By Giulio Piovaccari MILAN (Reuters) – Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data …
Lufthansa examines ITA Airways as finance data opened to bidders
By Zuzanna Szymanska and Francesca Landini FRANKFURT (Reuters) – Lufthansa and its partner MSC have been looking at financial data opened up by state-owned ITA Airways to see if the Italian airline would make a good strategic acquisition, the German ca…
Oil releases so far are just 9% of stocks, “can come back again if a problem” – IEA head
MILAN (Reuters) – The two oil stock releases carried out so far amount to only 9% of overall stocks, Fatih Birol, head of the International Energy Agency (IEA), said on Thursday. “We can come back again if there is a problem,” he said while speaking re…
BoE flags risk of recession and 10% inflation as it raises rates again
By David Milliken, William Schomberg and Andy Bruce LONDON (Reuters) -The Bank of England sent a stark warning that Britain risks a double-whammy of a recession and inflation above 10% as it raised interest rates on Thursday to their highest since 2009…
No messing around, central banks ramp up inflation fight
LONDON (Reuters) – In a race to get on top of surging inflation, central banks in the United States, Britain and Australia, all jacked up interest rates this week. Stubbornly high inflation also prompted Iceland to lift rates by one percentage point on…
Pound skids 2% on BoE recession warning, biggest daily fall since 2020
LONDON (Reuters) -Britain’s pound and government bond yields fell sharply on Thursday, after the Bank of England raised interest rates to their highest since 2009 but warned that the economy was at risk of recession. By 1205 GMT, sterling was down 2% a…
Fighting traps civilians in Ukraine plant as Putin urges defenders to disarm
By Alessandra Prentice and Natalia Zinets ZAPORIZHZHIA, Ukraine (Reuters) -Scores of Ukrainian civilians including women and children were trapped on Thursday in underground bunkers at a steel works in the ruined port city of Mariupol, although Preside…
Moncler bets on store expansion, footwear to drive growth
By Claudia Cristoferi and Silvia Aloisi MILAN (Reuters) -Italian luxury group Moncler said on Thursday it would open, refurbish or relocate 200 stores in the next three years, mostly in Asia, and diversify into shoes and clothes for warmer weather. The…
Czech central bank raises rates by bigger-than-expected 75 bps to 5.75%
PRAGUE (Reuters) -The Czech central bank raised its main interest rate by 75 basis points on Thursday to 5.75%, the highest point since 1999, as inflation soared on global price shocks combined with a tight domestic labour market. The hike was bigger t…
Euro zone yields extend fall after BoE flags recession risk
By Yoruk Bahceli and Stefano Rebaudo (Reuters) – Euro zone government bond yields extended their decline on Thursday after the Bank of England slashed its forecast for the British economy in 2023. The Bank of England raised interest rates to their high…