BERLIN (AP) — German businesses and public institutions should heat their offices no higher than 19 degrees Celsius (66.2 degrees Fahrenheit) this winter to help reduce the country’s consumption of natural gas, Germany’s economy minister said Saturday. Germany, the European Union’s biggest economy, is quickly trying to wean itself off using natural gas from Russia…
FRANKFURT (Reuters) – Anshu Jain, the former Deutsche Bank AG co-chief executive officer, died early on Saturday at the age of 59 after a long illness, the bank said. “Anshu Jain played a key role in expanding Deutsche Bank’s position in our global business with companies and institutional investors,” said Alexander Wynaendts, chairman of the…
Shipping companies prepared to halt the transport of goods on the Rhine as water levels in Germany’s biggest river neared a critically low point Saturday. An ongoing drought affecting much of Europe has lowered rivers such as the Rhine, preventing large ships with heavy loads from passing key waypoints and forcing them to use smaller…
PROVIDENCE, R.I. (AP) — A major economic bill headed to the president has “game-changing” incentives for the nuclear energy industry, experts say, and those tax credits are even more substantial if a facility is sited in a community where a coal plant is closing. The transformative bill provides the most spending to fight climate change…
By Andrea Shalal KYIV (Reuters) – Securing a new $5 billion loan from the IMF would help reassure Ukraine’s other creditors that the war-torn country’s macroeconomic situation was under control, President Volodymyr Zelenskiy’s chief economic adviser told Reuters on Friday. Fresh financing from the International Monetary Fund for around 18 months could serve as the…
ZURICH (Reuters) – The United States and Switzerland can move towards free trade between their countries with sectoral deals and they are working on facilitating business in the pharmaceutical sector, the U.S. ambassador to Switzerland told the Tages Anzeiger newspaper. Scott Miller said that in the last round of trade negotiations between the two countries,…
(Reuters) – Brazilian power company Eletrobras on Friday reported its second-quarter net income fell 45%, hit by the provision for losses in investments. In the first earnings report since its privatization, Centrais Eletricas Brasileiras SA, as the company is formally known, posted a net income of 1.4 billion reais ($276.03 million). Adjusted earnings before interest,…
By James Pearson LAS VEGAS (Reuters) – A digital vulnerability in the computer systems used on some Boeing Co aircraft that could have allowed malicious hackers to modify data and cause pilots to make dangerous miscalculations has been fixed, security researchers said on Friday. Older versions of a digital tool used to calculate landing…
MOSCOW (AP) — Russia’s gross domestic product contracted 4% in the second quarter of this year, the first full quarter since Russia sent troops into Ukraine, the state statistical service said Friday. Russia was hit with a wide array of sanctions following its move into Ukraine on Feb. 24, including sanctions that cut off some…
(Reuters) -Global rating agencies S&P and Fitch on Friday lowered Ukraine’s foreign currency ratings to selective default and restricted default as they consider the country’s debt restructuring as distressed. Earlier this week, Ukraine’s overseas creditors backed the country’s request for a two-year freeze on payments on almost $20 billion in international bonds. The move will…
