MOSCOW (Reuters) -The Russian government said on Friday it had agreed to support the struggling coal industry, including by deferring tax payments, as well as by limiting dividends and bonuses to top management. Russian coal producers face a number of challenges, including international sanctions over Ukraine. Russia’s coal exports fell 6% last year, pressured by …
Russia to provide state support for ailing coal industry Read More »
BERLIN (Reuters) – Germany’s IG Metall union sees around a fifth of jobs at Thyssenkrupp at risk, a senior official was quoted as saying on Friday, following the conglomerate’s recent plans to turn into a holding company. On Monday, Thyssenkrupp said it would pursue plans to sell minority stakes in three of its five divisions, …
Thyssenkrupp putting 20,000 jobs at risk in overhaul, says union Read More »
By Francesca Landini and Valentina Za MILAN (Reuters) – Global commodity trader Gunvor and State Oil Company of Azerbaijan (SOCAR) are neck and neck in the race to buy oil refiner Italiana Petroli, three sources close to the matter said on Friday, as an end-May deadline to submit final offers looms. Abu Dhabi-based Bin Butti …
Gunvor, SOCAR neck and neck to buy refiner Italiana Petroli, sources say Read More »
MOSCOW (Reuters) – First-quarter net profit of Russia’s oil pipeline monopoly Transneft declined by around 15% to 80.3 billion roubles ($1 billion) as revenue shrank, the company said. Profit in the period for Transneft, which operates Russia’s 67,000 kilometre-long (42,000 miles) oil pipeline network, also declined, to 84.2 billion roubles from 98.2 billion roubles in …
Russia’s Transneft says Q1 net profit down 15% to $1 billion Read More »
ROME (Reuters) -Francesco Gaetano Caltagirone, a leading shareholder in both Mediobanca and Generali, on Friday expressed a negative view on the Italian bank’s proposed acquisition of Banca Generali, the insurer’s private banking unit. Caltagirone was speaking on the sidelines of the presentation of the Bank of Italy’s annual report, where Governor Fabio Panetta said bank …
Mediobanca shareholder Caltagirone sees no value in Banca Generali bid Read More »
By Rachel More and Balazs Koranyi BERLIN (Reuters) -German inflation eased further in May, bringing it closer to the European Central Bank’s 2% target and bolstering the case for an interest rate cut next week, but economic turmoil and stubbornly high core inflation may overshadow hopes for a lasting recovery. Inflation slowed to 2.1% from …
German inflation nears ECB target in May but challenges remain Read More »
By Nell Mackenzie LONDON (Reuters) -Hedge funds that trade on big macroeconomic market swings have become a top pick for investors, according to a Societe Generale survey of 322 firms, against a backdrop of global markets roiled by tariff uncertainty and stop-start trade wars. Half of the respondents polled said they would consider putting their …
Hedge fund investors want managers who trade macro, says SocGen survey Read More »
LONDON (Reuters) -Europe’s benchmark STOXX 600 index trimmed its gains on Friday after U.S. President Donald Trump said China had violated an agreement on tariffs with the United States. The STOXX 600 dropped after Trump’s post on Truth Social, but was last up 0.2% on the day. A measure of European volatility spiked and was …
European shares trim gains after Trump comments on China tariffs Read More »
MOSCOW (Reuters) -Russian energy giant Gazprom’s first-quarter net income edged up around 1% compared with the same period last year to 660.4 billion roubles ($8.4 billion), with sales and the rouble exchange rate also up, the company said on Friday. Gazprom said the strengthening of the rouble generated a gain thanks to a revaluation of …
Russia’s Gazprom says Q1 net profit edges up to $8.4 billion Read More »
By Jan Strupczewski BRUSSELS (Reuters) -The European Union has gained leverage in trade talks with the United States after a U.S. court cast doubt on the legality of Washington’s “reciprocal” tariffs, EU officials said on Friday. A U.S. federal appeals court temporarily reinstated President Donald Trump’s tariffs on Thursday, a day after a U.S. trade …
EU gains leverage in trade talks as US court casts doubt on tariffs, EU officials say Read More »
