Reuters UK Business Archives - Page 1259 of 3179

Britain’s L&G to return $6.5 billion to investors amid focus on core business

12 Mar 2025 12 Mar 2025

By Chandini Monnappa and Shashwat Awasthi (Reuters) -Britain’s Legal & General will return about $6.5 billion to investors via buybacks and dividends over three years as it tries to cement their confidence in a revamp. The life insurer and asset manager has sold its U.S. protection business for $2.3 billion and UK housebuilder CALA Group in …

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EU sues Spain for discriminatory tax treatment of non-residents

12 Mar 2025 12 Mar 2025

(Reuters) – The European Commission said on Wednesday it had referred Spain to the European Court of Justice for discriminatory tax treatment of non-residents. The Commission said Spain had infringed the free movement of capital by allowing residents a choice when to pay taxes over a transfer of assets with a deferred payment, while non-residents …

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Swiss seeking talks with U.S. on trade, analysing potential tariff impact

12 Mar 2025 12 Mar 2025

ZURICH (Reuters) – Switzerland is closely following the impact of potential U.S. tariffs imposed by President Donald Trump and continues to pursue dialogue with his administration, the government said on Wednesday. The State Secretariat for Economic Affairs (SECO) said Switzerland and the U.S. are close economic partners, adding that it wished to maintain the “best …

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Germany’s Kloeckner sees effects from U.S. metal tariffs as initially positive

12 Mar 2025 12 Mar 2025

(Reuters) – German Kloeckner & Co said on Wednesday that U.S. tariffs on steel and aluminium would likely have a positive effect on its business, at least initially. “The tariffs are for the time being positive for us,” CEO Guido Kerkhoff said in a press conference. Kloeckner, which distributes steel and metal products, says it …

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Puma to cut 500 jobs worldwide in cost-cutting programme

12 Mar 2025 12 Mar 2025

HERZOGENAURACH, Germany (Reuters) -Puma will cut 500 jobs worldwide as part of its cost-reduction programme, its CFO said after the German sportswear group late on Tuesday issued disappointing forecasts for the first quarter and 2025 amid weak demand in the U.S. and China. Puma’s disappointing quarterly sales and annual profits announced in January and Tuesday’s …

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Siemens Energy secures $1.6 billion power plant project in Saudi Arabia

12 Mar 2025 12 Mar 2025

BERLIN (Reuters) – Siemens Energy has been awarded a $1.6-billion project to provide technology for two gas-fired power plants in Saudi Arabia, the German company said on Wednesday. The project will allow Rumah 2 and Nairyah 2 in the country’s western and central regions to add 3.6 gigawatts of power to the national grid, Siemens …

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Bank of England appoints Sarah John as its new COO

12 Mar 2025 12 Mar 2025

LONDON (Reuters) – The Bank of England (BoE) said on Wednesday it appointed Sarah John, the central bank’s current Chief Cashier, as its new Chief Operating Officer. John will be replaced by Executive Director for Payments, Victoria Cleland, who will combine the role of Chief Cashier with her current responsibilities, which include work on the …

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Spotify says it paid $10 billion in royalties in 2024

12 Mar 2025 12 Mar 2025

(Reuters) – Spotify said on Wednesday it paid $10 billion in royalties in 2024, the largest payout to the music industry in a single year. Nearly 1,500 artists earned over $1 million in royalties from Spotify last year, the Swedish streaming giant said. Spotify said its yearly payout to the music industry had risen 10 …

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Italy’s Pop Sondrio doubles payouts to fend off BPER’s bid

12 Mar 2025 12 Mar 2025

By Andrea Mandala MILAN (Reuters) -Italy’s Banca Popolare di Sondrio on Wednesday vowed to double payouts to investors through 2027 and set ambitious profit goals as it strives to fend off a takeover offer from bigger rival BPER Banca. Joining a raft of takeover bids rocking Italy’s financial sector, BPER last month unveiled a 4.3 …

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German economy minister says defence and infrastructure spending should be discussed separately

12 Mar 2025 12 Mar 2025

FRANKFURT (Reuters) – Germany’s outgoing economy minister Robert Habeck said on Wednesday that any decision on defence funding and support for Ukraine should be discussed separately from plans to boost infrastructure investments. “Investment in defence capabilities and support for Ukraine are urgently needed and there is time pressure… That fact that our infrastructure is in …

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