Reuters UK Business

By Stephanie Kelly and Scott DiSavino NEW YORK (Reuters) -Energy company executives at a conference on the global transition to renewable energy insisted on Tuesday that fossil fuels, especially natural gas, are still needed at a time when global markets grapple with tight energy supplies and skyrocketing prices. Oil and gas supplies have tightened in …

Energy company execs say fossil fuels still important in energy transition Read More »

FRANKFURT (Reuters) -The European Central Bank will fight any “disorderly” blowout in the borrowing costs of more indebted euro zone nations, but its response should be tailored and there is no need to pre-announce a new tool, ECB board member Isabel Schnabel said on Tuesday. The ECB last week said it would not tolerate fragmentation …

No limits in ECB’s fight against fragmentation -Schnabel Read More »

MADRID (Reuters) – Moderna plans to invest around 500 million euros ($520.60 million) in a new laboratory in Spain to boost its production of vaccines, Spanish Prime Minister Pedro Sanchez said on Tuesday. Sanchez wrote on his Twitter account that he had a meeting with Moderna vice president, Dan Staner, and heard about the drugmaker’s …

Moderna to invest 500 million euros in Spain, PM Sanchez says Read More »

By Tim Hepher PARIS (Reuters) -Airbus is poised to stage the maiden flight of its A321XLR jetliner – a major milestone in the race to improve the range of narrowbody jets – but it is struggling to pin down key certification and delivery dates, industry sources said. Airbus says the A321XLR can fly 4,700 nautical …

Certification timetable up in the air on eve of Airbus jet debut Read More »

PARIS (Reuters) – France’s economy should avoid falling into recession during the current quarter after contracting in the first three months of the year, the central bank said on Tuesday. The euro zone’s second-biggest economy will grow around 0.25% in the three months to the end of June from the first quarter when it shrank …

French central bank sees second quarter growth of 0.25% Read More »

By Valentina Za MILAN (Reuters) – Monte dei Paschi di Siena has named veteran UniCredit executive Andrea Maffezzoni as its new chief financial officer as it prepares to present a new strategic plan next week, the state-controlled bank said on Tuesday. Maffezzoni joins another former UniCredit senior manager, Luigi Lovaglio, who in February took the …

Monte dei Paschi names veteran UniCredit executive as CFO Read More »

PARIS (Reuters) – The French government is closely monitoring developments around IT company Atos which it considers a strategic asset, a finance ministry official said on Tuesday, as shares in the IT company suffer heavy losses. The company, whose businesses include cybersecurity and next-generation computing, spooked investors on Tuesday with a plan to split its …

French state closely monitoring future of ‘strategic asset’ Atos -official Read More »

PARIS (Reuters) -European Central Bank policymaker Klaas Knot told French newspaper Le Monde in an interview published on Tuesday that the ECB’s options for a September interest rate hike were not limited to 50 basis points. “If conditions stay the same as they are today, we should increase the rate by more than 0.25 percentage …

ECB’s Knot: options for September are not limited to 50 basis points Read More »

By William Schomberg and David Milliken LONDON (Reuters) – Britain’s jobless rate rose for the first time since late 2020 and other measures of the country’s hot labour market cooled, potentially easing inflation worries at the Bank of England which is due to raise rates again this week. With surging inflation weighing on the economy’s …

UK jobs market loses some of its inflation heat Read More »

LONDON (Reuters) – Britain’s banks will have to provide more detailed analysis to justify closing a branch, cutting opening hours or changing a cash machine, the Financial Conduct Authority proposed on Tuesday. The FCA said it has warned that some banks and building societies are not currently doing enough to properly understand the impact of …

UK watchdog proposes tougher curbs on bank branch closures Read More »