MEXICO CITY (Reuters) – Mexico’s headline inflation likely reached its lowest level in more than two years during the first half of June, but remained above the central bank’s target, a Reuters poll showed on Monday, reinforcing bets the bank will keep the key rate steady longer. The median forecast of 11 analysts sees annual…
PARIS (Reuters) – French carmaker Renault appointed on Monday its group chief executive Luca de Meo as the future chairman and CEO of Ampere, the electric vehicle division which Renault is aiming to list on the stock market. Renault added that its board of directors had also set up an ad-hoc committee, chaired by Jean-Dominique…
By Friederike Heine, Supantha Mukherjee and Andreas Rinke BERLIN/STOCKHOLM (Reuters) -Intel will spend more than 30 billion euros ($33 billion) to develop two chip-making plants in Magdeburg as part of its expansion push in Europe, a deal Chancellor Olaf Scholz hailed on Monday as Germany’s biggest ever foreign investment. Berlin has agreed subsidies worth nearly…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European shares fell on Monday, as investors awaited further stimulus measures from China to revive demand and eyed testimony from Federal Reserve Chair Jerome Powell this week for more cues on the U.S. central bank’s rate outlook. The pan-European STOXX 600 index shed 1.0%, while Germany’s DAX…
PARIS (Reuters) – RTX expects to take a $500 million hit to free cash flow due to a supply chain problem with the GTF engine made by its Pratt & Whitney subsidiary, the company said during an investor day on Monday. GTF deliveries that are delayed in the second quarter will be recovered in the…
By Georgina Lee HONG KONG (Reuters) – The 24 companies that debuted the yuan-denominated stock trading scheme in Hong Kong attracted a small fraction of their stocks’ trading volume on Monday, as interest in using the new currency option was dwarfed by the Hong Kong dollar. Hong Kong Exchanges & Clearing began the so-called HKD/RMB…
By Julia Payne BRUSSELS (Reuters) – Europe is in danger of losing the race to become a global battery powerhouse as access to raw materials remains a major roadblock along with rising costs and fierce competition, a report by the European Court of Auditors (ECA) said on Monday. The report warned that the European Union…
By Simon Jessop and Olena Harmash LONDON (Reuters) -Ukraine is seeking up to $40 billion to fund the first part of a “Green Marshall Plan” to rebuild its economy, including developing a coal-free steel industry, a senior Ukrainian official said ahead of an international summit. Politicians and financiers will discuss short-term funding issues as well…
By Iain Withers LONDON (Reuters) -The dollar edged higher and the UK pound was near a 14-month peak on Monday as investors digested a slew of monetary policy decisions by central banks last week and looked ahead to a crunch decision by the Bank of England on Thursday. Currency market moves have been dominated by…
By Giuseppe Fonte and Elvira Pollina ROME (Reuters) – Telecom Italia (TIM) is leaning towards entering talks with KKR over the sale of its prized landline grid, two sources said, as the U.S. fund’s offer is seen as preferable to a rival bid tabled by a consortium led by state lender CDP. KKR’s approach incorporates…
