Reuters UK Business

Gas leak at Norway’s Kaarstoe plant stopped, impact ‘minimal’, says Gassco

21 Feb 2024

OSLO (Reuters) -Norway’s gas processing plant Kaarstoe was partly evacuated due to an ethane leak on Wednesday evening, but the incident will have “minimal” impact on gas transport, its operator, Gassco, said. The plant on Norway’s western coast exports natural gas via offshore pipeline to Emden, Germany, and also produces liquefied petroleum gas (LPG), exported …

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Axway in discussions to buy most of Sopra Steria’s SBS unit for 330 million euros

21 Feb 2024

(Reuters) – French software company Axway said on Wednesday it had started discussions to potentially buy most of Sopra Banking Software activities from Sopra Steria. Axway would acquire the activities based on an enterprise value of 330 million euros ($357 million), it said in a statement. Axway plans to finance the transaction by combining a …

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Eramet in talks with France to offload debt from SLN nickel unit

21 Feb 2024

PARIS (Reuters) -Eramet is in “very advanced talks” with the French government to remove from its balance sheet several hundred million euros of debt related to its loss-making nickel subsidiary SLN in New Caledonia, the mining group said. The company’s talks with the French authorities are part of wider negotiations to rescue the struggling nickel …

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EU Commission eyes centralised spectrum policy in telecoms market revamp

21 Feb 2024

By Foo Yun Chee BRUSSELS (Reuters) -The European Commission said on Wednesday it may seek to manage radio spectrum as part of a revamp of the European telecoms market, as well as broaden existing rules to include Big Tech and ensure a level playing field for telecoms operators. The Commission said interested parties have until …

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FTSE 100 ends down as HSBC slumps after taking big charge

21 Feb 2024

By Shristi Achar A and Sruthi Shankar (Reuters) -Britain’s blue-chip share index closed lower on Wednesday as lender HSBC plunged after it reported a shock $3 billion charge on its stake in a Chinese bank, while investors waited with bated breath for Wall Street darling Nvidia’s earnings. HSBC Holdings dropped 8.4%, its biggest one-day drop …

FTSE 100 ends down as HSBC slumps after taking big charge Read More »

Germany’s shortage of workers is biggest risk to growth, minister says

21 Feb 2024

By Riham Alkousaa BERLIN (Reuters) – The biggest challenge for Europe’s largest economy will be growth constraints due to a workforce shortage, German Economy Minister Robert Habeck said on Wednesday after Berlin slashed its outlook for this year. The government expects the economy to grow 0.2% this year, far less than a previously forecast 1.3%, …

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Qiwi shares collapse after Russia revokes Qiwi Bank’s licence

21 Feb 2024

MOSCOW (Reuters) -The Bank of Russia on Wednesday said it had revoked the banking licence of Qiwi Bank for engaging in what it described as high-risk operations, sending its Moscow-listed shares plummeting almost 50% to a record low. The central bank, which has taken regulatory action against Qiwi five times in the last year, said …

Qiwi shares collapse after Russia revokes Qiwi Bank’s licence Read More »

BAE Systems earnings growth to slow after better-than-expected 2023

21 Feb 2024

By Sarah Young LONDON (Reuters) -Britain’s BAE Systems forecast slower earnings growth in 2024 after a 14% jump last year, when the defence company’s order backlog swelled to a record level driven by new submarine contracts and demand linked to Ukraine. CEO Charles Woodburn said BAE, which makes submarines, Typhoon fighter jets amongst other equipment, …

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SQM venture arm invests $9.4 million in UK EV battery recycling firm Altilium

21 Feb 2024

By Nick Carey LONDON (Reuters) – SQM Lithium Ventures has invested $9.4 million in British electric vehicle battery recycler Altilium to help the company scale up its operations, the two firms said on Wednesday. The corporate venture arm of Sociedad Quimica y Minera de Chile’s (SQM) lithium business provided most of the $12 million Series …

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Glencore’s 2023 earnings halve on lower commodity prices

21 Feb 2024

By Clara Denina and Pratima Desai LONDON (Reuters) -Glencore said on Wednesday lower commodity prices had halved its earnings last year, and slashed its payout to investors, as the company saves to fund the acquisition of a 77% stake in Teck Resources’ metallurgical coal business. After two consecutive record years, adjusted earnings before interest, tax, …

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