Reuters UK Business

By Benjamin Mallet and Christian Lowe PARIS (Reuters) -The French state said on Friday it will inject around 2.1 billion euros ($2.39 billion) into EDF to ease the financial pain inflicted by nuclear reactors going offline and the government making the firm supply power below market prices. Finance Minister Bruno Le Maire said the state …

French state to inject over 2 billion euros into troubled EDF Read More »

By Simon Jessop LONDON (Reuters) – British bank Natwest cut lending to clients in the oil and gas sector by 21% in 2021 and aims to limit it further as part of efforts to decarbonise its loan book and reach net-zero emissions, it said on Friday. Financial firms around the world are increasingly committing to …

British bank Natwest cuts lending to oil and gas sector Read More »

FRANKFURT (Reuters) – The euro zone’s current account surplus rose to 310 billion euros ($352.47 billion) last year, or 2.6% of the bloc’s economic output, European Central Bank data showed on Friday. This compares to 213 billion euros in 2020, or 1.9% of the euro area’s GDP. ($1 = 0.8795 euros) (Reporting by Francesco Canepa; …

Euro zone’s current account surplus rose last year Read More »

FRANKFURT (Reuters) – European Central Bank policymaker Peter Kazimir on Friday joined a growing camp of rate-setters in favour of ending the ECB’s bond-buying programme, which were designed to boost inflation in the euro zone. In an interview with Bloomberg, Kazimir said the Asset Purchase Programme (APP) could end in August but this should not …

ECB’s Kazimir calls for ending bond buying in August -Bloomberg Read More »

BERLIN (Reuters) – Siemens Energy CEO Christian Bruch has increased pressure on its struggling wind turbine unit Siemens Gamesa. “The market environment in the onshore business is and will remain difficult. But we also must acknowledge that internal problems hurt earnings as well,” he said Friday in an advanced copy of a speech to the …

Siemens Energy’s CEO increases pressure on Siemens Gamesa Read More »

By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Allianz Chief Executive Oliver Baete said on Friday that he and the rest of the board will take a hit to their bonuses for the past year following the collapse of a multi-billion-euro set of investment funds. The issue caused Allianz to earmark 3.7 billion euros ($4.21 …

Allianz CEO and board bonuses to take hit on fund debacle Read More »

By Mimosa Spencer and Silvia Aloisi PARIS (Reuters) – French luxury group Hermes said sales grew by 11% in the fourth quarter of 2021, a touch below market expectations, as self-imposed production caps meant the group could not keep up with demand for its prized handbags. The slowdown in growth from previous quarters, in contrast …

Production caps curb growth at handbag maker Hermes Read More »