By Riham Alkousaa BERLIN (Reuters) – As rising energy prices and a new gas levy in Germany are expected to triple fuel bills for consumers from autumn, pressure is mounting on the government to introduce a windfall tax on energy firms to fund further relief measures. Italy and the United Kingdom have implemented similar taxes, …
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CERNOBBIO, Italy (Reuters) -The European Union expects Russia to respect existing energy contracts but is prepared to meet the challenge if it fails to do so, Economic Commissioner Paolo Gentiloni said on Saturday. Asked about the halt to the Nord Stream 1 gas pipeline, Gentiloni told reporters: “We are not afraid of (President Vladimir) Putin’s …
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By Victoria Waldersee BERLIN (Reuters) -Volkswagen’s management and supervisory boards will meet on Monday to discuss whether the long-anticipated listing of sports car brand Porsche should go ahead in late September or early October, the carmaker said on Saturday. A decision will also be made on whether Volkswagen approves of the sale of 25% plus …
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By Christoph Steitz and Caleb Davis FRANKFURT/GDANSK (Reuters) – Russia has scrapped a Saturday deadline to resume flows via a major gas supply route to Germany, deepening Europe’s difficulties in securing winter fuel, after saying it had found faults in the Nord Stream 1 pipeline during maintenance. Nord Stream 1, which runs under the Baltic …
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By Echo Wang and Manya Saini (Reuters) -Yogurt maker Chobani is withdrawing its plans for an initial public offering in the United States after having delayed its listing plans earlier this year, marking the first high-profile casualty of the current slowdown in stock market flotations. Chobani cited “current market conditions” in its decision to scrap …
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By Richa Naidu LONDON (Reuters) -Laxman Narasimhan may have no experience of running coffee shops, but the outgoing CEO of British packaged goods group Reckitt will bring insight into the changing habits of consumers when he takes over at Starbucks. At Reckitt, maker of Strepsils throat lozenges and Dettol floor cleaner, the 55-year-old Narasimhan spearheaded …
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WASHINGTON (Reuters) -Moscow is using energy as a tool to pressure Europe, the White House said about the delayed return of Gazprom’s Nord Stream 1 natural gas pipeline, as Europe gets closer to a ban on oil imports from Russia. “It is unfortunately not surprising that Russia continues to use energy as a weapon against …
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(Reuters) – Russia said on Friday it found leaks during maintenance on the Nord Stream 1 pipeline that supplies natural gas to Europe and will keep it shut for an undisclosed period. Flows will not resume until all faults are rectified, Russia said in a statement, a worrisome development for Germany and other countries, hoping …
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(Reuters) -Swiss bank UBS and Wealthfront said on Friday they have mutually agreed to terminate their $1.4 billion deal, as part of which the automated wealth management provider was to be acquired by UBS Americas Inc. The deal, first announced earlier this year, was expected to fast-track UBS’s growth in the U.S. market. Several large …
By Supantha Mukherjee and Elvira Pollina STOCKHOLM/MILAN (Reuters) – Hacking group BlackCat was behind a recent attack on Italy’s state-owned energy services firm GSE, stole a massive amount of data and threatened to publish if their demands were not met, according to security researchers and documents seen by Reuters. In a ransomware attack, hackers steal …
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