LONDON (Reuters) -British finance minister Rachel Reeves said on Wednesday the government was taking targeted action against companies in India and China that continued to facilitate the flow of Russian oil into global markets. Britain issued fresh sanctions earlier on Wednesday against Russia’s so-called shadow fleet. (Reporting by Muvija M, writing by Sam Tabahriti; editing …
BELGRADE (Reuters) -The European Union has invited Serbia to join the bloc’s communal gas-buying initiative, EU Commission head Ursula von der Leyen said on Wednesday, as it seeks to reduce the Balkan country’s reliance on fossil fuels from Russia. The EU launched a joint gas-buying platform in 2023 to give participants more leverage to achieve …
EU invites Serbia to join collective gas-buying plan to reduce reliance on Russia Read More »
(Reuters) -Dutch lender ABN Amro warned of pressure on margins at its mortgage and wealth management businesses in an update on Wednesday ahead of its third quarter earnings. The bank also said that changes to its system for assessing mortgage risk would have a negative impact on its mortgage business. Mortgage margins were under pressure …
ABN Amro warns mortgage, wealth management margins under pressure Read More »
(Reuters) -PageGroup’s third-quarter profit beat market expectations on Wednesday as the British recruiter cited continued growth in the United States and Asia, sending shares 8% higher. PageGroup, which focuses on hiring white collar roles, posted gross profit that was slightly above analyst estimates and noted a second consecutive quarter of growth in Asia and 10% …
PageGroup profits beat forecasts as US and Asia drive growth Read More »
By Andreas Rinke and Tom Sims BERLIN (Reuters) -German Chancellor Friedrich Merz will push for deregulation in Europe’s banking sector, four people familiar with his thinking said, his latest effort to spur growth in the continent’s largest economy. Germany’s financial industry has for years complained about the burden of regulation and a resulting loss in …
Germany’s Merz aims to slash red tape on banks to boost economy, sources say Read More »
By Terje Solsvik and Nora Buli OSLO (Reuters) -Norway plans to eliminate its main subsidy for electric vehicles over the next two years, the government said on Wednesday, adding thousands of dollars to the cost of new cars like Tesla’s Model Y, the country’s top-selling automobile. Fully electric vehicles accounted for a record 98.3% of …
Norway proposes widening EV tax to include mass-market Tesla models Read More »
LONDON (Reuters) -The pound firmed against a broadly weaker dollar on Wednesday, as Britain’s finance minister Rachel Reeves confirmed tax rises and spending cuts are on the horizon, and market focus stays on the Bank of England’s rate path. The pound was up 0.2% against the dollar at $1.3349 and 0.1% firmer versus the euro …
Sterling strengthens against weaker dollar, Reeves’ budget plans in focus Read More »
LONDON (Reuters) -Credit Suisse on Wednesday lost its $440 million London lawsuit against Japan’s SoftBank Group Corp over losses linked to collapsed finance firm Greensill Capital. Greensill’s collapse made Credit Suisse close $10 billion of funds linked to the financial firm and, along with other scandals, led to the 2023 state-backed rescue of the 167-year-old …
Credit Suisse loses $440 million UK lawsuit against SoftBank over Greensill losses Read More »
By Maria Martinez BERLIN (Reuters) -Germany’s cabinet agreed on a draft law on Wednesday to encourage work after retirement by allowing those who do so to earn up to 2,000 euros a month tax-free in an effort to combat labour shortages in Europe’s biggest economy. The change is to take effect at the beginning of …
German cabinet agrees on law to incentivise post-retirement work Read More »
(Reuters) -The production of electronics for aviation is a bright spot in the aerospace supply chain, whereas manufacturing of some parts still remains challenging, a senior executive at supplier Honeywell told Reuters. While accessing some products like castings and forgings used for engine manufacturing remains difficult, Honeywell and other large aerospace suppliers in recent months …
Honeywell sees aerospace supply chain improvements in electronics for planes Read More »
