Reuters UK Business

By Arsheeya Bajwa (Reuters) -IBM surpassed fourth-quarter profit estimates on Wednesday, driven by robust demand in its software unit as businesses ramped up IT spending, sending the company’s shares soaring about 10% in extended trading. The software segment recorded its biggest revenue jump in five years, as customers prioritized spending on cloud infrastructure amid a …

IBM beats profit estimates as AI shift boosts software performance, shares surge Read More »

HELSINKI (Reuters) – Patria has acquired Belgium-based Ilias Solutions for an undisclosed sum in a deal the Finnish defence group believes will allow it to lead the way in the digitisation of Europe’s defence industry. Ilias’ digital defence software is used by more than 30 countries, NATO and air forces including those of the United …

Finland’s Patria buys digital defence company Ilias Solutions Read More »

By Kate Abnett BRUSSELS (Reuters) -The European Union’s drive to simplify rules will not weaken the bloc’s climate change goals, European Commission President Ursula von der Leyen said. She was speaking on Wednesday after the Commission published a plan to boost EU competitiveness, the first of a series of EU policies to support industries, as …

EU says drive to simplify will not weaken climate agenda Read More »

DUBLIN (Reuters) – Ireland’s Data Protection Commission has requested information from Chinese artificial intelligence app DeepSeek about data processing conducted in relation to Irish users, it said on Wednesday. While the Data Protection Commission is the lead EU regulator for most of the top U.S. internet firms due to the location of their European Union …

Irish data regulator requests information from DeepSeek on data processing Read More »

(Reuters) -Lufthansa has agreed to acquire a 10% stake in IPO-bound Latvian airline airBaltic, the German airline said on Wednesday, its latest move to expand its European presence and gain access to more planes to relieve its supply constraints. Speculation has mounted over the next candidates for consolidation in Europe’s fragmented airline scene. Portugal’s TAP …

Lufthansa acquires 10% stake in Latvia’s airBaltic to boost European presence Read More »

By Stephen Nellis, Krystal Hu, Jeffrey Dastin, Anna Tong and Katie Paul (Reuters) – Top White House advisers this week expressed alarm that China’s DeepSeek may have benefited from a method that allegedly piggybacks off the advances of U.S. rivals called “distillation.” The technique, which involves one AI system learning from another AI system, may …

Why blocking China’s DeepSeek from using US AI may be difficult Read More »

By Marie Mannes STOCKHOLM (Reuters) -Swedish electric-vehicle battery maker Northvolt agreed with Volvo Cars on Wednesday to sell its stake in their joint battery venture Novo Energy for an undisclosed sum and explore potential collaborations in North America. Northvolt, which is under U.S. bankruptcy protection, ceased funding for most of its joint ventures, including Novo, …

Northvolt sells stake in battery unit to Volvo, to explore North American deals Read More »

By Valentina Za MILAN (Reuters) – Milan mayor Giuseppe Sala on Wednesday sided with Mediobanca in a takeover battle launched by state-backed Monte dei Paschi di Siena (MPS), signalling the financial saga was becoming increasingly political. Sala, a former corporate executive, leads a left-wing administration in Italy’s financial capital. MPS’s 13.3 billion euro ($13.8 billion) …

Milan mayor sides with Mediobanca, saying MPS bid is Rome-Milan match Read More »