By Kalea Hall DETROIT (Reuters) -General Motors is investing $888 million at a New York propulsion plant to increase engine production and build a next-generation V8, the company said on Tuesday. The investment at the Tonawanda propulsion plant in Buffalo, New York, first reported by Reuters, is a shift from a previously announced $300 million …
GM to invest $888 million for engine production at New York facility Read More »
By Foo Yun Chee BRUSSELS (Reuters) -Adult content platforms Pornhub, Stripchat, XNXX and XVideos will be investigated for failing to comply with rules to protect children, EU regulators said on Tuesday, in a move that could lead to fines of as much as 6% of their global annual turnover. The European Commission said the companies …
Pornhub, Stripchat, XNXX, XVideos investigated in EU over child protection Read More »
MEXICO CITY (Reuters) -Spanish bank BBVA plans to invest more than 100 billion pesos ($5.19 billion) in Mexico through 2030, it said in a statement on Tuesday. The investment is part of BBVA’s long-term bet on the Latin American nation, the firm added. “The 100 billion pesos that we are announcing is not only an …
BBVA to invest $5.2 billion in Mexico through 2030 Read More »
(Reuters) -Citigroup said on Tuesday its Polish unit has agreed to sell its consumer banking business in the country to Velobank, as the Wall Street giant nears the end of a years-long effort to exit non-core retail banking markets. The third-largest U.S. lender added that while the transaction is financially immaterial to the company, it …
Citi’s Polish unit to sell consumer banking business to Velobank Read More »
By Victoria Waldersee, Susan Heavey and Danial Azhar BERLIN/WASHINGTON/KUALA LUMPUR (Reuters) -European Union officials have asked the EU’s leading companies and CEOs for details of their U.S. investment plans, according to two sources familiar with the matter, as Brussels prepares to advance trade talks with Washington after U.S. President Donald Trump backtracked on threatened steep …
Brussels seeks companies’ US spending plans as Trump hails move toward talks Read More »
By Jesús Aguado MADRID (Reuters) -The Spanish government will examine BBVA’s hostile takeover offer for Sabadell, the economy minister said on Tuesday, a rare step that could mean the bank must agree to more conditions before its bid is approved. Madrid has so far opposed the transaction, valued at over 14 billion euros, because of …
Spain’s government puts BBVA’s bid for Sabadell under scrutiny Read More »
MILAN (Reuters) -UniCredit Chief Executive Andrea Orcel ruled out on Tuesday the bank could make a play for Assicurazioni Generali, Italy’s biggest insurer in which it has recently acquired 6.7%. The stake, which UniCredit has called a financial investment, the same description it has used for its 28% Commerzbank holding, has raised speculation about Generali’s …
By John Revill BASEL, Switzerland (Reuters) -Swiss inflation could enter negative territory in the coming months, but this will not necessarily trigger a reaction by the Swiss National Bank, SNB Chairman Martin Schlegel said on Tuesday. The SNB will not be guided by inflation data for individual months, but instead look at maintaining price stability …
Swiss inflation could go negative, SNB focused on medium term, Schlegel says Read More »
(=) By Nathan Vifflin AMSTERDAM (Reuters) – French semiconductor materials supplier Soitec on Tuesday withdrew forecast targets for its new fiscal year and the medium term, following a multi-year slump in automotive and industrial chip demand. “Given the current reduced visibility and market uncertainties, the group withdraws any guidance, whether related to all or part …
Wafer supplier Soitec withdraws mid-term, year-ahead guidance, changes CFO Read More »
By Marleen Kaesebier (Reuters) -European companies are expected to report an average 2.4% rise in first-quarter earnings, LSEG I/B/E/S data showed on Tuesday, better than the 2.3% rise analysts had estimated a week ago. Of the 278 STOXX 600 companies that have reported, 59% have beaten expectations for the period. Consensus revenue growth forecasts stayed …
European first-quarter corporate profits seen rising an average 2.4% Read More »
