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(Reuters) – Stellantis has no intention of selling its luxury vehicle business Maserati or aggregating the unit with other Italian luxury groups, the Jeep maker said on Tuesday. “Stellantis restates unwavering commitment to Maserati’s bright future as the unique luxury brand of the 14 Stellantis brands,” the carmaker said in a statement, while also reaffirming …

Stellantis says no intention of selling Maserati, after CEO issues warning Read More »

(Reuters) -Pinterest forecast current-quarter revenue below Wall Street expectations on Tuesday, hurt by tough competition from larger social media platforms in a stabilizing digital advertising market. Its shares dropped 20.7% in extended trading. The image-sharing platform competes with the likes of TikTok and Meta Platforms-owned Facebook and Instagram – the preferred platforms for advertisers because …

Pinterest forecasts downbeat revenue as competition grows; shares slump Read More »

By Ron Bousso LONDON (Reuters) -BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail. The result is likely to ease pressure on CEO Murray Auchincloss after BP fell short of profit …

BP raises dividend as $2.8 billion quarterly profit beats forecasts Read More »

By Tom Sims and Alexandra Schwarz-Goerlich VIENNA (Reuters) -Austria’s Raiffeisen Bank International said on Tuesday it would further decrease its extensive business in Russia in agreement with the European Central Bank. Raiffeisen Bank (RBI) has been under pressure from authorities on both sides of the Atlantic to reduce its footprint in the country following the …

Austria’s RBI to ‘drastically’ shrink business in Russia Read More »

By Alexander Marrow (Reuters) -Russian technology company Yandex on Tuesday said it may start paying dividends for the first time, as it reported a sharp rise in core earnings after completing a lengthy and complex split from its Nasdaq-listed, Dutch parent company. A Russian consortium of buyers this month finalised a $5.4 billion cash and …

Russia’s Yandex, under new ownership, proposes dividends for first time Read More »

ROME (Reuters) -Italy’s economy grew by 0.2% in the second quarter from the previous three months, driven by domestic demand, preliminary data showed on Tuesday, in line with forecasts. On a year-on-year basis, second quarter gross domestic product in the euro zone’s third largest economy was up 0.9%, national statistics bureau ISTAT said, also in …

Italy Q2 GDP rises 0.2%, supported by domestic demand Read More »

By Pranav Kashyap (Reuters) -European shares were muted on Tuesday as investors exercised caution ahead of the Federal Reserve’s monetary policy meeting and Euro zone inflation data, but gains in technology and oil stocks keep the benchmark afloat. The pan-European STOXX 600 index was up 0.1% at 512.44 points by 0830 GMT. The technology sector …

European shares muted ahead of Fed meeting, Euro inflation data Read More »

By Jesús Aguado MADRID (Reuters) -Spanish bank Unicaja on Tuesday raised its forecast for lending income for 2024 after interest rates remained higher than initially expected in the second quarter, though it said margins fell on higher funding costs. The decline in margins in April-June from the previous quarter sent shares in Spain’s sixth-largest bank …

Unicaja raises 2024 lending income forecast, though margins’ squeezed Read More »