Reuters UK Business

LONDON (Reuters) – Britain plans to overhaul its windfall tax regime on oil and gas producers once current levies run out in 2030, it said on Wednesday as it vowed to transform the North Sea into a renewables hub. The government is asking industry players and others to provide feedback until May 28 on policy …

UK plans to overhaul windfall oil and gas tax Read More »

By Ludwig Burger FRANKFURT (Reuters) – Bayer on Wednesday raised the prospect of a return to earnings growth from 2026 after a decline this year, lifting its shares to a four-month high as its CEO somewhat allayed investor impatience with his turnaround efforts. The German maker of drugs and farming pesticides said 2025 would be …

Bayer sees improvement in 2026 after profit decline this year Read More »

By Marie Mannes STOCKHOLM (Reuters) -Volvo Cars may move production of some of its models to the U.S. depending on tariffs, but aims to stick to a plan to export its European-made EX30 SUV model to the United States later this year, the company’s CEO said on Wednesday. Volvo Cars last year moved production of …

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By Elisa Anzolin MILAN (Reuters) – Italian spirits group Campari plans to put the brakes on M&A and focus on developing its most promising brands as it faces a hit from U.S. tariffs, its new chief executive said. The decision to effectively pause acquisitions marks a significant shift in the company’s investment strategy, which in …

Campari pauses M&A to focus on brand growth amid US tariffs Read More »

MILAN (Reuters) – Luxury fashion group Prada’s leading shareholder Patrizio Bertelli said on Wednesday he was “very cautious” about the possibility of making acquisitions, although the group is ready to look at potential opportunities. “Relaunching a brand is difficult, in the early 2000s we bought Jil Sander and Helmut Lang and we made strategic mistakes,” …

Prada’s Bertelli ‘very cautious’ about possible acquisitions, he tells newspaper Read More »

By Alessandro Parodi (Reuters) – Tesla car sales in Germany fell by 76% in February, data showed on Wednesday, adding to the collapse in sales of Elon Musk’s EV brand across Europe in what could be a loyalty test for the close ally of U.S. President Donald Trump. Tesla sales were down 24% in the …

Tesla sales in Germany slump in February, in line with European markets Read More »

(Reuters) – The completion of EP Group’s takeover of Royal Mail-owner International Distribution Services is likely to be delayed to the second quarter of 2025 due to regulatory issues in Romania, the company said on Wednesday. The only regulatory condition that needs resolving pertains to foreign direct investment in Romania, Czech billionaire Daniel Kretinsky’s EP …

Billionaire Kretinsky’s Royal Mail takeover bid delayed Read More »

By Mateusz Rabiega and Jakob Van Calster (Reuters) -Reinsurance company SCOR narrowly avoided a yearly loss in 2024 thanks to a strong beat in its fourth quarter net profit driven by its property and casualty (P&C) business and a low tax rate reflecting a release of some tax provisions. It posted quarterly net income of …

French insurer SCOR narrowly avoids yearly loss helped by P&C business Read More »

PRAGUE (Reuters) -Payment issues linked to U.S. sanctions on Russia were behind the latest halt in oil supplies by Russia to the Czech Republic via the Druzhba pipeline, two sources familiar with the matter told Reuters. The halt was due to payment issues between Czech refineries’ Polish owner and Russian suppliers, the Czech industry minister …

Sanctions-linked payment issues halted Russian oil supply via Druzhba to Czech Republic, sources say Read More »