Reuters UK Business

By John Revill ZURICH (Reuters) -Siemens reported on Thursday a drop in second-quarter earnings at its industrial business, as China maintained its trend of destocking longer than previously expected. The maker of items from trains to industrial software said its business was still being hit by uncertain customers preferring to run down supplies rather than …

Siemens misses profit forecast as customers stick to trend of destocking Read More »

A look at the day ahead in European and global markets from Kevin Buckland Hopes that the U.S. inflation genie is back in the bottle has given investors globally the confidence to snap up stocks and riskier currencies, at the notable expense of the dollar. Wall Street’s rally to new records set up gains across …

Post-CPI party goes global Read More »

By Jessica DiNapoli NEW YORK (Reuters) -At least one Mondelez investor, Swedish pension fund AP7, will back a resolution calling for the Oreo cookie maker to conduct an independent study of the risks of continuing to do business in Russia, which faces a vote at the company’s annual meeting this month. McDonald’s and Starbucks are …

Swedish investor AP7 to back study on Mondelez Russia business Read More »

By Gaelle Sheehan (Reuters) – French video games group Ubisoft swung to an operating profit for its full-year to end-March, it said on Wednesday, as record bookings helped it reverse a year earlier loss of 500 million euros, its biggest ever. Ubisoft’s full-year net bookings jumped 33.5% to 2.31 billion euros, on a non-IFRS operating …

Video game maker Ubisoft swings to full-year operating profit on record bookings Read More »

By Elvira Pollina ROME (Reuters) – U.S. investment firm KKR will likely offer remedies next week in an attempt to secure EU antitrust approval to buy Telecom Italia’s (TIM) fixed-line access network, a person familiar with the matter said on Wednesday. KKR wants to acquire TIM’s domestic network for up to 22 billion euros ($23.87 …

KKR remedies on Telecom Italia deal expected next week, source says Read More »

ROME (Reuters) – Volkswagen and a group representing car owners in Italy have reached an agreement worth more than 50 million euros ($54 million) to end a legal battle over the “dieselgate” emissions scandal, they said on Wednesday. In the settlement, over 60,000 car owners affected by the emissions fraud will be paid up to …

Volkswagen reaches $54 million ‘dieselgate’ settlement with Italian owners Read More »

LONDON/FRANKFURT (Reuters) – The U.S. Treasury has warned Austria’s Raiffeisen Bank International (RBI) that its access to the U.S. financial system could be restricted because of its Russian dealings, according to a person who has seen a letter detailing the threat. The May 6 letter is the strongest warning yet to the biggest Western bank …

Explainer-Austria’s Raiffeisen faces US wrath over Russian business Read More »

(Reuters) – Italian energy company ERG on Wednesday published a new 2024-2026 business plan, under which it pledges to pay a dividend of up to 1.3 euros ($1.41) and invest up to 1.2 billion euros. The group said it would define the dividend year by year, but guarantees a minimum value of one euro, the …

Energy company ERG plans higher dividend, 1.2 billion euros in investment in 2026 Read More »