(Reuters) – Glovo’s owner Delivery Hero has increased provisions related to the legal status of its riders in Italy and said in a statement that the increased expenses are reflected in its adjusted earnings for the 2024 financial year. The increase in provisions, that now amount to a total 253 million euros ($286.78 million), is …
Delivery Hero increases provisions for riders’ status in Italy Read More »
MILAN (Reuters) – U.S. investment fund Sixth Street is in the final stages of talks to become an investor in a future venture combining the assets of Italian energy firm Sorgenia’s with those of solar power firm EF Solare, two sources close to the matter said. Sixth Street would become a shareholder in a new …
Sixth Street eyes stake in new Italian energy hub, sources say Read More »
MOSCOW (Reuters) -Brokerage customers of the Russian subsidiary of U.S. bank Citi have started receiving coupon payments on securities frozen in Europe by Western sanctions, according to Russian law firms, citing their clients. Citi did not immediately respond to a request for comment. Western sanctions imposed in June 2022 on Russia’s National Settlement Depository (NSD) …
Citi clients in Russia receiving some frozen funds, Russian lawyers say Read More »
STOCKHOLM (Reuters) – Sweden’s Volvo Cars, which is controlled by Chinese auto maker Geely, will need up to two years to expand its U.S. car production in order to avoid hefty import tariffs, CEO Hakan Samuelsson told daily Dagens Nyheter (DN) on Friday. Volvo Cars is one of the most exposed automakers to U.S. President …
(Reuters) – Niox Group has halted its sale process after suitor Keensight Capital withdrew its interest in making a buyout offer due to challenging macroeconomic conditions, the British medical device maker said on Friday. In March, Paris-based private equity firm Keensight proposed acquiring Niox Group for 345.8 million pounds ($452.4 million), or 81 pence per …
UK medical devices group Niox halts sale after Keensight backs out Read More »
MILAN (Reuters) – Carmaker Stellantis remains committed to its ailing luxury brand Maserati even as U.S. tariffs complicate the situation for the automotive industry in general, the brand’s head said on Friday. A spokesman for Stellantis said earlier this week the group had hired consultant McKinsey to advise on the effects of the recently announced …
Maserati CEO says Stellantis remains committed to brand Read More »
MILAN (Reuters) – Italian energy group Eni said on Friday it completed the sale of an additional 5% stake in Enilive to U.S. fund KKR, bringing the total proceeds from the disposal of two minority stakes in its biofuel unit to 3.6 billion euros ($4.1 billion). This second deal with KKR was announced in February …
Eni pockets 3.6 billion euros from stake sales in biofuel unit to KKR Read More »
By Elisa Anzolin, Abigail Summerville and Amy-Jo Crowley MILAN (Reuters) -Prada struck a $1.38 billion deal to buy smaller rival Versace from Capri Holdings on Thursday in a move that unites two of the biggest names in Italian fashion and offers the prospect of enhanced revenues. Prada is seeking to expand, having defied a slowdown …
Prada braves tariff uncertainty to clinch $1.4 billion deal for Versace Read More »
By Shadia Nasralla (Reuters) -Energy group BP expects first-quarter gas marketing and trading earnings to be weak while net debt will rise, the company said on Thursday, sending its shares lower. The update offers an early glimpse into BP’s quarterly performance at a time when scrutiny of its debt and spending is intensifying with activist …
BERLIN (Reuters) – The German competition regulator said it sided with 1&1 on Friday in a spat over radio mast access between the upstart 5G provider and larger rival Vodafone, suspecting the British telecoms group of breaching antitrust law. In a preliminary legal assessment, the German Cartel Office informed Vodafone and its spun-off radio mast …
Regulator sides with Germany’s 1&1 in 5G rollout row with Vodafone Read More »
