Reuters UK Business

By Granth Vanaik (Reuters) -Hershey on Thursday outlined a new two-year restructuring program that would generate about $300 million in pre-tax savings after projecting annual sales and profit below Wall Street expectations. The Reese’s Peanut Butter Cups maker’s announcement helped shares reverse course to rise about 6% in early trading. The restructuring will impact less …

Hershey targets cutting $300 million in costs as annual forecasts disappoint Read More »

By Daphne Psaledakis and Timothy Gardner WASHINGTON (Reuters) -The U.S. Treasury Department said on Thursday it had put sanctions on three entities based in the United Arab Emirates (UAE) and one tanker registered by Liberia for violating a cap placed on the price of Russian oil by a coalition of Western nations. The Treasury also …

US imposes sanctions for violations of Russia oil price cap Read More »

BRUSSELS (Reuters) – EU antitrust chief Margrethe Vestager on Thursday voiced doubts as to whether Big Tech will fully comply with landmark EU rules aimed at reining in their power and ensure a level playing field for smaller rivals. “I have reservations as to whether or not we will have full compliance,” Vestager told a …

EU’s Vestager doubts if Big Tech will fully comply with landmark EU rules Read More »

By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators have set a March 13 deadline to decide whether to clear Cisco Systems’ $28 billion bid for cybersecurity firm Splunk, according to a European Commission filing. The technology deal, which was the biggest of last year, will help to reduce Cisco’s reliance on its networking …

Cisco’s $28 billion Splunk deal set for March 13 EU antitrust decision Read More »

PARIS (Reuters) – The French economy is set to end a six-month phase of stagnation and expand by 0.1% to 0.2% in the first quarter, the country’s central bank said on Thursday as it released its monthly business survey. “Declines in the construction and energy sectors were offset by a rise in value added in …

French central bank says economy set for slight growth in Q1 Read More »

By Alexander Marrow and Gleb Stolyarov (Reuters) -An entity formed of senior Yandex managers will become the Russian internet company’s largest shareholder with a 35% stake should a $5.2 billion cash and share deal go through, Yandex NV said in a shareholder circular on Thursday. The 475 billion rouble deal, announced on Monday, to sell …

Yandex management to be largest shareholder after planned $5.2 billion deal Read More »

LONDON (Reuters) – British American Tobacco submitted an application to make certain health claims about its Glo Hyper Pro device in the United States in December, its first clear move to bring the alternative smoking product to the key market. BAT had applied to market the product in the U.S. in 2021. But since then …

Cigarette giant BAT makes move on US heated tobacco market Read More »