Reuters UK Business

(Reuters) – The European Central Bank will consider the economic situation before deciding whether to press ahead with another big interest rate hike in September, policymaker and fiscal hawk Robert Holzmann said on Sunday. The ECB was balancing its wish to tackle higher inflation with a worsening economic situation because of problems like the Ukraine …

European Central Bank will consider economic situation when deciding on rates -Holzmann Read More »

MOSCOW (Reuters) – Siemens Energy handed over Canadian documentation to Russian gas giant Gazprom on Sunday which would allow the transport of turbines for the Nord Stream 1 gas pipeline, Russia’s Kommersant newspaper reported. Nord Stream 1, which runs on the bed of the Baltic Sea from Russia to Germany, resumed pumping gas on Thursday …

Siemens Energy hands Gazprom documentation for transport of Nord Stream 1 turbine -media Read More »

By Elizabeth Piper and Mathieu Rosemain LONDON/PARIS (Reuters) -French satellite company Eutelsat is poised to buy British rival OneWeb in a deal that could be announced as early as Monday, two sources close to the negotiations said on Sunday. OneWeb was valued at $3.4 billion in its most recent funding round, one of the sources …

France’s Eutelsat close to deal for UK satellite operator OneWeb -sources Read More »

ZURICH (Reuters) – Credit Suisse is considering how it could cut costs further after a dismal performance by the embattled bank in the past quarter, SonntagsZeitung reported, citing senior sources. “The numbers are catastrophic,” an unnamed senior banker told the newspaper, adding that staff morale is very low. Managers and the board of directors are …

Credit Suisse eyes more cost cuts, SonntagsZeitung reports Read More »

By Joseph White (Reuters) – Herbert Diess took over at Volkswagen AG four years ago when the German automaker was in crisis, under pressure to make dramatic changes in strategy and culture, and the former BMW executive offered a new vision. Diess will leave Volkswagen on Sept. 1, three years before his contract was supposed …

Herbert Diess, Volkswagen’s disruptor-in-chief, runs out of road Read More »

By Ilona Wissenbach FRANKFURT (Reuters) – The appointment of Oliver Blume as the next boss of Volkswagen heralds a change in management style that is expected to replace the erratic and unpredictable attitude of his predecessor with a more team-based culture. A long-time Volkswagen executive who joined the carmaker in 1994, the 54-year-old Blume has …

Consensus-driven Blume to usher in new leadership era at Volkswagen Read More »