By Sabine Siebold and Anneli Palmen DUESSELDORF (Reuters) – German arms-maker Rheinmetall is ready to greatly boost the output of tank and artillery munitions to satisfy strong demand in Ukraine and the West, and may start producing HIMARS multiple rocket launchers in Germany, CEO Armin Papperger told Reuters. He spoke days before Germany’s defence industry…
By Sriram Mani and Jayshree P Upadhyay MUMBAI (Reuters) -A $2.5 billion share sale by India’s Adani Enterprises remains on schedule at the planned issue price, the company told Reuters on Saturday, while sources said bankers were considering changes due to a market rout in the group’s shares. Bankers on the deal were considering extending…
By Silvia Aloisi and Mimosa Spencer PARIS (Reuters) – French luxury goods group Kering has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. At Gucci, he will be tasked with reviving the fortunes of a brand that accounted for two-thirds of…
By Jonathan Stempel NEW YORK (Reuters) – Lawyers for Sam Bankman-Fried on Saturday urged a U.S. judge not to ban the indicted FTX cryptocurrency executive from communicating with former colleagues as part of his bail, saying prosecutors “sandbagged” the process to put their client in the “worst possible light.” The lawyers were responding to a…
FRANKFURT (Reuters) – Ford executives have offered to hold talks with labour representatives over planned structural changes at the U.S. carmaker’s Cologne plant and other German sites but no concrete proposals have been put forward, a shop steward said on Saturday. Speaking at a media briefing in Cologne, the Ford site’s works council head Benjamin Gruschka said…
BEIJING (Reuters) – China’s cabinet said on Saturday it would promote a consumption recovery as the major driver of the economy and boost imports, state broadcaster CCTV reported, at a time of cooling global demand as major economies teeter on the brink of recession. At a meeting chaired by Premier Li Keqiang, China’s state council…
FRANKFURT (Reuters) – Bayer investor Deka has called for CEO Werner Baumann to be replaced ahead of his scheduled departure, adding to mounting pressure on the German drugmaker. “Bayer needs a new strategic positioning, which cannot be credibly accomplished under Werner Baumann,” Ingo Speich, head of sustainability and corporate governance at Deka, told the Frankfurter…
LONDON (Reuters) – British regional airline Flybe has ceased trading for the second time in three years, cancelling all flights to and from the United Kingdom, it said on Saturday. A statement on Flybe’s website said the airline, which operated scheduled services from Belfast, Birmingham and Heathrow across the UK and to Amsterdam and Geneva,…
PARIS (Reuters) – French luxury giant Kering appointed Sabato de Sarno as creative director of its star brand Gucci, it said on Saturday. De Sarno began his career at Prada in 2005, moving to Dolce & Gabbana, before joining Valentino in 2009, where he held several positions before being appointed fashion director overseeing both men’s…
By Kantaro Komiya TOKYO (Reuters) -Japan is considering relaxing controls on exports to South Korea as its president, Yoon Suk-yeol, seeks to improve ties amid a strained East Asian security environment, the Sankei newspaper reported on Saturday. Japan will decide whether to ease the curbs on shipping high-tech materials, which it imposed in 2019 over…
