Spain, Morocco seek reset of testy relationship at Rabat summit

Spain, Morocco hold first summit in eight years Relations long strained by illegal migration issue Expected to sign up to 20 agreements on trade, investment RABAT, Feb 2 (Reuters) – Spain and Morocco have agreed to set aside their differences, Spanish Prime Minister Pedro Sanchez said on Thursday, as they seek to repair a relationship … Read more

Putin evokes Stalingrad to predict victory over ‘new Nazism’ in Ukraine

Russian president speaks in Volgograd 80 years have passed since the Soviet victory in Stalingrad Putin draws parallels with Russia’s campaign in Ukraine This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. VOLGOGRAD, Russia, Feb 2 (Reuters) – President Vladimir Putin evoked the spirit of the Soviet … Read more

Asset managers, banks call on EU to cost plans to grab euro clearing from London

LONDON, Feb 2 (Reuters) – Asset managers, hedge funds and banks on Thursday called on the European Union to properly cost its plans to force market participants to shift derivatives clearing business from London to mandatory accounts in the bloc. London Stock Exchange Group’s LCH and ICE in London have long dominated parts of the … Read more

Airbus and Qatar Airways settle bitter A350 jet row

PARIS, Feb 1 (Reuters) – Airbus ( AIR.PA ) and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable and mutually agreeable settlement” ends a $2 … Read more

Morning bid: Markets go all in for disinflation

SYDNEY, Feb 2 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still … Read more

Exclusive: EV maker Rivian to cut 6% of jobs amid price war – internal memo

SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry -wide price war. The company is focusing resources on ramping up vehicle production and reaching … Read more

Erdogan says Turkey positive on Finland’s NATO bid, not Sweden’s

ANKARA, Feb 1 (Reuters) – Turkey looks positively on Finland’s application for NATO membership, but does not support Sweden’s bid, Turkish President Tayyip Erdogan said on Wednesday. “Our position on Finland is positive, but it is not positive on Sweden,” Erdogan said of their NATO applications in a speech to his AK Party deputies in … Read more

Markets ‘overpricing’ Indian banks’ risk from Adani exposure – Societe Generale

SINGAPORE, Feb 1 (Reuters) – Markets are “overpricing” the risk to Indian lenders from their exposure to Adani Group, which was targeted last week in a report by short-seller Hindenburg Research, Societe Generale said, adding that a sell-off in banking shares seems overdone. India’s Nifty Bank index (.NSEBANK) lost as much as 7.7% to hit … Read more

Irish manufacturing ekes out growth in Jan as confidence builds – PMI

DUBLIN, Feb 1 (Reuters) – Irish manufacturing activity showed growth in January after two months of contraction, boosting confidence in the sector as cost pressures also eased markedly, a survey showed on Wednesday. The AIB S&P Global manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 from 48.7 in December. The November-December contraction was the first … Read more

Exxon smashes Western oil majors’ profits with $56 billion in 2022

HOUSTON, Jan 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own … Read more