Reuters UK Business

By Andy Bruce (Reuters) – Britain’s shift towards a services-dominated economy is accelerating, pushing manufacturing’s share of economic output to a historic low and setting the nation apart from its global peers. Recent data show the make-up of the world’s sixth-biggest economy is changing fast, driven by global trends but also domestic factors such as …

Services’ grip on UK economy tightens as manufacturing share ebbs further Read More »

DUESSELDORF (Reuters) – IG Metall, Germany’s most powerful union, expects talks to drag on over how to properly fund Thyssenkrupp’s steel division once it is separated, one of its regional heads said, less than two weeks after the unit’s leadership resigned. “Not this year,” Knut Giesler, who heads IG Metall’s branch in North Rhine-Westphalia, where …

IG Metall union sees no quick fix in Thyssenkrupp steel funding dispute Read More »

(Reuters) – Sweden’s Husqvarna said on Tuesday it expects a 5% decline in its third quarter organic sales due to restrained consumer spending. The garden equipment and tools maker saw a slump of 9% in last quarter sales and has now accelerated its cost savings programs. The company benefited from the home improvements trend during …

Sweden’s Husqvarna sees decline in third quarter organic sales Read More »

By Nate Raymond BOSTON (Reuters) – An employee of French drugmaker Ipsen has agreed to plead guilty to illegally making more than $262,000 by trading on inside information he learned about his company’s plans to acquire cancer drug developer Epizyme in 2022. Dishant Gupta, Ipsen’s director of data strategy and operations, plans to plead guilty …

Employee of French drugmaker Ipsen to plead guilty to US insider trading Read More »

By Jesús Aguado and Tommy Reggiori Wilkes MADRID/LONDON (Reuters) – Spanish banker Ana Botin set about transforming Santander, a sprawling, acquisition-obsessed and fragmented lender into a leaner, simpler global bank as soon as her father’s sudden death thrust her into the role. A decade on, it’s still a work in progress. Santander shares have fallen …

A decade on, Botin’s redesign of Santander empire her family built is incomplete Read More »

NEW YORK (Reuters) – Goldman Sachs is close to finalizing a deal to transfer its General Motors credit card business to Barclays, a source familiar with the matter said on Tuesday. The exit from the business partnership with GM, with about $2 billion of outstanding balances, is part of Goldman Sachs’ move to narrow its …

Goldman Sachs nearing a deal to transfer GM credit card business to Barclays, source says Read More »

By Victoria Waldersee FRANKFURT (Reuters) -Volkswagen said on Tuesday it was scrapping a range of labour agreements including a guarantee of jobs until 2029 at six German plants, raising the prospect of redundancies from next year that worker representatives have vowed to resist. Europe’s top carmaker is cancelling the decades-old employment guarantees as part of …

Volkswagen scraps decades-old job guarantees, paving way for lay-offs Read More »

By Foo Yun Chee BRUSSELS (Reuters) -Teva, the world’s largest generic drugmaker, will be hit with an EU antitrust fine in the coming weeks for disparaging a rival product to its blockbuster multiple sclerosis medicine Copaxone, people with direct knowledge of the matter said on Tuesday. The European Commission in 2022 charged the Israeli company …

Exclusive-Teva faces EU fine for disparaging rival multiple sclerosis medicine, sources say Read More »

(Reuters) – Rupert Murdoch-owned property listings firm REA Group has made an initial takeover offer for Britain’s Rightmove, Bloomberg News reported on Tuesday citing people familiar with the matter. News Corp-backed REA Group had last week announced its interest in buying Rightmove to create a global real estate company. The current market capitalization of Rightmove …

REA Group makes initial takeover offer for UK property giant Rightmove, Bloomberg News reports Read More »

(Reuters) – The market for weight-loss treatments is expected to see 16 new drugs vying for a slice of the lucrative business currently dominated by Novo Nordisk and Eli Lilly, according to estimates from analysts at Morningstar and Pitchbook. In a joint report published on Monday, analysts estimated the market for obesity treatments could expand …

Weight-loss market to see 16 new drugs by 2029, report estimates Read More »