Germany wants to attract chip makers with 14 billion euros state aid
BERLIN (Reuters) – Germanys government wants to attract chip makers with 14 billion euros ($14.71 billion) in support, Economy Minister Robert Habeck said on Thursday, adding that the lack of semiconductors used in everything from smartphones to cars was a massive problem.
UK convenience chain McColls says it could fall into administration
(Reuters) – Struggling British convenience shop chain McColls said on Thursday it was increasingly likely that the group would be placed into administration, a move that could put thousands of jobs at peril.
Bank of America: consumer spending on cards up from 2021 across all income groups
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Bank of America said Thursday that consumers debit and credit card spending rose across all income brackets in April, although spending levels for lower-income customers appeared to flatten out in recent weeks.
Orban says new EU sanctions against Russia would harm Hungary more -report
BUDAPEST (Reuters) – The European Unions new sanctions package against Russia, including an embargo on crude oil imports, would cause more harm to Hungary than Russia, Prime Minister Viktor Orban said, news website index.hu reported on Thursday.
Greece to set cap on electricity prices to relieve consumers- PM
ATHENS (Reuters) – The Greek government will set a ceiling on wholesale electricity prices to help consumers and businesses cope with their soaring energy costs, Prime Minister Kyriakos Mitsotakis said on Thursday.
Belgiums Bpost warns of 40 million euro risk to 2022 guidance
(Reuters) – Belgian postal operator Bpost on Thursday warned of a 40 million euro downside risk to its 2022 guidance from rising inflation and a drop in parcel volumes as COVID-19 restrictions unwound.
UK sanctions Russian steelmaker Evraz
LONDON (Reuters) -The British government said on Thursday it had sanctioned steel manufacturing and mining company Evraz, whose biggest shareholder is sanctioned billionaire Roman Abramovich, in response to Russias invasion of Ukraine.
Portugals EDP swings to quarterly loss on Ukraine war impact, drought
LISBON (Reuters) – Portugal‘s largest utility EDP-Energias de Portugal swung to a first-quarter loss of 76 million euros ($80 million) from year-ago profit of 180 million, hit by energy market turbulence due to Russia’s invasion of Ukraine and a drought at home.
Germany must return to solid finances in 2023, finance minister says
BERLIN (Reuters) – German Finance Minister Christian Lindner said on Thursday it was necessary for Europe‘s largest economy to return to solid finances next year given rising inflation and despite a darkening outlook following Russia’s invasion of Ukraine.
U.S. rate futures price in 75% chance of 75 bps Fed hike in June
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Futures on the federal funds rate priced in on Thursday a roughly 75% chance of a three quarters of a percentage point tightening by the Federal Reserve at next months policy meeting, a day after Fed Chair Jerome Powell
Colombia swapped $641 million in local public debt last month
BOGOTA (Reuters) – Colombia swapped internal public debt worth 2.6 trillion pesos ($641 million) in April, the second such operation this year and part of an effort to reduce amortizations and improve the countrys debt profile, its finance ministry said on Thursday.
Germany rejects ESM proposal for 250 billion euro fund – Handelsblatt
BERLIN (Reuters) – Germany has rejected a proposal by European Stability Mechanism economists to create a new aid fund worth 250 billion euros ($262.83 billion) for euro zone states, Handelsblatt newspaper reported on Thursday, citing a senior finance ministry official.
Leonardo confirms guidance after rise in Q1 orders, core profits
ROME (Reuters) – Italys aerospace and defence group Leonardo said it confirmed its 2022 guidance after posting a rise in orders and core profits in the first three months of the year.
Brazils BRF pledges changes after bad first quarter; shares tumble
By Ana Mano SAO PAULO (Reuters) – Brazilian food processor BRF SA on Thursday attributed disappointing first-quarter results to a rise in costs and inflation in its domestic market, and vowed to boost its margins and return to profitability.
UK government bonds surge on gloomy BoE growth view
LONDON (Reuters) – Short-dated British government bond prices surged on Thursday as investors judged that the Bank of Englands gloomy economic growth outlook would slow the pace of interest rate rises, despite inflation being set to reach double figures.
Major aircraft lessor Avolon says Boeing ‘has lost its way’
DUBLIN (Reuters) – The head of the worlds second-largest aircraft leasing company on Thursday said that Boeing had “lost its way” and might need new leadership to fix a company culture that had got “totally warped”.
Czech central bank raises 2022 inflation forecast, cuts GDP outlook
PRAGUE (Reuters) – The Czech central bank on Thursday released the following forecasts in its updated macroeconomic outlook.
Kohls, Walmart to pay $5.5 million over bamboo product allegations
WASHINGTON (Reuters) – Kohls Corp and Walmart Inc have agreed to pay a combined $5.5 million penalty to settle allegations they deceptively marketed products made of bamboo that instead contained other materials, the U.S. Department of Justice said on Thursday.
Italy sets aside more money to boost capital at Monte dei Paschi – sources
By Giuseppe Fonte ROME (Reuters) – Italy is beefing up a 1.5-billion-euro ($1.6 billion) money pot destined for state-owned bank Monte dei Paschi di Siena (MPS), three sources close to the matter said, adding it was still unclear by how much it would increase it.
Venezuelas oil exports fall 8% in April amid quality-linked delays -data
By Marianna Parraga and Mircely Guanipa (Reuters) – Venezuelas oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel monitoring data on Thursday.