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BERLIN/FRANKFURT (Reuters) -Germany’s largest power producer RWE said on Tuesday it is bringing forward its coal phase-out by eight years and is ready to end lignite-based electricity generation in 2030 as part of a deal reached with the German government. However, faced with a Europe-wide energy crisis after Russia slashed gas deliveries following its invasion …

Germany’s biggest power producer RWE to phase out coal by 2030 Read More »

By Devik Jain (Reuters) -European shares rose sharply on Tuesday in a broad-based rally, led by chipmakers, travel and leisure companies, and some strong corporate updates, with investors eyeing producer price data due later in the day. The region-wide STOXX 600 index was up 2% by 0827 GMT, hitting its highest level since Sept. 23. …

European shares rally sharply ahead of producer price data Read More »

MADRID (Reuters) -The number of foreign tourists visiting Spain in August remained well below the 10.12 million who came in August 2019 before pandemic-related travel restrictions ravaged the industry, but their spending approached the levels of three years ago. Tourist numbers increased by 70% in August from the same month last year to 8.82 million, …

Foreign tourism to Spain jumps in August, remains below pre-pandemic level Read More »

MILAN (Reuters) -Ferrari said on Monday some internal documents had been posted online and the luxury sports carmaker was working to identify how this had happened. It will implement all the appropriate actions as needed, it said in an emailed statement. Ferrari added it had no evidence of a breach of its systems or ransomware, …

Ferrari says internal documents online, but no evidence of cyber attack Read More »

(Reuters) – The decision to scrap the 45% tax rate was a “tiny part of the plan and had become an unnecessary distraction,” British Prime Minister Liz Truss wrote in The Telegraph. The comments come after Truss was forced on Monday into a humiliating U-turn after less than a month in power, reversing a cut …

UK’s Truss says abolishing 45% tax rate had become an ‘unnecessary distraction’ -The Telegraph Read More »

By David Milliken LONDON (Reuters) – Bank of England policymaker Catherine Mann said her vote last month to raise Bank Rate by 0.75 percentage points reflected her concerns about a weak currency, rising inflation expectations and the boost to household incomes from an energy price cap. The BoE’s Monetary Policy Committee was split three ways …

BoE’s Mann says sterling, inflation, energy influenced her rate hike vote Read More »

By Krisztina Than and Gabriela Baczynska BUDAPEST/BRUSSELS (Reuters) -Hungary’s parliament passed the first of a series of anti-corruption bills on Monday as Budapest seeks to avoid a loss of European Union funds at a time when its economy is headed into recession and the forint has plunged to record lows. Prime Minister Viktor Orban’s ruling …

Hungary passes anti-graft law to avoid loss of EU funds Read More »

By Marianna Parraga HOUSTON (Reuters) – U.S. producers of liquefied natural gas (LNG) boosted exports to Europe in September even as a plant outage kept overall shipments below the average for the first eight months of 2022, Refinitiv Eikon data showed on Monday. A June fire at the United States’ second-largest exporter Freeport LNG has …

More U.S. LNG heads to Europe despite output constraints Read More »