Reuters UK Business

By Pranav Kashyap (Reuters) -European shares fell more than 1% on Friday, tracking a global risk-off sentiment following disappointing U.S. growth data and overshadowing a handful of positive corporate updates. The pan-European STOXX 600 index fell 1.4% after touching a three-month low earlier in the session. It is also set to log a 1.5% decline …

European shares fall amid global risk-off mood on US growth fears Read More »

PARIS (Reuters) – Engie CEO Catherine MacGregor said on Friday that Engie had submitted an offer to buy a UK asset but that the French company’s offer was ultimately not retained. MacGregor declined to name the UK asset for which it had made an offer. Reuters had reported earlier that Engie had joined forces with …

Engie CEO: we made an offer to buy a UK asset but this was rejected Read More »

MILAN (Reuters) -UniCredit faces a second court case in Russia linked to guarantee payments the Italian bank was not able to honour due to Western sanctions imposed on Moscow after it invaded Ukraine in early 2022, it said in its half-year report. UniCredit controls Russia’s 15th largest bank by assets and is embroiled in another …

UniCredit says it faces second court case in Russia over guarantee payments Read More »

LONDON (Reuters) – European technology stocks fell to their lowest level in over six months on Friday, amid a broad global equity sell-off and as investors dumped semiconductor stocks following disappointing earnings from Intel. The STOXX Europe 600 technology index was last down 3.6% to its lowest since January. The broader STOXX 600 index index …

European tech stocks fall to six-month low, join in global sell-off Read More »

(Reuters) -Arm Holdings shares slumped 16% in afternoon trading on Thursday, after the British chip firm’s tepid revenue forecast sparked concerns it may have to wait longer than some peers to gain from the boom in AI technologies. At $121.36, the company’s stock is set to lose nearly $24 billion of its market value if …

Arm shares tumble as downbeat revenue forecast clouds potential AI upside Read More »

(Reuters) -Snap forecast current-quarter results below expectations on Thursday as the Snapchat owner grapples with stiff competition from larger rivals for advertising dollars in an uncertain economy, sending its shares down 22% after-market. Its biggest competitors – Facebook and Instagram parent Meta Platforms and Bytedance’s TikTok – far outrank it in terms of scale and …

Snap forecasts downbeat revenue as competition rises, shares tumble 22% Read More »

(Reuters) – Merck KGaA is seeing a faster-than-expected improvement in its semiconductor materials business, the German pharma and technology company said on Thursday. It has seen an inflection point in the second quarter for advanced nodes and materials for AI applications, it said, having previously said it expected a recovery in the semiconductor market in …

Merck reports earlier-than-expected improvement in semiconductor market Read More »

By Mathieu Rosemain PARIS (Reuters) -Societe Generale cut a key target for its French retail division on Thursday, overshadowing a quarterly earnings beat and sending the French bank’s shares tumbling. Shares of France’s third-biggest listed bank by market value were down by more than 7% in early Paris trading, losing more ground against European rivals, …

SocGen’s shares drop on renewed cuts to French retail targets Read More »

BERLIN (Reuters) – Volkswagen will prolong sales of combustion engine cars and potentially add new models but without increasing total investment, its CEO said on Thursday, with planned expenditure from 2025-2029 to fall to around 165 billion euros. “Overall we will decrease investment. When we talk about adding combustion engines, it has to be compensated,” …

Volkswagen to prolong combustion engine line-up without adding investment Read More »