By Ron Bousso LONDON (Reuters) -BP on Tuesday reported a 30% drop in third-quarter profit to $2.3 billion, the lowest in almost four years, weighed down by weaker refining margins and oil trading results. The decline was smaller than expected amid a slowdown in global economic activity and oil demand, particularly in China, but raises …
BP profit slumps to near four-year low as oil demand sags Read More »
By Shubham Batra and Nikhil Sharma (Reuters) -The UK’s benchmark FTSE 100 fell on Tuesday due to broader declines led by the energy sector on losses in BP, while investors kept their focus on the upcoming budget later this week. The blue-chip FTSE 100 fell 0.8%, as of 1621 GMT, while the midcap FTSE 250 …
London stocks down as energy shares slide; UK budget in focus Read More »
By Suban Abdulla and Andy Bruce LONDON (Reuters) – Budget plans of British finance minister Rachel Reeves are likely to push UK government bond issuance towards 300 billion pounds ($389 billion) this fiscal year, a roughly 6% increase on the existing target, a Reuters poll of bond dealers showed on Tuesday. Reeves will seek to …
UK budget to push gilt issuance towards 300 billion pounds, dealers say: Reuters poll Read More »
By Linda Pasquini and Helen Reid (Reuters) – Adidas saw strong growth in Greater China in the third quarter, while sales in North America excluding Yeezy shoes were up thanks to improving brand image, the company said on Tuesday. The German sportswear brand’s performance in China contrasts with rival companies that are struggling with weak …
Adidas sees strong sales in China as it opens more stores Read More »
MOSCOW (Reuters) – Russian energy giant Gazprom said on Tuesday it has increased its 2024 investment programme by around 4% to 1.64 trillion roubles ($16.85 billion) from 1.57 trillion roubles approved last December. Gazprom said both key gas exports and domestic supplies have been rising, allowing the company to boost estimates for sales proceeds by …
Gazprom increases 2024 investment programme by 4% to $16.9 billion Read More »
By Ron Bousso LONDON – BP spun off part of the U.S. operations of its Lightsource BP solar joint venture shortly before completing the acquisition of the outstanding 50% stake in the business last week, the British company said on Tuesday. “Immediately prior to the business combination, 2.4GW (gigawatts) of Lightsource BP’s operational and construction …
BP says spun off part of US operations of solar joint venture Lightsource BP Read More »
By Amy-Jo Crowley LONDON (Reuters) – RTL Group, Europe’s largest broadcaster, is exploring options for its Fremantle production unit, including a merger, given a broader cutback in TV commissioning across the industry, two people familiar with the matter told Reuters. RTL, majority-owned by German media group Bertelsmann, is considering finding a merger partner for the …
RTL Group explores options for TV production arm Fremantle, sources say Read More »
MOSCOW (Reuters) -Kremlin-owned gas giant Gazprom said on Tuesday its nine-month loss under Russian accounting standards, which do not include subsidiaries, was 309 billion roubles ($3.2 billion) compared to a profit of 446 billion roubles in the same period of 2023. It did not explain the reason behind the losses. For 2023, Gazprom group, which …
MADRID (Reuters) – Santander will have cut more than 1,400 jobs from its British business by the time it completes an ongoing cost-cutting round, the Spanish bank’s CEO Hector Grisi said on Tuesday. Grisi did not give an exact timeline of when the previously announced round of lay-offs had been carried out, but said “1,425 …
Santander CEO says more than 1,400 UK bank jobs being cut Read More »
(Reuters) -British semiconductor wafer maker IQE said on Tuesday its CEO Americo Lemos had left the company with immediate effect and finance chief Jutta Meier would take charge in the interim. Shares in the company, whose ‘epi-wafers’ are used in the Apple iPhone’s facial recognition sensors, fell as much as 15% on the news. Lemos …
Apple supplier IQE’s CEO departs, finance chief takes interim charge Read More »
