Reuters UK Business Archives - Page 1516 of 3179

EU to test how banks would cope with geopolitical shocks, trade wars

20 Jan 2025 20 Jan 2025

MILAN (Reuters) – The European Banking Authority said on Monday it would assess how European banks would react to a hypothetical spiralling of geopolitical tensions and ensuing trade wars in an upcoming health check of the industry. The simulation, which assumes a dramatic blow to the European economy from geopolitical and trade shocks, kicks off …

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Market pricing of up to four ECB rate cuts this year is reasonable, Vujcic says

20 Jan 2025 20 Jan 2025

FRANKFURT (Reuters) – Market expectations for European Central Bank interest rate cuts are reasonable and risks around the inflation outlook are broadly balanced, Croatian central bank chief Boris Vujcic said on Monday. Investors expected as many as five rate cuts from the ECB this year but dialled back those bets since the turn of the …

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Lanxess gets profit boost as US customers stock up ahead of Trump presidency

20 Jan 2025 20 Jan 2025

By Ozan Ergenay (Reuters) – German specialty chemicals maker Lanxess said on Monday it expected its fourth-quarter core profit to exceed market expectations by more than 20%, largely due to pre-buying by U.S. customers ahead of Donald Trump’s inauguration given the threat of potential tariffs. The company expects its earnings before interest, taxes, depreciation and …

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EU to approve updated French deficit-cutting plan on Tuesday

20 Jan 2025 20 Jan 2025

BRUSSELS (Reuters) -European Union finance ministers will approve French Prime Minister Francois Bayrou’s deficit-cutting plan on Tuesday as it complies with the EU’s recommendations to bring the French deficit below 3% of GDP by 2029, officials said. Senior officials of EU governments agreed last week to support Bayrou’s plan, which will replace a more front-loaded …

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Exclusive-Kretinsky’s EPH among those approached to buy Germany’s Uniper, sources say

20 Jan 2025 20 Jan 2025

By Christoph Steitz, Emma-Victoria Farr and Jan Lopatka FRANKFURT/PRAGUE (Reuters) -Czech billionaire Daniel Kretinsky is among potential suitors approached by Berlin about buying German state-owned utility Uniper, three people familiar with the matter said. Sources have said previously that others approached include New York-headquartered fund Brookfield, Norway’s Equinor and Abu Dhabi’s TAQA. Czech energy holding …

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Instant View: Dollar tumbles as Trump team signals no immediate tariffs

20 Jan 2025 20 Jan 2025

LONDON (Reuters) – The dollar tumbled broadly on Monday after an official for incoming U.S. administration said President-elect Donald Trump would not impose new trade tariffs on his first day in office, alleviating some fears of an immediate blitz. Trump, who takes office later in the day, has previously pledged tariffs of 10% on global …

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Spain’s PM Sanchez floats ban on non-EU citizens buying properties

20 Jan 2025 20 Jan 2025

MADRID (Reuters) – Spanish Prime Minister Pedro Sanchez said he would propose to ban purchasers from outside the European Union from buying properties, as the government seeks to curb rising housing prices, which have become an increasing source of friction. “We will propose to ban these non-EU foreigners who are not residents, and their relatives, …

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Chevron expresses interest in Greek energy exploration

20 Jan 2025 20 Jan 2025

ATHENS (Reuters) -Chevron is interested in energy exploration in Greece, the U.S. oil producer and the country’s energy ministry said on Monday. Chevron has submitted a non-binding expression of interest for one open block to Greece’s Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA), the company confirmed. The government welcomed Chevron’s expression of interest. A …

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Central banks’ green push hits a hurdle as Fed drops out

20 Jan 2025 20 Jan 2025

By Francesco Canepa and Virginia Furness FRANKFURT (Reuters) – A global effort by central banks to join the fight against climate change has hit a major hurdle with the U.S. Federal Reserve’s decision to leave a club devoted to policing environmental risk in finance. The Fed said on Friday it would quit the Network for …

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Glencore open to deals as investors brace for more mining M&A

20 Jan 2025 20 Jan 2025

By Clara Denina and Pratima Desai LONDON (Reuters) – Miner and commodity trader Glencore said it is open to M&A transactions that create value for its shareholders, leveraging its position as a top three global copper producer. “As we have always said, M&A is something we are good at and we are always open to …

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