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By Shariq Khan (Reuters) – Repsol SA has agreed to sell about 95,000 net acres (38,000 hectares) of oil and gas producing land in Alberta to Canada Pension Plan Investments Board-backed Teine Energy, three sources familiar with the plan told Reuters on Tuesday. The Spanish oil major will fetch up to C$400 million ($304.65 million) …

Exclusive-Repsol agrees to sell Alberta oil assets to CPPIB backed-Teine Energy -sources Read More »

STOCKHOLM (Reuters) – Crisis-hit Scandinavian airline SAS sees savings of $200 million through 2026 from a new collective bargaining deal reached with most of its pilots following a crippling two-week strike in July. The flag carrier, pressured for years by low-cost rivals and ravaged by the pandemic, in February announced a big restructuring plan, and …

SAS sees $200 million in savings through 2026 from pilot labour deal Read More »

By Alexander Marrow VLADIVOSTOK, Russia (Reuters) – Russia’s VTB Bank is interested in an asset swap with Russian subsidiaries of European lenders as it seeks to recover some 600 billion roubles ($9.86 billion) in frozen assets it has in the West, its Chief Executive Andrei Kostin said on Tuesday. Western countries and allies, including Japan, …

Russia’s VTB open to swaps as it seeks to reclaim $10 billion in frozen assets Read More »

MOSCOW (Reuters) – Russia’s second-largest lender VTB expects retail lending to rise by at least 50% in the second half of 2022 compared with the first six months of the year, its deputy chairman Anatoly Pechatnikov said on Tuesday. Lending activity in Russia is on the mend, having waned earlier this year when the central …

Russia’s VTB sees July-Dec retail lending rising at least 50% vs H1 Read More »

By Shreyashi Sanyal (Reuters) -European shares edged higher on Tuesday following a bleak start to the week on worries over a looming energy crisis and recession, while Credit Suisse Group rose after the Swiss bank agreed to sell its global trust business. The continent-wide STOXX 600 index ticked up 0.2% after a 0.6% loss in …

European shares find footing after rough start to week Read More »

LONDON (Reuters) – Incoming British prime Minster Liz Truss is planning a 40 billion pound ($46.22 billion) support package for businesses to help them cope with rising energy costs, Bloomberg News reported on Tuesday. The plan would involve discounting firms’ energy bills by fixing the wholesale price of gas and electricity, with the government making …

UK’s Truss plans $46 billion energy package for businesses – Bloomberg Read More »

FRANKFURT (Reuters) – German airline Lufthansa said it would make an improved offer to pilots on Tuesday in a bid to stop an escalation of a wage dispute after the union said it would go on strike again this week. The announcement by the Vereinigung Cockpit (VC) pilots’ union follows a strike last week that …

Lufthansa to make pilots new offer in wage dispute as union plans strike Read More »

By William Schomberg LONDON (Reuters) – British construction companies suffered a second straight month of contraction in the face of deep uncertainty about the outlook for the inflation-hit economy, a survey showed on Tuesday. The S&P Global/CIPS construction Purchasing Managers’ Index (PMI) came in at 49.2 in August, edging up from 48.9 in July but …

UK construction shrinks again as economy feels inflation heat-PMI Read More »

By Jake Cordell (Reuters) -Russia’s economy will post a shallower economic contraction than expected over the coming years and could return to growth on a quarterly basis from as early as the end of 2022, a top government official said on Tuesday. Economy Minister Maxim Reshetnikov said the government was now forecasting a 2.9% contraction …

Russia ups economic forecasts, says growth to return sooner than expected – economy minister Read More »