Reuters UK Business

By Pritam Biswas (Reuters) – Coinbase Global posted a third-quarter profit on Wednesday, helped by strong trading volumes at the exchange as cryptocurrency increasingly becomes a part of the mainstream investment industry following a string of regulatory clearances. Crypto markets have been volatile this year, with some of the key assets gaining after the U.S. …

Coinbase posts third-quarter profit on trading strength Read More »

(Reuters) – Starbucks on Wednesday reported a 7% drop in global comparable sales for the fourth quarter as the coffee chain struggles to revive demand for its pricey lattes in the key U.S. and China markets. Last week, Starbucks reported preliminary fourth-quarter results and suspended its annual forecast through the next fiscal year as new …

Starbucks CEO vows to overhaul its cafes and simplify its menu Read More »

(Reuters) – France’s AXA, Europe’s second-biggest insurer, posted on Wednesday a 7% increase in sales for the first nine months, in line with expectations, with improved customer retention and market share in some segments. AXA said it is confident of achieving underlying earnings per share growth in 2024 in line with its 6%-8% annual growth …

AXA’s nine-month revenue up 7%, on track to meet annual target Read More »

By Christina Amann and Andrey Sychev WOLFSBURG, Germany (Reuters) -Volkswagen asked its workers to take a 10% pay cut on Wednesday, arguing it was the only way that Europe’s biggest carmaker could save jobs and remain competitive as profits plunged to a three-year low and union bosses threatened strikes. It was the first official confirmation …

VW demands 10% wage cuts to save jobs as profits plunge Read More »

By Iain Withers and Tommy Reggiori Wilkes LONDON (Reuters) -Britain will increase tax on the performance fees that private equity fund managers make from asset sales to 32% from a current 28%, a smaller rise than many buyout bosses had feared. UK finance minister Rachel Reeves said in her budget announcement on Wednesday that her …

UK hikes taxes on private equity, further reforms loom Read More »

By Tim Hepher PARIS (Reuters) -Europe’s Airbus kickstarted a surprise leadership transition in its biggest business on Wednesday, with the chief of German engine-maker MTU Aero Engines tapped to replace Christian Scherer as head of planemaking from 2026. It is the second time in just over a year that the world’s largest planemaker has announced …

Airbus picks successor for jetmaking arm, CEO stays on Read More »

By Ananya Mariam Rajesh (Reuters) -DoorDash forecast fourth-quarter core profit above estimates on Wednesday, as the online delivery firm bets on more consumers using the platform to order groceries to beauty products during the holiday period. The company also posted a profit for the first time since going public in late 2020 and beat quarterly …

DoorDash forecasts strong fourth quarter, bets on demand for online delivery Read More »

(Reuters) – BHP said that comments made by its chairman at Wednesday’s annual general meeting did not mean the company rules out a renewed offer for Anglo American, months after its failed bid in May. Chairman Ken MacKenzie said earlier in the day that the company has “moved on” to focus on growth opportunities. The …

BHP leaves a new offer for British copper miner Anglo on the table Read More »