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(Reuters) -Citigroup has hired two senior executives from JPMorgan to strengthen its leadership team and expand its financing business, according to an internal memo seen by Reuters on Wednesday. Aloke Gupte, previously co-head of international equity capital markets (ECM) at JPMorgan, will join Citi as global co-head of ECM alongside Doug Adams. Alex Watkins, who …

Citi hires senior JPMorgan bankers to strengthen financing business Read More »

STOCKHOLM (Reuters) -The chief executive of Volvo Cars urged the European Union to cut its 10% tariff on American-made cars, arguing that European automakers do not need protection from U.S. competitors, in an interview with Reuters on Thursday. Brussels, along with representatives from the auto industry, has spent months trying to persuade Washington to lower …

Volvo CEO wants EU to cut ‘unnecessary’ auto tariffs to defuse Trump threat Read More »

By Jesus Calero (Reuters) -Swedish truckmaker Volvo reported higher than expected quarterly earnings on Thursday, as signs of recovery in Europe helped it offset sluggish demand in North America. Truck orders in North America have fallen more than 40% in recent months compared to last year, adding to the pressures on pricing and sentiment across …

Truckmaker Volvo counts on improving Europe to offset North America slump Read More »

By Marie Mannes STOCKHOLM (Reuters) -Volvo Cars reported a sharp decline in second-quarter operating profit on Thursday that nonetheless exceeded analyst expectations, sending shares up, though the company continues to face headwinds from tariffs and softening demand. Sweden-based Volvo Cars is the first European carmaker to release results in what analysts expect to be a …

Volvo Cars quarterly operating profit beats expectations despite tariff hit Read More »

By Maria Martinez DURBAN, South Africa (Reuters) -The head of Germany’s Bundesbank warned on Thursday that the high import tariffs U.S. President Donald Trump currently plans to impose on European goods risk wiping out even a modest recovery in Europe’s largest economy in the coming years. Germany is battling to stave off a third consecutive …

Bundesbank head says tariffs may crush hopes for German growth Read More »

MOSCOW (Reuters) -Inflation expectations among Russian households for the year ahead, an important gauge closely watched by the central bank, remained steady at 13% in July compared with June, the central bank said on Thursday.  The central bank will hold a rate-setting board meeting on July 25 and is widely expected to cut its key …

Russia’s July inflation expectations steady at 13%, supporting case for rate cut Read More »