Reuters UK Business

By John Revill and Richa Naidu ZURICH/LONDON (Reuters) – Nestle is replacing CEO Mark Schneider with company veteran Laurent Freixe, the Swiss food group said on Thursday, marking a change of leadership as it faces a challenge to grow sales. Schneider has decided to step down as CEO and a member of the board of …

Nestle replaces CEO Schneider with company veteran Freixe Read More »

By Arunima Kumar (Reuters) – North Sea oil and gas company Ithaca Energy reported a nearly 34% fall in net profit for the first half of the year on Thursday, hurt by lower production, a decline in natural gas prices and impairment charges. Shares of Ithaca, fell about 2.3% to 128p in morning trade. Ithaca, …

Ithaca Energy profit falls on lower production and natgas prices Read More »

By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Deutsche Bank has more work to do to overcome its Postbank troubles even after announcing settlements with more than half the plaintiffs who had accused it of underpaying them in its takeover of the German retail bank in 2010. Deutsche Bank’s shares initially rose about 3% on …

Deutsche Bank settles bulk of Postbank claims, but others hold out Read More »

(Reuters) – Euro zone negotiated wage growth slowed last quarter, bolstering the case for another interest rate cut in September and assuaging policymakers’ fears that runaway labour costs would continue to put upward pressure on inflation. Growth in negotiated wages slowed to 3.55% in the second quarter from 4.74% three months earlier, primarily because of …

Euro zone negotiated wage growth slows, boosting ECB rate cut hopes Read More »

By Martin Coulter LONDON (Reuters) -Donald Trump’s potential White House return has helped spur a flurry of investment in defence-technology startups across Europe, according to eight prominent industry executives and investors. The Republican presidential candidate has threatened U.S. withdrawal from NATO and said he would not defend allies that did not increase their defence budgets. …

Trump anxiety spurs investment in European defence startups Read More »

By James Davey LONDON (Reuters) -British sportswear retailer JD Sports Fashion reported an improvement in sales in its latest quarter but said it was cautious on its outlook for the rest of the year with markets globally set to remain highly promotional. The FTSE 100-listed group, which sells Nike, Adidas, On, HOKA and other sports …

UK’s JD Sports says global sportswear market to remain highly promotional Read More »

PARIS (Reuters) – French President Emmanuel Macron will use a trip to Serbia at the end of this month to discuss strengthening economic ties between the countries and Serbia’s role in the AI sector, Macron’s office said on Thursday. Serbia has positioned itself as a regional leader in AI research and will chair the Global …

France’s Macron to discuss AI and economy on trip to Serbia Read More »

By Pranav Kashyap (Reuters) -European shares rose on Thursday as investors sifted through a wave of economic data from major European economies, while anticipating the start of the Federal Reserve’s Jackson Hole conference later in the day. The pan-European STOXX 600 index rose 0.5% at 516.29 points. SEA OF PMI DATA Flash purchasing managers’ index …

European markets rise on mixed PMI data; Jackson Hole conference in focus Read More »