Reuters UK Business

UK’s Sabre Insurance moderates gross written premium growth outlook on claims inflation

22 Oct 2024

(Reuters) -British motor insurer Sabre Insurance on Tuesday said it expects growth in annual gross written premiums to moderate slightly, after reporting slower growth in the first nine months of the year, hurt by inflation in motor claims. While Sabre has benefitted from aggressive price hikes, higher costs of claims and an underperforming motor insurance …

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Norway’s Equinor tries again for a Japan offshore wind lease, sources say

22 Oct 2024

By Katya Golubkova and Yuka Obayashi TOKYO (Reuters) -Norwegian energy company Equinor has submitted a bid to develop an offshore wind farm together with other companies in the latest round of Japan’s state auctions, two sources said, as it seeks a foothold in the fledgling market. Equinor’s bid underscores the focus some wind players are …

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Poland needs reforms to keep up economic success, IMF officials say

22 Oct 2024

WARSAW (Reuters) – Poland’s economic transformation in recent decades is remarkable, but it needs reforms to sustain growth, International Monetary Fund (IMF) officials told Reuters. “Poland is one of the great economic growth success stories in the world over the last 30 years,” Geoff Gottlieb, IMF senior regional representative for Central, Eastern and South-Eastern Europe, …

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UK home improvement retailer Wickes posts Q3 revenue growth on pent-up demand

22 Oct 2024

(Reuters) -Home improvement retailer Wickes reported a 2.1% growth in group revenue on Tuesday as customers caught up on outdoor projects that were pushed by the wet weather during spring and early summer in Britain. Wickes said its expectations for 2024 adjusted pretax profit remains unchanged as it foresees pent-up demand to subside in the …

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UK energy services firm Hunting cuts profit forecast on lower oil prices

22 Oct 2024

(Reuters) – British energy services firm Hunting Plc slashed its annual profit outlook on Tuesday, partly hurt by prospective lower client activity for the rest of the year due to a decline in oil prices and renewed falls in U.S. natural gas pricing. “Whilst the outlook for the international and offshore subsectors of the industry …

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Analysis-Big UK property sales to test market appetite after slump

22 Oct 2024

By Iain Withers and Sinead Cruise LONDON (Reuters) – Britain’s commercial property market is returning to life after its post-pandemic freeze, albeit largely at much lower prices. Some big-ticket office properties now on sale will show just where the market is likely to bottom out and how briskly UK deal volumes will recover – especially …

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Mulberry rejects Frasers’ takeover proposal as ‘untenable’

22 Oct 2024

LONDON (Reuters) – British luxury brand Mulberry on Tuesday rejected a second takeover proposal from Mike Ashley’s Frasers Group, calling it “untenable”. Frasers on Oct. 11 had raised its proposal to 150 pence per Mulberry share, valuing the brand, best known for its handbags, at 111 million pounds ($144 million). Mulberry’s biggest shareholder, Challice Limited, …

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Eurofins says independent audit refutes short seller’s allegations

22 Oct 2024

(Reuters) – French laboratory testing company Eurofins Scientific said on Tuesday an independent audit by Ernst & Young Paris had found no material misstatements in its cash statements, refuting earlier allegations by short seller Muddy Waters. WHY IT’S IMPORTANT On June 24, the Eurofins shares fell more than 16% after Muddy Waters questioned its financial …

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Saab profit rises, sees sales growth at upper end of forecast range

22 Oct 2024

By Niklas Pollard STOCKHOLM (Reuters) -Swedish defence material maker Saab on Tuesday reported a slightly bigger-than-expected rise in third-quarter operating earnings and affirmed its outlook for surging sales and profits this year as countries scramble to re-arm. The company reported quarterly operating earnings of 1.19 billion Swedish crowns ($112.8 million) versus a year-ago 859 million …

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Next wave of LNG supply delayed to 2027 due to project hold-ups, TotalEnergies says

22 Oct 2024

SINGAPORE (Reuters) -The next wave of liquefied natural gas (LNG) supply will come online from 2027, later than the earlier forecast of 2025, due to project delays, TotalEnergies’ Senior Vice President for LNG Gregory Joffroy said on Tuesday. “On the mid-term (outlook), we see some LNG projects that were due to come onstream in the …

Next wave of LNG supply delayed to 2027 due to project hold-ups, TotalEnergies says Read More »

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