PARIS (Reuters) – The condition of France’s soft wheat crop has declined for a fifth consecutive week, data from farm office FranceAgriMer showed on Friday, as dryness persisted in the European Union’s biggest grain producer. An estimated 67% of the soft wheat crop was in good or excellent condition in the week to May 30, …
French wheat crop rating slips further in week to May 30 Read More »
FRANKFURT (Reuters) – The insurer Allianz said on Friday it would sell a majority stake in its Russian operations to the owner of a Russian insurer as it sought to pare its footprint in the country after the invasion of Ukraine. Allianz, which had already stopped accepting new business in Russia, last month flagged that …
Allianz to keep 49.9% stake in Russian operations after sale Read More »
By Ben Klayman and David Shepardson DETROIT/WASHINGTON (Reuters) -Ford Motor Co on Thursday said it will invest $3.7 billion in assembly plants in Michigan, Ohio and Missouri for production of both electric and gasoline-powered vehicles. Ford, whose shares were up 2.4% in afternoon trading, said $2.3 billion of the total investment will be spent on …
Ford to invest $3.7 billion for production of EVs, gas-powered vehicles Read More »
By David Shepardson and Mike Spector WASHINGTON/NEW YORK (Reuters) -The Justice Department on Thursday charged the U.S. business of Fiat Chrysler Automobiles with criminal conspiracy in its multi-year emissions fraud probe surrounding vehicles with diesel engines. Reuters reported last week FCA US LLC, now part of Stellantis NV, had agreed to plead guilty to a …
U.S. charges Stellantis unit in diesel emissions probe Read More »
By Nivedita Balu and Yuvraj Malik (Reuters) – Microsoft Corp on Thursday cut its fourth-quarter forecast for profit and revenue, making it the latest U.S. company to warn of a hit from a stronger greenback. A hawkish Federal Reserve and heightened geopolitical tensions have driven a 14% gain in the dollar against a basket of …
By Angelo Amante, Giuseppe Fonte and Giulia Segreti ROME (Reuters) – Germany’s Rheinmetall has sent Italy’s Leonardo a non-binding offer for a minority stake in its OTO Melara cannon maker unit, according to a document and two sources close to the matter. The offer was presented at the end of May and Rheinmetall is seeking …
Exclusive – Rheinmetall makes non-binding offer for Leonardo’s OTO Melara unit – sources Read More »
By Simon Lewis and Doina Chiacu WASHINGTON (Reuters) – The Biden administration on Thursday issued a raft of new sanctions aimed at punishing Russia for its invasion of Ukraine, with targets including several yachts linked to Russian President Vladimir Putin, an oligarch who heads a major steel producer, and a cellist it says acts as …
U.S. targets yachts, cellist linked to Putin over Russia’s war in Ukraine Read More »
BERLIN (Reuters) – E-commerce sales in Germany fell by 6.7% year on year in the six-week period from April 1 to May 16 as the sector grappled with the effects of the war in Ukraine and rising prices, an industry body said on Thursday. The impact was felt across all shopping clusters with the exception …
German e-commerce sales hit by Ukraine war, high prices – industry Read More »
By Susan Mathew (Reuters) – European shares bounced on Thursday, led by industrial and luxury names, with gains limited by a slide in energy stocks and lingering worries over slowing economic growth. The pan-European STOXX 600 index rose 0.4% after losing nearly 2% over the last two sessions, with markets keeping a close watch on …
European shares rise after two-day decline, data in focus Read More »
BRUSSELS (Reuters) – Purchasers of vehicles equipped with defeat devices must have a right to compensation from the manufacturer, an adviser to the top EU court said on Thursday in a case brought against Mercedes-Benz. Judges of the Court of Justice of the European Union are not bound by advice from an advocate general, but …
Defeat device car owners entitled to damages – EU court adviser Read More »
