Reuters UK Business

Trump’s tariff threats hang over young Arnault’s mission to fix LVMH drinks unit

4 Feb 2025

By Mimosa Spencer and Tassilo Hummel PARIS (Reuters) – Alexandre Arnault is taking a key role at LVMH’s $6 billion wine and spirits business just as U.S. President Donald Trump risks unleashing a trade war, complicating a turnaround effort that could decide the 32-year-old’s future in his father’s empire. The alcohol division, whose brands include …

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Dassault Systemes says Volkswagen selects its 3DEXPERIENCE platform

4 Feb 2025

By Johan BODINIER and Anna Peverieri (Reuters) -Dassault Systemes on Tuesday announced a long-term partnership with Volkswagen to accelerate the German automaker’s transition towards vehicles that rely heavily on software to control and optimise key functions. The French software group’s 3DEXPERIENCE platform was selected by Volkswagen as its main engineering and manufacturing platform, it said. …

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Investors in two more UK trusts reject activist Saba’s campaign

4 Feb 2025

LONDON (Reuters) – Shareholders in two more British investment trusts dealt a further blow to Saba Capital’s campaign to shake up the UK’s 269 billion-pound ($334 billion) trust sector on Tuesday, after rejecting the U.S. activist’s proposals. Investors in both the Henderson Opportunities Trust and CQS Natural Resources Growth & Income rejected Saba’s resolutions to …

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Spotify predicts strong quarter after cost cuts power first annual profit

4 Feb 2025

By Jaspreet Singh (Reuters) -Spotify Technology reported its first annual profit on Tuesday and forecast quarterly earnings above Wall Street estimates, as the Swedish audio-streaming giant benefits from strong user growth, price hikes and a cost-cutting drive. Shares of the company, which competes with Apple and Amazon’s music streaming offerings, rose nearly 10% in early …

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Pentair forecasts annual profit below estimates amid high borrowing cost

4 Feb 2025

(Reuters) – Water technology company Pentair forecast 2025 profit below estimates on Tuesday and flagged slow demand in its flow and water solutions segments, sending its shares down 2.6% before the bell. A slow housing market due to high borrowing costs have led to less demand for some of the company’s residential products. The flow …

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Italy’s Intesa strengthens 2025 profit goal, increases buyback size

4 Feb 2025

By Valentina Za MILAN (Reuters) -Italy’s biggest bank Intesa Sanpaolo strengthened its profit outlook on Tuesday, forecasting rising revenue and lower costs this year, after incentives for early staff exits weighed on fourth quarter income. Intesa, which kicked off the reporting season for Italian lenders, is keeping out of the consolidation wave gripping the sector …

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Aerospace supplier TransDigm raises profit forecast on strong aftermarket demand

4 Feb 2025

(Reuters) – Aerospace supplier TransDigm Group raised its annual profit forecast on Tuesday, betting on strong demand for aftermarket parts and services from planemakers and carriers. The company, which supplies aircraft components such as cockpit security systems and engine sensors for commercial and military jets, also beat Wall Street estimates for quarterly profit. Demand for …

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Ferrari to showcase its first electric vehicle on Oct. 9

4 Feb 2025

MILAN (Reuters) – Luxury sports carmaker Ferrari will present its first fully-electric vehicle (EV) at its capital markets day scheduled on Oct. 9, Chief Executive Benedetto Vigna said on Tuesday. Presenting Ferrari’s full year results to reporters, Vigna declined to provide details about the upcoming model, beyond saying it would be launched in a unique …

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Investors seek answers on Novo Nordisk’s next-gen obesity drug CagriSema

4 Feb 2025

By Maggie Fick and Robin Respaut LONDON/SAN FRANCISCO (Reuters) – Novo Nordisk is under pressure from investors for more information about its next-generation obesity drug candidate CagriSema amid a lack of clarity over trial results that hammered its shares in December. Novo believes CagriSema could be more powerful than its blockbuster weight-loss injection Wegovy, but …

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