Business

French tyre maker Michelin sells its activities in Russia

May 26 (Reuters) - French tyre maker Michelin said on Friday it was selling its Russia Tyre Manufacturing Company (MRTMC) and Camso CIS in Russia to Power International Tires, a…

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Embracing AI in Education – What’s in it for Educators?

AI has been the talk of town in recent weeks, with apps such as ChatGPT taking the world by storm, as social media debates the future of education when such…

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OpenAI has no plans to leave Europe, says CEO

OpenAI CEO reverses earlier threat to leave Europe Says had productive week of conversations about regulating AI EU lawmakers were critical about OpenAI's threat region By Supantha Mukherjee May 26…

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Lufthansa intends to fully take over ITA Airways – CEO

By Angelo Amante and Ilona Wissenbach Lufthansa to take 41% by way of capital increase German carrier to invest 325 million in Italian carrier Lufthansa to appoint new ITA Airways…

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Oil falls on conflicting OPEC+, Russia messages amid stronger dollar

By Arathy Somasekhar and Trixie Yap May 26 (Reuters) - Oil prices softened in early trade on Friday, weighed on by conflicting messages from Russia and Saudi Arabia ahead of…

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Gold up, but set for weekly drop amid US debt ceiling hopes

Gold, silver face third weekly fall Gold could reach $1,980 or near $2,000 level in June - analyst Biden and McCarthy near deal that would raise debt By Arundhati Sarkar…

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UPDATED: Turkish lira nears record low of 20 vs dollar ahead of election runoff

ISTANBUL, May 26 (Reuters) - The Turkish lira weakened to a record low of 20 against the dollar on Friday, ahead of this weekend's presidential election runoff which will decide…

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Elon Musk’s Neuralink says has FDA approval for study of brain implants in humans

By Akriti Sharma and Rachael Levy (Reuters) - Elon Musk's brain-implant company Neuralink said the U.S. Food and Drug Administration (FDA) had given the green light to its first-in-human clinical…

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Airbus rules out imminent launch of new A220 jet version

PARIS, May 24 (Reuters) - Airbus AIR.PA is not looking to launch a stretched version of its A220 jetliner in the current environment, the planemaker said on Wednesday, effectively knocking down speculation of a launch at the upcoming Paris Airshow.…

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African GDP growth to edge up in 2023 despite South Africa slide -AfDB

By Rachel Savage JOHANNESBURG, May 24 (Reuters) - Africa's economic growth is set to edge upwards in 2023 and 2024 amid tighter global monetary policy and the fallout from Russia's…

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German business sentiment worsens in May

BERLIN, May 24 (Reuters) - German business morale fell further than expected in May due mainly to a sharp decline in future expectations, another sign that Europe's largest economy is…

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Asia-focused HSBC puts 12 countries on exit watchlist

Reviews presence in smaller markets to chase bigger Asian growth Looking to add 2,000 Chinese wealth managers over next two years By Lawrence White LONDON, May 24 (Reuters) - HSBC…

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Euro rises to 14-year high against Swedish crown

LONDON, May 24 (Reuters) - The euro rose to its highest against the Swedish crown in 14 years on Wednesday. The prospect of higher rates in the European Union than…

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UK inflation falls by less than expected, core inflation jumps

By Andy Bruce LONDON, May 24 (Reuters) - Britain's high inflation rate fell by less than expected in April and a closely watched core measure of price growth surged to…

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Gold rises as yields pull back with US debt debate in focus

Latest FOMC meeting minutes due at 2:00 pm ET Silver, platinum, palladium edge higher There is still that risk of rate hike - analyst By Arundhati Sarkar May 24 (Reuters)…

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Oil prices rise $1 on concerns over tightening supply

By Stephanie Kelly and Emily Chow May 24 (Reuters) - Oil prices gained over $1 on Wednesday after U.S. inventories and fuel supplies tightened and as a warning from the…

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Netflix expands password sharing crackdown around the world

By Lisa Richwine and Dawn Chmielewski (Reuters) - Netflix Inc expanded its crackdown on password sharing to the United States and more than 100 other countries, alerting users that their…

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Take on Metaverse opportunities but address risks, accountants urge

The metaverse, as well as technological developments in the field of blockchain and AI, create a vast array of opportunities, according to Malta’s budding accountants, but establish new risk of…

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EU seeks top court backing in $14 billion tax fight against Apple

