By Richa Naidu and Oliver Hirt LONDON (Reuters) – Nestle reported slightly better than expected annual sales growth on Thursday, driven by price increases, but the world’s largest packaged food company warned of a narrower profit margin in 2025. Under new CEO Laurent Freixe, the company is trying to grow sales volumes, invest in innovation …
Nestle beats sales forecasts but expects profit margin to shrink Read More »
By Forrest Crellin PARIS (Reuters) – France needs to spend about 100 billion euros ($104 billion) by 2040 to reinforce and expand its electricity grid as demand grows, including from data centres, and as new nuclear reactors come online, state grid operator RTE said on Thursday. The French government has ambitious plans to become Europe’s …
French power grid needs 100 billion euros of investment by 2040, says operator Read More »
By Sinead Cruise and Chandini Monnappa LONDON (Reuters) -Barclays raised its 2025 performance targets on Thursday after reporting a better than expected 24% rise in annual pretax profit driven by investment banking income growth and strength in its domestic lending business. The bank’s shares – which had hit their highest since March 2011 on Wednesday …
Barclays ups performance targets as investors cash in on share price surge Read More »
By Robert Harvey and Alex Lawler LONDON (Reuters) – Russia’s oil exports could be sustained if it finds workarounds to the latest U.S. sanctions package, the International Energy Agency (IEA) said on Thursday, as it forecast that growth in global oil supply would outpace demand this year. Russian crude production rose by around 100,000 barrels …
Russia may develop oil sanctions workarounds as global supply rises, IEA says Read More »
MILAN (Reuters) – Eyewear maker EssilorLuxottica plans to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands, Chief Executive Francesco Milleri said late on Wednesday. EssilorLuxottica and Meta have been collaborating since 2019, creating two generations of Ray-Ban branded smart glasses, and last year agreed a …
Essilorluxottica to boost production capacity for smart glasses Read More »
BERLIN (Reuters) – The German antitrust authority has charged Apple with abusing its market power through its app tracking tool and giving itself preferential treatment in a move that could result in daily fines for the iPhone maker if it fails to change its business practices. The move follows a three-year investigation by the Federal …
German regulator charges Apple with abuse of power over app tracking tool Read More »
MILAN (Reuters) – Prada has appointed Silvia Onofri as Chief Executive Officer of its Miu Miu brand, the Italian luxury group said on Thursday. Onofri, former president of outerwear brand Napapijri, with previous executive roles at Bulgari and Bally, will take her new role starting on February 26. Former Miu Miu CEO Benedetta Petruzzo left …
Prada appoints Silvia Onofri as CEO of Miu Miu brand Read More »
(Reuters) – Italian drug maker Recordati raised on Thursday its core profit (EBITDA) forecast to a range between 970 million euros and 1 billion euros ($1.01-$1.04 billion) with an around 37.5% EBITDA margin, from previous guidance at around 37%. The pharmaceutical firm’s 2025 revenue forecast has also improved to a range of 2.60 billion euros …
Italian drug maker Recordati boosts 2025 core profit, revenue forecast Read More »
By Nell Mackenzie LONDON (Reuters) – Investors are choosing hedge funds rather than re-upping their private equity investments after closed deals, as deal making in recent years has dried up, said BNP Paribas. WHY IT’S IMPORTANT Large institutions have become wary of a souring in public markets as they seek to put their money into …
Investors switch from private equity to hedge funds, says BNP Paribas report Read More »
(Reuters) – Castellum has increased its shareholding in Entra to more than a third of all its shares and will make a mandatory offer for the Norwegian real estate firm, it said on Thursday. The Swedish real estate group bought further 100 shares in Entra for 110.40 Norwegian crowns per share, crossing the threshold for …
Sweden’s Castellum to make takeover offer for Entra after raising stake Read More »
