Reuters UK Business

ZURICH (Reuters) – The Swiss economy grew by 1.8% in the second quarter, the government said on Tuesday, boosted by income from the Paris Olympics and the European football championship as well as higher pharmaceuticals and chemical production. The annual increase beat Reuters forecasts for 1.4% as broadcast revenues from both sporting events almost doubled …

Swiss economic output boosted by Olympics, European football championships Read More »

By Foo Yun Chee BRUSSELS (Reuters) -U.S. gene sequencing company Illumina on Tuesday won its court fight against the European Union’s investigation of its $7.1 billion purchase of cancer diagnostic test maker Grail, a ruling set to curb Brussels’ merger powers. Illumina, which founded Grail and spun it off in 2016 only to re-acquire it …

Illumina wins Grail battle in blow to EU merger power Read More »

(Reuters) – British equipment rental company Ashtead Group kept its annual profit forecast on Tuesday after reporting a drop in quarterly earnings, reassuring investors as it also named a new finance chief to replace Michael Pratt, who is retiring next year. The company, which serves construction, emergency response and entertainment markets in Britain, Canada and …

Ashtead says profits on track as picks new finance chief Read More »

By Joan Faus and Corina Pons BARCELONA/SANTA CRUZ DE TENERIFE, Spain (Reuters) – Spanish authorities are encouraging the expansion of luxury hotels as they crack down on a surge in holiday rentals that has triggered anti-tourism protests in places like Barcelona or the Canary Islands. The hotel sector has faced local restrictions on expanding but …

Spain’s crackdown on holiday rentals bodes well for luxury hotels Read More »

PARIS (Reuters) – France is at risk of running a substantially bigger budget deficit than planned this year if extra savings are not found due to a shortfall in tax revenue, French media reported on Monday. The finance ministry sent lawmakers an update on Monday on the budget situation that they had been demanding for …

French finance ministry warns deficit at risk on tax shortfall-media Read More »

BERLIN (Reuters) -German automaker BMW is recalling electric Mini Cooper SE vehicles due to problems in their batteries, which could potentially affect more than 140,000 autos worldwide, a company spokesperson told Reuters on Monday. Around 39,000 vehicles could be affected in Germany, the company said in a statement on Monday, adding that there are no …

BMW worldwide recalling Mini Cooper SE electric models, company says Read More »

By Victoria Waldersee and Christina Amann BERLIN (Reuters) -Volkswagen is considering closing factories in Germany for the first time, in a move that shows the mounting price pressure Europe’s top carmaker faces from Asian rivals. Monday’s move marks the first major clash between Chief Executive Oliver Blume, who analysts have described as more of a …

Volkswagen considers historic German plant closures in cost drive Read More »