Reuters UK Business

(Reuters) -Britain’s competition regulator said on Friday five airlines, including British Airways and American Airlines, have offered commitments to resolve concerns over their agreement to cooperate on passenger routes between the UK and the U.S. The group of airlines, which also includes Iberia, Aer Lingus and Finnair, has agreed to give their competitors’ slots for …

Five airlines agree to resolve UK’s anti-trust concerns over transatlantic routes Read More »

BELGRADE (Reuters) -The United States Treasury has granted a second 30-day extension to the Serbian oil company NIS’s sanctions waiver, Serbian President Aleksandar Vucic said on Friday. The introduction of sanctions could have resulted in crude supply cuts for NIS, which operates Serbia’s only oil refinery, with an annual capacity of 4.8 million tons, and …

US extends Serbian oil firm NIS’s sanctions waiver for 30 days, President Vucic says Read More »

By Anousha Sakoui LONDON (Reuters) -BNP Paribas’ UK head of global banking Matthew Ponsonby has resigned from his position, the bank said on Friday. A successor will be announced in due course, the bank said. “Matthew leaves our UK business in a strong position,” a spokesperson for the bank said in a statement. “We thank …

BNP Paribas’ UK Head of Global Banking Ponsonby resigns Read More »

By Anousha Sakoui and Shadia Nasralla LONDON (Reuters) -U.S. activist hedge fund Elliott Management, currently campaigning for more change at BP in its capacity as a BP shareholder, has taken a big short position in Shell, according to financial filings. Elliott’s short position, which is designed to make money if Shell’s share price falls, amounts …

Elliott takes big short position in Shell amid BP campaign Read More »

(Reuters) -British online fashion retailer Boohoo said on Friday it would rebrand as Debenhams Group even though opposition from top shareholder Frasers meant the name change for its holding company did not get shareholder approval. At a general meeting, 62.04% of votes cast supported the official name change, falling short of the required 66% of …

Boohoo pushes ahead with Debenhams rebrand despite Frasers’ opposition Read More »

BERLIN (Reuters) -Rheinmetall CEO Armin Papperger visited Volkswagen’s Osnabrueck plant on Friday as part of a delegation of Europe’s top ammunition maker, labour representatives said, in the latest sign of closer cooperation between the defence and auto sectors. Papperger earlier this month said Volkswagen’s factory in Osnabrueck, which may be repurposed or sold as part …

Rheinmetall CEO visits VW plant as defence companies look to expand Read More »

MOSCOW (Reuters) -Russia’s oil pipeline monopoly Transneft said on Friday its net income declined around 5% last year to 287.7 billion roubles ($3.4 billion) amid rising costs and taxes. The Russian government has increased taxes on corporate profits to try to contain its budget deficit amid high military spending. The tax on Transneft’s earnings for …

Russia’s Transneft says 2024 net profit fell 5% by tax hike Read More »