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PARIS (Reuters) – Renault unveiled on Thursday a prototype hydrogen fuel cell-powered sports utility vehicle (SUV), as the French carmaker scrambles to catch up with rivals in the race to cleaner driving. Renault said the car, dubbed the ‘Scenic Vision’, would not be commercially available before 2030-2032. A fully electric version will hit the market …

Renault unveils hydrogen-powered prototype SUV in race to cleaner driving Read More »

By Susan Mathew (Reuters) -European shares slumped 1.7% on Thursday following a sharp sell-off on Wall Street, as dismal results from big retailers underlined the hit from surging inflation on the world’s biggest economy. Tracking U.S. peers, regional retailers fell 2.4% and were the biggest drags on the pan-European STOXX 600 index, which extended declines …

Retailers push European shares lower after Wall St jolt Read More »

By Gianluca Semeraro MILAN (Reuters) -Assicurazioni Generali beat expectations in the first quarter even as impairments on Russia drove net profit lower, a boost for CEO Philippe Donnet who last month won a shareholder battle to keep his job for another three years. Italy’s biggest insurer said on Thursday net profit fell 9.3% from a …

Generali beats profit forecast despite Russia impact Read More »

MADRID (Reuters) – Spanish telecom firm Telefonica said on Thursday it agreed to sell a 7.08% stake in the media group Prisa, the publisher of El Pais newspaper, for 34 million euros. Telefonica agreed to sell the stake with a 17% premium over the closing price on Wednesday to privately held Spanish firm Global Alconaba. …

Telefonica sells 7.08% stake in El Pais owner Prisa for 34 million euros Read More »

LONDON (Reuters) – British finance minister Rishi Sunak gave the Bank of England and its governor Andrew Bailey – who have been criticised for the recent surge in inflation – his backing on Wednesday, saying they were focused on bringing down price growth. “It is the Bank of England’s role to control inflation, and they …

UK’s Sunak backs Bank of England after inflation criticism Read More »

By Ross Kerber and Hyunjoo Jin (Reuters) -An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc from the widely followed S&P 500 ESG Index because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk responded with harsh …

Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury Read More »

By Nelson Bocanegra BOGOTA (Reuters) – The Americas division of German logistics giant Deutsche Post AG will invest $137 million this year in increasing its operating capacity, including spending on airplanes, its chief said on Wednesday. DHL Express in the Americas – which covers countries from Canada to Chile – is also planning to double …

DHL Express Americas to invest $137 million in operating capacity this year-executive Read More »

LONDON (Reuters) – British finance minister Rishi Sunak will warn on Wednesday that easing the cost-of-living crisis for families will not be easy and he will also promise to cut business taxes to boost investment, staff training and innovation. British inflation surged last month to its highest annual rate since 1982, with consumer price inflation …

UK’s Sunak to warn cost of living crisis won’t be easy to fix Read More »

(Reuters) – Oil pipeline monopoly Transneft has joined other Russian entities in curbing access to trade and financial data, sources told Reuters. In the wake of Western sanctions imposed on Russia after it sent troops into Ukraine, the central bank said it would allow companies to withhold financial results. Russian authorities are also allowing companies …

Factbox-Russian firms, entities halt publishing data amid sanctions Read More »

By Saikat Chatterjee LONDON (Reuters) – In volatile currency markets, one trade stands out as an easy bet: selling the British pound. With the world’s fifth-biggest economy grappling with a particularly unhealthy cocktail of slowing growth and surging inflation, the British currency has become the medium of choice to express a negative view. Official data …

Analysis-British Pound: The sick man of the currency world Read More »