Support for EU freedom of movement rules ‘eroding’

One of the most senior Dutch government ministers has said a fundamental EU principle, freedom of movement, needs to be radically reformed. Deputy prime minister Lodewijk Asscher said support was falling across Europe over the way it has been implemented. Free movement, which allows any citizen of an EU country to work anywhere across the bloc, had led… Read More »

Fiat Chrysler and Renault face diesel emissions probes

The UK Department for Transport has asked for details of a US probe into Fiat Chrysler diesel emissions software as a matter of urgency. The car maker has been accused of not telling authorities about software that could allow excess diesel emissions. The US Environmental Protection Agency (EPA) said 104,000 Jeep Grand Cherokees and Dodge Ram trucks were… Read More »

SpiceJet in deal to buy 205 Boeing planes

Indian airline SpiceJet has agreed to buy up to 205 new planes from Boeing – potentially worth $22bn (£18bn). The deal includes a firm order for 100 new planes, 55 from a earlier contract and the right to buy a further 50 jets. SpiceJet is India’s fourth largest airline, though its future looked in doubt in late 2014… Read More »

EU Brexit chief sees special care for financial service ties

The European Union’s Brexit negotiator Michel Barnier said on Saturday that the EU will demand “special vigilance” before letting British financial firms access the bloc because of the large risk London could pose to the EU’s financial stability. Responding to a report in the Guardian which said he had told EU lawmakers that he wanted a special deal… Read More »

Infosys trims revenue outlook as outsourcers brace for tighter US regime

Infosys Ltd, India’s second-biggest software services exporter, pared its full-year revenue growth outlook as it fights uncertainties in its biggest markets that could curb client spending on technology. Infosys and its rivals in India’s $150 billion software services sector have struggled in recent quarters as major clients in the United States and Europe, their biggest markets, held back… Read More »

Despite Saudi signals, OPEC unlikely to deliver all promised oil cuts

OPEC is unlikely to deliver fully on its target to cut production despite Saudi Arabia saying it had trimmed more than it had committed to, OPEC delegates say, but compliance of 80 percent would be good and as low as 50 percent acceptable. The Organisation of the Petroleum Exporting Countries is planning to cut its output by 1.2… Read More »

Tesco hails ‘strong progress’ as sales rise

Tesco has reported a rise in Christmas sales, helped by strong demand for fresh food. Christmas like-for-like sales, which strip out the impact of new store openings, grew 0.7% in the UK, and were up by 0.3% across the group as a whole. Chief executive Dave Lewis said the supermarket giant had made “sustained strong progress”. But Tesco… Read More »

M&S beats Christmas sales forecast in clothing and homeware

Marks and Spencer has reported a rise in Christmas clothing and homeware sales for the first time in two years. Sales in the division rose 2.3% – well above expectations for about 0.5%. The figures came on a bumper day for retail results, with trading updates from Tesco, John Lewis, Debenhams and Primark owner ABF. Marks and Spencer’s… Read More »

Takata shares rise on US airbag settlement reports

Shares of Japanese airbag manufacturer Takata have risen on reports it will settle a lawsuit with US regulators. The firm is expected to pay up to $1bn (£822m) and plead guilty to criminal wrongdoing over faulty airbags, which have been linked to at least a dozen deaths and more than 100 injuries. Most major carmakers have been affected… Read More »

Fiat accused over emissions software

Fiat Chrysler has been accused of not telling authorities about software that regulates emissions in thousands of its diesel vehicles. The US Environmental Protection Agency (EPA) said the company broke the law by installing, but failing to disclose, the technology in more than 100,000 Jeeps and Dodge vehicles. The agency said the software caused higher nitrogen oxide levels.… Read More »