By Joanna Plucinska PARIS (Reuters) – Big deals at this week’s Paris Airshow have highlighted a sharp recovery in air travel demand. The sector promises to reduce net emissions to zero by 2050. Green groups say more planes in the sky could hamper those efforts. Aviation generates roughly 3% of global emissions. It is also…
By Sergio Goncalves LISBON (Reuters) – Keeping Lisbon’s airport hub and safeguarding TAP’s strategic role for Portugal will be key conditions of the airline’s upcoming privatisation, more than the sale price, the government said on Wednesday. Portugal wants to keep a strategic stake in TAP and will not offer all its capital in the privatisation,…
By Qiaoyi Li and Liz Lee BEIJING/SHANGHAI (Reuters) -China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth. Weakening sales growth in the world’s biggest…
(Reuters) – U.S. Treasury Secretary Janet Yellen will press world leaders to take concrete actions at a summit this week on easing the debt burdens of low-income nations, a senior Treasury Department official said on Wednesday. Yellen will lead the U.S. delegation to the Paris meeting on Thursday and Friday. French President Emmanuel Macron also…
By Giulio Piovaccari MILAN (Reuters) – Pirelli investor Brembo is worried about strains between the tyremaker’s Italian and Chinese shareholders and is likely to steer clear of any plan to build an Italian majority in the company, two sources told Reuters. Last week, the Italian government intervened in a shareholder governance agreement at Pirelli, using…
NEW YORK (Reuters) – The Federal Reserve’s fight to lower inflation back to its 2% target “has a long way to go,” Federal Reserve Chair Jerome Powell said on Wednesday in testimony prepared for delivery to the House Financial Services Committee. Investors broadly expect increases to resume at the Fed’s July meeting, after the Fed…
By Nupur Anand and Lananh Nguyen NEW YORK (Reuters) – JPMorgan Chase & Co’s commercial bank is entering Singapore and Israel this year as its unit catering to midsize and small companies makes a global push, the bank said. The moves will give the commercial bank a presence in 28 countries by year-end. JPMorgan’s international…
By Krishna N. Das and Edward McAllister NEW DELHI (Reuters) -Gambia will make it mandatory for all pharmaceutical products from India to be inspected and tested prior to shipment from July 1, according to Gambian government documents reviewed by Reuters, the first known restrictions on national exports following the deaths of dozens of children linked…
By David Milliken and William Schomberg LONDON (Reuters) -British inflation defied predictions of a slowdown and held at 8.7% in May, putting yet more pressure on the Bank of England a day before it is expected to raise interest rates for the 13th time in a row. Markets increased bets on further rate rises following…
By Sam Nussey and Anton Bridge TOKYO (Reuters) -SoftBank Group CEO Masayoshi Son said on Wednesday that his tech investing conglomerate plans to shift its stance to “offence mode” amid excitement over advances in artificial intelligence. The group had retreated into a defensive stance, curbing investment activity as it booked heavy investment losses at its…
