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(Reuters) -Ukraine’s gas transit operator has suffered damages totalling hundreds of millions of euros since Russian forces invaded Ukraine on Feb. 24, its head said on Wednesday. Sergiy Makogon, CEO of the operator (OGTSU), wrote on Facebook that the company continued to distribute gas to Ukrainian consumers. But he said three main gas pipelines had …

War damage costs Ukraine’s gas transit operator hundreds of millions of euros Read More »

By Brenna Hughes Neghaiwi ZURICH (Reuters) – UBS shareholders on Wednesday approved the bank’s climate roadmap, after its first-ever such vote faced pushback from several investors and climate campaigners as not going far enough. In all 77.74% of shareholder votes backed Switzerland’s biggest bank’s climate proposal — presented to investors as their first “Say-on-Climate” — …

UBS shareholders back bank’s climate roadmap Read More »

LONDON (Reuters) – British construction output maintained strong growth last month, but builders feared fast-rising inflation would reduce demand from clients as well as squeezing their own profit margins, a survey showed on Wednesday. The S&P Global/CIPS construction Purchasing Managers’ Index (PMI) was unchanged in March at 59.1, its joint-highest reading since June 2021 and …

UK construction growth buoyant in March despite inflation pressure – S&P/CIPS Read More »

(Reuters) – Britain’s finance ministry has blocked plans to spend hundreds of millions of pounds to reduce energy bills, according to The Telegraph. The Downing Street and business secretary’s team was pushing for an expansion of the Energy Company Obligation scheme to be included in Wednesday’s energy security strategy, the report said. (Reporting by Maria …

UK treasury blocks cash for home energy efficiency scheme – The Telegraph Read More »

FRANKFURT (Reuters) – The European Central Bank could raise interest rates back to zero already this year to fight high inflation, Belgian central bank chief Pierre Wunsch said in a magazine interview, joining a growing group of policymakers now openly discussing a rate hike. The ECB has kept rates in negative territory since 2014 and …

ECB could raise interest rates back to zero this year – Wunsch Read More »

PARIS (Reuters) – French energy giant EDF on Tuesday said it successfully completed a previously announced capital increase in which the French state contributed to its stake by around 84%, injecting 2.7 billion euros ($2.95 billion) into the company. The rights issue had a subscription rate of 129%, EDF said in a statement, adding the …

EDF says capital increase successful Read More »

(Reuters) – Thousands of auto workers have been furloughed and food prices are soaring as Western sanctions pummel the small Russian city of Kaluga and its flagship foreign carmakers, with more sanctions likely to come. The Kaluga region, 190 kilometres (120 miles) southwest of Moscow, says it has attracted more than 1.3 trillion roubles ($15 …

Russian auto boomtown grinds to halt over Ukraine sanctions Read More »

(Reuters) – The world’s biggest cruise operator Carnival Corp on Tuesday reported its busiest booking week in history as leisure travel continues to rebound from a long pandemic-led hiatus. The news sent shares of Carnival up nearly 4% in afternoon trading. The stock traded up more than 8% earlier in the session on the New …

Carnival Corp. reports record week of bookings, shares rise Read More »

PARIS (Reuters) – Farfetch Ltd, an online retailer of luxury fashion products, said on Tuesday it will make an investment of up to $200 million in Neiman Marcus Group, gaining a stronger foothold in the U.S. as part of a deal to develop the high-end department store’s online business. The investment cements a “very strategic, …

Luxury retailer Farfetch invests in Neiman Marcus Read More »