Reuters UK Business

Short sellers take bets on nearly 8% of German bank PBB, filings show

12 Feb 2024

FRANKFURT (Reuters) -Short sellers have taken bets against nearly 8% of shares in Deutsche Pfandbriefbank (PBB), filings showed on Monday, as the German lender came under pressure on concerns over its exposure to the U.S. commercial real estate market. Separately, the bank’s shares gained 3.9% in morning trade in Frankfurt, after sharp falls last week …

Short sellers take bets on nearly 8% of German bank PBB, filings show Read More »

German commercial property prices post biggest-ever drop, data shows

12 Feb 2024

FRANKFURT (Reuters) – German commercial property prices fell 12.1% in the final three months of 2023 compared with a year earlier in their biggest-ever drop, the VDP banking association said on Monday, as the nation’s struggling property industry suffers its worst crisis in decades. That makes for a 16.5% fall in prices from their peak …

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European shares rise on Wall Street bounce; focus on data-packed week

12 Feb 2024

(Reuters) – European shares climbed on Monday, catching the tailwind from a bounce on Wall Street that pushed the S&P 500 to close above 5,000 for the first time, while investors tracked earnings and economic data to gauge the European Central Bank’s rate outlook. The pan-European STOXX 600 edged 0.3% higher by 0810 GMT, with …

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Exclusive-Unilever CEO pursuing strategic shift with Peltz’s backing

12 Feb 2024

By Richa Naidu LONDON (Reuters) – Unilever CEO Hein Schumacher said billionaire activist and board member Nelson Peltz is “fully behind” a recently devised strategy to re-invigorate the company, even as some other investors remain sceptical after years of industry underperformance. Schumacher told Reuters he wants Unilever, whose brands include Dove soap, Hellmann’s condiments and …

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Britain’s Tritax Big Box agrees on possible $1.17 billion offer for rival UKCM

12 Feb 2024

(Reuters) – UK real estate investment trust Tritax Big Box has reached an agreement for a possible all-share offer for rival UK Commercial Property REIT Ltd (UKCM) valued at 924 million pounds ($1.17 billion), the companies said on Monday. Under the terms of the possible deal, every UKCM owner will get 0.444 new Tritax shares …

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Digital music group Believe gets takeover offer of 15 euros per share

12 Feb 2024

PARIS (Reuters) – French digital music company Believe said it had received a 15 euros per share offer from a consortium made up of some of its largest shareholders to take over the company, in a deal valuing it at around 1.52 billion euros ($1.64 billion). Reuters had previously reported in January that Believe was …

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Battery maker ACC secures financing for three European factories

12 Feb 2024

By Gilles Guillaume PARIS (Reuters) – European auto battery manufacturer ACC, co-owned by Stellantis, Mercedes and TotalEnergies, on Monday announced the completion of a major financing round for the development of three “gigafactories” in France, Germany and Italy. The bank financing worth 4.4 billion euros ($4.74 billion) – a large chunk of its total needed …

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Stellantis uses surplus plants in Europe as leverage in a fight with Rome

12 Feb 2024

By Giulio Piovaccari and Nick Carey MILAN (Reuters) – A recent war of words between Italian Prime Minister Giorgia Meloni and Stellantis CEO Carlos Tavares has exposed a tough new reality: Europe’s one-time homegrown national automakers have become global players ready to exploit the EU’s overcapacity of car factories to obtain better government deals. Stellantis, …

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Dutch insurer Achmea weighs $3.2 billion sale of life insurance division, FD newspaper says

12 Feb 2024

AMSTERDAM (Reuters) – Dutch insurer Achmea is weighing the sale of its life insurance division, Dutch financial daily FD reported on Monday, citing sources. Achmea has hired JPMorgan to chart the possibilities for the division, including a sale which bankers estimated could yield around 3 billion euros ($3.24 billion), the paper said. Achmea is the …

Dutch insurer Achmea weighs $3.2 billion sale of life insurance division, FD newspaper says Read More »

Novo Nordisk’s controlling shareholder plans to invest up to $7 billion a year by 2030 – FT

12 Feb 2024

(Reuters) – Novo Holdings, the controlling shareholder of Danish obesity drugmaker Novo Nordisk, plans to invest up to $7 billion annually by 2030, the Financial Times reported on Monday. Kasim Kutay, chief executive of Novo Holdings, told the newspaper that income from its 28% stake in Novo Nordisk and other investments would give the fund …

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