($1 = 0.8207 pounds) (Reporting …

UK’s Paragon Banking posts over 16% jump in profit on strong lending Read More »

UK pub group Marston’s returns to annual profit; flags cost pressures

6 Dec 2022

(Reuters) – UK’s Marston’s Plc on Tuesday returned to annual profit, as people thronged bars and taverns after months of strict COVID curbs ended but the pub operator flagged rising costs were squeezing its margins. Marston’s last week said Christmas bookings so far had topped pre-pandemic levels and so have sales since October, as it …

UK pub group Marston’s returns to annual profit; flags cost pressures Read More »

UK insurer Phoenix sets $1.8 billion 2025 new business cash target

6 Dec 2022

LONDON (Reuters) – British life insurer Phoenix set its first incremental new business long-term cash generation target at around 1.5 billion pounds ($1.83 billion) by 2025 on Tuesday, following strong performance for 2022. Phoenix, which specialises in managing books of life insurance business which are closed to new customers, remains on track to deliver 2022 …

UK insurer Phoenix sets $1.8 billion 2025 new business cash target Read More »

Britain’s Currys to avoid using Royal Mail ‘for now’ over strikes

6 Dec 2022

LONDON (Reuters) – British electricals retailer Currys will not use Royal Mail as a delivery provider “for now” to reduce any impact from strike action, the company’s chief executive officer Alex Baldock said on Sunday. Speaking to the BBC’s Sunday with Laura Kuenssberg show, Baldock confirmed a report by the Telegraph newspaper that his company …

Britain’s Currys to avoid using Royal Mail ‘for now’ over strikes Read More »

Porsche will join Germany’s blue-chip index – Deutsche Boerse

5 Dec 2022

BERLIN (Reuters) – German sportscar maker Porsche AG will join the blue-chip index, just over two months after its market debut, exchange operator Deutsche Boerse said on Monday. Porsche AG will replace sportswear maker Puma on the DAX stock index on Dec. 19, it said. (Reporting by Sarah Marsh; Editing by Mark Porter)

Hertz to pay $168 million to settle over 95% of wrongful theft report claims

5 Dec 2022

(Reuters) – Hertz Global Holdings Inc said on Monday it will pay about $168 million by year-end to resolve over 95% of pending claims from owners who alleged the car rental giant filed wrongful theft reports. Some customers had sued Hertz alleging the police detained or arrested individuals in error after the company reported rental …

Hertz to pay $168 million to settle over 95% of wrongful theft report claims Read More »

Tax credits for EU electric vehicles to dominate U.S. trade talks

5 Dec 2022

By Andrea Shalal and David Lawder COLLEGE PARK, Md. (Reuters) -The European Union’s top trade official on Monday called for urgent steps before the end of the year to modify a U.S. climate law that would cut off the bloc’s electric vehicles from U.S. tax credits, calling the measure discriminatory. This year’s $430-billion Inflation Reduction …

Tax credits for EU electric vehicles to dominate U.S. trade talks Read More »

Close Bitnami banner
Bitnami