Reuters UK Business

ZURICH (Reuters) -How much capital UBS needs to hold under new stability measures being considered by Swiss authorities will depend on the bank’s resolvability, Finance Minister Karin Keller-Sutter said on Thursday. Swiss financial market regulator FINMA defines resolvability as creating the conditions for restructuring a systemically important bank in a crisis, or allowing it to …

Resolvability key to UBS capital requirements, minister says Read More »

MILAN (Reuters) -Italian banking sector trade unions said on Thursday they had reached an agreement with the Milan stock exchange, part of Euronext, to keep employment levels unchanged over the next three years and pay staff a one-off bonus of 2,000 euros ($2,170). The agreement, which still needs to be ratified by workers, paves the …

Milan Bourse strikes deal with unions over jobs, one-off bonus Read More »

By Mike Stone HUNTSVILLE, Alabama (Reuters) – Investments by L3Harris Technologies into its Aerojet Rocketdyne rocket motor unit have helped improve facilities and processes after years of underinvestment and late deliveries to customers, an executive told Reuters. Aerojet was purchased by L3Harris 15 months ago and is one of only two large solid-fuel rocket motor …

L3Harris’ rocket motor unit investments boosting output Read More »

LISBON (Reuters) – Portugal’s parliament on Thursday approved the centre-right minority government’s 2025 budget bill on its first reading, forecasting a slight pick-up in growth and a small surplus despite tax cuts for young people and businesses, and wage hikes for some public sector workers. The budget must now pass a second and final vote …

Portugal 2025 budget bill passes first reading as Socialists abstain Read More »

By Andy Bruce and David Milliken LONDON (Reuters) -British government bond prices tumbled for a second day on Thursday as investors judged finance minister Rachel Reeves’ first budget would boost inflation and cause the Bank of England to cut interest rates more slowly. Reeves announced the biggest tax rises in three decades, saying she needed …

UK bonds slide after inflationary UK budget hurts BoE rate cut bets Read More »

By Valentina Za MILAN (Reuters) -Italy’s biggest bank Intesa Sanpaolo on Thursday promised to add a sizeable share buyback to dividend payments on its 2024 results, after it beat expectations with its third-quarter profit and upgraded its guidance for next year. A 10% yearly rise in net fees at Intesa, whose business is geared towards …

Italy’s Intesa eyes ‘substantial’ share buyback, ups 2025 profit goal Read More »

By Foo Yun Chee BRUSSELS (Reuters) -U.S. chipmaker Nvidia will have to seek EU antitrust clearance for its proposed acquisition of AI startup Run:ai because it threatens competition in the markets where the companies operate, the European Commission said on Thursday. The move by the EU antitrust enforcer may require Nvidia to offer concessions to …

Nvidia needs EU approval to buy AI startup Run:ai, regulators say Read More »