Reuters UK Business Archives - Page 1779 of 3179

BHP says claim it put profit over safety ‘unjustified’ in Brazilian dam collapse case

23 Oct 2024 23 Oct 2024

By Sam Tobin LONDON (Reuters) – BHP said on Wednesday that allegations a pursuit of profit over safety contributed to Brazil’s worst environmental disaster were “far-fetched and unjustified”, as the miner opened its defence to a mammoth lawsuit at London’s High Court. More than 600,000 Brazilians, 46 local governments and around 2,000 businesses are suing …

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French bond investors brace for Moody’s rating review

23 Oct 2024 23 Oct 2024

By Stefano Rebaudo (Reuters) – Rating agency Moody’s will review France’s sovereign rating on Friday in what could be the next test of sentiment for bond investors. Moody’s rates France at Aa2 and the market has already priced in the risk of a downgrade given concerns about the country’s finances. WHY IT’S IMPORTANT Rating agency …

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Romanian government to approve railroad funding for Black Sea port of Constanta

23 Oct 2024 23 Oct 2024

BUCHAREST (Reuters) – Romania’s government will approve on Wednesday a plan to upgrade rail infrastructure in the Black Sea port of Constanta to create a second railroad access point, part of wider investments in the port triggered by Russia’s war in Ukraine. European Union and NATO member Romania has become Ukraine’s biggest alternative grain export route since Russia’s full-scale invasion …

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Euro zone consumer confidence rises to -12.5 in October

23 Oct 2024 23 Oct 2024

(Reuters) – Euro zone consumer confidence rose by 0.4 points in October from the September number, figures released on Wednesday showed. The European Commission said a flash estimate showed euro zone consumer morale improved to -12.5 this month from -12.9 in September. Economists polled by Reuters had expected a rise to -12.5. In the European …

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World Bank says will double agricultural commitments to $9 billion a year by 2030

23 Oct 2024 23 Oct 2024

WASHINGTON (Reuters) – The World Bank will double its commitment for investments in agricultural financing and businesses to $9 billion a year by 2030, the lender’s president announced on Wednesday. “We’ve examined the challenges from every angle — how to increase food production, boost productivity, and resolve issues around water scarcity, fertilizers, infrastructure, and financing,” …

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Norway’s Statkraft to sell assets in three countries, CEO says

23 Oct 2024 23 Oct 2024

By Nora Buli OSLO (Reuters) – Norwegian state-owned utility Statkraft, Europe’s largest renewable energy producer, will sell energy production assets in India, Croatia and the Netherlands to focus the group’s investments on fewer markets, its CEO said on Wednesday. The plan follows a strategy announcement in June, when Statkraft cut its growth targets for solar, …

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Italy to raise more than 5 billion euros over next three years from banks, insurers

23 Oct 2024 23 Oct 2024

By Giuseppe Fonte and Valentina Za ROME (Reuters) -Italy expects to raise about 5.4 billion euros ($5.82 billion) over the next three years from banks and insurers through a package of measures envisaged in Rome’s 2025 budget, a government document seen by Reuters showed on Wednesday. The Treasury had previously said that the financial sector …

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Ad group WPP returns to growth in third quarter, boosting shares

23 Oct 2024 23 Oct 2024

By Paul Sandle LONDON (Reuters) -British ad group WPP returned to growth with a better-than-expected 0.5% rise in organic revenue in the third quarter, during which it won business from Amazon, Unilever and Henkel. The market had expected a 0.2% decline and the beat sent WPP’s shares up by as much as 5% to a …

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Dulux maker AkzoNobel considers further plant closures

23 Oct 2024 23 Oct 2024

(Reuters) – Dulux paint maker AkzoNobel is considering additional plant closures and expects to carry out most of its previously announced staff reductions in the first quarter of 2025, its management told Reuters on Wednesday. WHY IT’S IMPORTANT AkzoNobel, which has been battling a post-COVID slowdown, rising raw material costs and customer destocking, last May …

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AkzoNobel misses Q3 forecasts as China’s real estate slowdown drags paint sales

23 Oct 2024 23 Oct 2024

By Anna Peverieri and Dimitri Rhodes (Reuters) -Dulux paints maker AkzoNobel missed expectations for third-quarter revenue and earnings on Wednesday, as China’s weak real estate market weighs on the sales of its decorative paints. Shares in the Dutch paints-and-coatings maker were down 4.6% at 1219 GMT. They have fallen nearly 20% so far this year …

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