MILAN (Reuters) – Truckmaker Iveco Group said on Monday it planned to restart bus production in Italy after more than a decade, taking advantage of funds from the EU-funded Recovery Plan to develop a fleet of low emission public transport vehicles. The group, which separated at the beginning of this year from former parent CNH …
By Sruthi Shankar (Reuters) -European stocks rose strongly on Monday after a sharp selloff last week on recession worries, while gains in French shares were capped after President Emmanuel Macron lost an absolute majority in the country’s parliamentary election. The pan-European STOXX 600 index closed up 1.0%, with battered banking, travel and energy stocks leading …
Banks, energy stocks fuel rebound in European shares Read More »
By Anisha Sircar (Reuters) -London’s FTSE 100 rose on Monday, boosted by gains in financial and energy stocks, after the blue-chip index posted its third straight weekly drop on sluggish economic growth worries. The blue-chip FTSE 100 index rose 1.5% with banks and oil majors BP and Shell 3.3% each leading gains.[O/R] Meanwhile, the domestically …
London’s FTSE 100 rises on boost from financial, energy stocks Read More »
AMSTERDAM (Reuters) – Privately-held IT services company Sitel Group SA has reached a preliminary agreement to buy Luxembourg’s Majorel SA in a cash and shares deal that would include a 440 million euro ($463 million) cash payout to Majorel shareholders. The companies, both of which operate call centres and related services, said in a joint …
Sitel Group strikes deal to buy Luxembourg’s Majorel, shares up 16% Read More »
(Reuters) – European food delivery companies will be forced to slash their forecasts in the second half of the year as record-high inflation and rising borrowing costs take a toll on consumers, analysts at J.P. Morgan said on Monday. The brokerage said food delivery has so far not been “stress tested” in a recession, but …
European food delivery firms face forecast cuts as inflation surges, says J.P. Morgan Read More »
BERLIN/ZURICH (Reuters) – ABB has further delayed the planned flotation of its electric vehicle charging business, the Swiss engineering and technology company said on Monday, citing the turbulence unsettling stock markets. ABB had pushed back the proposed IPO of the E-mobility business earlier this month, although it had planned to launch the process in the …
ABB blames “challenging” market for delaying e-charging IPO again Read More »
By Valentina Za MILAN (Reuters) – A plunge in shares in Italian banks, sparked by rising government bond yields, has reawakened memories of the 2011-12 debt crisis and rekindled concerns over lenders’ vulnerability to sovereign risks. The sovereign-bank link, which became a “doom loop” of mutually reinforcing risks a decade ago, compounds problems for Italian …
Analysis-Italian banks’ government debt risks: real or just deja-vu? Read More »
LONDON (Reuters) – The pound edged higher on Monday, breaking a three-week losing streak versus the broadly struggling U.S. dollar as hawkish comments from policymakers supported the currency. While the Bank of England raised interest rates by just a quarter point last week – lagging more robust action from the U.S. Federal Reserve and other …
Sterling gains, on track to snap 3-week losing streak Read More »
LISBON (Reuters) – The European Central Bank is very determined and committed to act against the risk of fragmentation and is designing instruments as a deterrent to pressure on debt spreads, governing council member Mario Centeno said on Monday. Speaking at a financial event hosted by CNN Portugal, Centeno said such tools would only be …
ECB committed to act on fragmentation risks, Centeno says Read More »
By Richa Naidu LONDON (Reuters) -French food giant Danone is cutting the variety of products it sells to retailers to reduce costs, a top executive told Reuters, meaning yoghurt fans may in future miss out on the exact flavour or pot-size they’re used to. Supermarkets and the makers of packaged food are struggling to combat …
Danone trims product range as shoppers balk at high prices Read More »
