Reuters UK Business Archives - Page 1589 of 3179

Saudi Arabia was top buyer of Russian fuel oil and VGO in November, LSEG data shows

23 Dec 2024 23 Dec 2024

MOSCOW (Reuters) – Saudi Arabia was the top destination for Russian sea-borne fuel oil and vacuum gasoil (VGO) exports in November, according to traders and LSEG data. Total fuel oil and VGO exports from Russian ports last month rose by 6% from October to about 4.26 million metric tons, according to Reuters calculations based on …

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Elon Musk’s X lifts price for premium-plus tier to pay creators

23 Dec 2024 23 Dec 2024

(Reuters) – Elon Musk-owned X raised the price of its premium-plus plan in several markets from Dec. 21 as the social media company looks to boost payment for creators on its platform. The top-tier plan is now priced at $22 a month in the U.S., up from $16 earlier, according to a blog post. Prices …

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Prosus to buy Latin American online travel agency Despegar.com for $1.7 billion

23 Dec 2024 23 Dec 2024

(Reuters) -Dutch technology investor Prosus NV said on Monday it would buy Latin America-focused online travel agency Despegar.com Corp for about $1.7 billion in cash, as it looks to expand its services across Latin America. Prosus, majority-owned by South Africa’s Naspers, said it would pay $19.50 per Despegar share, which is a premium of about …

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Factbox-Europe’s embattled auto sector plans plant closures and layoffs

23 Dec 2024 23 Dec 2024

(Reuters) -Automotive companies across Europe have announced plant closures and big layoffs as they struggle with weak demand, high costs, competition from China and a slower-than-expected transition to electric vehicles. Below are layoffs and site closures announced in recent months, beginning with the latest: VOLKSWAGEN Europe’s top carmaker Volkswagen agreed a deal with unions on …

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Sterling struggles to regain steam against dollar

23 Dec 2024 23 Dec 2024

By Greta Rosen Fondahn (Reuters) – Sterling looked lacklustre against the dollar on Monday as a survey reported a decline in domestic UK business confidence and traders digested a recent Federal Reserve-induced rally in the greenback. British business confidence fell to its lowest level of 2024 in December, although employers were a bit more optimistic …

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Italian watchdog investigates Telecom Italia contract with former network arm

23 Dec 2024 23 Dec 2024

MILAN (Reuters) -Italy’s antitrust watchdog has opened an investigation into the business relationship between Telecom Italia (TIM) and FiberCop, the fixed-line network company spun-off from the former phone monopoly. After the 22 billion euro ($22.90 billion) sale of FiberCop to a consortium led by U.S. investment fund KKR last July, TIM signed a 15-year master …

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Portugal’s budget surplus narrows slightly to 1% of GDP

23 Dec 2024 23 Dec 2024

LISBON (Reuters) – Portugal posted a budget surplus of 1% of gross domestic product in the 12 months ended in September, down from a surplus of 1.2% a year earlier, the National Statistics Institute said on Monday. In its quarterly update of public accounts data, the INE said public spending rose 2.1%, outpacing revenue growth …

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Equinor raises Orsted stake to 10%, as planned

23 Dec 2024 23 Dec 2024

OSLO (Reuters) – Equinor said on Monday it has bought an additional stake of 0.2% in Danish energy group Orsted, raising its ownership to 10%, in line with the Norwegian group’s previously stated intention. Equinor first announced its purchase of a 9.8% stake in the Danish offshore wind farm developer in October this year. “Following …

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Plan to throttle foreign fossil fuel finance collapses at OECD, Bloomberg reports

23 Dec 2024 23 Dec 2024

(Reuters) – A plan discussed by wealthy nations to throttle tens of billions of dollars in public support for oil and gas projects has broken down without agreement, Bloomberg News reported on Monday. The European Union, UK, the United States and other countries had sought the deal to limit export-credit agency finance for global fossil-fuel …

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BNP Paribas signs €5.1bn share purchase agreement for Axa IM

23 Dec 2024 23 Dec 2024

BNP Paribas has formally signed the previously announced €5.1bn ($5.3bn) share purchase agreement for Axa Investment Managers. Axa and BNP Paribas Cardif entered into exclusive negotiations in August to offload Axa’s asset management division. The signing of the share purchase agreement follows the completion of the information-consultation procedure on strategic issues with the relevant employee …

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