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New Zealand Marks Queen Elizabeth’s Passing on National Day of Mourning
Date: September 26, 2022
SYDNEY (Reuters) – Prime Minister Jacinda Ardern led a state memorial service for Queen Elizabeth II on Monday, saying the Pacific nation has had “a deep connection” with her as New Zealand paid tribute to the late monarch. Hundreds watched the state memorial service outdoors on the screens set on the Parliament grounds in Wellington,...
Societe Generale Says Two Senior Executives to Leave Bank
Date: September 23, 2022
PARIS (Reuters) -Societe Generale, which is seeking a new chief executive, said on Friday two senior female executives would be stepping down before the end of the year. France’s third-biggest listed bank said Chief Risk Officer Sadia Ricke would leave on Nov. 30 and Caroline Guillaumin, the head of human resources and communication, would quit...
Banks Face Legal Risks if They Don’t Stick to Climate Goals, ECB Says
Date: September 22, 2022
FRANKFURT (Reuters) – Banks face the risk of being sued if they don’t stick to their climate goals or try “greenwashing” their image, a top European Central Bank (ECB) supervisor said on Thursday. Major Wall Street banks have threatened to leave United Nations climate envoy Mark Carney’s financial alliance because they fear its strict requirements...
Uniper’s Rocky Road to German Nationalisation
Date: September 21, 2022
(Reuters) – Germany’s government announced steps on Wednesday to nationalise gas importer Uniper, brought to its knees after long-term Russian partner Gazprom withheld exports in the wake of Russia’s invasion of Ukraine. Russia closed the important Nord Stream 1 export pipeline into Germany three weeks ago, saying Western sanctions were hindering operations. European politicians say...
Germany Takes Over Uniper, Raising Rescue Bill to $29 Billion
Date: September 21, 2022
By Kirsti Knolle and Anne Kauranen BERLIN/HELSINKI (Reuters) -Germany said on Wednesday it had agreed to nationalise Uniper, raising the bill to rescue the gas importer to 29 billion euros ($28.7 billion) amid an escalating energy crisis that shows just how much Europe’s top economy has relied on Russian fuel. The deal brings the total...
In Germany, Energy Price Shock Triggers Fears of Insolvency Wave
Date: September 20, 2022
By Marta Orosz and Alexander Hübner FRANKFURT/MUNICH (Reuters) – Hakle has been a German household name since 1928, but the Duesseldorf-based toilet paper manufacturer said all it took was this summer’s gas price shock to drive it into insolvency. Energy-intensive firms such as Hakle were particularly vulnerable after Russian gas supply cuts to Europe, which...