Reuters UK Business Archives - Page 1781 of 3179

EU fines Austrian and Czech railway companies for blocking rival

23 Oct 2024 23 Oct 2024

(Reuters) – The European Commission has fined Austrian rail company Osterreichische Bundesbahnen (OBB) and Czech peer Ceske drahy (CD) a total of 48.7 million euros ($52.5 million) for blocking a Czech rival’s market expansion, it said on Wednesday. The commission said both companies had restricted competition by colluding to prevent a new entrant, RegioJet, from …

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Analysis-Potash supply nears pre-war levels, pushing producers to cut output

23 Oct 2024 23 Oct 2024

By Tristan Veyet, Jesus Calero and Luca Fratangelo (Reuters) – Global potash supply is returning to levels seen before the invasion of Ukraine, as Russia and Belarus sidestep Western sanctions by increasing shipments to Asia and South America, pressuring producers to cut output and avoid oversupply. Potash production is expected to reach 73 million metric …

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Finance bosses eye fresh UK return to office push, KPMG says

23 Oct 2024 23 Oct 2024

By Sinead Cruise LONDON (Reuters) – More than three quarters of Britain’s financial sector bosses plan to push workers to spend more time in the office over the next 12 months, according to a survey of 150 industry leaders by KPMG UK. The findings shared exclusively with Reuters also showed more than a third of …

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Global regulators quiz banks amid climate-risk tussle, sources say

23 Oct 2024 23 Oct 2024

By Isla Binnie NEW YORK (Reuters) – Global banking regulators have asked lenders detailed questions about how they manage climate risks, three people familiar with the matter said, in the latest sign that authorities are trying to find broad consensus amid conflicting approaches to the topic. In a survey that banks filled out over the …

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L’Oreal shares slide after China dents quarterly sales

23 Oct 2024 23 Oct 2024

By Dominique Patton PARIS (Reuters) – L’Oreal’s shares on Wednesday extended a deep sell-off after the cosmetics giant reported quarterly sales below expectations, citing reduced beauty products demand in China and slower growth for its dermatological division. Shares were down 3.7% at 0844 GMT, hovering around their lowest levels since January 2023. They have plunged …

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UK’s CMA launches formal probe into Carlsberg-Britvic deal

23 Oct 2024 23 Oct 2024

(Reuters) -Britain’s Competition and Markets Authority(CMA) launched a formal investigation into Carlsberg’s 3.3 billion pounds ($4.28 billion) deal with Britvic, the regulator said on Wednesday. Carlsberg struck a deal to acquire the British soft drinks maker in July aiming to establish a UK beverage “powerhouse”. The deal includes the Danish brewer taking over Britvic’s bottling …

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Deutsche Bank flags credit risks as returns to profit in third quarter

23 Oct 2024 23 Oct 2024

By Tom Sims, Matthias Inverardi and Emma-Victoria Farr FRANKFURT (Reuters) – Deutsche Bank has raised its forecast for bad loans against the backdrop of a weak German economy, as the bank returned to profit in the third quarter, boosted by investment banking and a cut in reserves for Postbank lawsuits. This marked the second time …

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SEFE secures long-term gas supply deal with ConocoPhillips for up to 9 bcm

23 Oct 2024 23 Oct 2024

BERLIN (Reuters) – German nationalised energy firm SEFE on Wednesday said it signed a long-term agreement with ConocoPhillips to purchase up to 9 billion cubic meters (bcm) of natural gas over the next decade. Initial deliveries under the deal have already started, with gas supplied through various European trading hubs. ConocoPhillips, which sources gas from …

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German court rejects Rosneft’s challenge to Shell’s refinery stake sale

23 Oct 2024 23 Oct 2024

By Riham Alkousaa BERLIN (Reuters) -A German court on Wednesday dismissed a complaint by Russian oil firm Rosneft against Shell’s planned sale of a stake in Germany’s Schwedt refinery, a spokesperson for the court said. In the complaint, filed with the higher regional court in Duesseldorf, Rosneft challenged Shell’s plans to sell its 37.5% stake …

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Sterling dips on dollar, eyes on Governor Bailey’s speech

23 Oct 2024 23 Oct 2024

LONDON (Reuters) – The pound dipped a touch on the dollar and held steady on the euro on Wednesday, as traders awaited remarks by Bank of England Governor Andrew Bailey that could affect expectations of the central bank’s rate cut path. Sterling was last down 0.14% at $1.2967, just above the previous day’s intraday low …

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