Benelux

Battery maker Automotive Cells Business (ACC) is set to sign a brand-new loan to fund the second production block of its gigafactory in northern France, a. business representative stated, as it increases output in spite of Europe's. slow electric car market. The loan, guaranteed by ACC's 2 primary investors, automobile. makers Stellantis and Mercedes-Benz Group,. deserves around 1 billion euros ($ 1.05 billion), two sources. knowledgeable about the matter said, verifying a report by paper. Les Echos. Stellantis and Mercedes did not react to ask for. comment. Smaller sized investor TotalEnergies decreased to. comment. The factory already operates one production...

Stellantis and Chinese battery maker CATL will invest 4.1 billion euros ($ 4.33 billion) in a factory making electrical vehicle batteries in Zaragoza in northern Spain, they said in a. declaration on Tuesday. They have set up a 50-50 joint venture for the job and. expect to start production by the end of 2026. The capability at the plant might reach 50 gigawatt hours,. depending upon the advancement of the market for electric lorries. in Europe and on assistance from European and Spanish authorities,. they said. The endeavor would bring innovative battery production to a. producing website that is currently...

The European Space Firm delayed Wednesday's planned launch of its Proba3 mission, aboard the Indian space agency's essential rocket, to observe the sun because of a technical problem and stated it would now go on on Thursday. The Proba-3, a two-satellite system developed over more than a years and costing about 200 million euros ($ 210 million), is set to be launched from the Satish Dhawan Area Centre in India. Utilizing the Indian area firm's flagship Polar Satellite Launch Lorry launch rocket, the mission is meant to advance international efforts to understand and reduce the economic and technological dangers of...

The following are the leading stories on the business pages of British papers. Reuters has not confirmed these stories and does not guarantee their precision. The Times - National Health Providers managers have alerted that important services will be cut back and A&E departments danger being turned into battle zone to strike a target for routine operations that Sir Keir Starmer will put at the centre of his prepare for federal government today. - Stellantis CEO Carlos Tavares resigned quickly on Sunday, two months after a profit caution at the maker of Jeep, Fiat and Peugeot vehicles that has lost...

Australialisted Vulcan Energy is in talks with lithium companies to licence its filtering technology, tapping a brand-new profits source as the firm commercialises its renewableenergy job in Germany, the CEO stated on Tuesday. Vulcan started producing lithium hydroxide previously this month from its Rhine Valley operations utilizing adsorption direct lithium extraction (A-DLE) - utilizing geothermal heat to extract lithium from brine deposits. DLE is expected to reshape the lithium market by speeding the production procedure of the metal used in EV batteries and electronic devices to hours or days, compared with months or longer. Vulcan has signed up with the...

Below are companyrelated news and stories from France and Benelux which might have an influence on the area's markets or specific stocks. POLICE 29 Controversial COP29 deal reveals environment cooperation tearing at edges CARREFOUR Brazilian meatpackers have actually apparently stopped supplying meat to the group in Brazil after the retailer's worldwide CEO promised to keep South American meat off its shelves in France in solidarity with French farmers CTP Places EUR 500 mln green bond and EUR 200 mln tender deal SANOFI Strategies to change medical facility drug-discount program, WSJ reports THALES Two people knowledgeable about a corruption probe by...

Dutch and British wholesale prices hovered near annual highs on Friday as fresh U.S. sanctions on Russia's Gazprombank raised worries over remaining gas materials from Russia and as cold temperatures resulted in drawdowns in European gas stores. The benchmark front-month agreement at the Dutch TTF hub was down 0.15 euro at 48.45 euros per megawatt hour ( MWh), or $14.81/ mmbtu, by 0910 GMT, having touched a fresh 1 year high of 48.90 euros/MWh in earlier trade. In Britain, the front-month agreement rose 0.13 pence to 121.22 p/therm, also near to the intraday yearly high of 121.48 p/therm reached on...

Telecoms group VEON is considering a going public (IPO) for its Ukrainian unit Kyivstar in the U.S. as early as next year, CEO Kaan Terzioglu said on Thursday. We have not made those decisions yet, however we are dedicated to looking into IPOs of our local properties. And clearly, Kyivstar is one of those properties which might be in the line of this procedure, Terzioglu told Reuters in an interview. Ought to the IPO go through, Kyivstar would become the first Ukrainian business to be listed in the United States. VEON has actually not had any conversations with Ukrainian officials...

