BERLIN (AP) — German lawmakers on Thursday approved a major package of reforms aimed at boosting the production of renewable power, as Chancellor Olaf Scholz warned that the country has for too long relied on energy supplies from Russia. The government unveiled its 600-page “Easter package” in April, less than two months after Russia’s invasion…
By Elvira Pollina ROME (Reuters) -Telecom Italia (TIM) could cut more than 9,000 jobs by 2030 and is ready to offload its fixed network business under a plan that would reshape the debt-laden former telecoms monopoly. Italy’s biggest telecoms company is saddled with 23 billion euros ($24 billion) of net debt while contending with shrinking…
BERLIN (Reuters) – Lufthansa staff have called on the German flag carrier to end its “cost-cutting craziness”, accusing the airline of mismanagement and contributing to the recent chaos at airports by laying off too many workers. In a letter to the supervisory board seen by Reuters on Wednesday, staff representatives said there are too few…
By Stefano Rebaudo (Reuters) -A slight pullback in the dollar offered the euro some respite, allowing it to edge away from two-decade lows reached this week after surging energy prices fanned recession fears. Risky assets, including the euro, managed gradual gains on Thursday as investors grappled with the risks of a recession and a potential…
BEIJING (Reuters) – The trade and economic teams of China and the United States agreed to maintain close communication following virtual talks between Chinese Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen, China’s commerce ministry said on Thursday. “China always opposes the trade protectionism such as the Section 301 investigation and urges the…
A look at the day ahead in markets from Dhara Ranasinghe. Whoever coined the phrase “king dollar” certainly had good reason for doing so and currency trading this week only confirms that the epithet holds true. With recession risks running high, the greenback appears to be an ultimate safe-haven for investors. And the casualties of…
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – Sri Lanka’s central bank raised key interest rates to the highest in two decades on Thursday to bring down record inflation, despite the country wilting under a devastating economic crisis. With foreign exchange reserves at a record low, the island nation is struggling to pay for…
BEIJING (AP) — Asian stock markets followed Wall Street higher Friday after two Federal Reserve officials said the U.S. economy might avoid a recession and news reports said China might boost construction spending to stimulate its struggling economy. Shanghai, Tokyo, Hong Kong and Sydney advanced for a second day. Oil prices declined but stayed above…
JAKARTA, Indonesia (AP) — Foreign ministers from the Group of 20 leading rich and developing nations are gathering in Indonesia’s resort island of Bali for talks bound to be dominated by the conflict in Ukraine despite an agenda focused on global cooperation and food and energy security. The one-day gathering will take place on Friday…
(Reuters) -Drugmaker Merck & Co is in advanced talks to buy cancer-focused biotech company Seagen Inc in a deal that could be worth roughly $40 billion or more, the Wall Street Journal reported on Wednesday. The companies are discussing a price above $200 a share for Seagen, the report said, citing people familiar with the…
