By Arunima Kumar (Reuters) – BP slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and investor confidence. The oil major, which has underperformed peers like Shell and Exxon, has come under increasing pressure …
BP cuts renewable investment and boosts oil and gas in strategy shift Read More »
By Maggie Fick LONDON (Reuters) – British drugmaker GSK will no longer set diversity targets, it said on Thursday, as it became the latest company to scale back or abandon such goals in response to the U.S. president’s opposition to them. President Donald Trump has issued a series of executive orders cutting federal diversity, equity …
GSK abandons diversity targets following Trump pressure Read More »
ROME (Reuters) – Italy urged that there be no backtracking on a major international taxation agreement at the G20 talks in South Africa, Economy Minister Giancarlo Giorgetti said on Thursday, adding that unilateral approaches would discourage investment. U.S. President Donald Trump last month declared that a global corporate minimum tax deal reached in 2021 had …
G20 should not backtrack on global tax deal, Italy says Read More »
By Christy Santhosh (Reuters) -Novavax on Thursday posted a narrower fourth-quarter loss and said it expects its licensing deal with French drugmaker Sanofi for COVID-19 vaccines to generate royalties, and reduce selling and administrative expenses. Shares of Novavax, which makes protein-based vaccines as opposed to rivals Moderna and Pfizer’s messenger RNA-based shots, jumped 10% in …
Novavax sees royalties, reduced expenses on COVID vaccines from Sanofi partnership Read More »
By Ariane Luthi and Dave Graham ZURICH (Reuters) – A likely delay in tougher new capital rules for UBS has fed uncertainty about the outlook for the Swiss bank but also paused potentially onerous burdens as the Trump White House’s drive to deregulate puts U.S. business rivals on the back foot. Swiss authorities vowed to …
Swiss banking rule delay a mixed blessing for UBS Read More »
By David Latona MADRID (Reuters) – Telefonica’s newly-appointed chief Marc Murtra said on Thursday the company would complete a strategic review before the end of this year as he championed Europe’s “strategic autonomy”, which he said required the sector’s consolidation. Murtra’s remarks came after the Spanish firm posted its annual results, which saw a 2.8% …
Telefonica’s new chief calls for European consolidation amid strategic review Read More »
(Reuters) -The European Commission has dropped previously announced interim measures against Lufthansa as part of an ongoing antitrust investigation, it said on Thursday. The Commission said last month that it would order the German carrier to reinstate charter airline Condor’s access to Lufthansa’s short-haul network to feed Condor’s Frankfurt-New York route. The order related to …
EU lifts interim measures in Lufthansa antitrust investigation Read More »
By Tom Sims and Paul Arnold FRANKFURT (Reuters) – Reinsurance company Swiss Re said on Thursday that claims from wildfires in Los Angeles would be less than $700 million and would impact its first quarter results, the latest European reinsurer to disclose a hit from the January blaze. The wildfires killed more than two dozen …
Swiss Re sees hit of less than $700 million from Los Angeles wildfires Read More »
By Shashwat Awasthi and Yadarisa Shabong (Reuters) -British insurer Aviva beat annual profit expectations on double-digit growth in its general insurance premiums in 2024, and said its planned 3.7 billion pound ($4.69 billion) acquisition of smaller rival Direct Line was on track. The company, which offers car, home and life insurance in the UK, Ireland …
Aviva beats profit estimates as insurance premiums soar Read More »
By Mathieu Rosemain PARIS (Reuters) – French insurer AXA reported better-than-expected full-year earnings on Thursday, boosted by increased premiums from individual insurance policies, fewer claims and increased margins for its natural catastrophe coverage. Europe’s third-biggest insurer by market capitalisation said it expected its results this year would see a pre-tax impact of about 100 million …
AXA beats profit forecasts, avoids worst of Los Angeles fire claims Read More »
