Reuters UK Business

MOSCOW (Reuters) -Russia’s dominant lender Sberbank on Friday reported an 11.3% increase in first-quarter net profit to 397.4 billion roubles ($4.32 billion) and sharply raised its retail loan growth forecast for the year. Sberbank made record profits of 1.5 trillion roubles in 2023, a more than five-fold increase on the previous year, as Russia’s banking …

Russia’s Sberbank raises retail loan growth outlook as quarterly profit jumps Read More »

FRANKFURT (Reuters) – Euro zone consumers lowered their expectation for inflation over the next 12 months in March but continued to see price growth above the European Central Bank’s 2% target further out, the ECB’s Consumer Expectations Survey showed on Friday. Inflation has fallen quickly over the past year and the ECB is planning to …

Euro zone consumers lower inflation expectations again, ECB survey shows Read More »

By Paul Sandle LONDON (Reuters) -Private equity firm Thoma Bravo agreed to buy Britain’s Darktrace for about $5.32 billion in cash on Friday, saying it would use its software expertise to drive growth at the Mike Lynch-backed cybersecurity specialist. The agreed price of $7.75, or around 620 pence per share represents a 44% premium to …

Thoma Bravo to buy UK’s Darktrace for about $5.32 billion Read More »

By Sheila Dang (Reuters) -Snap beat Wall Street’s expectations for quarterly revenue and user growth on Thursday, as improvements to its advertising system delivered results faster than anticipated. Shares of Snap spiked 25% to $14.32 in after-market trading. The owner of photo messaging app Snapchat has been working over the past year to improve how …

Snap beats first-quarter expectations, shares jump 25% Read More »

By Yuvraj Malik, Anna Tong and Stephen Nellis (Reuters) – Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from AI adoption across its cloud services, and the company’s shares jumped over 4% in extended trade. Revenue rose 17% to $61.9 billion in the quarter ended March, exceeding the …

Microsoft profit, revenue beat estimates, shares jump over 4% Read More »

By Greg Bensinger and Akash Sriram (Reuters) -Alphabet announced its first-ever dividend on Thursday and a $70 billion stock buybuck, cheering investors who sent the stock surging nearly 16% after the bell. The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals on generative artificial intelligence. …

Google parent Alphabet announces first-ever dividend, shares soar Read More »

By Arsheeya Bajwa and Max A. Cherney (Reuters) -Intel forecast second-quarter revenue and profit below market estimates on Thursday, as it faces weak demand for its traditional data center and personal computer chips amid efforts to build its contract manufacturing business. Shares of the Santa Clara, California-based company fell close to 6% in extended trading. …

Intel forecasts second-quarter revenue below estimates, shares fall Read More »

CARACAS (Reuters) – Spanish fast fashion retailer Inditex on Thursday relaunched its business in Venezuela with the opening of a Zara store via a franchise agreement. In 2021, Inditex, which also owns Bershka, Pull & Bear and other brands, closed all the group’s shops in the South American country, following a revised franchise agreement with …

Spanish retail giant Inditex opens Zara franchise in Caracas Read More »

STOCKHOLM (Reuters) -Sweden’s Electrolux, the world’s second-biggest appliances maker, said on Thursday its CEO of eight years Jonas Samuelson will step down on Jan. 1, 2025. Electrolux said in a statement Samuelson had informed the company of his decision to also leave the board, which will now launch a search for a successor. “I currently …

Long-time Electrolux CEO Jonas Samuelson to step down next year Read More »