Reuters UK Business

PARIS (Reuters) -France should step up its efforts to revive its public finances and meet its medium-term fiscal target, Finance Minister Bruno Le Maire said on Friday after Moody’s and Fitch decided to spare the country an embarrassing downgrade. Their decisions to leave France’s ratings unchanged were far from assured after the finance ministry had …

French ratings reprieve reason to push harder on budget, minister says Read More »

By Lucy Raitano and Tommy Wilkes LONDON (Reuters) -European banking stocks hit their highest level since 2015 on Friday, helped by first-quarter earnings that beat forecasts and signalled lenders remained in a “sweet spot”. The basket of STOXX Europe 600 banks touched 197.7, a level last reached in October 2015, aided by a 5.9% jump …

European bank stocks at highest since 2015 after earnings boost Read More »

RABAT (Reuters) – French energy firm Engie plans to sell its stake in Morocco’s largest coal plant in Safi (SAFIEC), to focus on renewables and energy infrastructure, the company’s North Africa director said on Friday. “By January 2027, we plan to have already divested from all our coal assets,” Loic Jaegert-Huber told Reuters on the …

Engie to divest from Morocco’s Safi coal plant before 2027 Read More »

(Reuters) -Apollo Global Management, KKR & Co and Stonepeak may invest billions of dollars in a joint venture to help fund Intel’s semiconductor fabrication facility in Ireland, Bloomberg News reported on Friday. Intel has been grappling with weak demand for its chips used in the traditional data center and PC industry while it lags behind …

Apollo, KKR and Stonepeak may fund Intel’s Ireland facility, Bloomberg reports Read More »

(Reuters) – Boeing said on Friday that it has closed a deal with aero supplier GKN Aerospace and its parent company Melrose Industries for a plant in St. Louis. The deal immediately transitions GKN’s St. Louis site’s operations in support of F/A-18 and F-15 jet programs to Boeing, and the manufacturing of critical components will …

Boeing, GKN Aerospace close deal for St. Louis site Read More »

By Sabrina Valle HOUSTON (Reuters) -U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. Results at oil and gas firms are still retreating from record levels in 2022 that were boosted by a surge in demand after the …

Earnings for Big Oil backpedal as natgas prices tumble Read More »

By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators on Friday warned that British Airways owner IAG’s bid to secure full control of Air Europa may reduce competition and lead to price increases. The European Commission singled out the impact on Spanish domestic routes and short-haul and long-haul routes in a statement of objections …

EU antitrust regulators warn IAG, Air Europa deal may reduce competition Read More »

By Christoph Steitz, Andrey Sychev and Jan Lopatka FRANKFURT/BERLIN/PRAGUE (Reuters) -Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit. For Thyssenkrupp the deal marks what it hopes will …

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky Read More »