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BERLIN (Reuters) – A tangible recovery in Europe’s biggest economy is not yet in sight despite positive trends in industrial production, construction and foreign trade at the start of 2024, Germany’s economy ministry said on Friday in its monthly report. “This is due to persistently weak domestic demand, high financing costs and continued subdued sentiment …

No recovery in sight for Germany economy, ministry says Read More »

By Tom Sims and Matthias Inverardi FRANKFURT (Reuters) -Shares in Vonovia dropped 6% on Friday after Germany’s largest landlord reported its biggest loss ever for 2023, in the latest sign of stress in the real estate sector. German property firms are undergoing a major change of fortune after an end to the cheap money era …

Vonovia shares drop as $7 billion loss lays bare German property crisis Read More »

LONDON (Reuters) – Vodafone will return 4 billion euros ($4.35 billion) of capital and halve the dividend from its next financial year after the sale of its Italian operation to Swisscom agreed on Friday, and the sale of its Spanish unit agreed last year. The British company said it would rebase its dividend to 4.5 …

Vodafone to return 4 billion euros, halve dividend after Italy deal Read More »

WARSAW (Reuters) – Polish refiner Orlen said on Friday it signed an agreement to sell Gas Storage Poland, the country’s gas storage operator, to the state run gas-pipeline operator Gaz-System. The sale was a condition set by the country’s antimonopoly regulator for Orlen’s merger with gas company PGNiG and requires its clearance. Orlen merged with …

Poland’s Orlen sells natural gas storage operator to Gaz-System Read More »

(Reuters) – British high-end homebuilder Berkeley flagged tough conditions in the housing market on Friday, echoing its FTSE 100 peer Persimmon’s concerns expressed earlier this week, as political and economic uncertainties drive homebuyers away. The UK housing market has seen signs of stability at the start of 2024 on easing mortgage rates after battling subdued …

UK homebuilder Berkeley underscores persistent tough sales conditions Read More »

HOUSTON (Reuters) – BP PLC said on Thursday it was in talks with the Venezuela and Trinidad and Tobago governments to develop a gas field. BP has been seeking to increase its natural gas production in Trinidad to feed into Atlantic LNG’s liquefied natural gas export facility. BP’s gas output has fallen in the last …

BP in talks with Venezuela and Trinidad governments to develop gas field Read More »

(Reuters) -Euro zone’s largest bank BNP Paribas is considering a potential acquisition of Chinese conglomerate Fosun International’s stake in Belgian insurer Ageas, Bloomberg News reported on Thursday, citing people with knowledge of the matter. Fosun International holds a 7.19% stake in Ageas, according to LSEG data. The France-headquartered lender’s discussions on a possible purchase of …

BNP Paribas considers buying Fosun’s Ageas stake, Bloomberg News reports Read More »

ROME (Reuters) -Intel has postponed plans to invest in Italy, the country’s industry minister said on Thursday, after a project to build an advanced packaging and chip assembly factory first mooted in March 2022 was never finalised. The US technology company has “given up or postponed its investments in France and Italy, compared with others …

Intel has shelved investment in Italy, minister says Read More »

By Pete Schroeder WASHINGTON (Reuters) -JPMorgan Chase & Co has been fined $348.2 million by a pair of U.S. bank regulators over its inadequate program to monitor firm and client trading activities for market misconduct, the Federal Reserve announced on Thursday. The Fed fined the bank alongside the Office of the Comptroller of the Currency …

JPMorgan fined nearly $350 million for inadequate trade reporting Read More »