LONDON (Reuters) -The European Central Bank cut interest rates on Thursday and kept the door open to further policy easing as concerns over lacklustre economic growth supersede worries about persistent inflation. It was the fifth ECB rate cut since June and markets expect two or three more this year, driven by arguments that the biggest …
ECB cuts rates again, keeps door open to further easing Read More »
By Gavin Jones and Antonella Cinelli ROME (Reuters) -The Italian economy stagnated in the fourth quarter of last year from the previous three months, preliminary data showed on Thursday, missing a forecast for marginal growth and casting a shadow over prospects for this year. The flat gross domestic product reading marked the second straight quarter …
Italy’s economy stagnates, casting shadow over outlook Read More »
By Elviira Luoma (Reuters) – Swedish mining equipment maker Epiroc on Thursday reported a fourth-quarter operating profit that beat market expectations and said it expects underlying mining demand, both for equipment and aftermarket, to remain at a high level in the near term. Mining customer demand remained high, while construction customer demand stayed weak, Epiroc …
Epiroc beats operating Q4 profit expectations, sees strong mining demand Read More »
By Alberto Chiumento (Reuters) – Italian brake maker Brembo on Thursday reported stable preliminary results for 2024, in line with its yearly guidance, despite the difficulties the automotive sector is going through. Brembo’s stock jumped as much as 5.5% to 9.49 euros after the results. At 1250 GMT, the stock was up 4.8% at 9.42 …
Brake maker Brembo jumps 5.5% after 2024 preliminary results meet guidance Read More »
By Tom Sims and Matthias Inverardi FRANKFURT (Reuters) – Deutsche Bank on Thursday posted a bigger-than-expected drop in fourth quarter and 2024 full-year profit as legal provisions and restructuring costs eroded revenue gains at its global investment banking division. Deutsche, Germany’s largest lender, also abandoned a key cost target, and it announced plans to buy …
Deutsche Bank posts weaker-than-expected profit and ditches 2025 cost target Read More »
MOSCOW (Reuters) – The European Union’s sanctions on vessels transporting Russian grain, along with Turkey’s wheat import ban, impacted Russian grain exports at the end of 2024, the country’s central bank said on Thursday. The EU sanctioned 79 vessels, including four accused of undermining or threatening “the economic subsistence or food security of Ukraine, such …
EU vessel sanctions weigh on Russian grain exports, central bank says Read More »
MILAN (Reuters) -Italian billionaire Francesco Gaetano Caltagirone has emerged as a leading player in a reshaping of Italy’s financial sector triggered by a surge in M&A activity. GENERALI AND MEDIOBANCA BATTLES Caltagirone last year expanded his investments in Italy’s financial sector, becoming a key shareholder in bailed-out bank Monte dei Paschi di Siena (MPS) and …
Explainer-Billionaire Caltagirone’s role in Italy’s banking M&A wave Read More »
By Gianluca Lo Nostro and Jakob Van Calster (Reuters) – The CEO of telecoms group KPN said on Thursday that any tie-up with local rival Odido in the Netherlands was “unlikely”, after a report last year said private equity firms Warburg Pincus and Apax Partners were mulling a listing or a sale of the mobile …
KPN-Odido telecoms tie-up in Netherlands ‘unlikely’, KPN CEO says Read More »
(Reuters) -Thales Alenia Space has won an 862 million euro ($897 million) order from the European Space Agency (ESA) to deliver a lunar lander for moon exploration launches to begin in the 2030s, the firm said on Thursday. The joint venture between Thales and Leonardo will be tasked with building the Argonaut lunar lander for …
ESA taps Thales Alenia Space to build lunar lander Read More »
By Yadarisa Shabong and Chandini Monnappa (Reuters) -Mulberry Group is seeking to win back customers in Britain, build a digital presence in the United States and scale back in China, CEO Andrea Baldo said as he outlined his strategy to turn around the struggling luxury handbag maker. Like larger rival Burberry, Mulberry said it would …
Mulberry eyes British comeback as focus shifts away from China Read More »
