BERLIN (Reuters) – Germany’s Deutsche Bahn on Thursday offered a wage increase of up to 12% to employees and a separate payment of 2,850 euros ($3,137) to cushion the effect of rising inflation, the latest offer by the railways operator to avert strikes. The wage increases would be rolled out over 24 months. The offer …
Deutsche Bahn offers 12% wage increase in bid to avert strikes Read More »
By Andy Bruce LONDON (Reuters) – British lenders including Nationwide scrambled to raise mortgage rates on Thursday and smaller players temporarily withdrew products, in response to soaring market interest rates following unexpectedly strong inflation data this week. The moves had echoes of a more severe temporary shutdown of the mortgage market in late September and …
Soaring UK borrowing costs force lenders to hike mortgage rates Read More »
ROME (Reuters) – Italian Foreign Minister Antonio Tajani saw his French counterpart in Rome on Thursday, looking to patch up ties weeks after he cancelled a meeting following blunt criticism from Paris over Rome’s migration policy. Tajani and Catherine Colonna kissed each other on the cheek and exchanged warm words, both seemingly eager to put …
Italy and France look to make amends after political spat Read More »
By Foo Yun Chee BRUSSELS (Reuters) -U.S. company Viasat has won unconditional EU antitrust approval to acquire British satellite rival Inmarsat for $7.3 billion, the European Commission announced on Thursday, adding that the merger would not raise competition concerns. The companies, which compete with market leaders Panasonic and Intelsat in the market for wi-fi on …
Viasat wins unconditional EU antitrust approval to acquire Inmarsat Read More »
FRANKFURT (Reuters) – European Union authorities should curb leveraged bets on crypto assets by introducing limits for investment funds, exchanges and other firms to stop shocks in that industry from jeopardising financial stability elsewhere, an EU watchdog said on Thursday. It was one of several recommendations made by the European Systemic Risk Board, which ranged …
EU watchdog calls for curbing leverage in crypto trading Read More »
(Reuters) -Cineworld expects to emerge from Chapter 11 bankruptcy protection in July, the British cinema chain operator said on Thursday, adding that its proposed debt restructuring has the backing of most of its lenders. The world’s second largest movie theatre chain operator after AMC Entertainment filed for U.S. bankruptcy protection in September hoping to restructure …
Cineworld eyes bankruptcy exit in July as most lenders back restructuring plan Read More »
ATHENS (Reuters) -Cyprus wants more direct involvement of the European Union in attempts to end the decades-old division of the island, its President Nikos Christodoulides said on Thursday. Cyprus was split in a Turkish invasion in 1974 triggered by a brief coup engineered by the military junta then ruling Greece, and its enduring partition is …
Cyprus wants more EU involvement in reunification efforts -president Read More »
BERLIN (Reuters) – The German economy was in recession in early 2023 after household spending in Europe’s economic engine finally succumbed to the pressure of high inflation. Gross domestic product fell by 0.3% in the first quarter of the year when adjusted for price and calendar effects, a second estimate from the statistics office showed …
German economy entered recession as inflation hurt consumers Read More »
WASHINGTON (Reuters) – A group of 27 Senate Republicans on Thursday called on the Biden administration to drop its plan to drastically cut vehicle emissions through 2032 and ramp up electric vehicle sales. In a letter led by Senator Shelley Moore Capito, lawmakers said the administration plan will “effectively mandate a costly transition to electric …
Senate Republicans want EPA to drop plan to cut emissions, boost EVs Read More »
By Foo Yun Chee BRUSSELS (Reuters) – UBS on Thursday won unconditional EU antitrust approval to acquire Credit Suisse as part of a government-orchestrated rescue of its Swiss rival. The European Commission said the deal would not raise competition concerns in Europe, confirming a Reuters story earlier this month. “The combined entity will continue facing …
UBS gains EU antitrust approval to acquire Credit Suisse Read More »
