LONDON (Reuters) – British International Investment (BII) and U.S. bank Citigroup Inc have signed a $100 million risk-sharing facility aimed at boosting lending to small businesses across Africa by up to four times that amount, BII said in a statement. The deal between Citi and BII, Britain’s development finance institution, aims to help Citi expand …
Citi, UK’s BII agree $100 million risk-sharing facility for Africa Read More »
By Susan Mathew (Reuters) -European shares jumped 1.5% on Tuesday, on hopes that demand in China could be sustained as authorities looked to relax COVID-19 restrictions that had started to squeeze the world’s second-largest economy. Travel and commodity-linked stocks rose 2.2% and 2.3%, respectively, while banks and industrial stocks were among sectors providing the biggest …
China COVID relief pushes European shares up over 1% Read More »
By Natalie Grover LONDON (Reuters) – AstraZeneca moved to bolster its COVID-19 portfolio of antibodies on Tuesday with a $157 million licensing deal for experimental therapies developed by newly-launched biotech RQ Bio. In addition to the initial sum, the Anglo-Swedish drugmaker faces possible royalty payments as part of the exclusive licence to develop pre-clinical COVID …
AstraZeneca boosts COVID portfolio with RQ Bio deal Read More »
By Katie Paul, Krystal Hu and Hyunjoo Jin (Reuters) -Elon Musk said on Tuesday his $44 billion offer would not move forward until Twitter Inc shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price for the company. “My offer was based …
Musk seeks proof on share of spam bot on Twitter for deal to progress Read More »
By David Milliken and William Schomberg LONDON (Reuters) -Britain’s unemployment rate fell to its lowest since 1974 in the first three months of this year, but soaring inflation led to the biggest annual fall in real earnings for most workers since 2013, official figures showed on Tuesday. The jobless rate dropped to 3.7% from 3.8% …
UK unemployment hits 48-year low but inflation squeezes pay Read More »
By Victoria Waldersee BERLIN (Reuters) -Daimler Truck Holding said rising raw materials prices and inflationary pressures could weigh into its second quarter, but the truckmaker expected to continue passing high costs to customers amid record levels of demand. Once costs begin to decrease again, it could lower customer prices, Chief Financial Officer Jochen Goetz said …
Daimler Truck sees high demand cushioning raw material price impact Read More »
By Ross Kerber and Simon Jessop BOSTON/LONDON (Reuters) -Big Oil has enjoyed an easier ride at shareholder meetings so far this year compared with last year’s punishing run of hostile investor votes tied to climate concerns, as those issues have been eclipsed by tight oil supplies. Major oil companies have handily defeated several high-profile climate …
Big Oil gets investor reprieve as energy worries trump climate concerns Read More »
MILAN (Reuters) -Italian energy group Eni will open bank accounts this week to pay for Russian gas after clarification that such a move will not breach sanctions, two sources said on Monday. In updated guidance on Friday, the European Commission confirmed its previous advice that EU sanctions do not prevent companies from following Russia’s payment …
Eni to open bank accounts to pay for Russian gas after EU clarification – sources Read More »
(Reuters) -Renault is to sell its majority stake in carmaker Avtovaz to a Russian science institute reportedly for just one rouble with a six-year option to buy it back, leaving the door open for the French carmaker’s return. Moscow Mayor Sergei Sobyanin said that in order to preserve thousands of jobs, Renault’s plant in the …
Renault sells Russia’s Avtovaz stake, but leaves room for return Read More »
MILAN (Reuters) – Pirelli investor Camfin said on Monday that it and fellow shareholder ChemChina have indicated Giorgio Luca Bruno, the Italian tyremaker’s deputy chief executive officer, as the company’s new CEO from the spring of next year. Camfin and ChemChina agreed that the current CEO, Marco Tronchetti Provera, would be the company’s executive vice …
Pirelli’s shareholders indicate Bruno as new CEO, extend pact Read More »
