Reuters UK Business

Germany plans guarantees for TKMS to secure Argentinian submarine deal, say sources

29 Jan 2025

BERLIN (Reuters) – Germany’s budget committee is expected to approve state guarantees worth up to 4.1 billion euros ($4.27 billion) to help Thyssenkrupp Marine Systems(TKMS) win an order from Argentina for three submarines, two sources in the budget committee told Reuters on Wednesday. Several media outlets have reported that a French shipbuilder is also been …

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Carmaker Stellantis buys full control of Punch Powertrain venture

29 Jan 2025

PARIS (Reuters) – Carmaker Stellantis, brands of which include Fiat, Peugeot and Vauxhall, said it had agreed to buy full control of its joint venture with Belgium’s Punch Powertrain, strengthening its position in hybrid vehicle technology. Its venture with Punch Powertrain had focused on production of dual-clutch transmissions (eDCT) for hybrid and plug-in electric vehicles. …

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No job cuts expected from potential MPS-Mediobanca deal – FABI union

29 Jan 2025

MILAN (Reuters) – Italian banking union FABI does not expect redundancies from a potential deal between Banca Monte dei Paschi (MPS) and Mediobanca, its head Lando Maria Sileoni said on Wednesday. Last week, MPS joined the consolidation wave sweeping Italian banking with a 13.3 billion euro ($13.96 billion) all-share offer to buy Mediobanca, which was …

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Syrian finance minister discusses finances, sanctions with EU officials in Damascus

29 Jan 2025

By Timour Azhari DAMASCUS (Reuters) -Syrian Finance Minister Mohammed Abazeed discussed his country’s financial position and potential sanctions relief in his first meeting with European Union officials on Wednesday since Islamist rebels ousted the Assad regime last year. Abazeed met with Germany’s temporary envoy to Syria Bjorn Gehrmann and EU representative Michael Ohnmacht in Damascus …

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Italy business and consumer morale pick up in January

29 Jan 2025

ROME (Reuters) – Morale among Italian businesses and consumers improved unexpectedly in January, data showed on Wednesday, brightening prospects for the euro zone’s third largest economy which has stalled in recent months. National statistics institute ISTAT’s composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, came in at 95.7, compared …

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Dulux paints maker AkzoNobel sees no significant market rebound in 2025

29 Jan 2025

By Dimitri Rhodes and Anna Peverieri (Reuters) – Dulux paints maker AkzoNobel forecast a slightly smaller-than-expected rise in 2025 core earnings on Wednesday, and said it does not see a significant market rebound this year. The Dutch maker of paints and coatings sees its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to surpass …

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SEB net profit and dividend lag forecast, shares fall

29 Jan 2025

By Niklas Pollard STOCKHOLM (Reuters) -Swedish bank SEB narrowly missed fourth-quarter net profit expectations on Wednesday and proposed a lower-than-expected total dividend for the year, sending its shares down 4%. Net profit at the bank, which is more focused on corporate clients than some of its domestic peers, fell almost 11% to 7.49 billion crowns …

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