By Ankika Biswas and Johann M Cherian (Reuters) -European shares snapped a nine-day winning streak on Thursday, weighed by Germany’s Siemens after a second-quarter industrial profit miss, while a number of automobile and energy stocks also dropped on trading ex-dividend. The pan-European STOXX 600 was down 0.2% after hitting a record high on Wednesday, as …
European shares snap nine-day winning streak as Siemens weighs Read More »
By Pranav Kashyap and Purvi Agarwal (Reuters) -Britain’s FTSE 100 closed slightly lower on Thursday, as disappointing news from EasyJet and Sage Group offset a surge in BT Group after the telecoms group’s new boss unveiled steps to boost its cash flow. BT Group’s shares surged a record 17.2% after CEO Allison Kirkby set out …
FTSE 100 ends lower on disappointing corporate updates, BT Group soars Read More »
By Paul Sandle LONDON (Reuters) – The new boss of BT set out a path to more than double free cash flow over the next five years and potentially dispose of its global enterprise business as it focuses on Britain where it has been investing heavily, sending its shares up by over 10%. Allison Kirkby, …
BT jumps after new CEO aims to double free cash flow, focus on UK Read More »
By Maria Martinez BERLIN (Reuters) – High energy costs, weak global demand, a disruptive shift towards net-zero economies, and growing competition from China are raising existential questions for Germany’s economic model. CEOs and business lobbies say its historically strong industrial base is close to cracking, a “de-industrialisation” risk often accompanied by calls for government support. …
Fears of German ‘de-industrialisation’ may be overblown – for now Read More »
By Yamini Kalia (Reuters) -Watches of Switzerland forecast higher revenues in its new financial year, sending shares in the luxury retailer up as much as 19% on Thursday following a tough time for the industry. Luxury groups including Burberry, LVMH and Kering have reported difficult trading conditions amid sticky inflation and a weak Chinese market. …
Watches of Switzerland shares tick higher on brighter outlook Read More »
By Andres Gonzalez and Jesús Aguado LONDON/MADRID (Reuters) -Santander’s Victor Matarranz is stepping down as global head of wealth management and insurance as the Spanish bank expands the business, two people with knowledge of the plans said on Wednesday. Santander plans to fold its investment platforms and corporate holdings business into the wealth unit, one …
DUBLIN (Reuters) – Bank of Ireland plans to wind down its 2 billion euro ($2.17 billion) corporate lending business in Britain, in its latest retreat from the market which it said on Wednesday was aimed at generating long-term sustainable returns. Ireland’s largest bank has reduced its lending assets in the UK by about a quarter …
Bank of Ireland to wind down British corporate lending business Read More »
By Anirban Sen NEW YORK (Reuters) -Goldman Sachs told Reuters it has hired two investment bankers from rival banks as part of a push to advise on more smaller deals worth up to $2 billion. The Wall Street investment bank has hired Kerry Burke from Evercore and Eddie Rubin from Lazard. Burke, who focused on …
Goldman Sachs hires from rivals to expand in mid-market deals Read More »
By Joanna Plucinska LONDON (Reuters) -Johan Lundgren, the architect of easyJet’s recovery from the pandemic, will step down in early 2025, it said on Thursday, sending its shares sharply lower as the budget airline also reported first-half losses in line with its expectations. Lundgren, who has slashed debt and built up a profitable packaged holiday …
EasyJet sinks as CEO plans to step down next year Read More »
FRANKFURT (Reuters) – Commercial property has become the weak link of the euro zone’s financial system, with losses there threatening to hurt banks, insurers and funds, a European Central Bank report showed on Thursday. Commercial real estate (CRE) companies have been hit by a triple whammy of higher borrowing costs, falling demand for office space …
Commercial property is weak link in euro zone finance, ECB says Read More »
