Dec 4 (Reuters) – IKEA opened its first store in New Zealand on Thursday, entering its 64th market and marking the furniture retailer’s most distant outpost from its native Sweden. The long-awaited 34,000 square-metre (365,973 square foot) store at the Sylvia Park shopping centre in Auckland employs 500 people and is IKEA’s 505th store. IKEA’s …
IKEA opens its farthest store from Sweden in New Zealand Read More »
VIENNA, Dec 4 (Reuters) – Austria’s government plans to finance a 500-million-euro ($584 million) package to reduce energy costs by using special distributions and reserves of state-owned companies, it said on Thursday. 200 million euros will come from reserves of real estate operator BIG, 200 million euros from energy group Verbund.VI> and 100 million euros …
Austria to spend $584 million of state-owned company reserves to lower energy costs Read More »
By Nerijus Adomaitis OSLO, Dec 4 (Reuters) – Oil firms in Norway will drill 18% fewer exploration wells next year as the industry focuses on existing fields, a survey showed on Thursday, potentially undermining the government’s goal of sustaining output from Europe’s largest petroleum producer. The Norwegian government wants the industry to explore more in …
Oil companies in Norway to drill 18% fewer exploration wells in 2026, survey shows Read More »
By Marta Maciag GDANSK, Dec 4 (Reuters) – Polish fashion retailer LPP expects to meet or exceed its financial targets this year, its finance chief told Reuters, saying the expansion of Chinese e-commerce platforms into Europe had yet to significantly dent its business. The upbeat expectations are supported by better cost management, notably through the …
Polish fashion retailer LPP can beat annual targets amid e-commerce challenge, CFO says Read More »
By Dmitry Zhdannikov and Marek Strzelecki LONDON, Dec 4 (Reuters) – Hungary’s MOL has told U.S. officials it is interested in buying international assets of sanctioned Russian oil major Lukoil, three sources familiar with the matter said, joining a growing list of contenders. The United States imposed sanctions on Russia’s largest privately-owned oil producer in …
Exclusive-Hungary’s MOL interested in Lukoil assets, sources say Read More »
By David Milliken and Phoebe Seers LONDON, Dec 4 (Reuters) – The Bank of England said on Thursday that it was launching a stress test of how the $16 trillion global private equity and private credit industries would deal with a major financial shock. The central bank said the system-wide exploratory scenario will produce a …
Bank of England launches stress test of private equity and credit Read More »
By Anshuman Tripathy Dec 4 (Reuters) – Canada’s Horizon Aircraft , which is developing a hybrid-electric vertical takeoff and landing aircraft, said on Thursday it has partnered with UK-based Motion Applied to design a key component for its flying taxi. The partnership will focus on creating a custom motor drive inverter for Horizon’s Cavorite X7 …
Horizon Aircraft taps F1 supplier Motion Applied for flying taxi motor system Read More »
MOSCOW, Dec 4 (Reuters) – Russia said on Thursday that any “illegal action” by the European Union in relation to its frozen assets would elicit “the harshest reaction”, and that Moscow was already preparing its response. The European Commission proposed on Wednesday an unprecedented use of frozen Russian assets or international borrowing to raise 90 …
BRUSSELS, Dec 4 (Reuters) – EU regulators are considering whether to impose interim measures against Meta over its rollout of artificial intelligence features in its messaging service WhatsApp, EU antitrust chief Teresa Ribera said on Thursday. Ribera, who had earlier opened an investigation into the U.S. tech giant’s policy which will go into effect in …
EU considering interim measures against Meta, EU antitrust chief says Read More »
By Bernadette Hogg and Orest Dovhan Dec 4 (Reuters) – The CEO of Europe’s largest copper producer Aurubis said on Thursday the European Union’s Critical Raw Materials Act should have positive long-term effects for the sector, despite tough talks to ensure that recycling materials stay in the bloc. The Critical Raw Materials Act came into …
Aurubis seeks curbs to keep metal recycling materials in EU Read More »
