By Ludwig Burger FRANKFURT (Reuters) -BASF is banking on regaining pricing power to speed up earnings growth in the second half after the German chemicals group’s adjusted profit edged 0.6% higher in the second quarter, with China playing a key role. BASF CEO Markus Kamieth, who took the helm in April, said much depended on …
BASF hopes pricing power will boost profit growth later in the year Read More »
By Huw Jones LONDON (Reuters) -Britain’s markets watchdog set out proposals on Friday to make it cheaper for companies that are already listed to raise more cash, part of a package of measures to boost London’s post-Brexit wholesale financial sector. Britain has already begun reforming its financial rules in a bid to compete better with …
Britain proposes cheaper secondary capital raising for listed firms Read More »
By Antonis Pothitos and Matteo Allievi (Reuters) – German chemical company Wacker Chemie expects full-year core profit in the upper half of a previously-forecast range from 600 million to 800 million euros, as orders pick up in the second quarter, the company said on Friday. Chief Executive Christian Hartel pointed to the first signs of …
Wacker Chemie sees 2024 core profit in upper guidance range as orders pick up Read More »
LONDON (Reuters) – British broadband and mobile operator Virgin Media O2 lost 118,400 mobile contract customers in the second quarter, reflecting weakness in the top-end of the market where innovation in new iPhones and competing devices has slowed. The company, jointly owned by Liberty Global and Telefonica, said it now had 15.9 million customers on …
UK’s Virgin Media O2 loses more than 100,000 mobile contract customers Read More »
By Dimitri Rhodes and Leo Marchandon (Reuters) – French IT group Capgemini forecast a surprise fall in annual revenue on Friday, citing a downturn in the automotive and aerospace sectors, sending its shares tumbling more than 9%. Shares of Capgemini fell 9.4% by 0728 GMT to hit the bottom of the CAC40 index, after the …
Capgemini forecasts surprise revenue fall on automotive, aerospace downturn Read More »
LONDON (Reuters) -Shares in Britain’s Jupiter Fund Management rallied on Friday after the company reported forecast-beating profit and early signs of investor appetite recovering for UK assets, despite reporting a jump in clients withdrawing funds. Investors have begun looking again at UK markets as a potential haven amid political turmoil elsewhere in the world, after …
Jupiter shares rally on improved profit, UK investor appetite Read More »
By Hyunjoo Jin and Akash Sriram (Reuters) -Tesla CEO Elon Musk said on Thursday he and the board of the electric vehicle company will discuss making a $5 billion investment in his artificial intelligence startup xAI, fueling concerns about a conflict of interest. Musk, the world’s richest person, launched xAI last year in a bid …
Musk to discuss $5 billion xAI investment with Tesla board Read More »
LONDON (Reuters) – Britain’s new finance minister Rachel Reeves is expected to reveal a 20 billion pound ($25.7 billion) shortfall in the public finances, potentially paving the way for tax rises in the next budget, the Guardian newspaper reported on Thursday. The figure is not final and could still change before Reeves sets out an …
By Nick Carey and Nora Eckert LONDON/DETROIT (Reuters) -Problems in the highly competitive U.S. car market including weak prices, high inventories and difficult logistics dented profits and hit shares of automakers including Ford Motor, Stellantis and Nissan on Thursday, as they scramble to find a fix. Global automakers are facing a weakening outlook for sales …
US market proves a headache for global carmakers Read More »
By Vera Eckert FRANKFURT (Reuters) – German utility EnBW this week pledged 1 billion euros ($1.08 billion) to build pipelines to carry clean hydrogen as part of a plan for a nationwide grid that will start commercial operations by 2032. Germany is betting on green hydrogen, produced through electrolysis driven by wind and solar power, …
Explainer-How Germany’s hydrogen economy could transform energy use Read More »
