By Ron Bousso and Shadia Nasralla LONDON (Reuters) – The North Sea’s biggest oil and gas producer, Harbour Energy, has told the British government that Britain’s planned windfall tax on the energy sector will shrink the company’s investment in the coun…
Anticipating US downturn, Elon Musk details Tesla staff cuts
By Andrew Mills, Yousef Saba and Hyunjoo Jin DOHA (Reuters) -Elon Musk, CEO of Tesla, said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a U.S. recession was more likely than n…
Anticipating US downturn, Elon Musk details Tesla staff cuts
By Andrew Mills, Yousef Saba and Hyunjoo Jin DOHA (Reuters) -Elon Musk, CEO of Tesla, said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a U.S. recession was more likely than n…
Carrefour CEO says well placed to deal with sustained inflation
DUBLIN (Reuters) – Carrefour’s chief executive said global inflation is here to stay and that the supermarket chain is well placed to manage it due to its mix of businesses and experience in dealing with rapid inflation in South America. “We have stron…
Mexico president will ask Biden to look into WikiLeaks’ Assange case
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Tuesday he will ask U.S. President Joe Biden to address the case of WikiLeaks founder Julian Assange, saying Mexico would open its doors to him if he were released. British H…
Accor to sell 10.8% stake in Ennismore to Qatari consortium for 185 million euros
PARIS (Reuters) -French hotels group Accor is to sell a 10.8% stake in Ennismore to a Qatari consortium for 185 million euros ($195 million), the French hotels group said Tuesday. Accor said the deal valued Ennismore, known for Hoxton hotels in London …
Germany sets out ways to cut gas usage amid Russia supply crunch
By Vera Eckert and Ludwig Burger FRANKFURT (Reuters) -Germany’s energy regulator on Tuesday outlined plans to cut industrial gas usage to try to avert disruption of critical industries if Russia reduces gas supplies further. The plans, which the Econom…
BASF’s business to face downturn in second half – CEO says
FRANKFURT (Reuters) – Chemicals group BASF will be likely to face a considerable downturn early in the second half of the year because inflation will begin to weigh on consumer demand and competitors are expected to reinstate crippled supply chains, it…
European shares extend gains but recession risks hover
By Sruthi Shankar and Susan Mathew (Reuters) -European equities rose for a third straight session on Tuesday, lifted by chemical and resource-linked sectors, as last week’s brutal selloff on recession fears attracted bargain hunters. The pan-European S…
Oil ticks higher on strong demand, tight supply
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices edged up on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude futures settled 52 cents, or 0.5%, higher at…