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HELSINKI (Reuters) -Sweden's Electrolux has decided to exit Russia and sell its business in the country to the local management, the home appliance maker said on Friday.

"Electrolux has no production in Russia and will not supply any appliances to the divested company," it said in a statement.

The company, which had paused operations in Russia following the country's attack on Ukraine, would book a capital loss of some 350 million Swedish crowns ($32.55 million) in its July-September results from the sale, it said.

Electrolux sales in Russia accounted for 1.6% of group sales in 2021.

(Reporting by Essi Lehto, editing by Stine Jacobsen and Anna Ringstrom)

Russia's Rusal is the world's third largest producer of the metal used in the transport, packaging and construction industries. Consumers and producers of aluminium usually strike deals for the next year in the autumn. Novelis, a subsidiary of India's Hindalco, issued a tender this week for 2023 supply to its European plants that specified no metal of Russian origin would be allowed as part of any deals, Bloomberg reported, citing Novelis.

BRUSSELS/BERLIN (Reuters) -The European Commission is seeking emergency powers to force companies to make key products and stockpile goods in a crisis or else face fines, according to an EU document seen by Reuters on Friday. The move is contested by some EU countries worried about a power grab by the EU executive, while critics say it smacks of China-style state capitalism. The Commission will need to thrash out details with EU countries and EU lawmakers before the proposal can become law in a process that will take months.

LONDON based fund group Ashmore saw investors pull money out as poor stock picks led to a “negative investment performance” of nearly $17 billion this year. Funds under management fell by 32% to $64 billion. Ashmore, an emerging markets specialist, saw its own profits more than half to £185 million.

Gas giant Gazprom's board this week recommended the payment of 51.03 roubles ($0.8456) per ordinary share in dividends on the first half of 2022, sending the company's shares up around 25% and buoying Russian indexes. "Investors seem to have cheered up and hopes that the dividend idea is alive and that other Russian companies will join with Gazprom are gradually moving the market upwards," said Alexander Arutyunyan, chief economist at Russ-Invest. By 1532 GMT, the rouble-based MOEX Russian index was 0.9% higher at 2,467.4 points, its strongest mark since May 18.

Staff working at Britain's business and energy department building have scrapped a strike planned to coincide with the country's new prime minister taking office next week, the public service trade union said on Friday. Cleaners, security guards, reception workers, mail room staff and others at the Department for Business, Energy and Industrial Strategy suspended the strike on Sept. 5 and 6 over health and safety protocols, the Public and Commercial Services Union (PCS) said. The union suspended the strike after a meeting with managers from ISS, the firm which employs the outsourced workers, who offered "significant" concessions, the PCS said.

Laxman Narasimhan is swapping Slough for Seattle and takes up the top job there in April

James Beard reviews one of the lesser-known members of the FTSE 100 with a view to adding it to his portfolio. The post The biggest FTSE 100 company you have never heard of appeared first on The Motley Fool UK.

General Motor's autonomous vehicle unit Cruise recalled 80 cars and updated their software after one failed to properly predict the trajectory of an oncoming vehicle.

Households are paying up to £250 per year too much for electricity under outdated clean energy rules, industry leaders have signalled, as they throw their weight behind reforms aimed at bringing bills down.

Annual growth slowed to 10% in August, down from 11% in July, amid early signs of the cost-of-living crisis putting pressure on budgets.

Global Radiation-Hardened Electronics Market Global Radiation-Hardened Electronics Market Dublin, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The "Radiation-Hardened Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. The global radiation-hardened electronics market reached a value of US$ 1.3 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 1.6 Billion by 2027, exhib

OSB GROUP PLC ISIN: GB00BLDRH3601 September 2022 LEI: 213800ZBKL9BHSL2K459 OSB GROUP PLC (the Company) Transaction in Own Shares and Total Voting Rights The Company announces that on 31 August 2022 it had purchased a total of 135,000 of its ordinary shares of £0.01 each on the London Stock Exchange through the Company's broker Citigroup Global Markets Limited as detailed below. The repurchased ordinary shares will be cancelled. London Stock ExchangeNumber of ordinary shares purchased135,000Highe

INFORMATION CONCERNING THE TOTAL NUMBER OF VOTING RIGHTS AND SHARES Declaration pursuant to Articles L.233-8 II of the French Commercial Code and 223-16 of the General Regulations of the Autorité des marchés financiers (AMF) Date of settlementof informationTotal number of sharesNumber of shares without voting rights (*)Number of voting rights for threshold calculation (**)Number of actual voting rights (exercisable at shareholders’ meeting)August 31, 202220 455 40383 84323 050 52222 966 679July

The German government plans to charter another floating liquefied natural gas (LNG) terminal for winter 2023/24, bringing the total number to five, as part of its strategy to diversify away from Russian energy. The fifth state-owned floating storage and regasification unit (FSRU) will come to Wilhelmshaven, where another FSRU is already planned, and has a capacity of 5 billion cubic metres per year, said the Economy Ministry on Thursday. "All the steps we take to free ourselves as quickly as possible from the clutches of Russian imports are more necessary than ever," said Economy Minister Robert Habeck in announcing that the ministry's selection of companies to manage the FSRU.

Proposals involve scaling back the investment bank and reducing more than $1bn in costs

Namibian offshore oil and gas discoveries by TotalEnergies and Shell are of commercial quantities, likely in the billions of barrells, the southern African nation's mines and energy minister said on Friday. Both companies announced earlier this year that they had made "significant" discoveries offshore Namibia, and are currently making assessments. The companies did not detail the quantities found but a source told Reuters that Total's discovery was more than 1 billion barrels of oil equivalent.

The healthcare firm denies conspiring to restrict the supply of anti-sickness drugs to the NHS

The Chancellor Nadhim Zahawi has said he believes the move “will curtail Putin’s capacity to fund his war” in Ukraine.

Officials’ proposed measures include national insurance cuts and pause to green levies

Idea would separate the cost of electricity produced by nuclear and renewable sources from generation by gas