Reuters UK Business

By James Davey LONDON (Reuters) – European home improvement retailer Kingfisher forecast profit growth this year of 2% at best, with its markets expected to remain subdued, a forecast below analysts’ consensus expectations that hammered its shares. Shares in the FTSE-100 listed group, which owns B&Q and Screwfix in the UK and Castorama and Brico …

Home improvement retailer Kingfisher’s shares dive on subdued profit outlook Read More »

By Leo Marchandon (Reuters) -French telecommunications giant Iliad reported a rise of 11.8% in its core profit for 2024, driven by strong performances across its main markets of France, Italy and Poland. Privately held Iliad, founded and majority-owned by French billionaire Xavier Niel, on Tuesday also outlined details about its planned 3 billion euro ($3.24 …

France’s Iliad profit jumps 12% in 2024 amid strength in key markets Read More »

By Bhanvi Satija, Anusha Shah and Surbhi Misra (Reuters) -23andMe on Sunday filed for bankruptcy in the U.S. after struggling with weak demand for its ancestry testing kits and a 2023 data breach that damaged its reputation. The company’s shares fell 50% to 88 cents in Monday trading after co-founder Anne Wojcicki, who made multiple …

DNA testing firm 23andMe files for bankruptcy as demand dries up Read More »

(Reuters) – Ithaca Energy said on Tuesday it would acquire Japan Petroleum Exploration’s (Japex) UK unit for $193 million, as it seeks to become one of the biggest independent North Sea energy companies. Ithaca will take on about $215 million of JAPEX UK E&P Ltd’s (JUK) material tax losses and about $105 million in losses …

UK’s Ithaca Energy to acquire Japex’s North Sea business for $193 million Read More »

By Aby Jose Koilparambil (Reuters) -UK homebuilder Bellway reported a 12% rise in half-year profit on Tuesday as lower mortgage rates and improved consumer confidence drove sales. Its shares rose 3.5% in early trade as the company also raised its dividend payment. Home sales in the UK got a boost in the first quarter as …

UK homebuilder Bellway’s profit boosted by easing mortgage rates Read More »

(Reuters) -Volkswagen Group said on Tuesday it would collaborate with Valeo and Mobileye as it deepens its network of suppliers to develop assisted and autonomous driving. The German carmaker said in a statement it will draw on the suppliers’ capabilities for enhanced partially automated driving, known as Level 2+ systems, for security and driver comfort …

Volkswagen draws on Valeo, Mobileye for driving assistance push Read More »

By Tom Sims and Rene Wagner FRANKFURT (Reuters) -German residential property prices rose in the fourth quarter, halting a decline in place since 2022 by gaining 1.9% year-on-year, federal statistics office data showed on Tuesday. But the outlook for the sector remains uncertain, with a recent increase in borrowing costs clouding prospects. Home prices began …

German home prices halt decline in fourth quarter but outlook uncertain Read More »

LONDON (Reuters) -Britain’s Financial Reporting Council has fined accounting giant PwC 4.5 million pounds ($5.8 million) in relation to the audit of Wyelands Bank for its 2019 financial year, the regulator said in a statement on Tuesday. According to the FRC, PwC admitted breaches in six areas of the bank’s audit, including risk assessment, compliance …

UK regulator fines PwC $5.8 million over 2019 audit Read More »