BERLIN/SEOUL (Reuters) -German authorities have raided Hyundai and Kia over allegations that they put over 210,000 diesel vehicles with suspected illegal defeat devices onto the road, the Frankfurt state prosecutor’s office said on Tuesday. The announc…
S.Korea’s LGES reviews plan for $1.3 billion Arizona battery plant as U.S. inflation bites
By Heekyong Yang SEOUL (Reuters) -South Korean battery maker LG Energy Solution Ltd (LGES) plans to reassess its investment plan for a standalone Arizona battery factory due to the current U.S. economic environment, a company spokesperson said on Wedne…
UK shop prices jump by the most since 2008 – BRC
LONDON (Reuters) – British retailers raised prices at the fastest pace since 2008 this month, driven by the rapidly rising cost of food, according to industry data that showed the extent of the inflation squeeze for households. The British Retail Conso…
SAS and its pilots extend wage talk deadline
STOCKHOLM (Reuters) -Scandinavian airline SAS and its pilots have agreed, at the behest of mediators, to extend by three days a deadline for wage talks, thus postponing the risk of a strike, the carrier and labour unions said on Wednesday. “SAS welcome…
Italy’s Saipem to appeal Algerian ruling, fine over Arzew contract
MILAN (Reuters) -Italian energy services firm Saipem said it would challenge Tuesday’s decision by an Algerian court to uphold a previous ruling and fine against the company in a case centred around a natural gas contract. Saipem said in a statement th…
Turkey clears way for Finland, Sweden to join NATO – Stoltenberg
MADRID (Reuters) – Turkey has agreed to support Finland’s and Sweden’s bids for NATO membership, NATO Secretary-General Jens Stoltenberg said on Tuesday. “I am pleased to announce that we now have an agreement that paves the way for Finland and Sweden …
Fed officials promise rate hikes, push back on recession fears
(Reuters) -Federal Reserve policymakers on Tuesday promised further rapid interest-rate hikes to bring down high inflation, but pushed back against growing fears among investors and economists that sharply higher borrowing costs will trigger a steep do…
Spain’s Santander hires Credit Suisse, Goldman to look at Citibanamex bid – sources
By Jesús Aguado MADRID (Reuters) – Spain’s Santander has hired Credit Suisse and Goldman Sachs to look at a potential bid for Citibanamex, Citigroup’s retail bank in Mexico, two sources familiar with the process said on Tuesday without providing furthe…
France cuts growth outlook, but sticks to budget target – ministry
PARIS (Reuters) – France’s government cut its growth outlook sharply on Tuesday but kept its budget deficit forecast steady despite billions of extra spending on anti-inflation measures thanks to stronger than expected tax revenues. The finance ministr…
Lufthansa’s Swiss unit to cut 2% of flights between August and October
FRANKFURT (Reuters) – Deutsche Lufthansa’s Swiss business said on Tuesday it would cut about 2% of its flights scheduled between August and October because of labour shortages, strikes and rising COVID-19 infections. Swiss International said in a state…