By Emilio Parodi MILAN (Reuters) -Italian prosecutors are seeking to place shoemaker Tod’s under judicial administration over alleged worker abuses in its supply chain, in the latest in a string of cases that have tainted the image of some of the biggest names in fashion. Tod’s, which told Reuters it complies with the law, would …
By David Milliken LONDON (Reuters) -Bank of England Chief Economist Huw Pill said on Wednesday that central bankers should adopt what he described as a “conservative” approach to setting interest rates, including responding firmly if price growth gets out of hand. Pill – who voted against the BoE’s most recent rate cut to 4% in …
Bank of England’s Pill urges ‘conservative’ approach to setting rates Read More »
By Elena Fabrichnaya SOCHI, Russia (Reuters) -The Russian government’s proposal to increase value-added tax and eliminate some tax breaks in 2026 to balance the budget will lower bank profits by up to 9%, Sberbank’s CEO German Gref said on Wednesday. The draft budget, under review in parliament, proposes raising VAT by two percentage points next …
Russia’s VAT hike will knock $3.4 billion off banks’ profit in 2026, Sberbank CEO says Read More »
By David Milliken and Phoebe Seers LONDON (Reuters) -Global financial markets could tumble if investors’ mood sours on the prospects for artificial intelligence or the independence of the U.S. Federal Reserve, the Bank of England warned on Wednesday. The BoE said share price valuations on U.S. stock markets were similar to those seen near the …
Markets face ‘sharp correction’ if mood sours on AI or Fed freedom, Bank of England says Read More »
ZURICH (Reuters) -Swiss industry on Wednesday raised concern over the European Union’s plans to cut tariff-free steel import quotas by almost half and to set a 50% tariff for excess shipments, urging the bloc to make exceptions for Switzerland. Industry association Swissmem said curbs on free trade would hurt Swiss manufacturers, which are already facing …
Swiss industry flags concern over EU steel tariffs, presses for exemptions Read More »
PARIS (Reuters) -Airbus said on Wednesday it had delivered 507 jets in the first nine months, leaving 313 more airplanes to deliver in the fourth quarter to reach a full-year target of around 820. The world’s largest planemaker confirmed a Reuters report that it had delivered 73 jets in September, a record for that month …
VIENNA (Reuters) -Austria’s government has renegotiated civil servants’ annual pay rise, saving 310 million euros ($361 million) next year, it said on Wednesday, as it tries to tackle a budget deficit over the EU limit and the highest inflation in western Europe. The three-party coalition government in office since March took the highly unusual step …
Austria saves 310 million euros by renegotiating civil servants’ pay rise Read More »
By Corina Pons MADRID (Reuters) -Major Boeing customer Ryanair said on Wednesday it was confident the U.S. planemaker would get permission to boost the monthly production rate of its flagship 737 model to 42 in October and then 48 by March or April next year. The Irish airline, Boeing’s largest European customer, has had to …
Major Boeing customer Ryanair sees 737 production hitting 48 per month by April Read More »
By Maria Martinez BERLIN (Reuters) -Germany slightly raised its growth forecast for this year to 0.2% on Wednesday, helped by a planned government spending spree, but ongoing trade tensions will continue to weigh on exports, the country’s main engine for growth. The new government, headed by Chancellor Friedrich Mertz, in March approved a 500-billion-euro ($581.60 …
German economy ministry lifts 2025 growth forecast to 0.2% Read More »
RIYADH (Reuters) -Saudi Arabia’s Riyadh Air is set to launch its inaugural flight on October 26, with Britain’s Heathrow Airport as its first destination, state TV reported on Wednesday. Riyadh Air’s CEO Tony Douglas said in a press conference that the second destination will be Dubai. Douglas added that initial ticket sales will be for …
Riyadh Air to launch inaugural flight to London on October 26 Read More »
