Reuters UK Business

Italy’s Eni sees 2.5-billion-euro net proceeds from disposals in 2025

25 Oct 2024

By Francesca Landini MILAN (Reuters) – Italian energy group Eni expects 2.5 billion euros ($2.7 billion) in net proceeds from additional disposals that will be completed next year, Chief Transition & Financial Officer Francesco Gattei said on Friday. The group announced on Thursday that U.S. investment group KKR would buy 25% of its biofuel unit …

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Auchan in final talks with local buyer for Russian-market exit, Le Monde reports

25 Oct 2024

By Anna Peverieri (Reuters) – French supermarket retailer Auchan is in final stages of negotiations to sell its Russian business to Gazprombank, Le Monde reported on Friday, citing no sources. WHY IT’S IMPORTANT Auchan, which has about 30,000 staff, 230 stores and an online business in Russia, has been one of the largest Western companies …

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Barclays wins bid to slash UK investors’ $727 million ‘dark pool’ lawsuit

25 Oct 2024

LONDON (Reuters) – Barclays on Friday won its bid to more than halve a shareholders’ lawsuit worth up to 560 million pounds ($727 million) at London’s High Court for allegedly misleading the market about its private “dark pool” trading platforms. A judge ruled that investors who only relied on Barclays share value or listed status …

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HelloFresh raises 2024 core-profit outlook on marketing strategy shift

25 Oct 2024

By Isabel Demetz and Tristan Veyet (Reuters) -German meal-kit company HelloFresh raised the lower end of its guidance on adjusted core profit but cut its full-year revenue-growth outlook, as it expects bigger returns due to more focused marketing, despite a weaker fourth quarter. It expects revenue growth on a constant-currency basis between 1% and 1.7%, …

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Auto dealer groups to challenge Scout Motors’ decision to sell directly to US consumers

25 Oct 2024

By David Shepardson (Reuters) -Groups representing U.S. auto dealers said on Friday they plan to challenge a decision by Volkswagen’s Scout Motors to sell directly to consumers, bypassing independent retailers. The National Automobile Dealers Association said it and state associations “will challenge this and all attempts to sell direct in courthouses and statehouses across the …

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Close Brothers and Lloyds shares slide after UK motor finance ruling

25 Oct 2024

LONDON (Reuters) – Shares in Close Brothers Group slumped on Friday after a London court ruled that motor finance brokers must fully inform customers about commissions when taking out car loans, a judgment that also pulled Lloyds shares down sharply. The Court of Appeal’s ruling, allowing three linked appeals brought by consumers, comes as Britain’s …

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Germany’s FDP to host its own economic summit on same day as Scholz

25 Oct 2024

BERLIN (Reuters) -German Finance Minister Christian Lindner’s Free Democrats (FDP) are organising their own economic summit next Tuesday, the same day Chancellor Olaf Scholz has invited business groups to the chancellery to discuss how to fight the weak economic outlook. The summit marks the latest attempt by a partner in the loveless coalition government to …

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Russia’s Putin authorises sale of Fraport’s 25% stake in St Petersburg airport

25 Oct 2024

(Reuters) – Russian President Vladimir Putin has authorised the transfer of German airport operator Fraport’s 25% stake in St Petersburg’s Pulkovo Airport to an unidentified party, a decree published on Friday showed. A Fraport spokesperson said the approval was an “important, intermediate step”, but cautioned that a successful transaction would depend on additional conditions and …

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Stellantis to start making new Lancia Gamma at Italy’s Melfi plant in 2026

25 Oct 2024

MILAN – Stellantis said on Friday it would start production of a new Lancia Gamma mid-sized car in 2026 at its Melfi plant in southern Italy, as the Franco-Italian automaker hopes new models will help it relaunch its output in the country. Stellantis, whose other brands include Fiat and Alfa Romeo, has fallen under heavy …

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German defence minister seeks to develop advanced Taurus missiles, source says

25 Oct 2024

BERLIN (Reuters) -German Defence Minister Boris Pistorius aims to develop an advanced version of the Taurus cruise missile and buy 600 of them, a parliamentary source told Reuters on Friday, as Ukraine presses Berlin to supply it with the long-range weapons. So far, German forces have some 600 of the missiles with a range of …

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