Reuters UK Business

By Kate Abnett BRUSSELS, Dec 10 (Reuters) – The European Union is set to accelerate approvals for energy grid projects and develop EU-wide plans for cross-border electricity infrastructure to curb high energy prices that industries have warned make Europe uncompetitive. Industrial energy prices in Europe are more than double those in the United States and …

EU to fast-track power grid projects in race to lower energy prices Read More »

Dec 10 (Reuters) – Britain’s blue-chip FTSE 100 edged up on Wednesday, supported by gains in banking stocks as investors awaited the U.S. Federal Reserve’s interest rate decision. The FTSE 100 closed up 0.1%, while the domestically focussed FTSE 250 index dipped 0.4% to a two-week low. Lenders HSBC and Standard Chartered rose 3.2% and …

Banks support FTSE 100 ahead of Fed decision Read More »

Dec 10 (Reuters) – Pfizer will cut over 200 jobs in Switzerland as part of its multi-year cost reduction program, Bloomberg News reported on Wednesday, citing people familiar with the matter. The drugmaker will reduce its workforce in the country to roughly 70 by the end of this year from 300, the report said, adding …

Pfizer to cut over 200 jobs in Switzerland to reduce costs, Bloomberg News reports Read More »

By Foo Yun Chee BRUSSELS, Dec 10 (Reuters) – Alphabet’s Google is set to be hit with a potentially large EU fine early next year if it does not do more to ensure that its app store complies with EU rules aimed at ensuring fair access and competition, people with direct knowledge of the matter …

Exclusive-Google faces fines over Google Play if it doesn’t make more concessions, sources say Read More »

Dec 10 (Reuters) – Volkswagen’s Audi Group said on Wednesday it had entered a strategic partnership with U.S.-based technology company UST, which will acquire a majority stake in Italy-based design and engineering unit Italdesign. The deal, subject to regulatory approval, will keep Audi as a long-term strategic partner and key client of Italdesign. Financial terms …

US tech firm UST partners with Volkswagen’s Audi, takes majority stake in Italdesign Read More »

ZURICH, Dec 10 (Reuters) – U.S. Democratic Senator Elizabeth Warren has written a letter to UBS requesting that it provide details on any discussions the Swiss bank may have had with Treasury Secretary Scott Bessent. In a December 9 letter to UBS chairman Colm Kelleher, Warren asked for a summary of interactions with U.S. officials …

US Senator Warren asks UBS for details of any Bessent talks Read More »

BUDAPEST, Dec 10 (Reuters) – Central European currencies were a touch stronger on Wednesday as markets eyed the U.S. Federal Reserve’s interest rate decision later in the day and awaited remarks from Fed Chair Jerome Powell for policy clues. The U.S. dollar dropped slightly, with investors expecting a cut after one of the most fractious …

FX edges up as markets await Fed rate decision Read More »

By Foo Yun Chee BRUSSELS, Dec 10 (Reuters) – French media conglomerate Vivendi made a last-ditch effort on Wednesday to stave off a potential EU antitrust fine, following charges it closed its acquisition of publisher Lagardere before receiving regulatory approval. Vivendi, represented by more than a dozen lawyers, made its case to senior competition officials …

Vivendi in last ditch effort to avert EU fine for closing Lagardere deal too soon Read More »