Reuters UK/EU

By Charlie Devereux and Jesús Aguado MADRID (Reuters) – The relationship between Spain’s left-wing government and the business sector has deteriorated sharply this year and mutual attacks are getting increasingly personal. As the COVID-19 pandemic wrought havoc on Spain’s economy after the Socialist-led government took power, the two sides cooperated in a constructive way. But …

After harmony, Spanish government’s ties to business hit discordant note Read More »

BUDAPEST (Reuters) – European budget carrier Wizz Air is planning to grow its fleet to above 200 aircraft next year and 500 aircraft by 2030, the company said on Tuesday, adding that its expansion in the Middle East offered opportunities. Wizz Air President Robert Carey told a news briefing that the core growth in coming …

Wizz Air says to expand fleet, sees good growth in Middle East Read More »

BERLIN/FRANKFURT (Reuters) -German industrial group Thyssenkrupp is making renewed efforts to divest its steel division and is working with Goldman Sachs to explore options, according to two people close to the matter. The company, whose products range from car parts to submarines, had put the idea of spin-off of the business on ice last year …

Thyssenkrupp resumes efforts to divest steel division -sources Read More »

LONDON (Reuters) -British Prime Minister Rishi Sunak’s spokesperson on Tuesday urged lawmakers to back a major element of the new deal over post-Brexit trading arrangements in Northern Ireland, adding it was a good deal amid criticism from some Conservatives. An influential group of eurosceptic Conservative lawmakers on Tuesday warned that the newly agreed ‘Stormont brake” …

UK PM Sunak urges lawmakers to back “good deal” on Northern Ireland – spokesperson Read More »

By Andy Bruce and Sachin Ravikumar LONDON (Reuters) -Britain’s government borrowed more than expected in February, official data showed on Tuesday, but finance minister Jeremy Hunt may still hope that falling energy costs and inflation will offer leeway later this year for a pre-election tax cut. The Office for National Statistics said public sector net …

Energy bill support pushes UK budget deficit to February record Read More »

By Nora Buli and Susanna Twidale (Reuters) – British power generator Drax will pause its planned 2 billion pound ($2.45 billion) UK investment in bioenergy with carbon capture and storage (BECCS) until it receives more clarity on government support, it said on Tuesday. Drax welcomed the UK government’s recent budget support for carbon capture and …

Britain’s Drax pauses $2.5 billion biomass carbon capture plans Read More »

By Davide Barbuscia NEW YORK (Reuters) – Bond giant PIMCO lost about $340 million on a category of Credit Suisse bonds that were wiped out by the takeover by UBS, with the American investment manager’s overall exposure to the Swiss lender running into billions, a source familiar with the situation said. Swiss authorities on Sunday …

PIMCO lost $340 million with Credit Suisse AT1 bonds write-off – source Read More »

By Davide Barbuscia and Saeed Azhar NEW YORK (Reuters) – The decision by Swiss authorities to wipe out Credit Suisse’s Additional Tier 1 (AT1) bonds could reduce demand for this type of bonds in the long term, a Goldman Sachs strategist said, but risk of contagion across credit markets was limited due to the relative …

Goldman Sachs sees risk of ‘permanent destruction’ in demand for AT1 bonds Read More »