PARIS (Reuters) – French President Emmanuel Macron has proposed Luc Remont as EDF’s next chief executive and chairman, the Elysee presidential office said on Thursday, confirming earlier media reports. Remont, who currently acts as a top executive at S…
UK furniture retailer Made.com posts wider half-yearly loss as costs rise
(Reuters) -Made.com reported wider half-yearly losses as the British online furniture retailer struggled with higher costs and heavy discounting. British consumers have cut back on non-essential purchases such as furniture as they face a worsening cost…
Russian central bank gives legal entities green light to trade foreign shares
MOSCOW (Reuters) – The Bank of Russia on Thursday said legal entities will be permitted to buy the securities of “unfriendly” issuers, those from countries that have imposed sanctions against Moscow, without restrictions. For individuals, from Jan. 1, …
Russia says Nord Stream likely hit by state-backed ‘terrorism’
By Sabine Siebold and Charlotte Van Campenhout MOSCOW/BRUSSELS (Reuters) -Russia said on Thursday that leaks spewing gas into the Baltic Sea from pipelines to Germany appeared to be the result of state-sponsored “terrorism”, as an EU official said the …
Wall Street sell-off accelerates after brief respite
By Lawrence Delevingne (Reuters) – Investors began another cycle of selling on Thursday as the dollar barely eased its stranglehold on currency markets, recession fears sapped stocks and bonds suffered more interest rate pain. After a partial rebound o…
Maersk to slow pace of ships to save fuel as demand loses steam
By Jacob Gronholt-Pedersen and Terje Solsvik COPENHAGEN (Reuters) -Maersk will begin to slow the pace of its container ships to lower fuel costs after sailing at full speed to keep up with demand during the pandemic, its chief executive said on Thursda…
Dutch govt has no crisis plan for oil, diesel shortage, auditor says
AMSTERDAM (Reuters) – The Dutch government does not have a crisis plan in case of an oil or diesel shortage, the Netherlands’ Court of Audit said in a report on strategic reserves published on Thursday. The independent auditor’s report noted that the g…
Scale of UK’s market slide spells out home truths
By Andy Bruce and Vincent Flasseur LONDON (Reuters) – This week’s plunge in UK financial assets accelerated a longer historic decline signalling a loss of confidence among international investors that Britain may find hard to restore. Markets have been…
Siemens Gamesa to cut 2,900 jobs as part of its turnaround
MADRID (Reuters) – Wind turbine maker Siemens Gamesa plans to cut 2,900 jobs, mostly in Europe, as part of a plan to return to profitability, it said in a statement on Thursday. Two sources had told Reuters in August that the world’s largest producer o…
Sandvik to book charges of SEK 5.3 billion in third quarter
(Reuters) – Swedish metal-cutting tools and mining gear maker Sandvik said on Thursday it will book non-recurring charges of about 5.3 billion Swedish crowns ($471.56 million) in the third quarter. A capital loss of some 4.7 billion crowns stems from t…