LONDON (Reuters) – British manufacturing lost more momentum in June than first estimated as new orders contracted at the fastest rate in two years, according to a survey that adds to signs of a stalling economy. The S&P Global UK manufacturing purchasing managers’ index fell (PMI) to 52.8 from 54.6 in May, downwardly revised from …
LONDON (Reuters) – Euro zone manufacturing production fell last month for the first time since the initial wave of the coronavirus pandemic two years ago as higher prices and a darkening economic outlook kept consumers wary of making purchases, a survey showed. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to 52.1 in June …
Euro zone factory production falls in June for first time in two years -PMI Read More »
PARIS (Reuters) – Air France is negotiating further job cuts with trade unions, Le Figaro reported on Thursday, having already culled thousands of positions through voluntary departures over the past two years. France’s flagship carrier is in talks to shed nearly 300 ground-staff positions through voluntary redundancies at French airports serving domestic flights, including Paris …
MADRID (Reuters) – Spanish engineering and energy group Abengoa SA has begun insolvency proceedings for its main unit, the company said on Thursday in a filing to the stock market supervisor. The measure follows rejection by the Spanish government on Tuesday of a request for 249 million euros ($261.2 million) in state aid for the …
Spain’s Abengoa asks to start insolvency proceedings for main unit Read More »
By Ron Bousso LONDON (Reuters) – Shell said on Thursday it had suspended plans to sell its onshore oil assets in Nigeria, complying with a Supreme Court ruling that said it had to wait for the outcome of an appeal over a 2019 oil spill. “Shell welcomes the Nigerian Supreme Court’s decision to hear the …
Shell pauses sale of Nigerian onshore oil assets Read More »
BRUSSELS (Reuters) – EU countries and EU lawmakers on Thursday agreed on rules to curb acquisitions or bids for public contracts by subsidised foreign companies in a bid to ensure a level playing field, the European Parliament said. The European Commission presented its proposals for the new takeover rules last year in a bid to …
EU countries, lawmakers agree on rules to curb subsidised foreign companies Read More »
FRANKFURT (Reuters) – The credit rating agency Moody’s on Thursday downgraded Commerzbank by a notch and said the outlook was stable. Moody’s said Commerzbank’s credit profile was “solidly positioned” but it cut the rating to A2 from A1 on technical grounds. “The rating step has nothing to do with the fundamental development of the bank,” …
Moody’s downgrades Germany’s Commerzbank but outlook is stable Read More »
By Steve Scherer OTTAWA (Reuters) -Canada’s East Coast has only enough natural gas supply to accommodate one new liquefied natural gas (LNG) export facility, and the project that would boost shipments to Europe the fastest is Repsol’s, Canada’s environment minister told Reuters. In May, Canada said it was in talks with Spanish company Repsol’s LNG …
Exclusive-Canada sees Repsol LNG as fastest way to boost gas supply to Europe Read More »
FRANKFURT (Reuters) -Siemens said on Thursday it was booking a writedown that will result in a 2.8 billion euro ($2.93 billion) impact on the German engineering company’s third quarter net income. The impairment is related to the fall in the value of Siemens Energy, which is 35% by Siemens AG after the spin off in …
Siemens writedown for Siemens Energy to hit Q3 net profit by 2.8 billion euros Read More »
By Giuseppe Fonte, Angelo Amante and Gavin Jones ROME (Reuters) -Italy’s government said on Thursday it was lending state-owned firm Gestore dei Servizi Energetici (GSE) 4 billion euros ($4.17 billion) to buy gas to boost stockpiles, as the country strives to cope with a fall in Russian supplies and surging prices. The rise on European …
Italian government lends 4 billion euros to boost gas storage Read More »