Below are companyrelated news and stories from France and Benelux which could have an effect on the area's markets or private stocks. ALSTOM: French train maker Alstom on Wednesday reported outcomes for the first half of the year, beating cash outflow expectations at 138 million euros ($ 146 million). EIFFAGE: French building group and motorway operator Eiffage reported a 4.6% like-for-like increase in its third-quarter revenue on Wednesday. ENGIE: Engie and Carmeuse announced, on Wednesday, the termination of their Columbus job for financial and regulatory factors. LVMH: Named Cecile Cabanis as CFO. MONTEA: Montea launched a share buy-back program, on...

The following are the leading stories on the business pages of British newspapers. Reuters has not validated these stories and does not attest their precision. The Times - French paper Le Monde said it was part of a joint legal action taken by French documents consisting of Le Figaro, Le Parisien and Les Echos against social media platform X for allegedly using their content without paying, and for violating publishing rights. - British shoppers dealt with restored pressure on their spending plans in October after grocery cost inflation edged higher for the second month in a row. The Guardian -...

A Dutch court will choose on Tuesday whether to uphold a landmark environment judgment against Shell, which in 2021 ordered the oil and gas business to greatly lower greenhouse gas emissions. The judgment by The Hague district court purchased Shell to cut its absolute carbon emissions by 45% by 2030 compared to 2019 levels, including those caused by the use of its items. The appeals court in The Hague can either uphold or dismiss the entire ruling, or it can customize it, for instance by omitting emissions triggered by Shell's customers. The judgment comes as the COP29 climate summit occurs...

A Dutch court will decide on Tuesday whether to support a landmark climate ruling against Shell, which in 2021 bought the oil and gas business to sharply reduce greenhouse gas emissions. The judgment by The Hague district court purchased Shell to cut its absolute carbon emissions by 45% by 2030 compared to 2019 levels, consisting of those brought on by the use of its products. The appeals court in The Hague can either uphold or dismiss the whole ruling, or it can modify it, for example by excluding emissions triggered by Shell's consumers. The judgment comes as the COP29 climate...

Stellantis will keep all of its Italian factories open and increase output from 2026 thanks to the launch of brand-new designs, it stated on Tuesday, as part of a handle the federal government targeted at revitalising Italy's. automotive industry. For its part, Industry Minister Adolfo Urso vowed the. federal government would spend more than 1 billion euros ($ 1.1 billion). next year to support Italy's vehicle supply chain. Rome does not intend to invest the state money to subsidise. the purchase of cars and trucks in 2025, as it did this year. Urso was hosting a meeting with representatives of....

India is most likely to enforce a protect responsibility or short-lived tax of as much as 25% on steel imports, industry and federal government sources stated, to help to curb low-cost imports from leading manufacturer China. The proposal acquired broad assistance at a meeting chaired by commerce minister Piyush Goyal on Tuesday after small industries dropped initial opposition once they received assurances that they would not be struck by greater steel prices. It seems the secure duty will be imposed after an examination, likely finished within a month, stated an industry authorities who attended the conference. To attend to concerns...

Huawei's new Mate 70 smart device consists of a chip whose style reveals only an incremental improvement over its predecessor and, contrary to some expectations, was made using the 7 nanometer (nm) procedure node, consultancy TechInsights said on Wednesday. The consultancy stated a teardown it conducted of the Mate 70 Pro+ discovered that it contains a Kirin 9020 processor that was produced by Chinese chip foundry Semiconductor Manufacturing International Corporation (SMIC), comparable to the Kirin 9010 processor in Huawei's development Mate 60 Pro. The lack of major modifications ran counter to rumours that the phone would consist of a chipset...

The head of a powerful labour union opposing U.S. Steel's sale to Japan's Nippon Steel said he has actually not received guarantees that the wouldbe owners are devoted to making sure the enduring success of the strategic U.S. company. Nippon Steel's $15 billion takeover quote has actually been criticised by both President Joe Biden and President-elect Donald Trump and undergoes a nationwide security evaluation later on this month by the deceptive federal government panel CFIUS. David McCall, the head of the United Steelworkers union, spoke with Reuters on Monday as Nippon Steel published details of the various commitments it has...

