Reuters UK Business

Advent, CVC make joint bid for European pet food business owned by Cinven, FT reports

24 Mar 2024

(Reuters) -Private equity groups Advent International and CVC Capital have teamed up to bid for Partner in Pet Food (PPF), a maker of animal food owned by Cinven, the Financial Times reported on Sunday. The talks are ongoing although there is no certainty that a deal will be reached, the newspaper reported, citing people familiar …

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Investors greenlight Trump’s $5.7 billion social media deal

23 Mar 2024

By Helen Coster, Svea Herbst-Bayliss (Reuters) -Former U.S. President Donald Trump came a step closer on Friday to reaping a major windfall from his social media firm after investors in a blank-check acquisition company approved a merger currently worth about $5.7 billion.  The deal values Trump’s majority stake in the company that holds his app …

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German wind power sector welcomes government offshore terminal funding

23 Mar 2024

By Emma-Victoria Farr FRANKFURT (Reuters) -The German Offshore Wind Energy Foundation said the government’s decision to help fund the expansion of an offshore terminal is important to achieve expansion goals for wind energy at sea. In a statement late Friday, the foundation said it welcomed a government move to contribute to the costs of expanding …

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High Court orders temporary suspension of Telegram’s services in Spain

23 Mar 2024

MADRID (Reuters) – Spain’s High Court has ordered the suspension of messaging app Telegram’s services in the country after media companies complained it was allowing users to upload their content without permission, according to a court source. The use of Telegram in Spain will be temporarily suspended from Monday after a request by media firms …

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German Bundesbank president warns against extremism, euro exit – FUNKE

23 Mar 2024

FRANKFURT (Reuters) – Bundesbank President Joachim Nagel said right-wing extremists threaten Germany’s prosperity, and an exit from the euro would be “an economic catastrophe for all of us”, in an interview with Funke Media group published on Saturday. “I appeal to everyone not to take the danger of right-wing extremism lightly,” he said, adding that …

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Fitch revises United Kingdom’s outlook to ‘stable’ on easing policy risks

23 Mar 2024

(Reuters) – Global ratings agency Fitch revised the United Kingdom’s sovereign credit outlook to “stable” from “negative” on Friday, citing easing economic policy risks, and affirmed its sovereign credit rating at “AA-“. The outlook revision comes after Britain’s economy rebounded to growth in January from a shallow recession in the second half of 2023, driven …

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Belgian insurer Ageas abandons pursuit of UK rival Direct Line

22 Mar 2024

(Reuters) -Belgian insurer Ageas SA said on Friday it did not intend to make a further offer for Direct Line after the British home and motor insurer turned down two previous proposals. Direct Line rejected a revised 3.17 billion pound ($4 billion) takeover bid last week from Ageas, saying it “significantly undervalued” the company. The …

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Air Europa says customer data may have been compromised in October breach

22 Mar 2024

(Reuters) – Spanish airline Air Europa said on Friday personal data of its customers may have been compromised in a security incident that was detected in October last year. The company’s investigation showed that name, ID card or passport details, date of birth, telephone number, email address and nationality details could have been leaked, Air …

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EU watchdog fines Scope ratings 2.2 million euros for ‘structural failures’

22 Mar 2024

By Marc Jones LONDON (Reuters) – The European Union’s securities watchdog has fined Germany-based credit rating firm Scope Ratings almost 2.2 million euros ($2.4 million) for conflict of interest breaches due to what it described as “structural failures” and “negligence”. The European Securities and Markets Authority (ESMA) said there had been five separate breaches of …

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