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PARIS (Reuters) – French power regulator CRE recommended that state-regulated household power prices be set at least 10% lower from February 2025 to ease the financial burden on the population. WHY IT’S IMPORTANT Dissatisfaction with inflation among French voters has been reflected at the ballot box in European and national elections this year that saw …

French regulator recommends 10% household electricity price cut in early 2025 Read More »

AMSTERDAM (Reuters) – The Dutch government’s latest sale of ABN Amro shares has reduced its stake in the bank to 40.5% from 49.5%, Finance minister Eelco Heinen said in a letter to parliament on Wednesday. WHY IT’S IMPORTANT The sale is part of the government’s plan to cut its stake in ABN Amro, one of …

Dutch government cuts stake in ABN Amro to 40.5% Read More »

ZURICH (Reuters) -Agrochemicals company Syngenta is cutting just over 10% of its workforce at its Swiss headquarters in Basel, the company said on Wednesday, following a big downturn in its crop protection business this year. Up to 150 of the 1,100 positions in the city will be affected at the Chinese-owned company which employs 60,000 …

Agrichemicals company Syngenta cuts jobs in Switzerland Read More »

LONDON (Reuters) – HSBC has launched a strategic review of its Malta business, the British bank said in a stock exchange filing on the local bourse on Wednesday, in a process which often leads to the sale or disposal of the asset under review. HSBC has an indirect stake of 70% in HSBC Bank Malta …

HSBC reviews Malta business for possible sale Read More »

(Reuters) – Abu Dhabi National Oil Company (ADNOC) is expected to make a formal offer to acquire Covestro for about 14.4 billion euros ($15.9 billion) including debt, the Financial Times reported on Wednesday. Having circled the German chemicals firm for more than a year, ADNOC in June won the target company over to disclose more …

ADNOC expected to make formal offer for Covestro of about $15.9 billion, FT reports Read More »

HELSINKI (Reuters) – Finnish refiner Neste on Wednesday cut the outlook for its renewables business for the third time this year due to falling prices and lower than expected sales volumes, sending the company’s share price down 10%. Neste slashed the expected sales margin of its renewables unit to between $360-$480 per tonne, down from …

Finland’s Neste warns of weaker renewables outlook, share price drops 10% Read More »

By Sudip Kar-Gupta BRUSSELS (Reuters) – Two Russian oligarchs and the country’s National Settlement Depository company on Wednesday lost legal challenges against European Union sanctions imposed on them after Russia’s 2022 invasion of Ukraine. The EU has imposed multiple rounds of sanctions since Russia invaded Ukraine. They include trade restrictions to cut defence and other …

Russian oligarchs and financial firm lose court challenge against EU sanctions Read More »

By James Davey LONDON (Reuters) -Online fashion retailer Boohoo said on Wednesday it would stop supplying U.S. customers from a site in Pennsylvania and return to fulfilling orders from Britain, in a strategy reversal it said would lead to an unquantified writedown. Boohoo shares were down 2% in early trade, extending 2024 losses to 32%, …

UK’s Boohoo to stop supplying US customers locally Read More »

By Pranav Kashyap (Reuters) -European shares opened higher on Wednesday, boosted by the tech and basic resources sectors, while investors awaited a key U.S. inflation reading for clues on the Federal Reserve’s interest rate decision next week. The pan-European STOXX 600 index was up 0.2%. All regional indexes were trading in the green. Heavy-weight ASML …

European shares rise on boost from tech, resources sectors Read More »