Canada's McEwen Copper is hunting for financiers to raise $2.5 billion to move on with building of Los Azules copper mine in Argentina, company Vice President Michael Meding stated in an interview. McEwen Copper, part of McEwen Mining, is among numerous international companies seeking to draw out copper in the mountains of northern Argentina, an area mostly untapped for the product due to the nation's hard capital controls and volatile economy. A reward program under President Javier Milei is now spurring activity, including from significant gamers such as miner BHP, after the nation's only copper mine closed in 2018. Los...

New automobile sales in Europe were flat in October, after succumbing to 2 consecutive months, market data revealed on Thursday, while the shift to totally electric or hybrid models picked up speed in the month. An uptick in overall sales in Spain and Germany, of 7.2% and 6% respectively, balance out a contraction in France, Italy and Britain, the European Car Manufacturers Association ( ACEA) stated. WHY IT'S IMPORTANT European automakers are battling with weak demand, high production expenses, and managing the shift to EVs, while attempting to fend off competition from China. BY THE NUMBERS The variety of new...

India's imports of steel over the period from April to September were led by shipments from China, according to provisional government information evaluated by Reuters on Friday, and the South Asian country stayed an internet importer of the alloy. The world's second-biggest manufacturer of unrefined steel imported 4.7 million metric lots of the ended up metal from April to September, up 42.2% from a year ago, the information revealed. China exported 1.4 million metric lots of steel to India throughout the duration, up 36.7% from a year back. Hot-rolled coil was India's most significant import, comprising 44% of general completed...

ArcelorMittal, the world's. secondlargest steelmaker, might more than double annual. production by at least 3 million metric lots in wartorn Ukraine. if the scenario stabilises there, the steelmaker's Chief. Financial Officer Genuino Christino told investors during a. quarterly teleconference on Thursday. Christino did not elaborate on what conditions the company. would need to improve production. The Luxembourg-based company operates a steel plant in the. city of Kryvyi Rih that is running at 40% of capacity. The. plant presently produces 500,000 tons of steel on a quarterly. basis. Given that Russia's full-scale invasion of Ukraine in 2022, the. plant had been...

ArcelorMittal, the world's. secondlargest steelmaker, on Thursday reported thirdquarter. core earnings above market expectations, as enhancement in its. Brazil business partially balanced out weaker lead to The United States and Canada. and Europe. The Luxembourg-based business stated its profits before. interest, taxes, depreciation and amortisation (EBITDA) rose to. $ 1.58 billion in the quarter, down 15% from a year previously, however. ahead of an agreement quote of $1.49 billion provided by the. business. Apparent need is anticipated to be more powerful in the 2nd. half of this year compared with 2023, and inventory levels are. low, suggesting that re-stocking will...

Below are companyrelated news and stories from France and Benelux which could have an effect on the area's markets or specific stocks. GERMAN POLITICS: Germany's judgment union collapsed on Wednesday as Chancellor Olaf Scholz sacked his finance minister and paved the method for a breeze election, setting off political mayhem in Europe's. largest economy hours after Donald Trump won the U.S. presidential election. JET: Taiwan's China Airlines is nearing a decision to. split a multi-billion-dollar order for long-distance traveler. jets in between Plane and Boeing, while an order for trucks. hangs in the balance, market sources told Reuters. AMG: AMG...

India's steel ministry favours a temporary tax to curb rising steel imports, a senior official with direct understanding of the matter stated, as it seeks to safeguard steelmakers reeling from a rise in more affordable Chinese imports. A temporary protect task would assist suppress Chinese imports, and a procedure to enforce the responsibility would start quickly, stated the official, who asked for privacy as the considerations are not public. India, the world's second-biggest crude steel manufacturer, ended up being a net importer of the alloy in the fiscal year to March 31, 2024, and the pattern has actually continued since...

Tanzania's primary opposition celebration has called for telecoms firm Tigo to react to a previous staff member's accusation that the company helped the government track the place of a challenger who was later on targeted in a. stopped working assassination effort. A former employee at Tigo's moms and dad company, Millicom,. told a British court this month that Tigo had shared mobile. phone information with the federal government revealing the area of. opposition lawmaker Tundu Lissu in the weeks before the attack. Lissu's vehicle was sprayed with bullets in September 2017 by. unidentified opponents, according to court filings seen ....