By Marleen Kaesebier LUCERNE, Switzerland (Reuters) -Swiss watch sellers in Lucerne have endured a tough three months since U.S. President Donald Trump piled pressure on the luxury business with the threat of hefty tariffs, reducing interest from tourists who flock to the city in part to shop for watches. Reuters spoke with over a dozen …
Trump tariffs give watch sellers a hard time in Swiss hub Read More »
A look at the day ahead in European and global markets from Rocky Swift U.S. President Donald Trump’s assertion that his latest tariff deadline was “firm, but not 100% firm” was all Asian share markets needed to stage a weak rally. A July 9 date to secure trade deals with the United States was reset …
By Amir Orusov (Reuters) -Europe’s car industry could return to producing 16.8 million cars a year, equalling its post-2008 crisis peak, if the European Union maintains its 2035 clean cars target and implements policies to support the transition, a study published by campaign group Transport & Environment showed on Tuesday. Conversely, deploying no industrial strategy …
Abandoning EU’s 2035 zero-emission car target would risk 1 million jobs, study says Read More »
By Jonathan Stempel NEW YORK (Reuters) -UBS must face two lawsuits by investors who said the former Credit Suisse defrauded them prior to its March 2023 demise with false and misleading statements about its financial condition, a U.S. judge ruled on Monday. U.S. District Judge Colleen McMahon in Manhattan said Core Capital Partners may sue …
UBS must face US investor litigation over Credit Suisse demise Read More »
BRUSSELS (Reuters) -The European Union will not receive a letter from the United States setting out higher tariffs, EU sources familiar with the matter told Reuters on Monday, and is eyeing possible exemptions from the U.S. baseline levy of 10%. U.S. President Donald Trump began informing, in a wave of letters, a range of trading …
EU avoids US tariff letter, eyes concessions, EU sources say Read More »
By Pooja Menon and Katha Kalia (Reuters) -Dow will shut down three upstream plants in Europe and cut around 800 jobs in response to structural challenges in the region, the chemicals company said on Monday, sending its shares down 2.5% in morning trade. The company said the shutdowns will remove higher-cost, energy-intensive portions of Dow’s …
Dow to close three European chemical plants, cut 800 jobs Read More »
PARIS (Reuters) -Luxury goods group LVMH has named longtime executive Michael Burke, one of CEO Bernard Arnault’s most trusted advisers, as head of LVMH Americas, the company’s unit for North and South America, Arnault said in a memo to staff on Monday. Burke, 68, has held top management positions at Dior, Fendi, Bulgari and Louis …
LVMH veteran Michael Burke to head US and other operations Read More »
DUESSELDORF, Germany (Reuters) -Germany’s antitrust regulator has dropped an investigation into alleged anti-competitive conduct at the nation’s largest postal services group DHL after the company cut ownership ties with a competitor in the handling of letters for companies. The Federal Cartel Office’s two-year probe focused on so-called mail consolidation, where DHL’s Deutsche Post InHaus Services …
German antitrust watchdog drops probe into DHL’s corporate mail consolidation Read More »
By Kate Abnett BRUSSELS (Reuters) -The European Union will develop rules for “nature credits” that pay farmers and foresters to take care of ecosystems, in an attempt to make this work more economically beneficial, the European Commission said on Monday. The EU is hunting for ways to increase funding for protecting the environment, without further …
EU looks to ‘nature credits’ to fill green funding gap Read More »
MILAN (Reuters) -A&O Shearman said on Monday that Diego Esposito had joined its Milan team as a partner for leveraged finance, an area the law firm has been working on strengthening to widen its offer on private capital transactions. “Diego’s arrival is an important step of our growth strategy and reflects our ambition to play …
Law firm A&O Shearman hires former Linklaters partner Esposito for leveraged finance Read More »
