Reuters UK Business Archives - Page 1388 of 3179

Outokumpu pulls brake on investment plans amid weak stainless steel market

13 Feb 2025 13 Feb 2025

By Jagoda Darlak (Reuters) -Finland’s Outokumpu on Thursday called off immediate plans to invest in more stainless steel capacity in the U.S. and small nuclear production in Finland, as the weak stainless steel market and high import pressures weigh on earnings. Outokumpu said it was shelving a plan to invest in added U.S. production capacity …

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BNP, EIB announce 1 billion euros in guarantees for EU wind projects

13 Feb 2025 13 Feb 2025

(Reuters) – BNP Paribas has signed an agreement with the European Investment Bank (EIB) to support wind energy projects across the European Union, which could generate up to 8 billion euros ($8.31 billion) in investments, the banks said on Thursday. The euro zone’s largest lender and the EIB said in a joint statement that they …

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BAT takes $8 billion charge for Canadian settlement, warns on 2025 sales

13 Feb 2025 13 Feb 2025

(Reuters) -British American Tobacco on Thursday said it would take a 6.2 billion pound ($7.74 billion) hit from a Canadian lawsuit and warned tax changes in Bangladesh and Australia would dent its performance in 2025, sending its shares down more than 9%. BAT, the maker of Lucky Strike and Dunhill cigarettes, and some of its …

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Italy’s Poste set to hold weekend board meeting on TIM-Nexi stake swap, sources say

13 Feb 2025 13 Feb 2025

By Giuseppe Fonte, Elvira Pollina and Valentina Za MILAN (Reuters) -State-backed financial conglomerate Poste Italiane is expected to hold a board meeting over the weekend to discuss a potential investment in Telecom Italia (TIM), three sources close to the matter said. Under the scheme being considered, Poste would acquire state lender Cassa Depositi e Prestiti’s …

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BAT hopeful Trump administration can take on illicit vapes, CEO says

13 Feb 2025 13 Feb 2025

LONDON (Reuters) – British American Tobacco is optimistic U.S. President Donald Trump’s new administration can tackle a vast market for illegal vapes in the United States, Chief Executive Tadeu Marocco said on Thursday. CONTEXT/WHY IT MATTERS Big tobacco companies like BAT say widespread sales of disposable, flavoured products lacking the regulatory authorisations required to be …

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Moody’s forecasts annual profit above estimates on robust demand

13 Feb 2025 13 Feb 2025

(Reuters) – Ratings agency Moody’s Corp forecast 2025 profit above Wall Street estimates on Thursday, anticipating strong demand for its data and analytics offerings amid macroeconomic ambiguity, sending its shares up over 3% in premarket trading. Demand for market analytical tools has risen as investors try to capture value amid diminishing chances of interest rate …

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Uniper says core profit may fall by two thirds in 2025

13 Feb 2025 13 Feb 2025

FRANKFURT (Reuters) -Uniper, which may be sold or partially listed this year, on Thursday said its core profit may fall by as much as two thirds in 2025, as the German state-owned energy firm released preliminary results for the past financial year. The group, which was bailed out during Europe’s energy crisis, expects its adjusted …

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Polish state-owned fund PFR drops plan to bid for Talgo, Expansion reports

13 Feb 2025 13 Feb 2025

MADRID (Reuters) -Polish state-owned fund PFR has dropped its plan to bid for Spanish train manufacturer Talgo after the Spanish government opposed the move, Expansion newspaper reported on Thursday, citing unnamed market sources. A spokesperson for Economy Minister Carlos Cuerpo declined to comment on whether the government opposed the Polish bid. Cuerpo told Polish newspaper …

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UK hopeful on U.S. steel tariffs exemption, business minister says

13 Feb 2025 13 Feb 2025

By Paul Sandle LONDON (Reuters) – Britain will seek to persuade the U.S. government that its steel and aluminium products should avoid tariffs due to the sensitive role they play in the U.S. defence sector and its manufacturing supply chains, Britain’s business minister said on Thursday. U.S. President Donald Trump said on Sunday he would …

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Australia’s Macquarie, UK’s Renewi reach terms for $881 million offer

13 Feb 2025 13 Feb 2025

(Reuters) – Waste management firm Renewi and Australia’s Macquarie have reached an agreement on the terms of an offer to buy the British firm for about 707 million pounds ($880.92 million), the companies said on Thursday. ($1 = 0.8026 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Sriraj Kalluvila)