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Aircraft lessor Avolon books $177 million from Russian insurance settlement

13 Feb 2025

DUBLIN (Reuters) – Aircraft lessor Avolon has booked $177 million in proceeds from settlements of insurance claims in respect of aircraft stranded in Russia after Western sanctions in 2022 and does not expect additional recoveries. Avolon, the world’s second -largest aircraft lessor, last week said it had discontinued court proceedings in Ireland after reaching commercial …

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Norway oil industry expects another year of record investment

13 Feb 2025

By Nerijus Adomaitis OSLO (Reuters) – Norwegian oil and gas investments this year will exceed the record levels of 2024, driven by a flurry of development projects, a national statistics office (SSB) industry survey showed on Thursday. The country’s biggest business sector forecast investment of 253.8 billion crowns ($22.61 billion) in 2025, up from 251.2 …

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Finland’s Neste to slash around 600 jobs as quarterly core profit slumps

13 Feb 2025

(Reuters) -Finnish oil refiner and biofuel maker Neste will slash around 600 positions as excess supply in the renewable fuel market caused a slump in quarterly core profit, it said on Thursday. The company’s shares fell 10% at 0815 GMT. “Our current financial performance is weak and not sustainable”, CEO Heikki Malinen said in a …

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Embracer misses quarterly profit forecast on higher costs, weak box office

13 Feb 2025

By Jesus Calero (Reuters) – Swedish games developer Embracer’s third-quarter operating profit came below market expectations on Thursday, as higher user acquisition costs in mobile games and weaker-than-expected box office performance weighed on results. WHY IT’S IMPORTANT Embracer, like other gaming groups, benefited from growing demand for video games during COVID-19 lockdowns, but has since …

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Siemens can deal with tariffs, CEO says, after Q1 earnings beats forecasts

13 Feb 2025

By John Revill ZURICH (Reuters) -Siemens will be able to deal with potential tariffs and continued economic uncertainties, CEO Roland Busch said on Thursday, as the engineering company posted better than expected profit. The company overcame ongoing struggles at its factory automation business, and said it was seeing signs of recovering demand from customers in …

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UK insurer Lancashire sees up to $165 million hit from Los Angeles wildfires

13 Feb 2025

(Reuters) -British insurer Lancashire Holdings said on Thursday it expects losses of between $145 million and $165 million related to the California wildfires. The ring of wildfires that devastated Los Angeles in January is expected to hit insurers with estimated losses as high as $20 billion, potentially making it the costliest disaster in California’s history. …

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German inflation remains flat at 2.8% in January

13 Feb 2025

BERLIN (Reuters) – German inflation remained flat year-on-year in January at 2.8%, preliminary data from the federal statistics office showed on Friday, in line with a forecast by analysts polled by Reuters. December also saw a year-on-year increase in consumer prices of 2.8%, based on data harmonised to compare with other European Union countries. (Writing …

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Analysis-Germany faces year of industrial strife as companies go into battle with workers

13 Feb 2025

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Germany faces major labour disputes in 2025, as an established bond between firms and workers — long seen as a pillar of the country’s economic success — is starting to unravel in the wake of brutal competition, economic weakness and spiralling costs. Labour bosses at industrial …

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