MADRID (Reuters) -Spain’s Iberdrola has appointed the chief of its U.S. subsidiary Avangrid, Pedro Azagra Blazquez, as new group chief executive, replacing Armando Martinez Martinez, who resigned as CEO, the power utility company said in a statement on Tuesday. The change comes as Europe’s largest utility has expanded its focus on the United States, which …
Iberdrola appoints chief of US business as new CEO Read More »
BERLIN (Reuters) -Continental’s automotive division, set to go public in September under the name Aumovio, hopes to boost sales by 22% in the long term as it sharpens its focus on technologies that add value to the carved-out company, it said on Tuesday. Continental said Aumovio is targeting a long-term increase in sales to over …
Continental’s Aumovio aims for higher sales in long term after IPO Read More »
By Maria Martinez BERLIN (Reuters) -Germany will boost defence spending to 3.5% of gross domestic product by 2029, a hefty, and quick, increase from a 2% NATO quota that it only achieved for the first time in three decades in 2024. Here is how Germany will achieve its defence spending goal: DEFENCE FUND Days after …
Factbox-How will Germany pay for rapid rise in defence spending? Read More »
By William Schomberg and Suban Abdulla LONDON (Reuters) -Britain’s recent increase in inflation could prove to be a longer-lasting plateau rather than a short-term hump, and the Bank of England should be careful about reducing interest rates, BoE monetary policymaker Megan Greene said on Tuesday. “I worry about the near-term profile for inflation this year, …
Bank of England’s Greene worries about high-inflation plateau Read More »
By Paul Sandle LONDON (Reuters) -Britain’s competition regulator said it may force Google to rank businesses more fairly in search results and offer alternative services to consumers, marking the first use of expanded powers to oversee the world’s biggest tech companies. The Competition and Markets Authority (CMA) is proposing to designate Alphabet-owned Google with “strategic …
UK may compel Google to change search rankings, offer alternatives Read More »
VIENNA (Reuters) -Austrian anti-corruption and economic crime prosecutors have wrapped up their initial investigation into the collapse of the Signa property empire and filed a report so that a decision on potential prosecutions can be made, they said on Tuesday. In a statement, they said there were four new strands, including an investigation into Signa …
Austrian prosecutors say they have wrapped up initial investigation into Signa Read More »
By Giulia Segreti PARIS (Reuters) -Europe’s drive to create a satellite manufacturing champion is taking longer than planned, and debates over costs, competition policy and who might participate could continue to hamper progress despite French calls for greater urgency. Under so-called “Project Bromo”, named after an Indonesian volcano, Airbus, Italy’s Leonardo and France’s Thales are …
Europe we have a problem: shared satellite venture is still a giant leap away Read More »
By Greta Rosen Fondahn STOCKHOLM (Reuters) -H&M-backed textile recycling firm Syre will provide recycled polyester to U.S. retailers Gap and Target, it said on Tuesday, as demand for sustainable fashion grows. Several startups are developing technologies to recycle discarded clothes into new textiles amid increasing consumer demand, and with retailers keen to burnish their sustainability …
MILAN (Reuters) -Italy’s Banca Akros, the investment bank of Banco BPM, said on Tuesday that no large investors were shut out of the placement it handled in November of a 15% stake in Monte dei Paschi (MPS) on behalf of the Rome government. The Financial Times reported on Tuesday that the European Commission was examining …
Italy’s Akros denies any large investors shut out of last year’s MPS stake sale Read More »
(Corrects headline and first paragraph after Kantar issued a correction to state grocery inflation in June reached highest level since February 2024, not March 2024) By James Davey LONDON (Reuters) -British grocery price inflation rose to 4.7% for the four weeks to June 15, its highest level since February last year, dealing another blow for …
UK grocery inflation hits highest level since February 2024, says Kantar Read More »
