Amsterdam — Dutch grid operator TenneT on Tuesday said it had agreed to sell 25.1% of its German business to the German state for €3.3bn in a long-planned move to tighten Berlin’s control over critical energy infrastructure and secure financing for major grid expansion.
The deal marks a significant step in the German government’s attempts to assert more influence over high-voltage grids, the backbone of the country’s energy supply.
The Dutch government is cutting its stake in TenneT Germany at a time when rising investment needs have raised doubts over whether Germany’s power grids should be exclusively funded by its European neighbour. Reuters
Credit Suisse accounts probed for Nazi links
Zurich — An investigation has identified 890 accounts at Swiss lender Credit Suisse with potential Nazi links, US senator Chuck Grassley said before a judiciary committee hearing on Tuesday on banks’ facilitation of the Holocaust.
The accounts included previously undisclosed wartime accounts for the German Foreign Office, a German arms manufacturing company and the German Red Cross, added the legislator, who chairs the committee and has followed the investigation into Credit Suisse for years. UBS, which acquired Credit Suisse in an emergency takeover in 2023, said last year it was working with former US prosecutor Neil Barofsky to shed light on Nazi-linked accounts held at its former competitor. Reuters
Spanish regulator fines firms in Repsol group
Gdansk — Spain’s competition watchdog said on Tuesday it was imposing fines totalling €20.5m on three companies in the Repsol group for what it called an abusive margin-squeeze strategy that harmed independent and low-cost fuel stations.
The CNMC said Repsol held a dominant position in Spain’s nationwide wholesale market for automotive fuels supplied to service stations, which carries a special duty not to restrict competition.
The regulator found Repsol raised wholesale prices charged to rival stations between April and December 2022, while simultaneously cutting effective retail prices at its own network for professional customers, mainly truckers. Reuters
Iran regime change ‘will boost the Middle East’
Dubai — Bridgewater Associates founder Ray Dalio said on Tuesday that a change of government in Iran would make the Middle East region more investment friendly, as Tehran and Washington head for fresh talks. US President Donald Trump has said “bad things” would probably happen if a deal could not be reached. Reuters
Ball Corporation beats quarterly sales forecasts
Bengaluru — Aluminium packaging company Ball Corporation beat analysts’ estimate for fourth-quarter sales and profit on Tuesday, helped by strong demand for its recyclable cups and bottles from consumer goods makers.
Ball Corporation, which supplies packaging to major food and beverage companies across North America, including canned food maker Del Monte, forecast more than 10% earnings growth in 2026. Its shares rose about 3% in premarket trading.
As consumers grapple with inflation pressures, many are shifting toward more affordable meals prepared at home, driving demand for canned foods and supporting packaging sales at companies such as Ball Corporation. Reuters
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.