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Russia warns West over risk of conflict with NATO
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Bouygues remains ‘vigilant’ about indirect cost hit from Ukraine conflict
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EU’s mutual defence clause can be safeguard during NATO accession, Finland says
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FACTBOX-Steps in Finnish, Swedish NATO bids
Siemens to leave Russia due to Ukraine war, take hefty charge
Date: May 12, 2022
By John Revill ZURICH (Reuters) -Siemens will quit the Russian market due to the war in Ukraine, it said on Thursday, taking a 600 million euro ($630 million) hit to its business during the second quarter, with more costs to come. The German industrial and technology group became the latest multinational to announce losses linked...
Zurich expects to exceed all 2022 financial targets
Date: May 12, 2022
By Carolyn Cohn and Silke Koltrowitz ZURICH/LONDON (Reuters) -Zurich Insurance said on Thursday it expects to exceed all its 2022 financial targets, as it reported a double-digit first-quarter rise in premiums and said its losses from the Ukraine conflict were likely to be immaterial. Zurich, Europe’s fifth-largest insurer, set out three-year targets in Nov 2019,...
BoE is not yet done with rate hikes, Ramsden says
Date: May 12, 2022
LONDON (Reuters) -The Bank of England will have to push borrowing costs higher to control fast-rising inflation and there are risks that inflation pressures from rising wages will prove stronger than the BoE thinks, Deputy Governor Dave Ramsden told Bloomberg News. “I don’t think we’ve gone far enough yet on Bank Rate, but I do...
Chinese city offers Nobel Prize winners $1.5 million housing subsidies
Date: May 12, 2022
BEIJING (Reuters) – The industrialised Chinese coastal city of Wuxi is offering Nobel Prize winners up to 10 million yuan ($1.48 million) in housing subsidies to attract top talent in a national economy that is shifting towards innovation-driven development. In recent years, big cities across China including rising tech hubs in the country’s interior have...
Veolia protected from inflation via indexed water contracts
Date: May 12, 2022
PARIS (Reuters) – French water and waste group Veolia is shielded from the resurgence of inflation as its water contracts are indexed to the cost of living, CEO Antoine Frerot said, as the company reported first-quarter results. Consolidating for the first time the activities of former rival Suez, which it bought in April 2021, Veolia’s...
One-off trading gains boost Piraeus Bank’s Q1 earnings
Date: May 12, 2022
By George Georgiopoulos ATHENS (Reuters) -Greek lender Piraeus Bank on Thursday reported a sixfold jump in first quarter net earnings from last year’s fourth quarter, boosted by strong trading income. Greece’s fourth-largest lender by market value reported net profit from continued operations of 521 million euros ($547 million) after a profit of 78 million euros...