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 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…
By Naomi Rovnick and Stella Qiu LONDON, SYDNEY (Reuters) -Global shares fell from 14-month highs hit last week, as investors awaited testimony from U.S. Federal Reserve Chair Jerome Powell in markets that remain dominated by monetary policy bets. The MSCI’s broad gauge of world stocks softened by 0.3%, with Wall Street markets closed for the…
By Philip Pullella VATICAN CITY (Reuters) – U.S. climate envoy John Kerry said on Monday that the United States and China – the world’s two biggest greenhouse gas emitters – must create a partnership to tackle climate change without allowing their differences on other issues get in the way. Kerry spoke to Reuters in front…
FRANKFURT (Reuters) -The European Central Bank should err on the side of further interest rate hikes as inflation could come in even higher than it expects, two ECB policymakers said on Monday, even as the bank’s chief economist opened the door to a pause. The ECB has raised rates by a combined four percentage points…
By Lefteris Papadimas and Karolina Tagaris KALAMATA, Greece (Reuters) -A Syrian teenager who survived a shipwreck that killed at least 78 people off Greece was emotionally reunited with his elder brother on Friday, but there was no news for other relatives searching for loved ones. Witness accounts suggested between 400 and 750 people had packed…
MADRID (Reuters) – The European Central Bank is likely to raise interest rates again next month but it is too early to predict the decision of the September meeting, which will be shaped by incoming data, the ECB’s chief economist Philip Lane said on Monday. The ECB raised euro zone borrowing costs to their highest…
