Reuters UK Business

Continental AG’s supervisory board approves spin-off for automotive business

12 Mar 2025

(Reuters) – Continental AG’s supervisory board on Wednesday formally approved plans for spinning-off the group’s automotive business, which will have cash funds of 1.5 billion euros ($1.64 billion) before the process is completed. Continental plans a spin-off and subsequent 100% public listing of its automotive unit on the Frankfurt stock exchange, during a tough period …

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Russian central bank proposes wealthy individuals be allowed to invest in crypto

12 Mar 2025

MOSCOW (Reuters) – Russia’s central bank has proposed regulating certain cryptocurrency investments for wealthy individuals, it said on Wednesday, outlining plans for “specially qualified” investors to trade crypto assets. The bank has gradually softened its strong opposition to cryptocurrencies, backing a law last year that allowed businesses to use cryptocurrencies in international trade, part of …

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US auto firms seek tariffs exemption for key supplier Tata Steel Nederland

12 Mar 2025

By Alban Kacher (Reuters) – Tata Steel Nederland (TSN), the Dutch arm of the Indian steel giant, said on Wednesday some of its U.S. clients, notably from the automotive sector, were lobbying for the supplier to be exempted from U.S. tariffs on steel imports. “Exemptions are the most important part in mitigating (the effect of …

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‘We’ll see’ on support for German borrowing bonanza, Greens party leader says

12 Mar 2025

By Holger Hansen and Matthias Williams BERLIN (Reuters) -Plans for Germany to unleash a massive increase in state borrowing faced new questions on Wednesday, with a co-leader of the Greens party non-committal about whether a deal could be done and the far-left party filing another legal challenge. Election winner Friedrich Merz is racing to get …

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Wacker Chemie sees higher 2025 sales as tech demand drives silicone volumes

12 Mar 2025

(Reuters) -Germany’s Wacker Chemie said 2025 sales were likely to increase from last year thanks to a surge in volumes, especially in silicone products and semiconductor-grade polysilicon, albeit at slightly lower selling prices. As tech products become more complex, the need for highly specialised products such as Wacker’s silicones grows, CEO Christian Hartel said during …

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VW’s Osnabrueck plant would be ‘very suitable’ for defence production, Rheinmetall CEO says

12 Mar 2025

DUESSELDORF/FRANKFURT (Reuters) – Volkswagen’s factory in Osnabrueck would be a good fit for a conversion to military production, the CEO of Rheinmetall said on Wednesday, as the German carmaker considers ways to repurpose the site that could include a sale. Armin Papperger, speaking to journalists after forecasting strong sales growth for 2025, said that while …

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UK favours pragmatism over tit-for-tat tariffs, but all options open

12 Mar 2025

By Kate Holton LONDON (Reuters) -Britain did not immediately retaliate to U.S. President Donald Trump’s tariffs on steel and aluminium imports on Wednesday, though Prime Minister Keir Starmer said he was disappointed by the move and that all options remained on the table. Trump imposed global tariffs of 25% on all imports of steel and …

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Zara owner Inditex “optimistic” about U.S. despite tariffs

12 Mar 2025

By Helen Reid and Corina Pons ARTEIXO, Spain (Reuters) -Zara owner Inditex expects to keep growing in the U.S., CEO Oscar Garcia Maceiras said on Wednesday, despite signs that U.S. tariffs and retaliation from other countries are hitting consumer demand. At an annual press conference after reporting a slower start to first-quarter sales, Garcia Maceiras …

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Porsche’s earnings per share slashed by a third in 2024, keeps dividend stable

12 Mar 2025

BERLIN (Reuters) – Porsche said on Wednesday it will keep its dividend for 2024 at the previous year’s level despite a 30.4% drop in earnings per share, according to Reuters calculations, as the luxury carmaker battles high costs and weak demand in China. Citing a “persistently challenging environment”, the company also pared back its medium-term …

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