BRUSSELS, Dec 11 (Reuters) – The European Commission on Thursday said it had approved 623 million euros ($729.16 million) in German government aid to support the creation of two new semiconductor manufacturing facilities in Germany. The aid consists of two grants, worth 495 million euros and 128 million euros, respectively. The bigger grant will go …
EU approves German state aid to support chip factories Read More »
By Raechel Thankam Job and Susanna Twidale LONDON, Dec 11 (Reuters) – Drax Group said on Thursday it could convert part of its power station in Yorkshire, northern England, into a data centre as soon as 2027, using land, cooling systems and transformers once dedicated to coal generation. Europe’s ageing coal and gas-fired power plants …
Drax plans to turn coal-era power station into data centre by 2027 Read More »
PARIS, Dec 11 (Reuters) – France still has time to pass a budget before the end of the year and can pass special stopgap legislation to avoid a shutdown in spending if time runs out, Finance Minister Roland Lescure said on Thursday. The 2026 budget bill is currently under discussion in the Senate after the …
France can still pass budget by year-end, finance minister says Read More »
By Maria Martinez BERLIN, Dec 11 (Reuters) – Germany’s economy has stabilised but remains stuck in a phase of meagre growth, with a planned fiscal expansion from next year set to provide limited momentum, three German economic institutes said on Thursday. The Ifo Institute cut its growth forecast from 2025 to 2027, expecting growth of …
German economy stuck in slow lane, institutes say Read More »
By Christian Kraemer and Maria Martinez BERLIN, Dec 11 (Reuters) – Germany’s construction sector, mired in crisis for years, is on the verge of a revival, the country’s main construction trade body said on Thursday, as the government pumps hundreds of billions of euros into a massive infrastructure renewal plan. The Central Association of the …
Germany’s construction sector expects infrastructure fund to fuel turnaround Read More »
MOSCOW, Dec 11 (Reuters) – The Kremlin said on Thursday that Russia was interested in attracting additional foreign investment after the Wall Street Journal reported that the U.S. plan for peace in Ukraine includes proposals to invest in Russian rare earths and energy. The Journal said the plans, detailed in appendices to peace proposals drafted …
Kremlin says Russia is interested in foreign investment after report of major U.S. plans Read More »
BERN, Dec 11 (Reuters) – The Swiss National Bank continues to support the banking regulation measures proposed for UBS by the Federal Council in June, the central bank’s Vice Chairman Antoine Martin said on Thursday. “We believe that these measures are appropriate and targeted,” said Martin, whose role includes overseeing banking stability in Switzerland. “We …
Swiss National Bank still supports proposed UBS rules Read More »
Dec 11 (Reuters) – Video game developer and publisher Coffee Stain Group started trading on the Nasdaq First North exchange on Thursday after its separation from Swedish gaming group Embracer. The spin-off of Embracer’s independent game studios into Coffee Stain is part of a sweeping restructuring plan, which also included listing board game maker Asmodee …
Coffee Stain debuts with $615 million valuation after Embracer spin-off Read More »
FRANKFURT, Dec 11 (Reuters) – The European Central Bank proposed simpler bank supervision rules on Thursday in an effort to prune excessively complex regulation without weakening overall capital requirements. Below are some of the bank’s key recommendations. They are still subject to European Union approval, which is normally a lengthy process. For the full ECB …
Factbox-How is the ECB proposing to streamline bank rules? Read More »
Dec 11 (Reuters) – Russia’s revenues from exports of crude oil and refined products fell again in November due to lower export volumes and weaker prices, the International Energy Agency said on Thursday, touching their lowest level since its 2022 invasion of Ukraine. Russia’s economically vital energy industry is under strain from an increase in …
