Page 3 - European Markets

Hero MotoCorp to foray into European market with EV range next year

The world's leading two-wheeler maker Hero MotoCorp on Tuesday said it will foray into the European market with its electric scooter range next year. The company plans to introduce the VIDA V1 electric scooter range in Spain, France and the UK by mid-2024. "With this foray into Europe with our electric vehicles, I am confident that Hero MotoCorp will soon emerge as a trusted brand in key markets in the region, just as it has done in other parts of the world," Hero MotoCorp Executive Chairman Pawan Munjal said at EICMA motor show here. The company's philosophy to have a clean, equitable and hospitable planet for future generations is enacted through its products, and services, he added. Hero MotoCorp CEO Niranjan Gupta said the company is collaborating with credible partners in the UK, Spain, and France to start commercial operations in each of these markets by mid 2024. "We will first introduce our electric scooter VIDA V1 in these countries and then expand our offerings with ...

CIE Automotive India results: Profit up 11%, revenue low in Europe segment

Weak demand for cars in CIE's key Europe market, which analysts say brings higher margins, also saw overall revenue rise just 2.2% - its slowest growth in five quarters

As business from West takes a hit, Indian IT firms explore African market

As things stand, the African continent holds a relatively small share of less than five per cent in the global IT outsourcing

Wipro sharpens its focus on the European market, sees high potential

Wipro CEO & MD Thierry Delaporte said the potential was really good as regions like South Europe or Nordics were growing at more than 20%

Sensex, Nifty log biggest gains in three months amid supportive global cues

According to experts, apart from the positives on the overall macro level, the jubilation in the market was driven by positive data from the US

European stocks rise ahead of US inflation data, ECB and US Fed meeting

LONDON (Reuters) -European stocks rose in early trading on Monday and world stocks were just below 13-month highs ahead of key inflation data and U.S. Federal Reserve and European Central Bank meetings later in the week.

European shares rise after Asia drops over US banks, China growth worries

European benchmarks rose Friday after Asian shares mostly declined on looming worries over US banks and lagging demand from China, the region's major driver of growth. France's CAC 40 rose 1.0 per cent in early trading to 7,451.96. Germany's DAX added 0.6 per cent to 15,931.25. Britain's FTSE 100 gained 0.5 per cent to 7,767.52. US shares were set to drift higher with Dow futures up 0.4 per cent to 33,507.00. S&P 500 futures added 0.4 per cent to 4,160.50. Oil prices fell while currencies traded in a narrow range. Asian equities struggled for direction after weak inflation data in China pointed to weakening demand, said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth following an initial jump after the nation dropped pandemic-related restrictions, he said. Japan's benchmark Nikkei 225 gained 0.9 per cent to finish at 29,388.30 as companies like Nissan Motor Co. ..

Fed up with returns, Europeans drain billions from banks: Report

The trend emerged as some of the region's biggest lenders outlined a profitable start to the year in results that also offered a glimpse of a phenomenon dubbed a "bank walk"

No significant impact of Esma ban, say domestic clearing corporations

Industry sources said that as of Tuesday, the European banks continued to use the clearing and settlement services of the CCIL

Exporting into a world with carbon tax

Policymakers should help embed India in the growing presence of this tax worldwide

How Russian oil is still powering Europe's cars with help from India

Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler's data show

Europe's inflation eases to 6.9% as energy prices fall, food still up

Inflation in the 20 countries that use the euro currency slowed to 6.9 per cent in March, the lowest level in a year, with food costs still on the rise while energy prices fell, making a sharp turnaround after months of punishing increases. Consumer prices in the eurozone dropped from the 8.5 per cent recorded in February, according to data released Friday by the European Union's statistics agency, Eurostat. The inflation has dropped to its lowest level in a year since since peaking at 10.6 per cent in October. But prices for food, alcohol and tobacco rose by a painful 15.4 per cent, faster than the previous month's 15 per cent, in a sign that European consumers are still getting squeezed. Energy prices, however, fell 0.9 per cent an abrupt change of direction after rising at double-digit rates over the past year. Russia's war in Ukraine pushed up prices for natural gas used to heat homes and generate electricity, fueling overall inflation, but the latest reading indicates that a

Euro, sterling fall sharply against dollar amid jitters over European banks

Risk aversion also sent sterling 0.6% lower to $1.2214, despite data showing the British economy was set to grow in the first quarter and confidence was growing

European bank stocks under pressure; Credit Suisse tumbles to a new low

Investors rushed back into safe-havens, with two-year German bond yields down 21 basis points at 2.71%

Ukraine, Latvia agree to Ukraine's Euro, Euro-Atlantic integration

Ukrainian President Volodymyr Zelensky and his visiting Latvian counterpart, Egils Levits, have signed a joint declaration confirming Latvia's support

European shares struggle, bond yields jump after bright economic data

Euro zone business activity gathered steam, expanding much faster than thought, according to a survey, buoyed by a growth in services even as the manufacturing sector shrank

Statsguru: A year later, effects of Russia-Ukraine war on global economy

European and Indian stocks are both higher today than when the conflict began

Ford to cut 3,800 jobs over next 3 years in Europe, mostly in Germany, UK

Ford said Tuesday that it will cut 3,800 jobs in Europe over the next three years in an effort to streamline its operations as it contends with economic headwinds and increasing competition on electric cars. The automaker said that 2,300 jobs will go in Germany, 1,300 in the UK and 200 elsewhere on the continent. It said that its strategy to offer an all-electric fleet in Europe by 2035 is unchanged and that production of its first European-built electric car is due to start later this year. The company said it is looking for a leaner, more competitive cost structure for Ford in Europe. It said that it will embark on consultations with the intent to achieve the reductions through voluntary separation programmes. Ford aims to cut 2,800 of the jobs in engineering by 2025, a result of the transition to electric cars that are less complex, though it plans to keep around 3,400 engineering jobs in Europe. The remaining 1,000 jobs will be cut on the administrative side. These are difficu

Spotify, 7 other firms call on European regulators to crack down on Apple

Audio streaming platform Spotify and 7 other European companies are calling on European Commission to take "swift and decisive action" against Apple over 'anti-competitive' and 'unfair' practices

European stock indexes rise on 'soft landing' hopes, China reopening

The euro was up 0.3% at around $1.0673, versus a 1.2% jump on Friday