By Maria Martinez BERLIN (Reuters) -Propelled by a 500-billion-euro spending surge and with a clutch of reforms in hand, German Chancellor Friedrich Merz took office in May promising to deliver on a pledge that his predecessors failed to keep: reviving growth in Europe’s largest economy. But while it was clear that the spending would take …
Analysis-Merz’s economic promises suffer reality check Read More »
(Reuters) -Honeywell said on Thursday its quantum computing company, Quantinuum, had raised about $600 million from investors including Nvidia’s venture capital arm at a valuation of $10 billion. The latest round, which doubles Quantinuum’s valuation from $5 billion in January 2024, saw new investments from Quanta Computer, QED Investors and NVentures – Nvidia’s venture capital …
Honeywell’s Quantinuum raises funds from Nvidia, others at $10 billion valuation Read More »
STOCKHOLM (Reuters) -Northvolt buyer Lyten said on Thursday it had appointed the last chief operating officer of the bankrupt Swedish battery maker as the new CEO of Lyten Sweden, and also recruited several other former executives of the failed company. Silicon Valley-based startup Lyten, which develops lithium-sulfur batteries, unexpectedly announced last month that it was …
Lyten brings back Northvolt executives following asset acquisition Read More »
(Reuters) -Tesla’s new-car sales in Britain rose in August from last year, data showed on Thursday, primarily driven by a growing electric vehicle market even as overall UK auto sales declined. New Tesla car registrations in the UK grew 7.63% in the month, alongside a 15% jump in battery electric vehicle (BEV) sales, according to …
Tesla’s UK car sales rise in August despite broader auto dip, data shows Read More »
BERLIN (Reuters) -Oil flows through the Druzhba pipeline to Germany’s PCK refinery are expected to return to normal by the end of this week following the repair of damages, Rosneft Germany, the refinery’s largest shareholder, said on Thursday. Ukrainian drones struck an oil pumping station in Russia’s Tambov region, leading to supply disruption via the …
Oil flows to Germany via damaged Druzhba pipeline to normalise, Rosneft Germany says Read More »
By Indradip Ghosh BENGALURU (Reuters) -The European Central Bank is done cutting interest rates as a steady economic outlook and near-target inflation put the central bank in a comfortable place, according to a majority of economists polled by Reuters. Economists were divided last month on the possibility of further rate reductions, but recent data have shifted …
Steady economic outlook brings end to ECB rate cuts, economists say: Reuters poll Read More »
By Simon Johnson and Anna Ringstrom STOCKHOLM (Reuters) -The Swedish government plans to temporarily halve value-added tax on food to 6% in its election-year budget bill to help support households and the wider economy, Prime Minister Ulf Kristersson said on Thursday. Despite a series of interest rate cuts, growth has stalled this year due to …
Sweden to temporarily halve food VAT in election-year budget Read More »
LONDON (Reuters) -Around 3,000 people at Britain’s Lloyds Banking Group, judged to be among the bottom 5%, will find themselves considered for possible dismissal, a source familiar with the matter told Reuters, as CEO Charlie Nunn pursues cost cuts. Lloyds expects about half that number will lose their jobs unless their work improves, the source …
UK’s Lloyds to put thousands of staff at risk of dismissal Read More »
BERLIN (Reuters) -The European Commission is providing a 645 million euro ($755.10 million) grant for a renewable energy cluster near Bornholm in the Baltic Sea, Germany’s economy ministry said Thursday, a major step towards the creation of a cross-border offshore hub. Danish transmission system operator Energinet and its German counterpart 50Hertz signed the funding contracts …
EU grants 755 million eur for Bornholm offshore energy hub, German economy ministry Read More »
By Olesya Astakhova VLADIVOSTOK, Russia (Reuters) -Sberbank CEO German Gref, one of Russia’s most powerful bankers, warned on Thursday that the economy was stagnating and that unless the central bank slashed interest rates then the country would fall into recession. Russia’s war economy grew at 4.1% in 2023 and 4.3% in 2024, far faster than …
Sberbank CEO Gref warns of Russian recession if rates not slashed Read More »
