LONDON (Reuters) -The British pound held its ground on Friday and was set to post a second consecutive weekly gain as expectations of rising interest rates propped up the currency. Against the U.S. dollar, the pound edged 0.2% higher at $1.3577 but was set to rise 0.3% for the week. Versus the euro, the pound …
Sterling set for second consecutive week of gains Read More »
FRANKFURT/LONDON (Reuters) – Norway’s Aker Clean Hydro and Swiss logistics group Kuehne & Nagel on Friday announced a cooperation to boost carbon-neutral container transport at sea, banking on hydrogen as one of the fuels that will make it possible. The partnership comes as Europe is trying to establish a flourishing hydrogen industry to help CO2-intense …
Aker Clean Hydro, Kuehne & Nagel in CO2-free container shipping tie-up Read More »
By Victoria Waldersee BERLIN (Reuters) – BMW will pay 3.7 billion euros ($4.2 billion) to take majority control of its Chinese joint venture after securing the necessary licence from Beijing, as global automakers seek a tighter grip on business in the world’s biggest car market. The German carmaker said on Friday it was increasing its …
BMW pays $4.2 billion to take control of Chinese JV Read More »
By Simon Jessop LONDON (Reuters) – A group of European development banks plan to double its funding for global efforts to stop plastic waste from polluting the world’s oceans to 4 billion euros ($4.6 billion). The Clean Oceans Initiative, led by the French and German development banks and the European Investment Bank is the largest …
European group raises funding to $4.6 billion to prevent plastics in seas Read More »
By David Milliken and William Schomberg LONDON (Reuters) -Britain suffered a smaller economic hit than feared in December as COVID-19 cases mounted, capping a historic two-year collapse and rebound for the world’s fifth-biggest economy, but surging inflation is set to slow the recovery in 2022. Gross domestic product (GDP) fell 0.2% in December – as …
UK economy suffers small Omicron hit before inflation challenge Read More »
By Isla Binnie MADRID (Reuters) -Naturgy defended a plan to split into two listed businesses on Friday, promising the new structure would allow both companies to grow after a share price plunge indicated investor scepticism. The Spanish gas and power group said on Thursday it would separate its infrastructure and energy businesses, while maintaining the …
Spain’s Naturgy defends plan to split business after shares slide Read More »
By Marwa Rashad LONDON (Reuters) – Asian spot liquefied natural gas (LNG) stabilised this week but is expected to rise over the coming weeks as below-normal temperatures across much of north-east Asia could send buyers back to the spot market to boost inventory levels. The average LNG price for March delivery into north-east Asia reached …
Asian LNG prices stable but rises expected on colder weather Read More »
By Elvira Pollina MILAN (Reuters) – The board of Telecom Italia (TIM) will discuss the group’s overhaul on Monday as newly appointed chief executive Pietro Labriola strives to forge an alternative to a takeover proposal by U.S. fund KKR. The private equity group approached Italy’s biggest telecom operator in late November but the process stalled …
Telecom Italia board to discuss network spinoff in slow-burn KKR drama Read More »
PARIS (Reuters) – Global shipping group CMA CGM said on Friday it will stop transporting plastic waste on its vessels from June 1 to help curb pollution. One of the world’s largest container lines, the French-based firm said it currently carries the equivalent of about 50,000 standard containers of plastic waste per year. Plastic has …
Shipping firm CMA CGM to stop transporting plastic waste Read More »
LONDON (Reuters) – German industrial companies BASF and Heraeus said on Friday they would build a facility in China to recover precious metals such as platinum and palladium from vehicle exhaust systems. Heraeus said the companies would invest $75 million. They will be 50-50 partners in the venture in Pinghu, a city near Shanghai, with …
BASF and Heraeus plan $75 million plant in China to recycle autocatalysts Read More »
