BERLIN (Reuters) – Volkswagen’s premium brands Audi and Porsche have decided to join Formula 1, said Volkswagen Chief Executive Herbert Diess on Monday. He added that Porsche’s preparations to enter the highest class of international motor racing were a little more concrete. (Reporting by Jan Schwartz, Writing by Miranda Murray; Editing by Paul Carrel)
BRUSSELS (AP) — Poland urged its European Union partners on Monday to unite and impose sweeping sanctions on Russia’s oil and natural gas sectors over the war in Ukraine, and not to cave in to pressure to pay for their gas in Russian rubles. The appeal came as EU ministers met in Brussels to discuss…
By Danilo Masoni MILAN (Reuters) – Shares fell and the dollar held near highs in holiday-thinned trading on Monday, as concerns about economic growth lingered ahead of an expected U.S. rate hike this week and after data showed COVID-19 lockdowns slowed China’s factory activity. MSCI’s benchmark for global stocks was down by 0.3% by 0811…
LONDON (Reuters) – Euro zone manufacturing output growth stalled last month as factories struggled to source raw materials while demand took a knock from steep price increases and fears about the economic outlook, a survey showed. Russia’s invasion of Ukraine, coupled with renewed COVID-19 related lockdowns in China, have exacerbated supply chain bottlenecks and left…
By Jamie Freed SYDNEY (Reuters) -Qantas Airways will fly non-stop from Sydney to London after ordering a dozen special Airbus jets, charging higher fares in a multi-billion dollar bet that fliers will pay a premium to save four hours on the popular route. To be launched late in 2025, the flights will use A350-1000 aircraft…
BERLIN (Reuters) – The number of German companies fearing for their survival has fallen significantly, despite the economic risks posed by the war in Ukraine, a survey showed on Monday. The Ifo institute said that 7.1% of the nearly 8,500 companies surveyed feel their existence is threatened, almost half the proportion found in the last…
(Reuters) – MGM Resorts International on Monday offered to acquire Swedish online gaming company LeoVegas AB for about $607 million, paving the way for the U.S. casino operator to expand its presence in Europe. MGM floated a recommended public tender offer for 61 crowns ($6.20) in cash per share, which represents a 44.2% premium to…
COPENHAGEN (Reuters) – The world’s largest wind turbine maker Vestas slashed its operating profit margin outlook for the year due to the war in Ukraine, it said late on Sunday, when it also reported a deeper-than-expected operating loss for the first quarter. (Reporting by Stine Jacobsen; Editing by Tom Hogue)
TOKYO (Reuters) – Japan’s consumer inflation will continue to face upward pressure later this year from rising electricity bills and food prices, as the recent surge in commodity prices hits the economy with a lag, the central bank said on Monday. As Japanese utilities set electricity bills based on the average import cost several months…
By Scott DiSavino, Arathy Somasekhar and Brijesh Patel (Reuters) – U.S. natural gas production growth is waning at the same time many countries are looking for new suppliers to help break their dependence on Russian gas after Moscow’s invasion of Ukraine. The United States is already the world’s largest producer of natural gas. But the…
