(Reuters) -Renault is to sell its majority stake in carmaker Avtovaz to a Russian science institute reportedly for just one rouble with a six-year option to buy it back, leaving the door open for the French carmaker’s return. Moscow Mayor Sergei Sobyan…
Backer of stricken TerraUSD says spent reserves trying to salvage dollar peg
By Alun John HONG KONG (Reuters) -An affiliate of the company behind collapsed stablecoin TerraUSD on Monday said it had spent the bulk of its reserves trying to defend its dollar peg last week and would use what little remained to compensate some user…
Britons are trading down amid cost of living crisis – McKinsey
LONDON (Reuters) – British consumers are reacting to the cost of living crisis by trading down in both stores and products, switching from supermarkets to discounters and from branded to lower priced and private label products, a report from consultant…
UK’s Parvus hikes UniCredit stake to become Italian bank’s No. 2 investor
MILAN (Reuters) – London-based fund Parvus Asset Management has increased its holding in UniCredit to 5%, becoming the second-biggest investor in the Italian bank, data showed on Monday. A shareholder in mid-sized Italian bank UBI at the time of the In…
Greek man gets life sentence for killing British wife
ATHENS (Reuters) – A Greek man, who confessed to killing his young British wife in front of their 11-month-old child last year, was sentenced to life in prison on Monday in a case which has prompted widespread public outrage. Babis Anagnostopoulos, 34,…
Law firm Dechert, SFO to learn lessons after stinging ENRC judgment
By Kirstin Ridley LONDON (Reuters) -A former senior London lawyer breached his duty of care to his client, Kazakh miner ENRC, and the UK Serious Fraud Office (SFO) acted with “bad faith opportunism” ahead of one of Britain’s longest criminal investigat…
EU and UK need to remain in discussion over N.Ireland protocol -Michel
AMSTERDAM (Reuters) – The British government should remain in discussion with the European Union about the Northern Ireland protocol agreement, instead of unilaterally deciding to scrap it, European Council President Charles Michel said on Monday. “The…
Mariupol steelworks defenders appear to signal end of siege
By Natalia Zinets KYIV (Reuters) -The Ukrainian unit holed up beneath the Azovstal steelworks in Mariupol said on Monday its garrison was fulfilling orders to save the lives of troops, an apparent indication that the long siege there was coming to an e…
Carrefour accelerates in quick commerce with Flink, Cajoo deal
PARIS (Reuters) – European quick commerce group Flink is buying French rival quick commerce firm Cajoo and French retailer Carrefour, an early investor and exclusive retail partner of Cajoo, will become a direct Flink shareholder and partner, the compa…
Portugal Millennium bcp’s quarterly profit doubles, despite losses in Poland
LISBON (Reuters) – Portugal’s largest listed bank, Millennium bcp, posted on Monday a 95% rise in first-quarter net profit, driven by robust income at home, despite losses at its Polish subsidiary due to heavy provisions for foreign currency loans. The…