Reuters UK Business

GENEVA -Switzerland’s President and Finance Minister Karin Keller-Sutter forecast higher annual budget deficits of around 3 billion Swiss Francs ($3.31 billion) in the next few years due to higher military spending and pension costs, she told Swiss newspapers in an interview. Switzerland has historically had balanced budgets although began reporting larger deficits from 2020 due …

Swiss president forecasts deficits of 3 billion francs in coming years Read More »

MILAN (Reuters) – Mediobanca’s board will meet on Tuesday to discuss a bid for the Italian merchant bank by state-backed Monte dei Paschi di Siena (MPS), a person close to the situation said. On Friday, MPS joined the consolidation wave sweeping Italian banking with a 13.3 billion euro ($13.96 billion) all-share offer to buy Mediobanca, …

Mediobanca board to review MPS 13.3 billion euro bid on Tuesday, source says Read More »

PARIS (Reuters) – French shipping and logistics group CMA CGM will continue to avoid the Red Sea even though it considers the region is more stable following the ceasefire agreement between Israel and Hamas, it said on Saturday. Shipping executives remain cautious about a return to the Red Sea, where Iran-backed Houthis have carried out …

French shipping giant CMA CGM to keep avoiding Red Sea Read More »

LONDON (Reuters) -British retailer WH Smith is exploring potential strategic options for its UK high street business, including a sale, it said on Saturday after media reports. The company was holding “secret talks” about the sale of its entire high street arm, which has more than 500 stores, Sky News first reported on Saturday. Responding …

UK’s WH Smith says it is exploring potential sale of high street arm Read More »

By Abhirup Roy PALO ALTO, California (Reuters) -A joint venture between U.S. electric pickup and SUV maker Rivian and Volkswagen is in talks with other automakers about supplying their software and electrical architecture, a senior Rivian executive said on Thursday. The German automaker agreed in November to invest $5.8 billion in the joint venture, which …

Rivian says other automakers ‘knocking on door’ about tech from VW joint venture Read More »

ROME (Reuters) -Italy’s government gave its backing on Friday to Banca Monte dei Paschi’s (MPS) bid for merchant bank Mediobanca, as the proposed deal may strengthen the country’s banking system and its broader economy. Economy Minister Giancarlo Giorgetti, a member of the right-wing League party, said the move by the bailed-out Tuscan lender was “totally …

Italy government backs Monte Paschi’s bid for Mediobanca Read More »

By Siddharth Cavale (Reuters) – Target is ending its diversity, equity and inclusion program this year, the retailer said on Friday, the latest U.S. corporation to step away from such policies in the face of severe scrutiny from conservative groups. Over the last year, several major companies, including Walmart, Amazon, and Meta, have rolled back …

Target becomes latest company to backtrack on DEI initiatives Read More »