Reuters UK Business

Deutz interested in defence sector opportunities, says CEO

20 Mar 2025

(Reuters) – The chief executive of Germany’s Deutz said the company is interested in opportunities in the defence sector, after the engine maker reported full-year results on Thursday. “For us, defence is very important and interesting,” CEO Sebastian Schulte told investors. The firm has opportunities in many countries relating to engines, power packs, retrofitting and …

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NatWest seals milestone UK banking collaboration with OpenAI

20 Mar 2025

By Sinead Cruise LONDON (Reuters) – NatWest and OpenAI have joined forces to enhance the lender’s digital assistants and customer support processes using artificial intelligence, in the first collaboration of its kind with a UK-headquartered bank. The lender has put AI at the heart of key strategies to improve customer experience, cut costs and play …

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Global debt exceeds $100 trillion as interest costs surge, OECD says

20 Mar 2025

By Yoruk Bahceli LONDON (Reuters) – Outstanding government and corporate bonds globally exceeded $100 trillion last year, the OECD said on Thursday, with rising interest costs leaving borrowers facing tough choices and needing to prioritise productive investments. Between 2021 and 2024, interest costs as a share of output rose from the lowest to the highest …

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Rate of UK shop closures to accelerate after budget tax changes, says report

20 Mar 2025

LONDON (Reuters) – Britain’s high streets will likely see an acceleration in closures this year as extra costs imposed on businesses by the government’s first budget take their toll, according to a report from advisory firm PwC. Finance Minister Rachel Reeves’ October budget increased employer taxes to raise money for investment in infrastructure and public …

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RTL targets operating profit of 1 billion euros in 2-3 years, banking on ad growth

20 Mar 2025

By Klaus Lauer, Elizaveta Gladun and Anastasiia Kozlova (Reuters) -European media group RTL is aiming to return to an annual operating profit of 1 billion euros ($1.08 billion) in the medium term, CEO Thomas Rabe said on Thursday, counting on the eventual economic upturn to boost ad revenue. “We will achieve this in two to …

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Germany’s Lanxess gets boost from stockpiling ahead of Trump tariff threat

20 Mar 2025

By Rafal Wojciech Nowak (Reuters) -German speciality chemicals maker Lanxess on Thursday said U.S. customers had rushed to stockpile its products, joining consumers and companies hoping to get ahead of potential trade tariffs threatened by U.S. President Donald Trump. Trump has since his inauguration imposed a variety of blanket tariffs on several countries and goods, …

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UK retailer Wickes’ forecasts robust 2025 profits on growing customer base

20 Mar 2025

By Raechel Thankam Job (Reuters) -British retailer Wickes on Thursday said it had continued to gain market share in the home improvement business at the start of the year and would launch a new share buyback programme as it forecast annual profit in line with market consensus. Despite persistent inflation and the cost-of-living crisis limiting consumer …

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UK should keep price competition to drive fibre roll-out, regulator says

20 Mar 2025

LONDON (Reuters) -Britain should keep competition in fast broadband to drive full-fibre coverage to 96% of premises by 2027, while capping the price BT’s Openreach can charge for slower speeds up to 80Mbit/s, up from 40Mbits/s today, Ofcom said on Thursday. Four years ago, the regulator encouraged companies to build gigabit-capable networks by promoting competition …

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Russian internet firm VK plans share issue after net loss almost triples

20 Mar 2025

By Alexander Marrow (Reuters) -Russian internet company VK plans to raise up to 115 billion roubles ($1.36 billion) through an additional share issue to reduce its debt burden, it said on Thursday as it reported a net loss that almost tripled in 2024. State-controlled VK is one of Russia’s key domestic internet platforms, named by …

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German energy transition could be 300 billion euros cheaper with more efficiency, finds study

20 Mar 2025

BERLIN (Reuters) – Germany could save more than 300 billion euros ($326.49 billion) by 2035 by implementing the energy transition more efficiently, according to a study from the Boston Consulting Group and the country’s BDI industry association released on Thursday. Germany is expected to spend hundreds of billions of euros on its transition towards greener …

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