Reuters UK Business

(Reuters) -German chemicals group Evonik Industries on Tuesday reported preliminary first-quarter core profit above market expectations, citing higher sales volumes in its Specialty Additives and Nutrition & Care divisions. The company posted adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 522 million euros ($554.05 million) in the quarter, beating by 16% the forecast …

Evonik beats market expectations with Q1 core profit Read More »

By Oliver Hirt ZURICH (Reuters) -UBS said on Tuesday it expects low single-digit growth in first-quarter combined net interest income (NII) for wealth management and personal and corporate banking, upping the previous guidance for the two core business arms. The Swiss lender, which has been under pressure from moves to toughen banking regulation, made the …

UBS more bullish on first quarter interest income for key businesses Read More »

By Prerna Bedi (Reuters) – Hays and Robert Walters warned of near-term challenges on Tuesday as both UK recruiting firms posted a drop in first-quarter net fees reflecting weak client and candidate confidence. Hays shares were down 3.3%% and Robert Walters down 5.1% as of 0825 GMT in London as they joined peer PageGroup in …

UK recruiters Hays, Robert Walters warn on market conditions Read More »

By Elizabeth Howcroft LONDON (Reuters) -Leaders of the UK’s financial technology industry are urging the British government to increase tax relief and help them raise more investment, as some executives warn a shortage of domestic investors is holding back the sector. Trade body Innovate Finance’s “Unicorn Council”, which includes the CEOs of Monzo, Revolut’s UK …

UK fintechs ask government for help to ease capital shortages Read More »

By Patricia Weiss and Ludwig Burger INGELHEIM, Germany (Reuters) – Boehringer Ingelheim on Tuesday overtook Bayer as Germany’s largest drugmaker when the unlisted company reported a currency-adjusted gain in 2023 pharmaceutical sales of 10.3% to 20.8 billion euros ($22.11 billion). Diversified rival Bayer reported in March that 2023 sales at its pharmaceuticals division slipped 6% …

Boehringer replaces Bayer as Germany’s largest drugmaker on Jardiance gains Read More »

By Mathieu Rosemain and Sudip Kar-Gupta PARIS (Reuters) – Amundi, Europe’s largest asset manager, said on Tuesday it was making its biggest foray into the United States by selling its U.S. arm to Victory Capital in exchange for a 26% stake in the U.S. company. Amundi’s U.S. arm currently manages $104 billion – less than …

Amundi makes biggest foray into US with Victory tie-up Read More »

By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom is being asked by EU antitrust regulators about changes to newly acquired cloud computing company VMware’s licensing conditions following complaints from a spate of EU business users and a trade group. The EU competition enforcer said it had sent requests for information to Broadcom to investigate …

Broadcom questioned by EU over VMware licensing changes Read More »

By Victoria Waldersee BERLIN (Reuters) -Tesla is laying off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs). “About every five years, we need to reorganize and streamline the company for the next …

Tesla laying off more than 10% of staff globally as sales fall Read More »