Reuters UK Business

LONDON (Reuters) – British finance minister Rachel Reeves will meet financial, environmental and health regulators on Monday to unveil an “action plan” to cut red tape by reducing the number of bodies overseeing sectors seen as crucial to boosting economic growth. Days after Prime Minister Keir Starmer said his government would abolish a body which …

UK finance minister Reeves to unveil action plan to cut over-regulation Read More »

(Reuters) – The supervisory board of ProSiebenSat.1 will meet later on Sunday to discuss a potential deal that could hand U.S. private equity firm General Atlantic a minority stake in the German broadcaster, two sources close to the matter told Reuters. General Atlantic is a co-investor in ProSieben’s internet units – price comparison website Verivox, …

Germany’s ProSieben holds board meeting over General Atlantic deal, sources say Read More »

ROME (Reuters) – Italy is preparing an industrial plan aimed at fostering connections between its automotive, defence and aerospace sectors, to be unveiled in June, Industry Minister Adolfo Urso said on Sunday. The plan comes amid European discussions on boosting defence spending and potential joint military funding. “In June, when the path of reforms we …

Italy prepares plan to bridge automotive and defence sectors, minister says Read More »

FRANKFURT (Reuters) – The pay package of UBS CEO Sergio Ermotti came in just above 15 million Swiss francs ($17 million) in 2024, Swiss daily Blick reported, not citing where it obtained the information. This would be more than the 14.4 million Swiss francs Ermotti received in 2023 for nine months’ work after he returned …

UBS CEO Ermotti to receive $17 million paycheck for 2024, Blick reports Read More »

FRANKFURT (Reuters) – Porsche SE, Volkswagen’s biggest shareholder, is not considering selling voting shares in Europe’s largest carmaker, the holding firm said on Sunday following a newspaper report that it was weighing such a move. German tabloid Bild, citing people familiar with the matter, said the Porsche and Piech families that jointly control Porsche SE …

Porsche SE says it is not considering sale of Volkswagen shares Read More »

BRUSSELS (Reuters) – European Union countries are discussing making the bloc’s binding gas storage goals more flexible, over concerns that the rules risk inflating gas prices, a negotiating document seen by Reuters showed. Countries including Germany, France and the Netherlands have warned the EU’s binding deadlines to fill gas storage are pushing up prices, by …

EU countries draft plan to soften gas storage targets, document shows Read More »

WARSAW (Reuters) – Airbus has submitted a bid in a tender for 84 passenger planes for Polish national carrier LOT, Airbus Vice President Benoit de Saint-Exupery was quoted as saying by the PAP news agency on Saturday. “Our bid concerns two versions of the A220-100 and 300 aircraft,” he told PAP. In March 2024, Poland’s …

Airbus submits bid in tender for 84 aircraft for LOT, says agency PAP Read More »

By Susanna Twidale LONDON (Reuters) – Britain’s steel industry has called on the government to help with electricity prices that it says can be it 50% higher than those paid by European competitors. Earlier this week, the sector was hit by a 25% tariff on exports to the U.S. that make up around 9% of …

British steel industry calls for help with electricity prices Read More »

WARSAW (Reuters) – Fitch Ratings has affirmed Poland’s long-term foreign-currency issuer default rating (IDR) at ‘A-‘ with a stable outlook, the agency said late on Friday. The agency forecasts average inflation of 4.5% in 2025, and 3.7% in 2026, it said. Given the inflation outlook Fitch expects two 25 basis points interest rate cuts in …

Fitch affirms Poland at ‘A-‘ with outlook stable Read More »