Reuters UK Business

By Maria Martinez BERLIN (Reuters) -Germany’s coalition government reached a deal on Friday to narrow its 2025 budget deficit target from 17 billion euros ($19 billion) down to 12 billion euros, in a compromise aimed at salvaging the spending plan after the original proposals fell apart. The cabinet approved its 2025 budget in July after …

German government reaches deal to reduce deficit target after 2025 budget debacle Read More »

(Reuters) – UBS Asset Management, part of the UBS Group, will divest its Quantitative Investment Strategies (QIS) business to Manteio Partners LLC and its affiliates, it said on Friday. The QIS portfolio management team, which oversees funds and mandates worth about $1.5 billion, will transfer to Manteio and operate as a distinct group within the …

UBS Asset Management to divest Quantitative Investment Strategies business Read More »

By Tommy Reggiori Wilkes LONDON (Reuters) -Britain’s Revolut has been valued at $45 billion through a secondary share sale to new and existing investors, the financial technology firm said on Friday, making it worth more than some of Europe’s biggest banks. The share sale is being led by Coatue and D1 Capital Partners, and existing …

Britain’s Revolut valued at $45 billion in share sale Read More »

(Reuters) – Britain’s financial regulator fined audit firm PricewaterhouseCoopers (PwC) 15 million pounds ($19.33 million) on Friday for failing to alert the watchdog to suspected fraudulent activity at London Capital & Finance. ($1 = 0.7759 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Mrigank Dhaniwala)

By Siddharth Cavale and Savyata Mishra (Reuters) -Americans are worried about inflation, so they are shopping more at Walmart. The U.S. retailer raised its annual sales and profit forecasts on Thursday for a second time this year, as Americans flocked to its stores for inexpensive essentials, sending its shares up 8% to a record high. …

Walmart boosts sales outlook, shares surge to record Read More »

By Nora Buli ARENDAL, Norway (Reuters) – Battery start-up Morrow on Friday opened Norway’s first battery cell production site on the country’s south coast, with plans to deliver the first units by the end of the year and adding more production step by step. Battery cell production is one new industry Norway is keen to …

Norway’s Morrow Batteries opens factory, plans first deliveries by year-end Read More »

By Tom Sims FRANKFURT (Reuters) -Deutsche Bank has proposed a settlement to shareholders who sued Germany’s largest bank for underpaying them for the acquisition of Postbank but the offer is too low, a lawyer for the plaintiffs said on Friday. The lawyer, Jan Bayer, rejected the bank’s proposal as a “crackhead” offer that is “dead …

Exclusive-Deutsche Bank’s proposed Postbank case settlement offer rejected by plaintiffs Read More »

By Amy-Jo Crowley and Alexander Hübner LONDON (Reuters) – The owners of the World Rally Championship’s commercial arm are exploring options including a possible sale of the business, seeking to bring in cash at a time of high valuations for sports media rights, according to people familiar with the matter. The owners, Austrian drink group …

Rallying-World rally championship promoter explores $550 million sale, sources say Read More »