Reuters UK Business

(Reuters) -Australia’s Westpac Banking Corp on Monday said its first quarter unaudited net profit was lower than its prior six-month’s quarterly average, citing the impact of notable items related to hedge accounting. Westpac’s margins also took a hit in the first quarter as nearly two years of high interest rates raised cost of mortgage repayments. …

Australia’s Westpac first-quarter profit falls from its prior HY quarterly average Read More »

By Elizabeth Pineau and Geert De Clercq PARIS (Reuters) -French Finance Minister Bruno Le Maire said the government had lowered its forecast for 2024 GDP growth to 1% from 1.4% as war in Ukraine and Gaza and a slowdown at top trading partners Germany and China darkened the outlook. In an interview with French television …

France cuts 2024 growth forecast as outlook darkens Read More »

BERLIN (Reuters) -Ground staff at German airline Lufthansa [LHAG.DE] will go on strike on Tuesday, the Verdi union said on Sunday, announcing the latest industrial action to hit Germany’s transport sector as workers demand more pay. The strike is scheduled to start at 4 a.m. (0300 GMT) on Tuesday and finish at 7.10 a.m. (0610 …

Lufthansa ground staff to strike on Tuesday, says union Read More »

(Reuters) -British electricals retailer Currys confirmed on Saturday that it had rejected a proposal from investment management firm Elliott Advisors to acquire the company. “The Board of Currys considered the Proposal, together with its financial advisers, and concluded that it significantly undervalued the Company and its future prospects,” a statement from Currys board said. As …

UK’s Currys rejects takeover bid from Elliott Advisors Read More »

By Andreas Rinke MUNICH (Reuters) – German Finance Minister Christian Lindner said on Saturday his his government will ease red tape for investments into defence companies as Berlin ramps up its military spending in the face of the Ukraine war. Speaking on the sidelines of the Munich Security Conference, Lindner told Reuters his government wanted …

German finance minister wants to boost defence industry Read More »

(Reuters) -Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80 billion or more, the New York Times reported on Friday, citing people with knowledge of the deal. The company would sell existing shares in a so-called tender offer led by venture firm Thrive Capital, the report said. Under the deal, …

OpenAI valued at $80 billion after deal, NYT reports Read More »

MEXICO CITY (Reuters) -Volkswagen’s Mexican unit announced on Friday an investment of around $1 billion, in a second installment of spending by the German automaker aimed at boosting its electric vehicle (EV)business at its existing operations in central Mexico. In a statement, the company did not offer further details on what kind of EV production …

Volkswagen announces second phase of Mexico investment of around $1 billion Read More »