Reuters UK Business

By Gaelle Sheehan (Reuters) -French infrastructure group Vinci on Wednesday reported a stronger-than-expected rise in full-year operating income and revenue for 2023 but was cautious about the pace of revenue growth in 2024. It expects total revenue to rise next year but growth is likely to be more limited than in 2023. Its earnings should …

Vinci sees more limited revenue growth in 2024 after strong 2023 results Read More »

MILAN (Reuters) – Italy’s BPER Banca on Wednesday forecast a 2024 profit excluding extraordinary items in line with last year despite expected rate cuts likely to erode the bank’s net interest margin this year. Italy’s fourth-largest bank said the gap between lending and deposit costs is expected to narrow “slightly” in 2024, while a positive …

Italy’s BPER sees 2024 income stable despite “slightly” lower interest margin Read More »

By Patricia Vicente Rua LISBON (Reuters) – Ryanair is concerned by shortcomings identified by U.S. regulators in a report into the Alaska Airlines 737 MAX 9 accident, and increased regulatory supervision is set to “slow things down” at Boeing, CEO Michael O’Leary said on Wednesday. Ryanair, Europe’s largest airline by passenger numbers and one of …

Ryanair CEO: Boeing quality is a concern, further delays possible Read More »

FRANKFURT (Reuters) -German exchange operator Deutsche Boerse on Wednesday reported a 13% rise in fourth-quarter net profit in line with expectations, and forecast “significant” increases in revenue and profit for 2024. Higher interest rates from central banks around the world have generated interest income for Deutsche Boerse, lifting revenues and profits. Net profit attributable to …

Deutsche Boerse Q4 profit up 13%, in line with expectations Read More »

BERLIN (Reuters) – The German government is preparing for a possible nationalisation of Rosneft’s German activities, including its stake in the Schwedt refinery, two government sources said on Wednesday. Berlin placed Rosneft’s German assets, including its 54.17% stake in Berlin’s Schwedt refinery, under a trusteeship in September 2022 in the wake of Russia’s full-scale invasion …

Berlin preparing for possible Rosneft Germany nationalisation – sources Read More »

MILAN (Reuters) – Telecom Italia (TIM) directors on Wednesday mandated CEO Pietro Labriola to negotiate with the Treasury over a new offer for submarine cable unit Sparkle after deciding a proposed full takeover bid was too low. Under the new potential structure of the deal, TIM would keep a minority stake in Sparkle for a …

Telecom Italia mandates CEO to negotiate new bid for Sparkle with Treasury Read More »

By Jayshree P Upadhyay (Reuters) – Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the United Arab Emirates (UAE), is setting up a $4-5 billion fund to invest in India through a tax-neutral finance hub in Prime Minister Narendra Modi’s home state of Gujarat, according to two sources with direct knowledge of …

Exclusive-UAE wealth fund plans $4-5 billion in investments via India’s new finance hub – sources Read More »

By Foo Yun Chee and Bart H. Meijer BRUSSELS/AMSTERDAM (Reuters) -Ryanair on Wednesday won its second challenge against a 3.4-billion-euro ($3.7 billion) Dutch bailout for Air France-KLM’s Dutch unit after Europe’s second top court said EU competition regulators had erred in not taking into account other beneficiaries within the airline group. Ryanair in 2021 won …

Ryanair again wins court challenge against Dutch bailout for KLM Read More »

By Elviira Luoma and Jesus Calero (Reuters) – The world’s biggest lockmaker Assa Abloy reported a smaller-than-expected rise in fourth-quarter operating profit on Wednesday, as like-for-like sales growth ground to a halt amid slow residential markets. The Swedish group’s quarterly operating profit, excluding items affecting comparability, increased 11% from a year earlier to 5.72 billion …

Assa Abloy misses Q4 profit forecast amid residential market slowdown Read More »