Reuters UK Business

Britain’s $333 billion trust sector faces more votes in US activist’s campaign

3 Feb 2025

By Sinead Cruise, Nell Mackenzie and Iain Withers LONDON (Reuters) -U.S. activist investor Boaz Weinstein may have suffered a defeat in the first vote on his plans to shake up Britain’s investment trust industry, but bosses in the 269 billion-pound ($333 billion) sector will not be sleeping easy. Weinstein’s Saba Capital Management wants to seize …

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Canada expected to divert aluminium to Europe after US tariffs

3 Feb 2025

By Pratima Desai LONDON (Reuters) – The cost of aluminium for consumers in Europe buying on the physical market has dropped due to expectations that Canadian shipments under U.S. tariffs from Tuesday will be diverted, physical market traders said. U.S. President Donald Trump has imposed 25% tariffs on Mexican and most Canadian imports and 10% …

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Russian court hands UAE-owned warehouse assets over to Russian state, company says

3 Feb 2025

(Reuters) – All 16 warehouses of Russia’s largest warehouse owner have been handed over to the Russian state, the company, Emirati-owned Raven Russia said, citing a court decision that it labelled as unlawful and groundless. Russia has placed several foreign-owned assets under the management of Rosimushchestvo, Russia’s federal property management agency, since the enactment of …

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Piraeus Financial Holdings in talks to buy Greek National Insurance

3 Feb 2025

ATHENS (Reuters) – Piraeus Financial Holdings, one of Greece’s four largest lenders, is in talks with private equity firm CVC Capital Partners to buy National Insurance, its CEO told a press conference on Monday. Earlier on Monday, the Greek lender, which owns Piraeus Bank, said in a bourse filing that it is assessing an investment …

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Reactions to Trump’s steep tariffs on Mexico, Canada and China

3 Feb 2025

(Reuters) -European leaders were bracing for U.S. tariffs after sweeping levies imposed by U.S. President Donald Trump, affecting billions of dollars in trade between Mexico, China and Canada, roiled global markets and currencies. Here are some responses to the tariffs out of Europe: BRITAIN Britain has a “fair and balanced” trading relationship with the United …

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Bitcoin drops to 3-week low as Trump tariffs rattle markets

3 Feb 2025

SINGAPORE/PARIS (Reuters) -Cryptocurrency prices slid on Monday, with bitcoin at a three-week low, as the risk of a trade war spooked investors and caused a selloff across financial markets. Bitcoin, the world’s biggest cryptocurrency, hit a three-week low of $91,441.89 overnight and stood at $95,730.35 at 0941 GMT, down 6.2% on the day. Smaller cryptocurrency …

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Central Europe’s manufacturing decline eases but tariff risk looms

3 Feb 2025

By Jason Hovet PRAGUE (Reuters) – A slump in most of Central Europe’s manufacturing sector eased in January and firms’ expressed optimism about the outlook, surveys showed on Monday, but analysts said the possibility of U.S. tariffs on Europe remained a prime risk. The S&P Global Purchasing Managers’ Index (PMI) for Poland rose to 48.8 …

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Fertiliser group K+S says tariffs will challenge U.S. farmers

3 Feb 2025

By Patricia Weiss FRANKFURT (Reuters) – German mineral mining group K+S, which also produces potash fertilisers in Canada, said that import tariffs to be imposed by the United States would greatly challenge U.S. farmers. “The Unites States, one of the largest users of potash fertilisers, does not have any noteworthy potash fertiliser production of its …

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Private equity firm Permira to open Dubai office this year, boost Middle East footprint

3 Feb 2025

DUBAI (Reuters) – Private equity firm Permira plans to open an office in Dubai this year, it said on Monday, as it joins other firms looking to expand their footprint in the region and strengthen ties with investors such as some of the world’s largest wealth funds. Permira said in a statement that the office …

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