Reuters UK Business

By Foo Yun Chee LUXEMBOURG (Reuters) – Antitrust authorities may assess whether companies comply with EU data protection rules during their investigations, an adviser to Europe’s top court said on Tuesday, dealing a possible blow to Meta Platforms in its fight against the German competition agency. The non-binding opinion, if followed by the Court of …

Meta’s privacy obligations may be added to German antitrust probe, court adviser says Read More »

By Foo Yun Chee LUXEMBOURG (Reuters) – EU governments cannot hold indiscriminately personal data unless there is a serious threat to national security, Europe’s top court said on Tuesday, dealing a setback to EU countries banking on mass data retention laws to combat crime and safeguard national security. The ruling by the Court of Justice …

Indiscriminate data retention is illegal, EU top court says Read More »

By Victoria Klesty OSLO (Reuters) – Norway’s $1.2 trillion wealth fund, the world’s largest, said on Tuesday it would decarbonise its holdings by pushing firms to cut their greenhouse gas emissions to net zero by 2050 in line with the Paris Agreement. The fund invests the revenue from Western Europe’s biggest oil and gas producer …

Norway’s wealth fund tells firms to set net zero emission goals Read More »

ZURICH (Reuters) -UBS Group is seeing positive flows of client funds this quarter, the co-head of the Swiss bank’s wealth management business said on Tuesday. The first quarter had been pretty strong and it viewed the slowdown in the second quarter as an “anomaly”, Iqbal Khan told the BofA Global Research financials conference. “As of …

UBS seeing positive client flows this quarter – Khan Read More »

TURIN, Italy (Reuters) – Stellantis signed an agreement with its partner Punch Powertrain to increase production in Italy of electrified dual-clutch transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles, the carmaker said on Tuesday. The upgraded facility will be developed within Mirafiori, Stellantis’ main plant in Turin, northern Italy, and it will complement the …

Stellantis invests in Italian plant as part of switch to electric Read More »

By Sudarshan Varadhan, Helen Reid, Nuzulack Dausen, Jonathan Saul and Nina Chestney DAR ES SALAAM (Reuters) – The sleepy Tanzanian port of Mtwara mainly dealt in cashew nuts until late last year. Now it bustles with vessels loading up with coal, as Russia’s invasion of Ukraine drives a worldwide race for the polluting fuel. Tanzania …

Coal rush! Energy crisis fires global hunt for polluting fuel Read More »

(Reuters) – Fuller, Smith & Turner on Tuesday forecast full-year expenses for gas and electricity would more than double as the global energy crisis shows no sign of abating. British pub operators have been struggling with surging prices of everything from fuel to food ingredients, while record-high UK temperatures keep consumers at home. “Despite having …

Pub group Fuller’s expects energy costs to more than double Read More »

By Shreyashi Sanyal (Reuters) -European shares edged higher on Tuesday, boosted by banks, while expectations of another large interest rate hike by the U.S. Federal Reserve kept risk-taking bets in check. The pan-European STOXX 600 index added 0.1%, after a soft start to the week, with banks climbing 1.6% by 0759 GMT as lenders tend …

Banks keep European shares afloat Read More »

BERLIN (Reuters) -The books for Volkswagen’s hotly anticipated initial public offering of Porsche AG are covered multiple times on the full size of the deal, a bookrunner involved in the listing said on Tuesday. Indicated demand for the listing, due to take place on Sept. 29 at the Frankfurt Stock Exchange, exceeds the full deal …

Demand for Porsche AG listing strong as retail investor subscription period begins Read More »