Lufthansa in talks to sell 20% of maintenance arm Technik – sources
By Emma-Victoria Farr and Ilona Wissenbach
Full cost of rebuilding Ukraine impossible to quantify, says German Finance Minister
BERLIN (Reuters) – German Finance Minister Christian Lindner said on Tuesday it was impossible to say how much it would cost to rebuild Ukraine as long as fighting with Russia continues, amid European Union discussions on how to fund further aid for Kyiv.
Britishvolt buys German battery cell maker EAS for 36 million euros
By Nick Carey LONDON (Reuters) – Electric vehicle (EV) battery startup Britishvolt said on Tuesday it will buy German battery cell developer and manufacturer EAS from Bulgarias Monbat for 36 million euros ($38.6 million) to help it scale up its own production.
Global digital tax deal might not be ready until early 2024 – France
PARIS (Reuters) – A global digital tax deal might not be ready until the end 2023 or early 2024, French Finance Minister Bruno Le Maire said on Tuesday, flagging a big delay to the reforms implementation.
Insecurity, battle with lawmakers clouding presidency of Ecuadors Lasso
By Alexandra Valencia QUITO (Reuters) – Ecuadorean President Guillermo Lassos efforts to combat insecurity and economic problems amid rising violence and fierce legislative opposition are falling short, putting at risk foreign investment, according to analysts and residents.
Siemens Gamesa CEO: will return to at least 2017 turbine pricing levels
FRANKFURT (Reuters) – Siemens Gamesa, the wind turbine maker majority-owned by Siemens Energy, expects onshore turbine prices to return to levels seen in 2017 or even higher than that, its Chief Executive Jochen Eickholt said on Tuesday.
Spain to spend 12.25 billion euros on microchip industry
MADRID (Reuters) – Spains government has approved a plan to spend 12.25 billion euros ($13.12 billion) on the semiconductor and micro chip industry by 2027, Economy Minister Nadia Calvino said on Tuesday, including 9.3 euros to fund the building of plants.
Britons warned energy bills could jump another 40% in October
By Muvija M LONDON (Reuters) – Household energy bills in Britain look set to surge by another 40% in October, the industry regulator warned on Tuesday, deepening a cost-of-living crisis that is piling pressure on the government to do more to help the poorest.
U.S. says China and Russia bomber drill shows depth of their alignment
By Michael Martina WASHINGTON (Reuters) – A joint strategic bomber exercise by Russia and China in East Asia on Tuesday shows the depth of the two countries alignment, a senior U.S. administration official said.
Polish rate hikes must depend on data, says c.banker Sura
WARSAW (Reuters) – The size of rate hikes in Poland must be determined by incoming data on the economy and inflation, central banker Rafal Sura said in comments published on Tuesday, adding that this meant it was not possible to say how high rates will go.
No data to support changing Boeing 737 MAX 10 cockpit alerting -executive
By Eric M. Johnson EVERETT, Wash. (Reuters) – A Boeing Co executive said there was no need to revamp the cockpit crew alerting system in its forthcoming 737 MAX 10 jet, as the U.S. planemaker races to complete its certification before a year-end deadline.
Lufthansa bids for 20% stake in ITA Airways -source
FRANKFURT (Reuters) – Germanys Lufthansa wants to acquire a 20% stake in state-owned Italian airline ITA Airways, the successor to Alitalia, and its cooperation partner MSC is bidding for a 60% stake, a person familiar with the matter told Reuters on Tuesday.
Chanel upbeat on 2022 growth despite China, recession risk
PARIS (Reuters) – Chanel is confident it will deliver another year of solid growth despite a decline in sales in China because of a new round of lockdowns since March, its finance chief told Reuters on Tuesday.
Russias Sberbank pays in roubles on dollar-denominated Eurobonds
(Reuters) – Russian lender Sberbank on Tuesday said it had made a coupon payment on dollar-denominated subordinated Eurobonds in roubles at the central bank exchange rate.
Ralph Lauren forecasts upbeat annual revenue on strong demand
(Reuters) – Ralph Lauren Corp forecast full-year revenue above estimates on Tuesday, as demand for its affordable luxury goods from the affluent in the United States and Europe stays strong.
Qatar Investment Authority cannot exit Russian market
DOHA (Reuters) – The Qatar Investment Authority cannot exit the Russian market and is waiting to assess its position there because of the Ukraine crisis, the sovereign wealth funds chief investment officer for Europe, Russia and Turkey said Tuesday.
Snap Incs profit warning sends ripples through social media stocks
(Reuters) – Snap Incs shares slumped 30% before the bell on Tuesday after a profit warning from the social media company signaled tough times ahead for the once-booming industry, sparking a sector-wide selloff.
Norway risks “pressed” electricity market in winter of 2023, Statnett says
OSLO (Reuters) – Norwegian electricity grid operator Statnett said on Tuesday the Nordic country risks a “pressed” security of supply in the southern half of the country under certain circumstances towards and through the winter of 2023.
McKinseys Paris office searched by authorities – reports
PARIS (Reuters) – Authorities carried out a search on Tuesday at the Paris office of U.S. management consultancy McKinsey, reported Le Parisien paper and Agence France Presse (AFP).
Abercrombie cuts annual sales forecast as inflation hits apparel demand
(Reuters) – Abercrombie & Fitch Co trimmed its full-year sales forecast on Tuesday as record-high inflation hits demand for the retailers jeans, tops and dresses, sending its shares down 18% in premarket trade.
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