Reuters UK Business

By Shanima A (Reuters) -The British government on Thursday made a final order to conditionally approve the proposed merger between Vodafone’s UK operation and Hutchison’s Three UK, following a detailed national security assessment of the telecom deal. The UK’s Cabinet Office said security conditions to approve the deal include the companies setting up a “National …

UK grants conditional security clearance for Vodafone-Three merger Read More »

(Reuters) – Ford Motor is considering offering gas-powered vehicles and hybrids beyond 2030 in Europe, a change from its initial plan for an all-electric lineup in the region, the Detroit automaker said on Thursday. The company had in 2021 outlined plans for an all electric lineup for Europe by the end of the decade. “As …

Ford mulls offering gas-powered vehicles, hybrids in Europe beyond 2030 Read More »

(Reuters) -Shares of Arm Holdings fell on Thursday as the chip designer’s softer-than-expected annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months. The stock fell as much as 8.5% before paring some of its losses to trade 1.5% lower at $104.50 in the afternoon. Bets that …

Arm shares fall as soft forecast takes shine off AI optimism Read More »

By Francesca Landini MILAN (Reuters) -Italian utility Enel said on Thursday its first-quarter core profit rose 12% year-on-year driven by a strong recovery in renewable energy production at home. Ordinary earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 6.1 billion euros ($6.6 billion), beating a consensus of 5.73 billion euros among analysts …

Green energy production in Italy boosts Enel’s Q1 results Read More »

By Catarina Demony and Pietro Lombardi LISBON (Reuters) – London-based Savannah Resources will if necessary ask Portugal’s government to authorise compulsory land acquisitions for its planned lithium mines in the country’s north, CEO Emanuel Proenca said, adding that it prefers “friendly deals”. The company requires around 840 hectares for its four-mine project in the Barroso …

Savannah could request compulsory land acquisitions for Portuguese lithium project Read More »

(Reuters) – Polish footwear and fashion retailer CCC said on Thursday its first-quarter earnings more than tripled as profitability improved across all its business lines. Preliminary earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 304 million zlotys ($76.41 million) compared with 89 million in the year-earlier period. Revenue in the February-April quarter …

Polish retailer CCC’s first-quarter earnings jump 244% Read More »

By Virginia Furness LONDON (Reuters) – Staff at an influential corporate climate action group whose board announced a plan to allow companies to offset greenhouse gas emissions from their supply chain with carbon credits has now found such offsets are largely ineffective, a confidential preliminary draft reviewed by Reuters shows. At stake is the growth …

Exclusive: Corporate climate watchdog document deems carbon offsets largely ineffective Read More »

By Ankika Biswas (Reuters) -Europe’s benchmark index retreated on Thursday from a recent rally, with a handful of heavily weighted stocks trading ex-dividend, while shares of Spanish bank BBVA slumped after announcing a hostile takeover bid for smaller rival Sabadell. The pan-European STOXX 600 edged 0.1% lower by 0830 GMT, after jumping 2.5% over the …

Europe’s STOXX 600 pauses after recent rally; BBVA weighs on Spain Read More »

By Jesús Aguado MADRID (Reuters) -Spanish bank BBVA presented a 12.23 billion euro ($13.11 billion) takeover offer for rival Sabadell directly to shareholders on Thursday, turning to a hostile bid after Sabadell’s board rejected the same proposal this week. BBVA’s decision comes after Sabadell’s board on Monday said the unsolicited bid significantly undervalued the bank’s …

Spain’s BBVA turns hostile with $13 billion takeover bid for Sabadell Read More »