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BRUSSELS (Reuters) – Oreo maker Mondelez International was fined 337.5 million euros ($365.72 million) by EU antitrust regulators on Thursday for impeding cross-border trade of chocolate, biscuits and coffee products between EU countries. The European Commission said Mondelez had abused its dominant position in breach of EU antitrust laws. “Mondelez’s illegal practices prevented retailers from …

Mondelez fined $365.7 million euros by EU for cross-border trade curbs Read More »

(Reuters) -Bloomsbury Publishing’s shares fell 8.3% on Thursday after Chair Richard Lambert announced his retirement after seven years in the role, while the Harry Potter publisher also forecast its current year to be slightly ahead of market view. Lambert, 79, a seasoned journalist and former Chair of the British Museum, will be succeeded by John …

Bloomsbury Chair to retire; Harry potter publisher sees upbeat year Read More »

By Aby Jose Koilparambil and Yadarisa Shabong (Reuters) -Britain’s National Grid plans to raise about 7 billion pounds ($8.9 billion) through a fully underwritten rights issue of 1.09 billion new shares as it gears up to invest 60 billion pounds in energy network infrastructure, it said on Thursday. Britain has a target to decarbonise its …

UK’s National Grid plans $9 billion rights issue to help fund investment Read More »

BERLIN (Reuters) – Germany’s long-awaited economic recovery is not materialising and the euro zone’s largest economy will only stagnate this year, the German chambers of commerce and industry (DIHK) said on Thursday. Nevertheless, the forecast was more optimistic than at the start of the year, when the DIHK expected a 0.5% contraction. The DIHK expects …

German economy expected to stagnate this year, DIHK says Read More »

By Sruthi Shankar (Reuters) -European stocks rose on Thursday after strong forecasts from AI darling Nvidia lifted global chipmakers, while surveys pointing to improving business activity in the euro zone prompted traders to scale back bets of interest rate cuts this year. The pan-European STOXX 600 index was up 0.2%, with the tech index rising …

European shares rise as chipmakers bounce on Nvidia forecast Read More »

By Eva Mathews (Reuters) -Wizz Air is gearing up for a strong summer after its first annual profit in three years lifted the European low-cost airline’s London-listed shares on Thursday. Hungary-based Wizz has benefited from robust demand as it navigates challenges including flight cancellations last year due to the Middle East conflict and engine inspections …

Wizz Air returns to profit, sees robust year for travel Read More »

(Reuters) – UK utilities led fallers in early London trading on Thursday after Prime Minister Rishi Sunak called a surprise election in July the previous day, raising concerns over political risk in the sector. Also adding pressure was National Grid announcing plans to raise about 7 billion pounds ($8.9 billion) through a rights issue. The …

British utilities stocks fall sharply as election looms Read More »

By Jesus Calero and Agnieszka Olenska (Reuters) -Swedish games developer Embracer said its finance chief would step down due to personal reasons, after the Tomb Raider franchise owner’s fourth-quarter sales missed market expectations on Thursday. Embracer, like other gaming groups, benefited from growing demand for video games during COVID-related lockdowns, but has since been hit …

Tomb Raider owner Embracer’s CFO to step down as Q4 sales miss forecast Read More »

By Andy Bruce LONDON (Reuters) – Growth across British businesses has cooled noticeably this month and by more than any economist polled by Reuters had predicted, a survey showed on Thursday, in an early blow for Prime Minister Rishi Sunak’s election campaign. The S&P Global UK Composite Purchasing Managers’ Index for the services and manufacturing …

Growth across UK business dips in May, in early blow to Sunak, PMI survey shows Read More »

ZURICH (Reuters) – Swiss engineering group ABB said on Thursday it was making two new appointments to its executive committee from August. The company said Giampiero Frisio would become the new president of its Electrification Business Area and Brandon Spencer the new president of its Motion Business Area. Both will take on their new roles …

ABB names two new members for executive committee Read More »