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Net profit at Italy’s top banks rose 8% to 24 billion euros last year

18 Feb 2025

By Alberto Chiumento (Reuters) – Six leading Italian banks reported a 7.6% annual increase in combined net profit last year, reaching 24.3 billion euros ($25.5 billion), despite falling interest rates. Combined revenue rose 5.8% year-on-year to 69 billion euros with 40 billion deriving from the net interest income, a measure of profit from the gap …

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Commerzbank signs 15-year contract for new high-rise Frankfurt office

18 Feb 2025

By Tom Sims FRANKFURT (Reuters) – Commerzbank, which last week announced job cuts in Germany as it fends off a takeover approach from Italy’s UniCredit, has signed a 15-year rental contract for a new high-rise office in Frankfurt. The German bank said the building will allow it to help consolidate staff scattered around Frankfurt next …

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Trump tariffs would test pricing power of Europe’s luxury goods makers

18 Feb 2025

By Tassilo Hummel and Mimosa Spencer PARIS (Reuters) – European luxury goods makers say they could draw on pricing power to offset the cost of any tariffs imposed by U.S. President Donald Trump, but analysts say some brands may have limited room to hike prices. Famous brands like LVMH’s Louis Vuitton or Kering’s Gucci are …

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Britain poised for 5% energy price-cap rise in April, Cornwall Insight says

18 Feb 2025

By Susanna Twidale LONDON (Reuters) – Britain’s domestic energy price cap is expected to rise almost 5% in April, analysts at Cornwall Insight said on Tuesday, with cold weather and low gas storage levels in Europe keeping wholesale prices high. The rise, which would be the third consecutive quarterly increase, would be a blow for …

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What the German election means for markets

18 Feb 2025

LONDON (Reuters) – Sunday’s German election may result in a conservative-led coalition government that faces pressure for much-needed change to revive the stagnant economy – and moves to block reform by populist parties if they do well. Europe’s largest economy could face months of uncertainty. Polls show the conservative CDU/CSU bloc led by Friedrich Merz …

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German investor morale improves ahead of election

18 Feb 2025

By Maria Martinez BERLIN (Reuters) -German investor morale improved at the fastest rate in two years in February on expectations the economy will pick up under a new government after Sunday’s election, although the current situation remains weak. Investor morale improved more than expected, the ZEW economic research institute said on Tuesday, reporting an increase …

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Edenred sees 2025 headwinds overshadow profit beat; shares fall

18 Feb 2025

By Dimitri Rhodes and Hugo Lhomedet (Reuters) -French vouchers provider Edenred said on Tuesday it expects slower revenue growth in 2025 as it winds down its medium-term “Beyond22-25” strategic plan amid economic uncertainty in Europe. The company’s shares fell 6% at 1103 GMT, paring losses after falling as much as 8.7%. Morningstar analyst Ben Slupecki …

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