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Portuguese airline TAP swings to profit earlier than expected
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Energy bill support pushes UK budget deficit to February record
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KKR sells 50% stake in Spain’s X-elio to partner Brookfield
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Maserati aims at driving margins higher before any spin-off talk
Dollar pauses for breath as Fed swings into focus
Date: March 21, 2023
By Rae Wee SINGAPORE (Reuters) – The dollar steadied in a holiday-thinned Asia session on Tuesday, though it struggled to lift far from five-week lows as traders reckoned banking stress would keep the Federal Reserve from hiking rates much further, or at all, later in the week. The greenback ticked about 0.1% higher to $1.0712...
SSE to invest $122 million in Scottish pumped hydro project
Date: March 21, 2023
LONDON (Reuters) – British power generator SSE will invest 100 million pounds ($122 million) in a Scottish pumped hydro scheme which could help boost the country’s energy storage capacity, it said on Tuesday. Pumped hydro plants work by pumping water uphill to a higher reservoir before releasing it to enable water to flow downhill through...
EU’s EIB to override Turkey lending ban with earthquake aid
Date: March 21, 2023
By Marc Jones LONDON (Reuters) -The European Union’s lending arm, the European Investment Bank, is to temporarily override its near 4-year long ban on financing in Turkey to provide 500 million euros ($540 million) for the country’s post-earthquake rebuilding efforts. The EIB stopped virtually all lending in Turkey after a row over oil and gas...
U.S. oil exports to Europe hit record in March on steep discounts
Date: March 21, 2023
By Arathy Somasekhar HOUSTON (Reuters) – U.S. crude exports to Europe have hit a record 2.1 million barrels per day on average so far this month, spurred by wide discounts to the global benchmark and weaker oil demand by U.S. refineries. Record exports to Europe and China this month reflect the rise of United States...
Scratched EV battery? Your insurer may have to junk the whole car
Date: March 20, 2023
By Nick Carey, Paul Lienert and Sarah McFarlane LONDON/DETROIT (Reuters) -For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing insurance companies to write off cars with few miles – leading to higher premiums and undercutting gains from going electric. And now those battery packs...
Bank shares rise after Credit Suisse rescue eases crisis
Date: March 20, 2023
By Amanda Cooper and John Revill (Reuters) -U.S. banking stocks rose on Monday and Europe’s lenders recovered from a sharp early sell-off after UBS Group’s state-backed takeover of Credit Suisse appeared to close off one source of worry for the global banking sector. In a package engineered by Swiss regulators on Sunday, UBS Group AG...