Reuters UK Business

Energy storage boom drives battery shift, leaving nickel, cobalt behind

21 May 2025

By Eric Onstad LONDON (Reuters) -When Fidra Energy acquired a 55-acre (22-hectare) patch of northern England countryside in 2023, its plan to transform it into a 1.45 gigawatt energy storage facility – Europe’s largest once completed – was far from a done deal. “We were struggling to make the economics work,” Chris Elder, the Edinburgh-based …

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Europe gains traction amid doubts over US assets, global money managers say

21 May 2025

By Iain Withers and Sinead Cruise LONDON (Reuters) -Asset managers at Goldman Sachs and JPMorgan are fielding more investor enquiries about the resilience of U.S. assets and helping clients move more money to Europe ahead of more potential trade-related market turmoil, executives said. The clock is ticking on President Donald Trump’s 90-day pause on “reciprocal” …

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Greek gas supplier DEPA signs deal to build power plant in Larissa

21 May 2025

ATHENS (Reuters) -Greek gas supplier DEPA Commercial has signed an agreement for a 600 million-euro ($680 million) project to build a gas-fired power plant in Larissa, it said on Wednesday. Cyprus-based company Clavenia, which is owned by an Israeli real estate group, and two Greek companies, energy and telecommunications provider Volton and private equity EUSIF …

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Russia’s weekly inflation edges up to 0.07%, official data shows

21 May 2025

MOSCOW (Reuters) -Russia’s weekly inflation, a figure closely watched by the central bank, edged up to 0.07% after a 0.06% rise in the previous week, according to statistical data released on Wednesday. The increase brought price growth to 3.27% since the start of the year. The central bank, which forecasts inflation at 7.0-8.0% this year, …

Russia’s weekly inflation edges up to 0.07%, official data shows Read More »

Russia’s Gazprom Neft Q1 net profit falls 42% y/y to $1.2 billion

21 May 2025

MOSCOW (Reuters) -Gazprom Neft, the oil arm of Russian energy giant Gazprom, said on Wednesday its first-quarter net profit dropped 42% to 92.6 billion roubles ($1.2 billion), hurt by declining sales and foreign exchange-related losses. The company said its sales in the quarter declined by almost 9% to 890.9 billion roubles. “The dynamics of the …

Russia’s Gazprom Neft Q1 net profit falls 42% y/y to $1.2 billion Read More »

Italy’s CDP, Macquarie at odds over future of loss-making Open Fiber, sources say

21 May 2025

By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Italian state lender CDP and its partner Macquarie are at odds over the future of their loss-making fibre network operator Open Fiber, sources familiar with the matter told Reuters. The standoff risks slowing down efforts by Italy’s conservative government to combine Open Fiber with larger rival FiberCop, …

Italy’s CDP, Macquarie at odds over future of loss-making Open Fiber, sources say Read More »

Unexplained components found in Denmark’s energy equipment imports, industry group says

21 May 2025

COPENHAGEN (Reuters) -Unexplained electronic components have been found in imported equipment for Denmark’s energy supply network, industry group Green Power Denmark said on Wednesday, adding that an investigation was underway to learn more. The findings coincide with an increased focus internationally on potential security vulnerabilities in critical infrastructure such as energy grids. “It concerns printed …

Unexplained components found in Denmark’s energy equipment imports, industry group says Read More »

Germany readying 1.5% of GDP for dual military use infrastructure, says Merz

21 May 2025

BERLIN (Reuters) -Germany plans to allocate 1.5% of its economic output to infrastructure that has military uses, Chancellor Friedrich Merz said on Wednesday. Speaking at a construction industry event, Merz said the plans meant military spending would go beyond the 3.5% allocation to military procurement it had signed up to under NATO rules. “On the …

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Sabadell CEO does not expect alternative to BBVA’s bid

21 May 2025

By Jesús Aguado MADRID (Reuters) -Sabadell bank does not expect any other offer to a merger proposal made by its bigger rival BBVA, its Chief Executive Officer Cesar Gonzalez-Bueno said on Wednesday. Last week, another Spanish bank Abanca dismissed a report in newspaper Expansion that it was considering a deal with Sabadell. Unicaja also said …

Sabadell CEO does not expect alternative to BBVA’s bid Read More »

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