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Union slams wage offer for key German industries with threat of strikes

UPDATE 2-Union slams wage offer for key German industries with threat of strikes Employers propose 3.6% rise vs union demand of 7% Siemens, BMW, Mercedes involved in talks Strikes possible from Oct. 29 Updates throughout with formal offer, background, quotes from union and employers' side By Ilona Wissenbach and Alexander Hübner NUREMBERG, Germany, Oct 15 (Reuters) - G ermany's largest industrial union slammed a proposed pay rise for almost 4 million workers in key sectors on Tuesday as too lit
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Employers offer staggered pay rise to workers in German industry, say sources

Employers offer staggered pay rise to workers in German industry, say sources NUREMBERG, Germany, Oct 15 (Reuters) - Employers have offered a staggered pay rise of 1.7% and 1.9% over a period of 27 months to workers in Germany's auto, electrical and metal industries, sources said on Tuesday, falling short of the demand made by the union. The offer, which foresees the first increase on July 1, 2025 and the second a year thereafter, was made by employers in northern Germany, the first negotiating
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BMW CEO: Europe must cancel petrol engine ban to reduce reliance on China

UPDATE 1-BMW CEO: Europe must cancel petrol engine ban to reduce reliance on China Adds comments by France auto association head in last paragraph PARIS, Oct 15 (Reuters) - Europe must cancel its plan to ban new fossil fuel-emitting cars from 2035 to reduce reliance on China's battery supply chain and play to its technological strengths, BMW's BMWG.DE chief executive said on Tuesday.
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BMW CEO says Europe must cancel ban on petrol engines to reduce reliance on China

BMW CEO says Europe must cancel ban on petrol engines to reduce reliance on China PARIS, Oct 15 (Reuters) - Europe must cancel its plan to ban new fossil fuel-emitting cars from 2035 to reduce reliance on China's battery supply chain and play to its technological strengths, BMW's BMWG.DE chief executive said on Tuesday. Oliver Zipse, who has long pushed for regulators to permit various technologies - including alternative fuels like e-fuels or biofuels and hydrogen fuel cell cars - said the mood
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Stellantis CEO Tavares defends record in Paris over US crisis

FOCUS-Stellantis CEO Tavares defends record in Paris over US crisis Stellantis CEO spoke at four car show events Under pressure to fix US business after big profit warning Tavares cited 'personal reasons' for not seeking further term as CEO CEO did not rule out job cuts to revive business Updates intro, adds detail in 9th paragraph and shares in 14th paragraph By Nick Carey, Ben Klayman and Gilles Guillaume PARIS, Oct 14 (Reuters) - Stellantis STLAM.MI CEO Carlos Tavares alternated between defia
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Stellantis CEO Tavares in Paris spotlight over US crisis

FOCUS-Stellantis CEO Tavares in Paris spotlight over US crisis Stellantis CEO scheduled to speak at five car show events Under pressure to fix US business after big profit warning Tavares has said he will step down in 2026 Adds Stellantis CEO commentary in paragraphs 5, 6 and 7 By Nick Carey, Ben Klayman and Gilles Guillaume PARIS, Oct 14 (Reuters) - Stellantis STLAM.MI CEO Carlos Tavares kicked off a packed schedule of public events at the Paris auto show on Monday with comments that alternated
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China-Europe rivalry heats up at Paris car show as EV tariffs loom

REFILE-UPDATE 5-China-Europe rivalry heats up at Paris car show as EV tariffs loom Refiles to add dropped first name and title of Phil Dunne in last paragraph Chinese brands including BYD, Leapmotor unveiling new models European automakers out in force to defend home turf EU planning tariffs on Chinese-made EVs amid weak market BYD warns tariffs will lead to higher prices, deter buyers By Nick Carey PARIS, Oct 14 (Reuters) - Chinese and European automakers went head-to-head at the Paris car show
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Stellantis CEO Tavares in Paris spotlight over US crisis

FOCUS-Stellantis CEO Tavares in Paris spotlight over US crisis Stellantis CEO scheduled to speak at five car show events Under pressure to fix US business after big profit warning Tavares has said he will step down in 2026 Updates paragraph 1, adds Tavares comment in 4 By Nick Carey, Ben Klayman and Gilles Guillaume PARIS, Oct 14 (Reuters) - Stellantis STLAM.MI CEO Carlos Tavares kicked off a packed schedule of public events at the Paris auto show on Monday with defiant comments about the compan
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UK Stocks-Factors to watch on Oct 14

UPDATE 1-UK Stocks-Factors to watch on Oct 14 Adds new items, updates futures Oct 14 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening lower on Monday, with futures FFIc1 down 0.2%. * MULBERRY: UK's Mulberry MUL.L said its top investor Challice has declined to sell shares in the company to Frasers FRAS.L after the sportswear and apparel retailer last week sweetened its takeover bid for the luxury brand.
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Bunzl, Equinor ASA, L'Oreal

EUROPE RESEARCH ROUNDUP-Bunzl, Equinor ASA, L'Oreal Oct 14 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Bunzl, Equinor ASA and L'Oreal, on Monday. HIGHLIGHTS * Adidas AG ADSGn.DE : UBS raises target price to EUR 279 from EUR 275 * Bunzl BNZL.L : JP Morgan raises to overweight from neutral * Equinor ASA EQNR.OL : Morgan Stanley raises to equal weight from underweight * L'Oreal OREP.PA : Citigroup cuts target price to EUR 420 from
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Chinese and European automakers face off at Paris car show

