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 Kate Abnett LUXEMBOURG (Reuters) -European Union countries on Monday haggled over a proposal allowing them to extend subsidies for coal plants as part of broader reforms to the bloc’s power market that are meant to increase the use of low-carbon power. EU energy ministers were meeting in Luxembourg to agree a joint stance on…
By Tim Hepher and Joanna Plucinska PARIS (Reuters) -Airbus announced a record 500-plane deal with Indian airline IndiGo on day one of the Paris Airshow on Monday, as strong demand for jets and missiles vied for attention with the industry’s supply chain problems. The multibillion-dollar deal for single-aisle planes – the largest ever by number…
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 Ahmed Eljechtimi RABAT (Reuters) – The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. “CBDCs should not be fragmented national propositions… To have more efficient and fairer transactions we need systems that connect countries:…
By Allison Lampert, Joanna Plucinska and Maiya Keidan PARIS/TORONTO (Reuters) – A year ahead of the Paris Olympics, flying taxi maker Volocopter wants to prove to executives at the Paris Airshow it is on track to ferry customers around the sporting showcase and take off globally. The world’s largest air show tends to focus on…
By Casey Hall and Sophie Yu SHANGHAI (Reuters) -Sales on JD.com’s e-commerce site during China’s mid-year shopping festival – the first major shopping event since the country’s reopening – grew more than expected, according to brokerages’ estimates based on data they have received. The Chinese e-commerce giant saw sales rise 6-8% over the 618 festival…
DUBAI (Reuters) -Saudi defence company SCOPA Industries and Airbus have signed an agreement to jointly produce civil and military helicopters in the kingdom, SCOPA CEO Fawaz Alakeel told Saudi state TV on Monday. The deal was announced on the sidelines of a Saudi-French investment forum being held during a visit by Saudi Arabia’s Crown Prince…
By Kate Abnett LUXEMBOURG (Reuters) -A late proposal to extend subsidies for coal plants has upset European Union countries’ plans on Monday to approve a reform of the bloc’s power market, which was designed to shift the electricity system towards cleaner energy. EU countries’ energy ministers meet in Luxembourg on Monday to agree a joint…
(Reuters) – European shares fell at the opening bell on Monday, with Franco-German lab equipment maker Sartorius leading the declines, while investors cautiously awaited further stimulus measures from China to revive demand. The pan-European STOXX 600 index shed 0.5% by 0719 GMT, while Germany’s DAX index dropped 0.4% after closing at a record high in…
