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BERLIN (Reuters) – Former German Chancellor Gerhard Schroeder had rejected his nomination to the supervisory board of Kremlin-controlled gas giant Gazprom, he said on Tuesday. “I gave up my nomination to Gazprom’s Supervisory Board a long time ago. I have reported this to the company as well,” Schroeder wrote on his LinkedIn account. Gazprom declined …

Former German Chancellor Schroeder says he rejected Gazprom board nomination Read More »

By Andy Bruce LONDON (Reuters) -Momentum in Britain’s private sector slowed much more than expected this month, adding to recession worries as inflation pressures ratcheted higher, according to a business survey on Tuesday that showed rising pessimism. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), a monthly gauge of the services and manufacturing industries, fell …

Sharp slowdown in UK business activity rings recession alarm Read More »

(Reuters) – Russia’s top carmaker Avtovaz said it will resume production in early June, the RIA Novosti news agency reported on Tuesday, citing the company’s new CEO. The Lada-maker partially halted production in March due to a shortage of electronic parts, as the conflict in Ukraine and imposition of Western sanctions have disrupted Russian supply …

Russia’s Avtovaz will restart production in early June, RIA reports Read More »

FRANKFURT (Reuters) – Siemens Energy could launch its planned 4.05 billion-euro ($4.34 billion) bid for minorities in Siemens Gamesa sooner than September, its chief executive said, cautioning that the decision was up to Spanish regulators. “We have an interest to do this as fast as possible,” Christian Bruch told analysts during the group’s capital markets …

Bid for Siemens Gamesa could launch before September – Siemens Energy CEO Read More »

By LA BRUSSELS (Reuters) – The 27 members of the European Union should reach a unanimous agreement on the implementation of a global minimum corporate tax by June 17, French Finance minister Bruno Le Maire said on Tuesday, adding Poland will eventually be won over. “I’m confident this minimal tax rate project will be adopted …

France Le Maire’s confident on EU unanimity on global corporate tax by June 17 Read More »

ZURICH (Reuters) – Swiss engineering group Sulzer has put its Russia business up for sale, joining the exit from the market hit by Western sanctions over Moscow’s invasion of Ukraine. The sales process will begin immediately, on Tuesday without providing further detail. A spokesperson said all options were open, including a buyout by local management. …

Swiss pumpmaker Sulzer to sell Russia business Read More »

DUBLIN (Reuters) – Bank of Ireland has committed to make up to 1 billion euros ($1.07 billion) in total funding available to two smaller non-bank lenders as part of competition clearance granted on Tuesday for its deal to buy most of KBC’s Irish assets. Bank of Ireland, the country’s largest bank by assets, agreed in …

Bank of Ireland to help fund smaller rivals as part of KBC deal Read More »

By Susan Mathew (Reuters) -European shares fell on Tuesday, tracking declines in global stock markets with business expansion data for May renewing investor concerns over slowing economic growth and monetary policy tightening. The pan-European STOXX 60 index slumped 0.8% by 0818 GMT, giving back a chunk of Monday’s 1.3% rally. Euro zone business growth slowed …

European shares slide as business growth data deepens slowdown worries Read More »