Reuters UK Business

Hargreaves Lansdown expects takeover by CVC-led consortium to complete in Q1 2025

29 Oct 2024

(Reuters) – Hargreaves Lansdown, Britain’s largest investment platform, said on Tuesday it expects the completion of its agreed 5.4 billion pound ($7 billion) takeover by an international consortium in the first quarter of 2025. The consortium, consisting of Europe’s largest private equity firm CVC Capital Partners, Abu Dhabi’s sovereign wealth fund and Swedish private equity …

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Swedish economy in recession, preliminary data shows

29 Oct 2024

STOCKHOLM (Reuters) – Sweden’s economy entered a technical recession in the third quarter as gross domestic product fell 0.1% compared with the previous quarter, preliminary figures from the statistics office showed on Tuesday. Swedish GDP also declined in the second quarter. An economy is considered to be in recession when the economy has contracted for …

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Covestro likely to recommend ADNOC takeover offer, trims 2024 profit target again

29 Oct 2024

By Bartosz Dabrowski and Patricia Weiss (Reuters) -Covestro said on Tuesday its management board is likely to recommend Abu Dhabi National Oil Company’s (ADNOC) $16.3 billion takeover offer to shareholders in the next few weeks, as the German chemicals maker also cut its 2024 profit target again. ADNOC said early this month it had struck …

Covestro likely to recommend ADNOC takeover offer, trims 2024 profit target again Read More »

Sterling steady ahead of UK budget, set for first monthly fall since Sept 2023

29 Oct 2024

By Amanda Cooper LONDON (Reuters) – The pound held steady on Tuesday, while sterling options rose to their highest since the start of the month, reflecting a modest degree of nervousness among traders a day before UK finance minister Rachel Reeves presents the new budget. Overnight implied options volatility, a measure of demand for protection …

Sterling steady ahead of UK budget, set for first monthly fall since Sept 2023 Read More »

Danish EV charger software firm Monta expands into US market

29 Oct 2024

By Nick Carey LONDON (Reuters) – Denmark’s Monta, which develops software solutions for the electric vehicle charging industry, has expanded into the U.S. market and aims to have one million charging points connected to its platform within five years, the company said on Tuesday. “We’ve been looking for a while at the U.S. market, which …

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Chemicals maker Clariant cuts FY sales target, misses Q3 core profit view

29 Oct 2024

By Ozan Ergenay (Reuters) -Swiss specialty chemicals maker Clariant cut its 2024 sales target on Tuesday and reported third-quarter core profit below expectations, weighed down by lower volumes in its catalysts business and restructuring charges. The group’s earnings before interest, taxes, depreciation and amortisation fell 13% year-on-year to 139 million Swiss francs ($160.69 million) in …

Chemicals maker Clariant cuts FY sales target, misses Q3 core profit view Read More »

Serica Energy cuts full-year production forecast after North Sea vessel outage

29 Oct 2024

(Reuters) – UK’s Serica Energy said on Tuesday it expects full-year production to be slightly below its previous forecast due an outage at its Triton floating production storage and offloading (FPSO) vessel in the North Sea. The FPSO has a problem with the single gas and the operator, Dana Petroleum, is working on the necessary …

Serica Energy cuts full-year production forecast after North Sea vessel outage Read More »

Germany needs reform and investment to overcome recession, says IMF Europe head

29 Oct 2024

BERLIN (Reuters) – Germany needs both structural reforms and more investment in public infrastructure to overcome recession, the European head of the International Monetary Fund said in an interview with Sueddeutsche Zeitung. “Without a functioning infrastructure, there can be no productive economy,” Alred Kammer told the paper in an interview published on Tuesday. In order …

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