By Victoria Waldersee BERLIN (Reuters) -Volkswagen unions and management are in the midst of talks unions say went from abysmal to controversial, as workers have accused the carmaker of failing to present a vision for the future despite assurances that a new strategy is underway. In an interview published online to workers in Volkswagen’s works …
VW, unions in fact-finding talks as carmaker develops new strategy Read More »
By Riham Alkousaa BERLIN (Reuters) -Germany is planning state guarantees for wind energy production, it said on Thursday, as part of a package of measures to boost its wind industry amid concerns from European governments and companies over Chinese firms gaining momentum in the sector. Berlin will expand the scope a KfW state bank program …
Germany moves to strengthen domestic wind power industry Read More »
By Leigh Thomas PARIS (Reuters) – France’s belt-tightening budget delivers a bigger tax hit than the government originally let on, according to new breakdowns that suggest a bigger dent in President Emmanuel Macron’s pro-business legacy. Prime Minister Michel Barnier presented a 2025 budget bill last week putting what ministers said was a 60 billion euro …
French budget packs bigger tax punch than first meets the eye Read More »
By Richa Naidu LONDON (Reuters) – Nestle on Thursday said shopper “concerns around the election” in the United States are putting further pressure on demand in its biggest market by creating consumer uncertainty. The U.S. presidential election, the most consequential vote for financial markets in an election-packed year, is weeks away and Democratic Vice President …
Nestle flags shopper uncertainty around US election Read More »
MARANELLO, Italy (Reuters) – Ferrari on Thursday unveiled its new limited edition supercar, which incorporates features from Endurance motor competitions and Formula 1 and has already sold out despite its 3.6 million euro ($3.9 million) base price tag. The hybrid butterfly-door F80 is a highlight in Ferrari’s model roll-out strategy aimed at keeping its wealthy …
(Reuters) – German agricultural group BayWa announced on Thursday the departure of its Chief Executive Officer and Chief Financial Officer amid the firm’s restructuring. CEO Marcus Poellinger is to leave the company by mutual consent at the end of October while CFO Andreas Helber is to leave at the end of March, 2025, BayWa added. …
By Sara Rossi MILAN (Reuters) – Italy faces a round of credit rating agency reviews over the next few weeks with realistic hopes of an upgrade thanks to a rapidly narrowing fiscal deficit, analysts said, although concerns about Rome’s huge debt pile remain. Markets have long seen Italy’s debt, proportionally the second largest in the …
Italy faces credit rating tests with more hope than fear Read More »
LONDON (Reuters) – The European Central Bank cut interest rates for the third time this year on Thursday, pointing out that inflation in the euro zone is now increasingly under control and the economic outlook has worsened. The euro initially rose following the rate decision, but fell back following stronger-than-expected U.S. data. It was last …
By Jonathan Spicer and Ece Toksabay ISTANBUL (Reuters) – Turkey’s central bank held interest rates at 50% on Thursday as expected but warned that a bump in recent inflation data lifted uncertainty, in a hawkish signal that could reinforce views that policy easing won’t begin until next year. “In September, the underlying trend of inflation …
Turkey’s central bank holds rate at 50%, warns on inflation Read More »
By John Revill ZURICH (Reuters) -Swiss engineering group ABB needs to improve its performance, new Chief Executive Morten Wierod said on Thursday, after the company reported mixed third-quarter results. The maker of factory robots and fast electric chargers, whose numbers are watched closely because they give an insight into the health of the broader economy, …
ABB’s new CEO says company has work to do after mixed Q3 numbers Read More »
