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BERLIN (Reuters) -Danish logistics company DSV won the race to buy Schenker, the rail logistics arm of German state railway Deutsche Bahn, sources at the railway and at the German government said. The sources said a preliminary contract for the transaction, worth some 14 billion euros ($15.43 billion), would be signed in coming days. The …

Denmark’s DSV wins 14 billion-euro race for Deutsche Bahn’s Schenker, sources say Read More »

(Reuters) -RTX is open to pruning and pairing its existing businesses rather than pursuing “transformative” mergers and acquisitions, the aerospace giant’s CEO said on Wednesday. Speaking at a conference organized by Morgan Stanley, CEO Christopher Calio pointed to the second-quarter divestment of its Goodrich Hoist and Winch business as an example of the deals the …

RTX CEO does not see ‘transformative’ deals, open to pruning business Read More »

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 »