Reuters UK Business

BERLIN (Reuters) – The European Union’s car market will return to growth in 2022 after two years of decline, but registrations will remain 20% below 2019 levels as the chip shortage continues to hamper production, Europe’s auto manufacturers association predicted on Tuesday. Stabilising chip supplies should enable car registrations to reach 10.5 million vehicles this …

EU car market to grow 7.9% this year, still 20% below pre-pandemic – ACEA Read More »

By Mimosa Spencer PARIS (Reuters) – The world’s largest cosmetic group L’Oreal is expected to report brisk fourth-quarter sales on Wednesday after pandemic-weary consumers emerged from lockdowns to splash out on beauty products. Investors will look for the impact of increased marketing spending on L’Oreal’s margin, and tune in to executives’ results presentation Thursday for …

Beauty revival seen boosting end-of-year sales at L’Oreal Read More »

By Nick Carey LONDON (Reuters) – Governments and utilities need ambitious plans to cut red tape to install vehicle chargers if Europe is to be ready for 130 million electric vehicles (EVs) by 2035, a new report from EY and Eurelectric said on Tuesday. According to “Power sector accelerating e-mobility,” by the professional services group …

Europe needs ambitious charging plans for 130 million EVs by 2035 – report Read More »

By Eva Mathews and Dawn Chmielewski (Reuters) – Facebook-parent Meta Platforms Inc said on Monday that billionaire investor Peter Thiel, an early investor who has been on the company’s board since 2005, has decided to retire. Thiel aims to spend time helping elect candidates who he believes will advance former President Donald Trump’s agenda in …

Early Facebook investor Peter Thiel to step down from Meta board Read More »

By William Schomberg LONDON (Reuters) – British consumers slowed the pace of their spending last month as the Omicron COVID-19 wave hit fuel sales and kept people away from bars and restaurants, according to a survey which also pointed to the impact of rising inflation. Consumer spending was 7.4% higher than in January 2020 – …

UK consumers slowed their spending as COVID rules returned in January Read More »

By Valentina Za and Giuseppe Fonte MILAN (Reuters) – State-owned Italian bank Monte dei Paschi di Siena (MPS) on Monday named restructuring veteran Luigi Lovaglio as chief executive, with Rome seeking a new course for the lender after failing to offload it last year. MPS is negotiating new turnaround goals with European authorities ahead of …

Monte dei Paschi names restructuring expert as CEO as loan losses edge up Read More »

By Timothy Gardner and Kate Abnett WASHINGTON/BRUSSELS (Reuters) -The United States and the European Union pledged on Monday to work to ensure gas supplies can respond to disruptions in pipeline gas flows, as tensions rise over the massing of troops on Ukraine’s borders by Russia, Europe’s biggest gas supplier. “We’re working together right now to protect Europe’s …

EU, US pledge gas cooperation as tensions rise over Ukraine Read More »