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Renault swings to profit on EVs despite rise of Chinese rivals

Renault swings to profit on EVs despite rise of Chinese rivals

By Gilles Guillaume PARIS, July 29 (Reuters) - Renault posted a 9.4% rise in first-half revenue on Wednesday and swung back to profit thanks to strong electric vehicle sales, as it withstood growing pressure from incumbent rivals and Chinese newcomers on car prices across Europe.
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Germany Considers Dedicated Launch Facility for Armed Forces to Ensure Satellite Deployment

Germany Considers Dedicated Launch Facility for Armed Forces to Ensure Satellite Deployment

Germany is exploring the possibility of establishing a dedicated launch facility for its armed forces to ensure that military satellites can be deployed without competing with commercial payloads. This consideration was announced by German Defence Minister Boris Pistorius during a visit to Isar Aerospace's facilities near Munich. Pistorius highlighted that existing European launch capacities, including those in Norway and the UK, are insufficient to meet future demands. The proposal is in its early stages, and while a specific location for the facility has not been identified, it may not necessarily be on German soil. The idea is to prevent national security missions from being delayed by commercial launch queues.
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Mercedes gets shares boost on stable second quarter despite China woes

Mercedes gets shares boost on stable second quarter despite China woes

By Rachel More BERLIN, July 28 (Reuters) - Shares in Mercedes-Benz got a boost on Tuesday after cost cuts helped stabilise profit in the second quarter, with further measures planned at its German plants, but intense Chinese competition cast a shadow over its core business.
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Volkswagen Launches Affordable ID. Polo EV Amidst Strong Pre-Orders

Volkswagen Launches Affordable ID. Polo EV Amidst Strong Pre-Orders

Volkswagen Launches Affordable ID. Polo EV Amidst Strong Pre-Orders
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Google rivals line up seeking damages after record $1 billion EU fine

Google rivals line up seeking damages after record $1 billion EU fine

By Supantha Mukherjee and Foo Yun Chee BRUSSELS, July 28 (Reuters) - A decades-long crackdown on Google's business practices in Europe is entering a costly new phase, as the loss of the first case brought against it under new EU legislation opens the door to a wave of private lawsuits demanding up
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Google rivals line up seeking damages after record $1 billion fine

Google rivals line up seeking damages after record $1 billion fine

By Supantha Mukherjee and Foo Yun Chee BRUSSELS, July 28 (Reuters) - A decades-long crackdown on Google's business practices in Europe is entering a costly new phase, as the loss of the first case brought against it under new EU legislation opens the door to a wave of private lawsuits demanding up
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BMW to cut several thousand jobs in latest blow to German auto sector

BMW to cut several thousand jobs in latest blow to German auto sector

By Christina Amann and Rachel More BERLIN, July 29 (Reuters) - BMW said on Wednesday it will cut several thousand jobs in Germany by the end of 2027 under a voluntary redundancy programme, the latest German carmaker to axe staff in response to squeezed profits and weak demand.
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European bank rally rolls on as Deutsche Bank, UBS report profit jump

European bank rally rolls on as Deutsche Bank, UBS report profit jump

By Tom Sims, Ariane Luthi and Tommy Reggiori Wilkes FRANKFURT/ZURICH/LONDON, July 29 (Reuters) - Deutsche Bank and UBS beat forecasts again with second-quarter earnings on Wednesday, buoyed by a surge in trading activity and strong retail business as Europe's lenders extend a more than two-year-long
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Exclusive-Unilever agrees two-year worker protection after $65 billion McCormick merger, memo shows

Exclusive-Unilever agrees two-year worker protection after $65 billion McCormick merger, memo shows

By Richa Naidu LONDON, July 29 (Reuters) - Unilever has agreed to protect employment terms of workers in its European and British food business for two years after the planned 2027 completion of its $65 billion merger of the unit with U.S. spice maker McCormick, according to a memo seen by Reuters.
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Cost cuts help Mercedes stabilise profit but China woes loom

Cost cuts help Mercedes stabilise profit but China woes loom

By Rachel More BERLIN, July 28 (Reuters) - Mercedes-Benz posted a higher profit in the second quarter helped by tough cost cuts, pushing its shares up on Tuesday, but intense Chinese competition dented the outlook for car sales and revenue.
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Bank of England to keep rate steady despite oil and gas price rebound

Bank of England to keep rate steady despite oil and gas price rebound

By David Milliken LONDON, July 27 (Reuters) - The Bank of England looks set to keep interest rates unchanged at 3.75% on Thursday, despite a recent spike in oil prices above $100 a barrel which may test whether it can avoid raising borrowing costs in response to the U.S.-Iran conflict.
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Vodafone Increases Revenue Despite Customer Losses in Key Markets

Vodafone Increases Revenue Despite Customer Losses in Key Markets

Vodafone Increases Revenue Despite Customer Losses in Key Markets