Chinese and European automakers face off at Paris car show Chinese brands including BYD, Leapmotor to unveil new models European automakers out in force to defend home turf EU planning tariffs on Chinese-made EVs amid weak market GAC says show marks launch of its European expansion By Nick Carey PARIS, Oct 14 (Reuters) - Chinese and European automakers are going head-to-head at the Paris car show on Monday, with tensions running high as the EU gears up to impose hefty import tariffs on Chinese-m
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What matters most to world markets in a tight US election race

RPT-GRAPHIC-What matters most to world markets in a tight US election race Repeats Oct 11 story for wider distribution, no changes to text LONDON, Oct 11 (Reuters) - The U.S. presidential election, the most consequential vote for financial markets in an election-packed year, is weeks away. With Democratic Vice President Kamala Harris and Republican Donald Trump locked in a close race to win the Nov.
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Stellantis CEO Tavares in Paris spotlight over US crisis

FOCUS-Stellantis CEO Tavares in Paris spotlight over US crisis Stellantis CEO scheduled to speak at five car show events Under pressure to fix US business after big profit warning Tavares has said he will step down in 2026 By Nick Carey, Ben Klayman and Gilles Guillaume PARIS, Oct 14 (Reuters) - Carlos Tavares' packed schedule of public events at the Paris auto show on Monday signals the Stellantis STLAM.MI CEO will come out fighting after a massive profit warning in late September, even after a
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What matters most to world markets in a tight US election race

GRAPHIC-What matters most to world markets in a tight US election race LONDON, Oct 11 (Reuters) - The U.S. presidential election, the most consequential vote for financial markets in an election-packed year, is weeks away. With Democratic Vice President Kamala Harris and Republican Donald Trump locked in a close race to win the Nov. 5 election , we look at what matters most for world markets.
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Volkswagen's deliveries drop, highlighting Europe's car industry challenges

UPDATE 1-Volkswagen's deliveries drop, highlighting Europe's car industry challenges Adds quotes on China, and BEV sales there; paragraphs 6-9 Oct 11 (Reuters) - Volkswagen Group VOWG_p.DE on Friday reported a 7% decline in third-quarter global deliveries, showing how Europe's car industry is facing tough challenges , including weak demand from China and high production costs at home.
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Porsche's nine-month China sales plunge by third

Porsche's nine-month China sales plunge by third STUTTGART, Oct 11 (Reuters) - German sports car maker Porsche P911_p.DE on Friday posted a 29% nine-month sales drop in China, joining peers BMW BMWG.DE and Mercedes MBGn.DE in reporting weaker results in the country. The slump in China, the world's biggest car market, and the ongoing model revamp weighed on the overall result, with global sales falling by 7% to 226,026 units in January-September.
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Battery maker Northvolt says it will be able to pay its upcoming taxes

UPDATE 2-Battery maker Northvolt says it will be able to pay its upcoming taxes Adds company background, details on tax bill, paragraphs 3 and 6-7 STOCKHOLM, Oct 10 (Reuters) - Swedish battery maker Northvolt will be able to pay its taxes that fall due on Oct. 14, it told Reuters on Thursday, answering speculation as to whether the struggling company would be able to do so.
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Northvolt seeks to sell redundant battery materials to raise cash, sources say

EXCLUSIVE -Northvolt seeks to sell redundant battery materials to raise cash, sources say Northvolt attempts to sell raw materials, sources say Move is latest effort to improve financial position Co is Europe's main hope for a homegrown EV battery maker Raw materials director left in Sept. Company declines to comment on supply chain strategy By Pratima Desai and Marie Mannes LONDON/STOCKHOLM, Oct 10 (Reuters) - Sweden's Northvolt is trying to sell off its stockpile of battery-making materials, t
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BMW and Mercedes quarterly sales drop on weak China

WRAPUP 2-BMW and Mercedes quarterly sales drop on weak China Adds details about model performance and China's retaliatory measures in paragraphs 7-8 and 11-12 Q3 sales down 13% at BMW, down 3% at Mercedes Both report lower sales in China BEV sales fall at Mercedes, rise at BMW By Andrey Sychev and Miranda Murray BERLIN, Oct 10 (Reuters) - Sluggish demand and stiff competition in China hit third quarter sales at BMW BMWG.DE and Mercedes MBGn.DE , the German luxury automakers said on Thursday.
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Rio Tinto goes all in on lithium with $6.7 bln Arcadium buy

UPDATE 6-Rio Tinto goes all in on lithium with $6.7 bln Arcadium buy All cash deal represents 90% premium to Arcadium share price Deal will make Rio Tinto 3rd largest lithium producer Reuters exclusively reported talks on Oct. 4 Rio's London shares down 0.4% by 1054 GMT Adds Rio comments paragraphs 7, 11, updates share price, Jadar project paragraph 16, market capitalisation paragraph 17 By Clara Denina and Melanie Burton LONDON/MELBOURNE, Oct 9 (Reuters) - Rio Tinto RIO.AX , RIO.L has agreed to
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