U competition regulators appealed to the bloc's highest court on Tuesday to override a lower tribunal and make Apple AAPL.O pay a record 13 billion euros ($14.3 billion) in Irish back taxes. The case,…

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Tech and games at the heart of tomorrow’s education

It is no secret that technology and digital skills have become a must in today's world. In our increasingly interconnected and digitalized society, technology permeates nearly every aspect of our…

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Watchdog proposes first set of global rules for crypto sector

International securities watchdog IOSCO on Tuesday proposed the first global approach to regulating cryptoasset markets, applying lessons from the collapse last year of FTX exchange that raised concerns over consumer…

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Regulators dust off rule books to tackle generative AI like ChatGPT

As the race to develop more powerful artificial intelligence services like ChatGPT accelerates, some regulators are relying on old laws to control a technology that could upend the way societies…

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Onslaught of inefficient meetings is exhausting workers according to Microsoft research

New research from Microsoft shows how out of hand our work calendars have gotten: Since February 2020, people are in 3 times more Microsoft Teams meetings and calls per week…

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Polish wages rise 12.1% y/y in April, in line with forecast

May 22 (Reuters) - Polish corporate sector wages rose by an annual 12.1% in April to an average of 7,431 zlotys ($1,793.97) per month, in line with analysts' expectations of…

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SKF to build plant in Morocco for magnetic bearings

STOCKHOLM, May 22 (Reuters) - Sweden's SKF is investing 50 million crowns ($4.9 million) in a magnetic bearings factory in Tangier in Morocco, the company said on Monday. "The new…

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22

May

Britain chips away at NatWest stake with $1.6 bln share sale

By Iain Withers and Amy-Jo Crowley LONDON, May 22 (Reuters) - British state-backed bank NatWest has agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from…

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Foreign investment in Germany holds steady despite challenging environment

BERLIN, May 22 (Reuters) - Foreign investment in Germany remained stable in 2022 despite the difficult economic situation, data from the country's economic development agency, Germany Trade & Invest (GTAI),…

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Ryanair posts near record profit

DUBLIN, May 22 (Reuters) - Ryanair on Monday posted a near record profit of 1.43 billion euros ($1.57 billion) in the year to end-March and said it was cautiously optimistic…

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Gold ticks up as traders navigate US debt limit hitch, Fed cues

Biden and McCarthy to meet on Monday for U.S. debt ceiling talks U.S. dollar down 0.2% By Kavya Guduru May 22 (Reuters) - Gold prices edged up on Monday as…

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Oil slips as U.S. debt caution offset supply concerns

By Florence Tan SINGAPORE, May 22 (Reuters) - Oil prices slipped on Monday as caution around the U.S. debt ceiling talks and concerns about demand recovery in China offset support…

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Pent-up demand promises record tourist season for southern Europe

Strong early arrivals in Italy, Iberia, Greece Airlines, tour operators see robust summer bookings Tourism boom to provide economic boost to southern Europe By Giselda Vagnoni ROME (Reuters) - After…

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German carmakers call for post-Brexit rules to be postponed

BERLIN, (Reuters) - Germany's powerful auto industry association is urging the European Union and Britain to postpone post-Brexit rules it says would hamper the transition to electric vehicles, potentially boosting…

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Pension reform defiance brings new blood to French trade unions

CGT seeing new interest from young and private sector Union membership had stagnated at about 10% of workforce Challenge is to keep membership in era of home-working By Leigh Thomas…

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How much water does tourism in the Balearic Islands use?

One of the most frequent comments among the population residing in the Spanish Balearic Archipelago – a renowned tourist destination for Europeans – used to be: “Tourists consume a lot…

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German tax revenues down again in April

BERLIN, May 19 (Reuters) - Tax revenues in Germany fell by 4.6% in April compared with the same month last year due to relief measures introduced by the government to…

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Adidas to donate Yeezy proceeds to Anti-Defamation League and other NGOs

FRANKFURT (Reuters) - Adidas will start selling some of the shoes from its defunct Yeezy partnership with rapper Kanye West at the end of May, the company said, and plans…

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LDC fears bird flu may spread through France again

By Sybille De La Hamaide PARIS, (Reuters) - France's largest poultry producer, LDC, warned that an upsurge in bird flu cases in the southwest might lead to the virus spreading…

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UK consumers turn more confident despite inflation pain – GfK

By Suban Abdulla LONDON (Reuters) - British consumer confidence has risen for the fourth month in a row to its highest in 15 months as households take a more positive…

