Reuters UK Business

Santander announces 10 billion euros in buybacks, sees higher profitability

5 Feb 2025

By Jesús Aguado MADRID (Reuters) -Santander on Wednesday announced 10 billion euros ($10.40 billion) in share buybacks for 2025 and 2026 and forecast higher profitability on the back of stronger growth in its U.S. consumer unit and efficiency gains. With the Spanish lender also reporting record quarterly and full-year profits, its shares were up more …

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Michelin sees possible impact on sourcing, investments from Trump tariffs

5 Feb 2025

(Reuters) – Michelin is assessing the impact from possible U.S. tariffs on Canada and Mexico but it is too early to estimate consequences from the levies on its supply chain and investments, the French tyre maker said on Wednesday. Most of the tyres Michelin sells in the United States are produced locally, a spokesperson for …

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UK’s SSE renewables output jumps but sees soft annual profit

5 Feb 2025

(Reuters) -British utility SSE reported on Wednesday that its renewables output increased in the nine months ending Dec. 31, helped by capacity growth, although the power generator and network operator issued a cautious profit outlook. SSE forecast adjusted earnings of 154-163 pence per share for the year ending March 31, or 158.5 at the midpoint, …

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Santander Bank Polska’s Q4 net profit slips but beats expectations

5 Feb 2025

GDANSK (Reuters) -Santander Bank Polska on Wednesday reported a 7% fall in fourth-quarter net profit, hit by rising costs related to foreign currency mortgage loans, but beat analysts’ expectations. Santander Bank Polska, part of Santander, said quarterly net profit amounted to 913.4 million zlotys ($225.25 million), above the 830 million zlotys expected by analysts in …

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Russia seeks to end foreign corporate holding of vodka producer Russian Standard

5 Feb 2025

(Reuters) – Russia’s finance ministry has added the Russian Standard Group companies to a list of “economically significant organisations” and launched an arbitration case over their foreign corporate holding structure, it said on Wednesday. The ministry listed holding companies in Cyprus and the United States and said that Western sanctions were impeding the operations of …

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TotalEnergies CEO says US financing for Mozambique LNG project expected in coming weeks

5 Feb 2025

PARIS (Reuters) – TotalEnergies CEO Patrick Pouyanne said on Wednesday that financing from the United States for its $20 billion Mozambique LNG project is expected to be approved in coming weeks, with other credit agencies to follow in the months after. The company is waiting for loan re-approvals from the United States, UK and Dutch …

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Jeweller Pandora forecasts lower growth in 2025 with Europe lagging US

5 Feb 2025

By Helen Reid and Isabelle Yr Carlsson COPENHAGEN (Reuters) – Jewellery maker Pandora said on Wednesday that its growth and profit margin this year would be lower than last, forecasting sluggish European demand but stronger consumer sentiment in its biggest market, the United States. “It’s a stronger consumer demand and sentiment in the U.S. than …

Jeweller Pandora forecasts lower growth in 2025 with Europe lagging US Read More »

UK services firms speed up job cuts but price pressures strong, PMI shows

5 Feb 2025

LONDON (Reuters) – British services firms lost momentum last month as a looming rise in employer taxes led to the fastest job cuts in four years but price pressures remained strong, according to a survey that underscored the challenge facing the Bank of England this week. The S&P Global UK Services Purchasing Managers Index fell …

UK services firms speed up job cuts but price pressures strong, PMI shows Read More »

UK electric car sales rise in January but lag behind mandate, industry data shows

5 Feb 2025

(Reuters) -Registrations for new electric vehicles in the UK rose in January but their market share remained short of the 28% mandate for the year, industry data showed on Wednesday. The Society of Motor Manufacturers and Traders (SMMT) reported that volumes of battery electric vehicles (BEV) rose by 41.6% year-on-year to rise to a 23.7% …

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