By Philip Blenkinsop BRUSSELS (Reuters) -The European Commission proposed on Tuesday cutting tariff-free steel import quotas by almost half and a 50% duty for excess shipments in a bid to preserve viable steelmaking in the European Union. Due to rising imports and U.S. tariffs, EU steel producers are operating at only 67% of capacity and …
EU to halve steel import quotas to preserve domestic industry Read More »
FRANKFURT (Reuters) -European Central Bank President Christine Lagarde renewed her call on Tuesday for a beefed-up global role for the euro currency, arguing that the bloc is now an innocent bystander, suffering shocks created in Washington and elsewhere. The euro, the world’s second most-used currency behind the dollar, has appreciated sharply this year as investors …
ECB’s Lagarde renews calls for beefed up role for euro Read More »
LARDY, France (Reuters) -Ampere, Renault’s electric vehicle and software subsidiary, confirmed on Tuesday its cost reduction targets, which are central to the French automaker’s transformation strategy. “We are working on it; we haven’t given up on doing that,” said Josep Maria Recasens, CEO of Ampere, referring to the company’s goal of reducing by 40% the …
Renault unit Ampere confirms its cost reduction targets Read More »
(Reuters) -London’s FTSE 100 closed nearly flat on Tuesday as investors paused after last week’s rally, with overall market declines being offset by gains in major energy stocks. The blue-chip index closed up 0.05%, while the mid-cap FTSE 250 slipped 0.44%. An index of retailers fell 1.1%. B&M slumped 7.8%, the biggest drop on the …
By Marc Jones LONDON (Reuters) -The boom in U.S. dollar-backed stablecoins, helped by Donald Trump’s crypto policies, could suck $1 trillion worth of deposits out of emerging economy banks in the next few years, a report from Standard Chartered estimates. About 99% of all stablecoins are pegged to the dollar, which economists say effectively makes …
By Javi West Larrañaga and Marleen Kaesebier (Reuters) -European corporate earnings are set to shrink in the third quarter, the latest forecasts showed on Tuesday, as companies feel the impact of U.S. President Donald Trump’s trade tariffs. European companies are expected to report a drop of 0.2% in third-quarter earnings, on average, according to LSEG …
Europe Inc results outlook clouds as Trump tariffs hit home Read More »
By Mateusz Rabiega (Reuters) -Shares of European luxury players rose on Tuesday, pushing the European luxuries index to its highest level since late May this year, as designing debuts among fashion houses and a push for affordability gave investors hope that the sector was set for a gradual comeback. The rally was led by the …
European luxury shares rise as creative debuts raise hopes for sales comeback Read More »
MILAN (Reuters) -Eni and Argentina’s YPF are making progress on the Vaca Muerta liquefied natural gas project, Italy’s foreign minister said on Tuesday, with a final investment decision for the initiative expected soon. “I welcome with satisfaction the news of significant progress in the contacts between Eni and YPF for the liquefied natural gas export …
Eni, Argentina’s YPF progressing on Vaca Muerta gas project, Italy’s minister says Read More »
PRAGUE (Reuters) -The Czech budget deficit may be wider than the outgoing government has planned, Andrej Babis, whose populist ANO party won the parliamentary election at the weekend, said on Tuesday. Babis said about 60 billion crowns ($2.9 billion) was lacking for road building and other projects in the pipeline which will otherwise need to …
Czech election winner flags potential higher 2026 budget deficit Read More »
PARIS (Reuters) -Commodity broker StoneX has partnered with price reporting agency Expana to launch over-the-counter dairy contracts based on Expana’s European dairy price benchmarks, the companies said on Tuesday. The initial contracts will cover fat-filled milk powder and high-protein whey, with plans to expand to other dairy products over time. They are due to be …
StoneX and Expana to launch OTC dairy derivatives Read More »
