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Poland’s Orlen quarterly core operating profit jumps nearly 74%

27 Feb 2025

GDANSK (Reuters) – Polish energy group Orlen reported on Thursday a 73.8% surge in fourth-quarter core operating profit, slightly beating analysts’ estimates driven by strong performance in its oil and gas production business. The company generated earnings before interest, taxes, depreciation and amortization of 11.48 billion zlotys ($2.9 billion), it said in a statement, compared …

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Russia court suspends foreign corporate rights of vodka producer Russian Standard

27 Feb 2025

(Reuters) – A Russian court on Thursday suspended the corporate rights of the foreign holding companies of vodka maker Russian Standard Group, the Interfax news agency reported, ruling in favour of the finance ministry. The ministry had added the Russian Standard Group companies to a list of “economically significant organisations” this month and launched an …

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Russia’s Sberbank reports record 2024 profit of $18.1 billion

27 Feb 2025

By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Russia’s largest lender Sberbank reported on Thursday a record annual profit of 1.58 trillion roubles ($18.1 billion) after corporate and retail lending coped well with steadily increasing interest rates to 21%. The central bank’s high key rate has boosted banks’ net interest margins, but is so …

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Italy business morale weakens in February but consumers more upbeat

27 Feb 2025

ROME -Morale among Italian businesses and consumers moved in opposite directions in February, data showed on Thursday, offering little clarity over the prospects for the euro zone’s third largest economy. National statistics institute ISTAT’s composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, fell to 94.8 in February from 95.7 …

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UK government ‘minded to approve’ expansion of Gatwick Airport

27 Feb 2025

LONDON (Reuters) – Britain is set to approve the expansion of Gatwick Airport, the government’s transport minister said on Thursday, after she issued a “minded to approve” letter but said the deadline for a final decision would be extended to Oct. 27. The expansion plan will allow Gatwick, the country’s no.2 airport, to bring its …

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Battery chemicals maker Terrafame raises $105 million to fund investment

27 Feb 2025

HELSINKI (Reuters) – Finnish battery chemicals maker Terrafame said on Thursday it has raised 100 million euros ($104.72 million) in equity and shareholder loans, and secured an extension of the maturity of its bank loans and credit facilities. Terrafame has seen declining sales and negative cash flow in recent quarters amid a slowdown in demand …

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European carmaker shares slide after Trump threatens tariffs

27 Feb 2025

(Reuters) – Shares in some of the biggest European carmakers moved lower on Thursday after U.S. President Donald Trump floated a 25% “reciprocal” tariff on European cars and other goods. Europe’s automobiles and parts index retreated by 3.4% to two-week lows, falling the most among other sectoral indices on the region’s STOXX 600 index, which …

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Wind turbine maker Nordex upbeat on long-term US prospects

27 Feb 2025

By Marleen Kaesebier and Bernadette Hogg (Reuters) – German wind turbine maker Nordex expects continued growth in its U.S. market despite changes to the renewables landscape in the short term, its CEO said after better than expected core earnings. U.S. President Donald Trump suspended offshore leasing for wind power on his first day in office …

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US gives Serbian oil company last-minute sanctions reprieve, says President Vucic

27 Feb 2025

BELGRADE – The United States has suspended sanctions for 30 days on Serbian oil company NIS, which is majority-owned by Russian companies and runs the country’s only oil refinery, President Aleksandar Vucic said on Thursday, citing a U.S. Treasury document. Vucic posted a photo of the document on his Instagram page. Reuters was not immediately able …

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Aixtron delivers revenue warning, shares on course for worst day in a year

27 Feb 2025

By Ozan Ergenay (Reuters) – German chip systems manufacturer Aixtron’s annual revenue is expected to drop below last year’s level because of a challenging market environment, it warned on Thursday after a 16% slide in operating profit, sending its shares on course for a worst day in a year. The group expects full-year revenue between …

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