Reuters UK Business

(Reuters) -Hilton Worldwide cut its forecast for 2025 room revenue growth on Tuesday, becoming the first U.S.-based hotel operator to temper its outlook as consumer spending on travel takes a hit from a global trade war. American consumers are growing cautious about discretionary spending such as travel, after President Donald Trump’s sweeping tariffs and the …

Hilton cuts 2025 revenue growth forecast as travel demand softens Read More »

By James Davey LONDON (Reuters) -Associated British Foods’ Primark clothing retail business is committed to expanding in the United States despite President Donald Trump’s erratic approach to tariffs, its boss said on Tuesday. Primark’s U.S. business accounts for about 5% of the unit’s total sales. It currently trades from 29 stores in the U.S. and …

Primark committed to US expansion despite tariff uncertainty, says boss Read More »

By Marta Frackowiak (Reuters) -Swedish steelmaker SSAB reported a steep fall in first-quarter earnings, but beat analyst expectations as its specialised products helped to offset price weakness and falling demand elsewhere. The location of its facilities, close to customers in both Europe and the United States, has protected it from the impact of U.S. President …

Swedish steelmaker SSAB quarterly profit beats expectations Read More »

By Selena Li, Lawrence White and Sinead Cruise HONG KONG/LONDON (Reuters) -HSBC warned that loan demand and credit quality could suffer from the broader fallout of U.S. President Donald Trump’s global trade war, signalling tougher times for trade-focused banks even as the lender’s first quarter profit beat forecasts. Europe’s largest bank reaffirmed targets and unveiled …

HSBC sounds Trump tariff alarm, taking shine off Q1 profit beat and buyback Read More »

By James Davey LONDON (Reuters) -Primark owner Associated British Foods on Tuesday reported a 10% fall in first-half profit, reflecting a weak performance from its sugar business which also saw its full-year outlook slashed, sending the group’s shares down 8%. AB Foods, which also owns major grocery, agriculture and ingredients businesses, maintained annual guidance for …

Sugar warning dents shares in Primark-owner AB Foods Read More »

By Jesús Aguado MADRID (Reuters) – Spain’s BBVA on Tuesday warned of the potential impact of U.S. tariffs on its Mexican unit and said the fallout could curb growth in loan income, although a solid performance in Spain helped the bank beat first-quarter profit expectations. BBVA and peer Santander have depended on Latin American markets …

BBVA warns of US tariff uncertainty on Mexican business Read More »

MILAN (Reuters) -Italy’s funding costs hit a multi-month low at an auction on Tuesday, driven down by expectations of further rate cuts by the European Central Bank. The Italian Treasury sold the planned maximum amount of 9.5 billion euros ($10.83 billion) over three bonds, including a new 10-year BTP. It assigned 4 billion euros of …

Italy’s borrowing costs fall to multi-month low at auction on ECB rate cut bets Read More »

By Anne Kauranen HELSINKI (Reuters) -Finnish utility Fortum will not return to Russia and is still interested in acquiring the Nordic assets of its former German subsidiary Uniper [UN0k.DE], Fortum said on Tuesday, after beating market expectations for its first-quarter profits. The Russian assets of state-controlled Fortum and Uniper have been run by Moscow-installed executives …

Finland’s Fortum rules out return to Russia, continues to eye Uniper assets Read More »