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Germany’s PCK Schwedt refinery faces output cuts without Russian oil
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Volkswagen boosts electric car investment in Spain to 10 billion euros
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BoE flags risk of recession and 10% inflation as it raises rates again
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Lufthansa examines ITA Airways as finance data opened to bidders
EU regulator hopes to approve COVID variant-adapted vaccines by autumn
Date: May 5, 2022
(Reuters) – The European Union’s drug regulator said on Thursday it hoped to have vaccines adapted to address coronavirus variants, such as Omicron, approved by September. “Our priority is to ensure that adaptive vaccines are possibly approved by September at the latest to be ready for the rollout of new immunisation campaigns in the EU...
COVID took 15 million lives globally, not the 5 million reported – WHO
Date: May 5, 2022
By Jennifer Rigby (Reuters) -Almost three times as many people have died as a result of COVID-19 as official data show, according to a new World Health Organization (WHO) report, the most comprehensive look at the true global toll of the pandemic so far. There were 14.9 million excess deaths associated with COVID-19 by the...
Germany ramps up capacity for LNG imports to replace Russian gas
Date: May 5, 2022
(Inserts dropped word ‘time’ in 2nd paragraph) By Vera Eckert FRANKFURT (Reuters) -Germany took steps to ramp up liquefied natural gas (LNG) imports on Thursday as it moves away from piped Russian supply, renting four floating storage and regasification units (FSRUs) and choosing the North Sea port of Wilhelmshaven as the first handling hub. Demand...
UniCredit surprises with buyback as it tackles Russia exit
Date: May 5, 2022
By Valentina Za MILAN (Reuters) -UniCredit cheered investors by saying it would soon start a 1.6 billion euro ($1.7 billion) share buyback put at risk by the Ukraine war, even as it set aside almost as much to cover the cost of quitting Russia. One of Europe’s banks most exposed to Russia, UniCredit said the...
Exclusive-Germany begins filling western Europe’s biggest gas storage site
Date: May 5, 2022
By Vera Eckert, Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Germany has started filling the huge Rehden gas storage facility abandoned by Russia’s Gazprom, the site’s state-appointed manager said on Thursday, as Europe’s biggest economy looks to guard against the risk of Moscow turning off supplies. Russian gas is vital to Europe and Germany in...
No messing around, central banks ramp up inflation fight
Date: May 5, 2022
LONDON (Reuters) – In a race to get on top of surging inflation, central banks in the United States, Britain and Australia, all jacked up interest rates this week. Stubbornly high inflation also prompted Iceland to lift rates by one percentage point on Wednesday, and India delivered an unscheduled rate rise. Some, such as the...