By Helen Reid LONDON (Reuters) – IKEA stores owner Ingka Group will spend 2 billion euros ($2.2 billion) expanding in the United States over the next three years, its biggest investment in a single country, in a bet to win American customers as other big-box retailers close stores. Sweden’s IKEA, which opened its first U.S….
LONDON (Reuters) -Britons starting new private-sector housing tenancies spent an average of 26.8% of their income on rent in March, up from 26.6% a year earlier and 25.0% in March 2019, according to figures released by the Office for National Statistics on Thursday. “Rent is now less affordable than it was in 2019; however, it…
(Reuters) – Michael Schumacher’s family are planning legal action against a German weekly magazine over an ‘interview’ with the seven times Formula One champion that was generated by artificial intelligence. A spokesperson for the Schumacher family, asked by Reuters for a comment on Wednesday, pointed to published reports of legal action. The Ferrari great has…
BRUSSELS (Reuters) – The euro zone swung to a trade surplus in February from a deficit a year earlier, non-adjusted data showed on Thursday, mainly thanks to a jump in exports of chemicals and machinery and the bulk of the improvement coming from Germany and Italy. The European Union’s statistics office Eurostat said the seasonally…
By Leigh Thomas PARIS (Reuters) -France will see its national debt burden fall faster than previously expected even though the cost of interest payments is set to soar, Finance Minister Bruno Le Maire said on Thursday. The national debt burden, which reached a record just shy of 3 trillion euros at the end of last…
By Heekyong Yang SEOUL (Reuters) -The South Korean government and its top battery companies plan to jointly invest 20 trillion won ($15.1 billion) through 2030 to develop advanced battery technologies, including solid-state batteries, the industry ministry said on Thursday. “The joint investment will allow South Korea to start commercial production of solid state batteries ahead…
(Reuters) -Richard Branson’s Virgin Orbit Holdings Inc and its subsidiaries in the United States filed a Chapter 11 bankruptcy plan with the U.S. Bankruptcy Court for the District of Delaware, the company said in a statement on Wednesday. Earlier this month, Virgin Orbit filed for Chapter 11 bankruptcy protection after the satellite launch company struggled…
SEOUL (Reuters) – The South Korean government and its top battery companies plan to jointly invest 20 trillion won ($15.1 billion) through 2030 to develop advanced battery technologies including solid-state batteries, the industry ministry said on Thursday. “The joint investment will allow South Korea to start commercial production of solid state batteries ahead of others,”…
By Ankur Banerjee SINGAPORE (Reuters) -Corporate governance in Japan has suddenly become a cause celebre, rousing the world’s third-largest stock market out of decades of lethargy and drawing in hordes of foreign investors. Japan’s stock market has long been seen by investors as a ‘value trap’ where companies focus on market share, hoard cash and…
BERLIN (Reuters) – Deutsche Bank plans to reduce its executive board to nine members from 10 and to cut some jobs in infrastructure and in its private banking business to save costs, a source close to the bank told Reuters on Thursday. Germany’s largest bank, which is due to present first-quarter results on April 27,…
