By Tom Sims and Matthias Inverardi FRANKFURT (Reuters) -Deutsche Bank CEO Christian Sewing on Thursday called 2025 a “year of reckoning” for Germany’s largest bank as it faces a deadline to meet ambitious targets on costs and profitability. The bank’s management and investors were facing off at Deutsche’s annual general meeting as the bank enters …
Deutsche Bank CEO calls 2025 a ‘year of reckoning’ Read More »
By Andy Bruce MANCHESTER, England (Reuters) – A downturn for British firms eased in May despite a darkening picture for manufacturers who cut jobs at one of the fastest rates since the global financial crisis almost 20 years ago, according to a survey published on Thursday. The S&P Global UK Composite Purchasing Managers’ Index (PMI), …
UK business downturn eases despite worsening factory woes, PMI shows Read More »
(Reuters) – The European Union is open to extending a deal which allows the duty-free import of U.S. lobsters as part of a broader package aimed at removing U.S. President Donald Trump’s tariffs, the Financial Times reported on Thursday, citing two officials. The EU’s current regulation eliminating customs duties for fresh and frozen lobsters from …
EU open to extending lobster deal in package on Trump tariffs, FT reports Read More »
By Matthias Inverardi (Reuters) -Evonik Industries aims to generate additional 1 billion euros ($1.13 billion) of core profit by 2027, compared to 2023, as the German chemicals group implements its new strategic setup. This increase will come from both business growth and savings, Evonik said in a statement ahead of its investor day on Thursday. …
Evonik targets 1 billion euro profit boost by 2027 through growth and savings Read More »
By Philip Blenkinsop BRUSSELS (Reuters) -The European Parliament voted on Thursday to impose prohibitive tariffs on fertilisers and certain farm produce from Russia and its ally Belarus to prevent a potential threat to EU food security and limit Russian funds for its war against Ukraine. Tariffs for certain nitrogen-based fertilisers will rise over three years …
EU lawmakers back huge tariffs for Russia, Belarus fertiliser Read More »
By Sarah Young LONDON (Reuters) -British airline easyJet said on Thursday it was seeing strong demand for flights and holidays, and current summer bookings were tracking ahead of last year, giving it confidence in meeting annual profit forecasts. EasyJet is the latest European airline to provide reassurance that consumer demand for travel remains strong despite …
EasyJet confident on summer demand as bookings build Read More »
By Samuel Indyk LONDON (Reuters) -The British pound dipped slightly against the dollar but remained close to its highest level since 2022 reached the day before as hot inflation and improving relations with Europe and the U.S. continued to support the currency. The pound was last down 0.1% against the dollar at $1.3399, having touched …
Pound holds near three-year high on trade optimism Read More »
BUCHAREST (Reuters) -An “optimistic, realistic” budget deficit target for Romania in 2025 is 7.5% of economic output, President-elect Nicusor Dan said on Thursday, adding that preliminary talks on the 2025 and 2026 budgets do not include tax increases. Romania ran a deficit of 9.3% of output in 2024. Failure to quickly enforce credible measures to …
Realistic Romania 2025 budget deficit target is 7.5% of GDP, president-elect says Read More »
FRANKFURT (Reuters) -The German economy is likely to stagnate again this quarter as U.S. tariffs curb exports while Berlin’s new spending plans won’t support growth until next year, the Bundesbank said on Thursday. Global trade tensions are adding to long-standing problems in Germany such as high energy prices and an industry that struggles to keep …
German economy stalling as US tariffs curb exports, Bundesbank says Read More »
LONDON (Reuters) -British manufacturers suffered a sharp contraction in orders and output this month, the Confederation of British Industry said, chiming with another closely-watched business survey published earlier on Thursday. The CBI’s monthly balance for manufacturing new orders fell in May to -30 from -26 in April, the weakest reading since January. The report followed …
UK factory woes deepen in May as new orders ebb, CBI survey shows Read More »
