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FRANKFURT (Reuters) – European Central Bank policymakers were keeping their options open on Friday about possible future interest rate cuts, flagging an uncertain outlook for trade, energy prices and foreign exchange rates. The European Central Bank left interest rates unchanged on Thursday and maintained an upbeat view on growth and inflation, leading traders to cut …

ECB policymakers keep rate options open amid uncertain outlook Read More »

By Jesús Aguado MADRID (Reuters) – Spanish bank Sabadell’s board unanimously recommended its shareholders reject BBVA’s hostile takeover bid on Friday, a move that may add pressure on the rival to increase its offer. BBVA formally launched its 15.3 billion euro ($17.97 billion) bid for Sabadell on Monday as it seeks to create the second-largest …

Sabadell’s board tells shareholders to reject BBVA’s hostile takeover bid Read More »

(Reuters) – Energy group OMV has started negotiations with employee representatives in Austria as part of a cost-saving programme, it said in a statement on Friday. It did not give an exact figure but said the negotiations could lead to a “mid-three digit labour impact” in the country and that it would announce further details …

Oil company OMV plans to cut staff in Austria Read More »

MADRID (Reuters) – Romanian telecoms company DIGI has hired investment bank Rothschild to evaluate a possible share listing for its Spanish business on the Madrid exchange, newspaper Expansion reported on Friday, citing unidentified market sources. DIGI’s Spanish business could be worth about 2.5 billion euros ($2.93 billion), the newspaper said. DIGI declined to comment, although …

Romania’s DIGI hires Rothschild to evaluate possible IPO of Spanish business, Expansion reports Read More »

By Stephen Nellis and Akash Sriram SAN FRANCISCO (Reuters) -Fortune magazine wondered on its cover whether Oracle co-founder Larry Ellison might become the world’s richest person, while BusinessWeek declared Ellison is “cool again,” noting that “Silicon Valley’s bad boy is having his revenge.” Both were published 25 years ago, but they could’ve run this week. …

Larry Ellison is back on top, 48 years after he co-founded Oracle Read More »

By Kate Abnett and Nora Buli BRUSSELS (Reuters) – The European Union could phase out Russian gas within six to 12 months by replacing it with U.S. liquefied natural gas, and the United States communicated this position to EU officials this week, U.S. energy secretary Chris Wright told Reuters on Friday. Wright was speaking in …

Exclusive-EU could quit Russian gas within a year, US energy chief says Read More »

MILAN (Reuters) – Giorgio Armani, who died last week aged 91, surprised the fashion world by instructing his heirs to gradually sell the empire he had set up in his 50-year-long career.  Like everything he did – from the broad company strategies to the models’ hair before a catwalk – the “king of fashion” did …

Explainer-Armani after Giorgio Armani: key details of his will Read More »

MOSCOW (Reuters) – Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank cut its key rate to 17% from 18%. They spoke in Russian and the quotes below were translated into English by Reuters. *ZABOTKIN ON REASONS FOR FLUCTUATIONS IN ROUBLE EXCHANGE RATE …

Russia’s Nabiullina and her deputy Zabotkin on rates, economy and the budget Read More »