German economy skirts recession
By Maria Martinez BERLIN (Reuters) -The German economy skirted a recession at the start of the year, growing modestly but more than expected thanks to investment in construction and exports. The economy grew slightly in the first quarter, with gross d...
18m ago
German unemployment rises more than expected, labour office says
By Maria Martinez BERLIN (Reuters) - The number of people out of work in Germany rose more than expected in April, Federal Labour Office figures showed on Tuesday. The office said the number of unemployed grew by 10,000 in seasonally adjusted term...
19m ago
China to step up support for economy, flexibly use policy tools, Politburo says
BEIJING (Reuters) - China will step up its support for the economy, flexibly using policy tools, including banks' reserve requirement ratios (RRR) and interest rates, the Politburo, a top decision-making body of the ruling Communist Party, was quot...
21m ago
CEO of French publisher Lagardere to resign from executive roles due to court indictment
PARIS (Reuters) - Arnaud Lagardere, the chairman and CEO of French publishing group Lagardere SA, will have to resign from his executive roles as a result of an earlier court indictment against which he will appeal, the company said on Tuesday. "Th...
33m ago
MTU Aero Engines' Q1 profit rises on Eurofighter orders despite turbofan woes
BERLIN (Reuters) - German engine manufacturer MTU Aero Engines reported higher first-quarter earnings on Tuesday, boosted by orders from the joint European Eurofighter jet project while its turbofan engines recall campaign remained on track. Adjust...
35m ago
European shares muted in earnings deluge ahead of inflation data
(Reuters) - European shares opened trade on a subdued note on Tuesday, as investors parsed a deluge of corporate earnings reports from industry heavyweights while keeping an eye out for economic data including the euro zone's inflation for April. T...
1h ago
Norway's wealth fund backs bid for PepsiCo biodiversity risk assessment
By Helen Reid LONDON (Reuters) - Norway's sovereign wealth fund plans to back a shareholder proposal demanding PepsiCo conduct a biodiversity risk assessment to gauge how vulnerable the soft drink and snacks giant's operations are to biodiversity l...
1h ago
French economy grows slightly in Q1
(Reuters) -The French economy grew slightly in the first quarter, preliminary data from the INSEE statistics agency showed on Tuesday, a touch above analysts' expectations. The euro zone's second-biggest economy rose by 0.2% in the first three months o...
2h ago
Uganda to get $295 million loan from Islamic Development Bank, finance minister says
KAMPALA (Reuters) - Uganda has signed an agreement with Saudi Arabia's Islamic Development Bank (IDB) for a $295 million loan to fund road construction and other projects, the east African country's finance minister said on Tuesday. The move unders...
2h ago
Bank of Japan upbeat on consumption, service price outlook
By Leika Kihara TOKYO (Reuters) - Japanese service prices are rising and bumper pay hikes offered by firms will boost household income later this year, the Bank of Japan said, underscoring its conviction the economy is making progress towards susta...
2h ago
IMF $1.1 billion tranche to help Pakistan's economic stability, says PM Sharif
ISLAMABAD (Reuters) - The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The fun...
2h ago
Adidas first-quarter growth dimmed by North America sales dip
(Reuters) -Adidas' strong first-quarter results were helped by growth across all regions, excluding North America, where inventory levels are still high, the German sportswear brand said on Tuesday. Like other apparel and footwear retailers in the Unit...
2h ago
Carlsberg says price increases gave solid start to 2024
By Jacob Gronholt-Pedersen and Emma Rumney COPENHAGEN (Reuters) -Danish brewer Carlsberg saw price increases in all its main markets during the first quarter, its CEO said on Tuesday as the company reported quarterly sales slightly above expectations. ...
2h ago
Stellantis Q1 revenues fall 12% amid product portfolio transition
MILAN (Reuters) - Stellantis said on Tuesday its revenue fell 12% in the first quarter of the year on lower volumes, unfavourable product mix and foreign exchange dynamics, partially balanced by "firm" pricing power. CFO Natalie Knight said shipmen...
2h ago
German retail sales rise more than expected in March
(Reuters) - German retail sales rose more than expected in March, increasing by 1.8% compared with the previous month, data showed on Tuesday. Analysts polled by Reuters had predicted a 1.1% increase. The federal statistics office publishes more de...
2h ago
Production at three Stellantis plants hit by strike to restart in early May
MILAN (Reuters) - Production at three Stellantis assembly plants in Europe will restart in the first days of May, a spokesman said on Tuesday, after the automaker found alternative solutions for the sourcing of parts. The sites, in France and Brita...
2h ago
Britain starts physical checks on fresh food imports from the EU
By James Davey LONDON (Reuters) - Britain launched physical checks on fresh food products imported from the European Union on Tuesday some three years after it left the bloc's single market and eight years after it voted to leave the EU. While Brit...
2h ago
Air France-KLM reports worse than expected Q1 results as costs soar
By Joanna Plucinska and Diana Mandia LONDON/GDANSK (Reuters) - Airline group Air France-KLM on Tuesday reported a higher than expected first quarter operating loss of 489 million euros ($524.31 million) as it faced high customer compensation at Dut...
3h ago
Microsoft to invest $1.7 billion in cloud, AI in Indonesia, CEO says
By Stanley Widianto JAKARTA (Reuters) - Microsoft will invest $1.7 billion in Indonesia to empower the Southeast Asian country with cloud services and artificial intelligence, including by building data centres, visiting chief executive Satya Nade...
4h ago
Germany's Vonovia ekes out return to profit amid slump
DUESSELDORF (Reuters) - Vonovia, Germany's largest real estate group, on Tuesday reported that it returned to profit in the first quarter, even as the nation's property continues to writhe amid its worst crisis in decades. Profit of 335.5 million e...
4h ago
Mercedes-Benz vows to defend pricing levels after in-line Q1 profit drop
FRANKFURT (Reuters) -Luxury carmaker Mercedes-Benz on Tuesday reported lower first-quarter profits and sales that were in line with expectations, adding it would hold and defend high pricing levels seen in the first quarter. The group's first-quarter e...
4h ago
Santander's Q1 net profit up 11% due to solid European retail unit
MADRID (Reuters) -Santander on Tuesday said its first-quarter net profit rose 11% year-on-year as its solid retail business in Europe benefited from higher interest rates and a diversified business strategy that allowed a steady revenues growth. The eu...
4h ago
Tesla's Musk trims senior management amid more layoffs, The Information reports
(Reuters) - Tesla CEO Elon Musk is thinning the company's senior management team and laying off hundreds more employees, The Information reported on Tuesday, citing an email sent by Musk to senior executives. (Reporting by Nilutpal Timsina in Beng...
4h ago
Lufthansa forecasts return to profit in H1 after strike wave
BERLIN (Reuters) - Lufthansa hopes to claw back its strike-related losses in the second half of the year, the German flag carrier said on Tuesday, pointing to a strong summer season with bookings up 16% on the previous year. The airline confirmed ...
4h ago
Cryptoverse: TON takes off on Telegram tie-up
By Elizabeth Howcroft (Reuters) - A coin called TON has leapt in value in recent months, with investors betting its integration with messenger service Telegram could bring the cryptocurrency to the app's estimated 900 million users. Telegram endors...
4h ago