LONDON (Reuters) -Harbour Energy, the largest British North Sea oil and gas producer, reported on Thursday a net profit of just $32 million for 2023, as the UK’s windfall tax for energy companies wiped out most of its pretax profit while lower natural gas prices and output dented revenue. Following the spike in energy prices …
Harbour Energy’s $32 million annual profit curbed by Britain’s windfall tax Read More »
By Tom Sims and John O’Donnell FRANKFURT (Reuters) -Deutsche Pfandbriefbank (PBB), one of Germany’s top property financiers dating back to the 1860s and bailed out by the government in 2009, is navigating what it calls “the greatest real estate crisis since the financial crisis”. The bank has assured investors it has enough funds to cope …
German property lender PBB and the crisis-hit US market Read More »
By Christian Kraemer and Christoph Steitz BERLIN/FRANKFURT (Reuters) -Tesla on Wednesday said its plant in Germany was expected to have no electricity until March 17, after a suspected arson attack left the company’s gigafactory outside Berlin without power, forcing it to halt production. Security officials cleared the Tesla site on Tuesday after what Chief Executive …
Tesla says German plant power outage to continue until end of next week Read More »
By David Milliken LONDON (Reuters) -Britain currently sees somewhat less value in issuing long-dated gilts compared to short or medium-dated bonds as it seeks to fund its second-highest borrowing needs on record, the head of the country’s debt agency said. Earlier on Wednesday, the United Kingdom Debt Management Office announced it would issue 265 billion …
UK debt chief sees less value in long-dated gilt issuance Read More »
(Reuters) -British clothing and food retailer Marks & Spencer’s co-CEO Katie Bickerstaffe is leaving the company and handing over the sole reins to Stuart Machin, Sky News reported on Wednesday. Bickerstaffe will leave the company this year, the report said, adding that she would join as a non-executive director of European home improvement retailer Kingfisher. …
Marks & Spencer co-CEO Bickerstaffe to step down, Sky News reports Read More »
By Elvira Pollina MILAN (Reuters) – Telecom Italia (TIM) expects its core earnings to grow at 8% on a compound annual basis over the next three years under a new leaner structure after a planned sale of its domestic fixed-line network, it said on Wednesday. Worth up to 22 billion euros ($24 billion) and backed …
TIM sees annual growth of 8% for core profit under new leaner structure Read More »
By Aleksandra Szmigiel, Kacper Pempel and Karol Badohal WARSAW (Reuters) -Tens of thousands of farmers and their supporters warned on Wednesday they would bring Poland to a standstill, after violent clashes with police outside the country’s parliament in Warsaw. The protesters had gathered at the prime minister’s office in the Polish capital, burning tyres and …
Farmers threaten to bring Poland to a halt after police clashes Read More »
LONDON (Reuters) -Britain’s finance ministry said on Wednesday it will introduce regulation for providers of environmental, social and governance (ESG) ratings on companies to improve “clarity and trust” in benchmarks widely used to steer investments, but gave no specific timeline. Trillions of dollars globally have flowed into company shares, with asset managers using ESG ratings …
Britain says it will regulate ESG ratings later in 2024 Read More »
By Huw Jones LONDON (Reuters) – Britain set out draft rules on Wednesday for unlisted companies to sell shares on an exchange, helping to diversify ownership by allowing venture capital to relinquish some of their stakes and build up a better pipeline of listings to compete with New York. Britain’s finance minister Jeremy Hunt unveiled …
Britain proposes bridge between private and public equity markets Read More »
(This March 5 story has been refiled to fix a typographical error, in paragraph 3) (Reuters) – Lindt & Spruengli reported a rise in annual profit on Tuesday as the Swiss chocolate maker managed to pass on higher ingredients costs to customers while maintaining volumes amid a broader slowdown in the global chocolate market. Cocoa …
Lindt’s 2023 profit lifted by price hikes as chocolate market slows Read More »
