Reuters UK Business

By Joanna Plucinska and Paolo Laudani (Reuters) -Europe’s largest travel operator TUI reported a jump in first-quarter profit and maintained its profit outlook for the coming year on Tuesday, but saw its shares sink nearly 11% as bookings growth weakened. While European airlines faced struggles last year, travel companies such as TUI benefited from a …

Travel operator TUI’s profit jumps but weak bookings drag on shares Read More »

LISBON (Reuters) – A Portuguese court of appeal said on Monday that 11 major banks that had been convicted of collusion in housing loans do not have to pay a total fine of 225 million euros ($232 million) as the statute of limitations on the unlawful acts had expired. In September, the Santarem Competition Court …

Portugal court spares big banks from paying millions in fines for mortgage collusion Read More »

By Mimosa Spencer and Tassilo Hummel PARIS (Reuters) – Luxury group Kering said its return to growth will take time after its embattled star label Gucci posted another quarter of weak sales and has yet to name a new chief designer to galvanise the Italian brand. Shares in Kering jumped in early trade on Tuesday, …

Gucci sales slump continues as market awaits turnaround Read More »

By John Revill ZURICH (Reuters) – Swiss testing company SGS wants to step up its acquisitions drive, Chief Executive Geraldine Picaud said on Tuesday, and would consider larger deals despite ending talks over a multi-billion merger with French rival Bureau Veritas. Geneva-based SGS has already bought three companies in 2025 after buying 11 in 2024 …

Swiss testing company SGS aspires to an acqusition per month Read More »

MOSCOW (Reuters) – Russia’s Nornickel, a major producer of refined nickel and palladium, said on Tuesday it is in active talks on a joint venture in China with potential investments included in early financial plans for 2025-2026. It gave no further details of the talks. Two sources with knowledge of the matter told Reuters in …

Russia’s Nornickel says it is in active talks on China JV Read More »

By William Schomberg LONDON (Reuters) -The cost of the 2008 global financial crisis (GFC) should not be forgotten during a backlash against the burden of financial regulation, Bank of England Governor Andrew Bailey said on Tuesday, warning the bank needed to monitor new vulnerabilities. “There is a reaction taking place against regulation, and the responses …

Bank of England’s Bailey warns of backlash against regulation Read More »