Reuters UK Business

(Reuters) – Italian shoemaker Geox cut its full-year sales growth outlook on Tuesday, citing inflationary pressures as it reported a double-digit yearly drop in first-quarter revenues due to weakness in its wholesale channel. The maker of breathable, waterproof footwear now expects 2024 revenue to drop by a mid-single-digit percentage from last year, having previously forecast …

Shoemaker Geox cuts full-year sales outlook, wholesale weighs on Q1 figures Read More »

By Andres Gonzalez and Pietro Lombardi LONDON/MADRID (Reuters) – Spanish oil company Repsol is in negotiations to sell a stake in its renewable energy unit, a move to help fund its strategic plan through 2027, according to four sources with knowledge of the talks. The company has received an unsolicited approach by an investor and …

Exclusive-Repsol in talks to sell a slice of its renewable business, sources say Read More »

By Maria Martinez BERLIN (Reuters) -German investor morale improved more than expected in May, reaching its highest level since February 2022, when Russia invaded Ukraine, the ZEW economic research institute said on Tuesday. The economic sentiment index rose to 47.1 points from 42.9 in April. Analysts polled by Reuters had expected a May reading of …

German investor morale hits two-year high in May Read More »

LONDON (Reuters) -Anglo American on Tuesday laid out a strategic review that includes a potential break-up of the company by demerging or selling its steelmaking coal, nickel, diamonds and platinum businesses as it tries to fend off a takeover bid from the world’s largest miner BHP Group. The announcement comes a day after the London-listed …

Anglo American eyes break-up, steelmaking coal, nickel, diamonds offloads Read More »

By James Davey LONDON (Reuters) -British baker and fast food retailer Greggs is building logistics capacity for a store estate of around 3,500, up from the 2,500 shops it currently trades from, it said on Tuesday. The company, based in Newcastle, northeast England, is famous for its sausage rolls, steak bakes and vegan alternatives and …

Britain’s Greggs building capacity for 3,500 stores Read More »

By Andrey Sychev BERLIN (Reuters) -German arms group Rheinmetall posted a 60% rise in first-quarter profit on Tuesday, as the joint manufacturer of Leopard tanks rides a defence spending boom triggered by Russia’s invasion of Ukraine. However, Rheinmetall’s earnings were below consensus forecasts, Stifel analyst Alexander Wahl said, and its shares were down 5% at …

Leopard tank maker Rheinmetall rides arms boom but misses profit forecast Read More »

By Sarah Young LONDON (Reuters) – British electricals retailer Currys, which rejected a takeover offer earlier this year, raised its annual profit forecast by around 10% after sales returned to growth, boosting its shares. The stock jumped 9% to 71 pence in early deals on Tuesday, hitting levels last seen in March 2023. The group’s …

UK’s Currys jumps after upgrading forecasts Read More »