PRAGUE (Reuters) – Czech gunmaker Colt CZ Group posted a 41.2% rise in first-half revenue on Thursday as U.S. sales recovered and the group completed its acquisition of ammunition manufacturer Sellier & Bellot. Revenue climbed to 9.69 billion crowns ($425 million) while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 35.3% to …
Colt CZ Group posts H1 revenue jump, confirms 2024 outlook Read More »
FRANKFURT (Reuters) -Volkswagen and union IG Metall will start talks at the end of September over a new labour agreement for six of its German plants after a job security scheme was cancelled by the carmaker earlier this week. Europe’s top carmaker has clashed with workers over proposals to shut German factories for the first …
Volkswagen, IG Metall union to start talks about new labour deal a month early Read More »
By Pranav Kashyap (Reuters) -European shares climbed 1% on Thursday, buoyed by strong performances among technology stocks, while investors awaited a policy decision from the European Central Bank later in the day where a rate cut is almost a certainty. The pan-European STOXX 600 index was up 1% at 513.1 points, and set for the …
European shares rise 1% on tech boost; ECB meet in focus Read More »
By Emma-Victoria Farr, Lucy Raitano, John O’Donnell FRANKFURT/LONDON (Reuters) -It was late on Tuesday evening in Europe and investors’ suspicions were growing. The German government’s efforts to sell Commerzbank shares in a market placement, on the face of it, a simple task, were stalling. They had expected the deal to wrap up soon after JPMorgan …
How UniCredit swept up a stake in Commerzbank in bid to grow in Germany Read More »
By Tommy Reggiori Wilkes and Prinz Magtulis (Reuters) – UniCredit’s purchase of a stake in Commerzbank has fuelled speculation about further European banking consolidation, after this year’s hostile bid for Sabadell by Spain’s BBVA’s. Supervisors in Europe have long supported the idea of more tie-ups – both within and across countries – because fewer, stronger …
Hurdles to M&A in Europe’s fragmented banking sector Read More »
By John O’Donnell and Tom Sims FRANKFURT (Reuters) -Commerzbank’s management has discussed how to keep the German lender independent, exploring defence strategies to resist a potential bid from UniCredit, a person familiar with the discussions said on Wednesday. While Commerzbank will engage in discussions with UniCredit in line with its obligation to shareholders, the bank …
Commerzbank seeks to fend off potential UniCredit takeover, sources say Read More »
OSLO (Reuters) – Offshore drilling contractor Seadrill is looking to buy more assets or create a larger player by merging with peers, the company’s CEO said on Wednesday. Norwegian-born billionaire John Fredriksen lost the control of the company, once the world’s largest driller by market cap, to its creditors over two debt restructurings since 2014. …
Offshore driller Seadrill eyes asset acquisitions, M&A, CEO says Read More »
BERLIN (Reuters) -Danish logistics company DSV won the race to buy Schenker, the rail logistics arm of German state railway Deutsche Bahn, sources at the railway and at the German government said. The sources said a preliminary contract for the transaction, worth some 14 billion euros ($15.43 billion), would be signed in coming days. The …
Denmark’s DSV wins 14 billion-euro race for Deutsche Bahn’s Schenker, sources say Read More »
(Reuters) -RTX is open to pruning and pairing its existing businesses rather than pursuing “transformative” mergers and acquisitions, the aerospace giant’s CEO said on Wednesday. Speaking at a conference organized by Morgan Stanley, CEO Christopher Calio pointed to the second-quarter divestment of its Goodrich Hoist and Winch business as an example of the deals the …
RTX CEO does not see ‘transformative’ deals, open to pruning business Read More »
LONDON (Reuters) – Marine fuels supplier Peninsula has spun off its shipping operation into a separate entity named Hercules Tanker Management (HTM), a Peninsula press release said on Wednesday, seeking to expand in the tanker freight sector. Hercules will take over Peninsula’s vessel assets and operate as an independent ship owner, trading its vessels in …
Marine fuels supplier Peninsula splits off shipping operations Read More »
