Reuters UK Business

Tesla May sales fall in big European markets ahead of new Model Y deliveries

4 Jun 2025

By Amir Orusov and Nick Carey (Reuters) -Tesla’s sales dropped for the fifth straight month in Britain, Germany and Italy in May, underscoring the challenges the electric vehicle-maker faces over CEO Elon Musk’s politics and its model line-up. Demand for the company’s new version of the Model Y – Europe’s best-selling car as recently as …

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UK’s Reeves approves $21 billion of public transport projects outside London

4 Jun 2025

By Andy Bruce MANCHESTER, England (Reuters) -British finance minister Rachel Reeves committed 15.6 billion pounds ($21.1 billion) on Wednesday towards transport projects in cities outside London that have long suffered from underinvestment. In a speech in Rochdale, northwest England, Reeves announced the first investment commitments from her June 11 Spending Review, which will set budgets …

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UniCredit drops request to suspend Rome’s terms for Banco BPM bid pending ruling

4 Jun 2025

By Valentina Za and Paolo Chiriatti ROME (Reuters) -UniCredit has dropped a request for a court to suspend government-imposed conditions on its takeover bid for rival Banco BPM pending a ruling, to ease discussions with the Italian Treasury, it said on Wednesday. Italy has invoked its “golden powers” to set the terms of UniCredit’s offer …

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EU executive starts disciplinary steps against Austria over budget deficit

4 Jun 2025

BRUSSELS (Reuters) -The European Commission started on Wednesday disciplinary steps against Austria over the country’s budget deficit that exceeds EU limits, a procedure could potentially end in fines. Austria had a budget deficit of 4.7% of GDP last year, well above the European Union’s upper limit of 3% of GDP. The excessive budget gap is …

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Thyssenkrupp Steel Europe: US tariffs have limited impact but put pressure on trade

4 Jun 2025

DUESSELDORF (Reuters) -U.S. tariffs on steel have only a limited direct effect on Thyssenkrupp Steel Europe, the company said on Wednesday, but the increase in import duties brings with it pressure on trade relations more broadly, it warned. “The company’s main sales market is in Europe and exports of steel products to the U.S. are …

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EU steps up disciplinary action against Romania over excessive deficit

4 Jun 2025

By Jan Strupczewski BRUSSELS (Reuters) -The European Commission stepped up on Wednesday the EU’s disciplinary action against Romania over the country’s large budget deficit, opening the possibility of freezing some EU funds for the country next year if there is no improvement. Romania had a budget deficit of 9.3% of GDP last year, more than …

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Sterling edges up, UK avoids higher US metals tariffs

4 Jun 2025

By Johann M Cherian (Reuters) -Sterling firmed against the dollar on Wednesday, as investors were relieved the United Kingdom was not in the crosshairs of U.S. President Donald Trump’s latest tariff escalation, while upbeat economic data also buoyed sentiment. The U.S. doubled duties on steel and aluminium imports to 50% but exempted the UK. Analysts …

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