Reuters UK Business

Thyssenkrupp can’t guarantee $3.3 billion green steel site will be economical, CEO says

FRANKFURT (Reuters) -A planned 3-billion-euro ($3.3 billion) site Thyssenkrupp is building in Duisburg to make carbon-neutral steel could be stranded unless Germany ensures there’s sufficient green hydrogen to supply it, the conglomerate’s CEO said. “With this project we are not only pushing the boundaries of what is technologically feasible. We are also currently operating at …

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Sabadell CEO expects BBVA to get off lightly in Spanish antitrust review

LONDON (Reuters) – Sabadell’s CEO said on Wednesday he did not expect Spain’s competition regulator to come down too hard on BBVA’s hostile takeover bid when it announces the outcome of its review into the proposed deal. Cesar Gonzalez-Bueno said that the regulator, which will give its view as soon as the end of this …

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Explainer-Europe’s plans to pay for surge in defence spending

By Jan Strupczewski BRUSSELS (Reuters) – The European Commission provided new details on Wednesday of proposals to finance a jump in defence readiness to deter any future attack from Russia and become less dependent for security on the United States. The Commission says the proposals could mobilise some 800 billion euros ($870 billion) over four …

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Average rouble price of Russia’s oil drops 24% below budget target in March

MOSCOW (Reuters) – The price of Russia’s oil blend in roubles so far in March is on average around 24% below the level targeted in the federal budget for 2025 due to the currency’s firming and weaker global oil prices, according to Reuters calculations. The drop will likely cause more strain on the budget, already …

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Italian prosecutors probe Eni, seven employees over depot explosion

PRATO, Italy (Reuters) – Italian prosecutors said on Wednesday they had opened an investigation into energy company Eni and seven of its employees following an explosion at a fuel depot near Florence in December that killed five people. The prosecutors in the Tuscan city of Prato said in a statement they suspected manslaughter and other …

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EU should fund Ukraine’s access to satellite internet, Commission says

By Gianluca Lo Nostro (Reuters) – The European Union should fund Ukraine’s access to space services that can be provided by EU-based commercial providers, the European Commission said in its white paper on the future of European defence published on Wednesday. Europe has been rushing to shield Ukraine’s internet access after sources close to the …

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Italy’s Industrie De Nora shares plunge on profit drop, lower guidance

By Alberto Chiumento (Reuters) -Italian electrochemical group Industrie De Nora on Wednesday released lower guidance for the next three years after reporting a 12% drop in last year’s adjusted net profit, sending its shares down as much as 23%. The company, which manufactures electrodes for devices such as rechargeable batteries, components to produce green hydrogen …

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Swedish government lifts inflation outlook amid economic uncertainty

STOCKHOLM (Reuters) – Sweden’s right-wing government on Wednesday hiked its forecast for inflation this year and said it would monitor the development of price pressures as the economy slowly recovered against a backdrop of global uncertainty. The government said in a statement it sees headline inflation at 2.5% this year and 1.9% in 2026, up …

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Swiss drugmakers Novartis and Roche ditch some diversity programmes on US concerns

By Paul Arnold, Maggie Fick ZURICH (Reuters) -Swiss drugmaker Roche has abandoned global diverse workforce targets and compatriot Novartis is ending its use of diverse panels for U.S. hiring, the latest companies acting to avoid penalties from recent U.S. executive orders Among its measures, Roche said its Chief Diversity Offices in the U.S. and at …

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Citi delivers lead to LME warehouses for profitable rent deals

By Pratima Desai LONDON (Reuters) – Significant amounts of lead have been deposited in London Metal Exchange (LME) approved warehouses by Citigroup for so-called rent-sharing deals over the past few days, three sources familiar with the matter said. Rent deals are profitable agreements under which LME-registered warehouses share fees or rental income with companies that …

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