(Reuters) – The UK’s anti-trust regulator fined German luxury carmaker BMW 30,000 pounds ($36,519) plus a further daily penalty of 15,000 pounds on Thursday over a disputed information request related to an ongoing auto industry probe. The Competition and Markets Authority (CMA) said it believes BMW holds information important to the probe it launched in …
BMW fined by UK watchdog over information request Read More »
By Francesca Landini, Julia Payne and Giuseppe Fonte MILAN (Reuters) – Russia’s Lukoil and U.S. private equity firm Crossbridge are close to a deal for the sale of the Russian group’s refinery in Sicily, Italy, three sources with knowledge of the matter said on Thursday. The agreement between Lukoil and Crossbridge, which is supported by …
Exclusive-Lukoil, U.S. private equity nearing deal on Sicilian refinery – sources Read More »
(Reuters) – The sale of a Shell Plc and Exxon Mobil Corp oil-production joint venture in California has been pushed back to the first quarter of next year for U.S. regulatory approvals, the companies said on Thursday. German asset manager IKAV in September agreed to pay $4 billion for Aera Energy, a Shell-Exxon business that …
Shell, Exxon face delays in exiting California oilfield Read More »
By David Lawder WASHINGTON (Reuters) – Low-income countries will need nearly $500 billion in external financing during the 2022-2026 period, the International Monetary Fund said on Thursday, an increase of about $57 billion from a year-ago estimate due largely to spillovers from Russia’s war in Ukraine. The IMF said in a new policy paper that …
IMF says poor countries need nearly $500 billion in external financing through 2026 Read More »
FRANKFURT (Reuters) – Proposed European Union rules aimed at tempering natural gas price spikes may actually jeopardize financial stability and need to be redesigned, the European Central Bank said on Thursday in a formal opinion. The EU proposed a “market correction mechanism” last month aimed at tempering natural gas prices and market volatility after a …
EU’s gas price cap scheme could backfire, raise volatility -ECB Read More »
PARIS (Reuters) – The French economy is on course to finish the year with slightly positive growth in the fourth quarter, the central bank said on Thursday in its monthly outlook. The euro zone’s second biggest economy is set to grow 0.1% in the final quarter of 2022 from the previous three months, after posting …
French central bank sees fourth quarter growth of 0.1% Read More »
ZURICH (Reuters) – Credit Suisse on Thursday announced the final result of its 4 billion Swiss franc ($4.25 billion) capital raise, saying 98.2% of shareholder rights to buy stock at a discount had been taken up in the second part of the fundraising. Switzerland’s second biggest bank said subscription rights for 872.9 million new shares …
Credit Suisse raises 2.24 billion Swiss francs in second part of capital hike Read More »
PARIS (Reuters) – French power group EDF and energy group Fortum said on Thursday they had signed an framework agreement to study opportunities for cooperation to develop nuclear reactor projects in Finland and Sweden, both with conventional large reactors (EPR) and small- and medium-sized reactors (SMR). EDF said it has the ambition to deploy a …
EDF, Fortum agree to study nuclear newbuild in Finland and Sweden Read More »
By Stefania Spezzati, Lawrence White and Iain Withers LONDON (Reuters) -Barclays has promoted 85 people to managing director (MD) in its investment bank, it said on Thursday, with by far the majority of the coveted titles this year being taken by men. Banks have come under pressure for a poor track record on gender equality, …
Barclays promotes mostly men to investment bank managing director Read More »
TOKYO (Reuters) -The talks between Renault SA and Nissan Motor Co over alliance restructuring are certain to spill into next year, Bloomberg reported on Thursday, citing people familiar with the matter. The automakers are looking to make announcements toward the end of January, Bloomberg reported. In their talks, Renault is hoping to convince Nissan to …
Renault-Nissan alliance talk certain to spill into new year, sources say -Bloomberg Read More »
