Reuters UK Business

By Victoria Waldersee, Jan Schwartz and Tom Sims BERLIN (Reuters) – Porsche Chief Executive Oliver Blume will take over from Herbert Diess as CEO of Volkswagen, the carmaker said on Friday, after a supervisory board vote forced Diess to step down from his four-year tenure following a series of missteps over strategy and communication style. …

VW’s CEO Diess ousted after tumultuous tenure, Porsche’s Blume to succeed Read More »

(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) – A few dozen Russian retail investors handed in a letter to the country’s second-biggest bank VTB on Friday asking for compensation for losses made on their foreign investments after Western sanctions were imposed earlier this …

Russian retail investors ask VTB to compensate them for foreign losses Read More »

By Tassilo Hummel and Juliette Jabkhiro PARIS (Reuters) – French oil major TotalEnergies and shipping giant CMA CGM announced further measures to cut prices on Friday, following government pressure for companies to do more to help consumers cope with soaring inflation. TotalEnergies said it would reduce fuel prices at its service station across France from …

TotalEnergies, CMA CGM agree to cut prices to help French consumers Read More »

By Elizabeth Pineau PARIS (Reuters) -French President Emmanuel Macron’s government honoured on Friday a re-election promise to boost household purchasing power amid soaring inflation as the National Assembly passed a bill lifting pensions and temporarily freezing rent hikes. With the vote in the lower house, Macron passed a first test of his ability to strike …

French lawmakers back Macron’s promised inflation relief Read More »

BRUSSELS (Reuters) -Belgium has reached an initial accord with French utility group Engie to extend the use of nuclear power by 10 years after Russia’s invasion of Ukraine forced the government to rethink plans to rely more on natural gas. Engie’s subsidiary Electrabel and the Belgian state signed a “non-binding letter of intent” and aimed …

Belgium reaches initial deal with Engie to prolong nuclear power Read More »

By Noah Browning, Ron Bousso and Wendell Roelf BRUSSELS/LONDON/CAPE TOWN (Reuters) – Europe’s thirst for oil and gas to replace sanctioned Russian supply is reviving interest in African energy projects that were shunned due to costs and climate change concerns, industry executives and African officials said.     Energy firms are considering projects worth a total of …

Analysis: Ukraine war rekindles Europe’s demand for African oil and gas Read More »

AMSTERDAM (Reuters) – The war in Ukraine led to large increases in the amount of liquefied natural gas (LNG) and coal shipped through Rotterdam in the first half of 2022, the port said on Friday, with Russia’s share falling quickly in the second quarter. Overall throughput at Europe’s largest port was up less than 1% …

Rotterdam port says coal, LNG surged in H1, Russian imports fell Read More »