By Victoria Waldersee BERLIN (Reuters) – BMW lowered its output forecast and warned of a highly volatile second half on Wednesday, pinpointing supplies of energy in Europe and chips worldwide as the two crucial factors to the carmaker hitting full-year…
Exclusive-Germany’s gas levy cannot be implemented as planned, say sources
BERLIN (Reuters) – The German government will have to amend its energy security law again in September as its gas levy cannot yet be imposed on all consumers, including those with fixed prices contracts, government and parliamentary sources told Reuter…
Insurer AXA’s H1 net profit edges up 3%, Ukraine war impact seen at 300 million euros
PARIS (Reuters) – French insurance company AXA’s first-half net profit rose three percent as higher revenues from damages and health insurance outweighed the financial impact of the war in Ukraine. AXA, Europe’s second-biggest insurer behind Germany’s …
Pelosi pledges solidarity with Taiwan as China holds military drills, vents anger
By Yimou Lee and Sarah Wu TAIPEI (Reuters) -China furiously condemned the highest-level U.S. visit to Taiwan in 25 years as House of Representatives Speaker Nancy Pelosi hailed the self-ruled island as “one of the freest societies in the world” and ple…
Former German chancellor Schroeder says Ukraine grain deal may pave way for ceasefire
By Can Sezer and Orhan Coskun ISTANBUL/LONDON (Reuters) -The deal between Moscow and Kyiv to unblock Ukrainian grain exports may offer a way forward to a possible ceasefire in the five-month conflict, said former German chancellor Gerhard Schroeder, a …
PayPal shares jump on Elliott’s $2 billion stake, annual profit guidance raise
By Mehnaz Yasmin (Reuters) – PayPal Holdings on Tuesday said activist investor Elliott Management has an over $2 billion stake in the fintech company and the firm raised its annual profit guidance. PayPal shares shot up nearly 12% after it also announc…
AMD posts Q3 sales outlook below Wall St, data center growth remains strong
By Yuvraj Malik and Jane Lanhee Lee (Reuters) -Advanced Micro Devices Inc on Tuesday forecast third-quarter revenue slightly below Wall Street estimates, a signal of uncertainty that concerned some investors after the company stock made huge gains in J…
First grain ship to leave Ukraine anchors off Turkish coast
By Orhan Coskun and Can Sezer ISTANBUL (Reuters) -The first grain-carrying ship to leave Ukrainian ports in wartime safely anchored off Turkey’s coast on Tuesday, while a senior official said Ankara expects roughly one grain ship to depart from Ukraine…
Yen extends recent gains as tensions over Pelosi visit to Taiwan grow
(Corrects spelling of Taiwan in headline) By Caroline Valetkevitch NEW YORK (Reuters) -The yen was up slightly against the dollar Tuesday, adding to recent gains as increasing tensions over U.S. House of Representatives Speaker Nancy Pelosi’s planned v…
UK leadership favourite Truss U-turns on pay plan in first big misstep
By Andrew MacAskill, Kylie MacLellan and David Milliken LONDON (Reuters) -British foreign minister Liz Truss, the frontrunner to replace Boris Johnson as prime minister, was forced to backtrack on one of her most striking pledges a day after announcing…