Reuters UK Business

LONDON (Reuters) – Euro zone business activity declined for a fifth month in November, suggesting the economy was sliding into a mild recession as consumers cut spending amid surging inflation, a survey showed. S&P Global’s final composite Purchasing Managers’ Index (PMI) for the euro zone, seen as a good guide to economic health, nudged up …

Euro zone likely heading into mild recession-PMI Read More »

PARIS (Reuters) -French Finance Minister Bruno Le Maire said on Monday he has started talks with his counterparts to see if EU-made “green products” sold in the United States would benefit from the country’s new Inflation Reduction Act (IRA). He said he had already begun the follow-up work with U.S. Treasury Secretary Janet Yellen after …

France’s Le Maire starts talks on green subsidies for EU products under IRA law Read More »

TOKYO (Reuters) – Komatsu Ltd, the world’s second-largest construction machinery maker after Caterpillar Inc, has no immediate plan to withdraw from its Russian operations, it said on Monday, but did not rule out exiting the country in the future. Following Russia’s invasion of Ukraine in February, Komatsu, which also competes with Sany Heavy Industry and …

Komatsu CEO: no immediate plan to withdraw from Russia Read More »

BERLIN (Reuters) – Volkswagen Chief Executive Oliver Blume will present a long-delayed new software strategy for the carmaker at a supervisory board meeting on Dec. 15, Handelsblatt newspaper reported on Monday, citing company sources. The strategy will lay out how Blume aims to make the carmaker’s proprietary software competitive and market-ready by the end of …

Volkswagen to discuss new software roadmap on Dec. 15 -Handelsblatt Read More »

FRANKFURT (Reuters) – Commodities trading firm Trafigura on Monday said it has entered into a $3 billion four-year loan to supply gas to German gas trader Sefe, formerly known as Gazprom Germania, and help Europe’s largest economy secure volumes long-term. “We are proud to be contributing to Europe’s energy security by supplying this significant volume …

Trafigura enters $3 billion loan to supply Germany’s Sefe with gas Read More »

By Jan Strupczewski BRUSSELS (Reuters) – The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow’s ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production. The price …

G7 price cap on Russian oil kicks in, Russia will only sell at market price Read More »

MOSCOW (Reuters) – Russian electric scooter firm Whoosh said on Monday it’s eyeing a possible $400 million valuation in its upcoming initial public offering (IPO), the first Russian market debut since Moscow sent tens of thousands of troops into Ukraine in February. The company said in a statement it expects up to 5 billion roubles …

Russia’s Whoosh eyes $400 million valuation in upcoming IPO Read More »

By David Milliken LONDON (Reuters) – Britain’s economy is on course to shrink 0.4% next year as inflation remains high and companies put investment on hold, with gloomy implications for longer-term growth, the Confederation of Business Industry forecast on Monday. “Britain is in stagflation – with rocketing inflation, negative growth, falling productivity and business investment. …

UK economy to shrink in 2023, risks ‘lost decade’: CBI Read More »