Reuters UK Business

Volkswagen, unions must find new solutions for German plants, company says

9 Dec 2024

WOLFSBURG, Germany (Reuters) – Volkswagen’s chief negotiator Arne Meiswinkel said on Monday that unions and management needed to find alternative pathways to a solution for its German plants after the company rejected a proposal put forward by unions as unsustainable. “We continue to need to reduce costs, reduce overcapacity,” Meiswinkel said, speaking ahead of the …

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Insurer ASR says it could invest in Dutch defence companies

9 Dec 2024

AMSTERDAM (Reuters) – Dutch insurer ASR said on Monday it would consider investing in Dutch defence companies, following a call from the government to provide capital for a stronger European defence industry. The second-largest insurer in the Netherlands normally excludes investments in defence companies under its policies for responsible investments. It said it would now …

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Swiss insurer Baloise nominates activist investor representative to board

9 Dec 2024

ZURICH (Reuters) -Baloise has nominated Robert Schuchna, a representative of activist shareholder Cevian Capital, to join its board of directors next year, the Swiss insurer said on Monday. Cevian, which in September became Baloise’s biggest investor with a 9.4% stake, has been putting pressure on Baloise to improve its performance, saying its current strategy is …

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Analysis-To Europe’s economic malaise, add a leadership void

9 Dec 2024

By Giselda Vagnoni, Christoph Steitz and Joanna Plucinska (Reuters) – France and Germany’s political crises are a setback for efforts to modernise Europe’s struggling economy and are already making it harder for companies to take the investment decisions they need to compete globally. Government collapses in Germany and France – the big two economies that …

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Global advertising forecast to rise 9.5% in 2024, GroupM says

9 Dec 2024

LONDON (Reuters) – Global advertising revenue will increase 9.5% in 2024 to surpass $1 trillion for the first time and grow 7.7% next year, according to GroupM, the world’s largest media buying agency, owned by WPP. WHY IT’S IMPORTANT The continued growth of advertising, driven by digital platforms, has defied expectations of a slowdown. It …

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Allianz, Amundi stop talks over combining asset management businesses, source says

8 Dec 2024

MUNICH (Reuters) – Allianz and Amundi have paused discussions about combining their asset management businesses into a European investment giant that would manage nearly 2.8 trillion euros ($3 trillion) in assets, a source close to Allianz said. Germany’s Allianz has been examining options for its Allianz Global Investors unit, including a possible merger or partial …

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UniCredit says ready to sit down with Credit Agricole over Banco BPM

8 Dec 2024

By Valentina Za MILAN (Reuters) -UniCredit is ready to sit down with Credit Agricole, a spokesperson for the Italian bank said in a LinkedIn post after the French lender increased its potential stake in Unicredit’s takeover target Banco BPM. UniCredit’s bid for its smaller peer prompted Credit Agricole to say on Friday it had entered …

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Volkswagen plant closures ‘not the right way’, Germany’s Scholz says

7 Dec 2024

FRANKFURT (Reuters) – Factory shutdowns would be a wrong move by Volkswagen, German Chancellor Olaf Scholz said, adding that Europe’s largest carmaker had a responsibility to its employees. Volkswagen is in a bitter dispute with staff over pay cuts and possible plant closures aimed at countering high costs in Germany and massively cheaper Asian rivals …

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Exclusive-Italy informally backed Credit Agricole’s higher BPM stake, sources say

7 Dec 2024

By Giuseppe Fonte and Valentina Za ROME (Reuters) – France’s Credit Agricole had informal backing from the Italian government before it said on Friday it was raising its stake in Banco BPM, two sources close to the matter told Reuters. The increase intensifies a banking battle in Italy, begun when UniCredit last month made a …

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