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Qantas eyes return to 100% of pre-COVID capacity by March 2024

May 19 (Reuters) - Qantas Airways Ltd , Australia's flagship carrier, said on Friday it expects its international capacity to reach about 100% of pre-COVID-19 levels by March 2024, as…

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ECB eyes additional steps to tackle bank deposit risks

MILAN, May 19 (Reuters) - The European Central Bank is considering whether requirements tailored for individual lenders could help address the risks arising for those holding large amounts of uninsured…

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ECB will be ‘courageous’ to fight off inflation, Lagarde says

MADRID, May 19 (Reuters) - The European Central Bank will not flinch from taking the decisions needed to bring inflation down to its mid-term goal of 2%, the bank's president…

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Oil rebounds on fading risk of US debt default

By Jeslyn Lerh SINGAPORE, May 19 (Reuters) - Oil prices rebounded on Friday from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading…

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Gold set for biggest weekly fall since Feb on US debt deal hopes

Gold down 2.4% so this week Silver set for secondly weekly fall Strong auto sales boding well for PGM demand - ANZ By Arundhati Sarkar May 19 (Reuters) - Gold…

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Angelina Jolie introduces sustainability-focused fashion company to help refugees

Angelina Jolie announced a new fashion venture aimed at allowing customers to participate in the making of their own creations with master tailors, pattern makers and artisans around the world…

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Aston Martin stock soars as China’s Geely to become no.3 shareholder

Geely commits to investment of 234 mln pounds Aston Martin stock rises to a more than two-month high New share subscription to bring AML 95 mln pounds in cash proceeds…

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Mr Kipling maker Premier Foods to stop price hikes this year

Does not expect price increases this year 2023 profit 137.2 mln stg vs analyst forecast of 135 mln stg Shares up 4.6% Recasts, adds price By Radhika Anilkumar May 18…

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A list of European companies that cut jobs as economy sputters

May 18 (Reuters) - Decades-high inflation and the impact of war in Ukraine have forced companies across Europe into lay-offs or hiring freezes. Here are some of the companies that…

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UPDATED: ECB to keep raising rates, though most of tightening is done, De Guindos says

MADRID, May 18 (Reuters) - The European Central Bank will have to keep raising interest further to bring inflation back to its mid-term goal of 2% though most of the…

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UK’s easyJet confident as summer demand ramps up

Sees Q3 revenue per seat up 20% on last year HY loss 411 mln stg, in line with guidance Analysts expect FY profit of 345 mln stg Adds analyst in…

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BT to cut up to 55,000 jobs by 2030 after fiber build ends

To cut jobs after fibre build-out ends Free cash flow comes in at bottom of guidance Meets expectations for annual core earnings growth Shares down 9% By Paul Sandle LONDON,…

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Britain’s Royal Mail posts losses of 419 mln pounds

May 18 (Reuters) - Britain's Royal Mail posted an annual adjusted operating loss of 419 million pounds ($528.82 million), ahead of market expectations, its parent International Distributions Services IDSI.L said…

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Oil prices ease on caution over US debt ceiling talks

Biden, McCarthy push forward towards deal on US debt ceiling U.S. rate hike prospect weighs on oil prices By Stephanie Kelly and Sudarshan Varadhan May 18 (Reuters) - Oil prices…

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Gold listless as US debt talks dominate market mood

Gold could remain in $1,965-$2,020 range in May - analyst Biden, McCarthy push forward towards U.S. debt-ceiling deal Silver, platinum fall By Arundhati Sarkar May 18 (Reuters) - Gold prices…

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Montana to become first US state to ban TikTok

By David Shepardson (Reuters) - Montana Governor Greg Gianforte signed legislation to ban Chinese-owned TikTok from operating in the state to protect residents from alleged intelligence gathering by China, making…

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New Vodafone boss takes aim at costs with 11,000 global job cuts

By Paul Sandle and Sarah Young New CEO says Germany underperforming Spanish business under strategic review Sees 1.5 bln euro fall in free cash flow this year LONDON (Reuters) -…

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French food groups agree to renegotiate prices – minister

PARIS, May 17 (Reuters) - France's food industry has agreed to reopen price negotiations with retailers early, Finance Minister Bruno Le Maire said on Wednesday after he put pressure on…

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Netflix password sharing crackdown in the UK looms

A Netflix crackdown on account sharing in the UK is expected to kick in this month, according to reports. The streaming giant has held talks with UK telecoms groups carrying…

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