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MADRID (Reuters) – Spanish construction firm Sacyr said on Monday it sold its entire stake in Repsol as well as options it held on shares of the Spanish oil company for an unspecified amount. Sacyr, which teamed up with state-owned oil company PEMEX more than a decade ago in a bid to control Repsol, sold …

Sacyr sells full stake in Repsol and options on Repsol shares Read More »

PRAGUE (Reuters) -The Czech National Bank might be forced to raise interest rates by more than its current course suggests if a dovish majority is created on its board, board member Tomas Holub said. There are three appointments to be made on the seven-seat board by the end of June, which might sway the majority …

Czech central banker flags potential stronger rate tightening -paper Read More »

(Reuters) – New car registrations in Britain tumbled nearly 21% last month, the second weakest May in three decades after lockdown-hit 2020, as persisting supply challenges hampered sales and deliveries despite robust demand, industry data showed on Monday. The Society of Motor Manufacturers and Traders (SMMT) said new car sales in the UK fell to …

UK new car sales see second weakest May in 30 years Read More »

By Susan Mathew (Reuters) – European shares rose strongly on Monday, helped by banks and commodity-linked stocks, while investors kept an eye out for U.S. inflation data and details from a European Central Bank meeting later this week. The pan-European STOXX 600 index rose 0.8% after ending 0.9% lower last week on concerns about economic …

Banks, commodity stocks lift European shares as markets await ECB meet Read More »

By Anisha Sircar (Reuters) – London’s FTSE 100 rose more than 1% on Monday, boosted by miners and oil majors on the back of strong commodity prices, while jet and auto parts supplier Melrose Industries jumped after agreeing to sell its Ergotron unit. The blue-chip FTSE 100 and the domestically oriented FTSE 250 advanced 1.4% …

Commodity prices boost London shares; Melrose jumps on Ergotron unit sale Read More »

By Marianna Parraga and Matt Spetalnick HOUSTON/WASHINGTON (Reuters) -Italian oil company Eni SpA and Spain’s Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt swaps halted two years ago when Washington stepped up sanctions on …

Exclusive-U.S. to let Eni, Repsol ship Venezuela oil to Europe for debt -sources Read More »

BERLIN (Reuters) – Russia’s sanctions against Gazprom Germania and its subsidiaries could cost German taxpayers and gas users an extra 5 billion euros ($5.4 billion) a year to pay for replacement gas, the Welt am Sonntag weekly reported, citing industry representatives. In May, Russia decided to stop supplying Gazprom Germania, which had been the German …

Germany faces 5 billion euros a year hit from Russian gas sanctions -newspaper Read More »

By Francesca Landini and Elvira Pollina TRENTO, Italy (Reuters) -Telecom Italia (TIM) will pursue a plan to split its landline network from its service operations to maximise asset value for all shareholders and cut its debt pile, the head of the company said on Sunday. Under pressure for years in its fiercely competitive domestic market, …

Italy’s TIM aims to maximise value and cut debt in break-up Read More »

By Divya Rajagopal TORONTO (Reuters) – Waves of industry consolidation over the decades have resulted in fewer choices for customers from telecoms to banking, with Canadians paying the world’s most expensive mobile phone bills and forking out more for everyday banking, consumer advocates say. Now, the government says enough is enough. It wants to put …

Canada’s move to bulk up antitrust muscle may miss root of problem Read More »