Reuters UK Business

By Sheila Dang (Reuters) -Snap narrowly missed Wall Street estimates for quarterly revenue on Tuesday, as the Snapchat owner continued to struggle to compete against larger rivals for digital advertising revenue. Shares of Snap dropped 20% in trading after the bell. Tech giants like Facebook-owner Meta Platforms and Alphabet command more attention from advertisers due …

Snap misses revenue estimate, says it will focus more on user growth as shares plunge Read More »

(Reuters) – Toymaker Mattel’s Fisher-Price brand head, Chuck Scothon, will leave the company after about six years leading the division, the Wall Street Journal reported on Tuesday, citing a company spokesperson. Mattel is advertising for a new general manager and senior vice president of Fisher-Price to lead the brand, the report said. The company did …

Mattel’s head of Fisher-Price to depart – WSJ Read More »

(Reuters) -SBB said on Tuesday that one of its creditors had started legal proceedings against the Swedish property group for its failure to repay a bond. The holdings of the bondholder represent about 46 million euros ($49.43 million), SBB said, adding that it may take around 18 months to reach a judgement. U.S. hedge fund …

Sweden’s SBB faces legal proceedings from bondholder over repayment Read More »

By Emma-Victoria Farr FRANKFURT (Reuters) -Germany’s state-owned KfW bank on Tuesday launched the placement of 50 million shares of its holding in Deutsche Post via an accelerated bookbuild, as the German government seeks to raise funds as agreed in its 2024 budget. The share placement is directed at institutional investors. Following the transaction, KfW will …

Germany’s KfW bank sells 50 million Deutsche Post shares Read More »

By Valentina Za MILAN (Reuters) – Intesa Sanpaolo Chief Executive Carlo Messina on Tuesday criticised as “almost pathological” an excessive use of share buybacks to reward investors in Europe, after Italy’s biggest bank announced the buyback markets had been expecting. Messina also said he thought it was safer to provision against loan losses above a …

Intesa CEO critical of excessive bank buybacks, underprovisioning Read More »

(Reuters) – The U.S. National Transportation Safety Board on Tuesday published its preliminary report on a January Alaska Airlines incident involving a Boeing 737 MAX where an air panel blew out in mid-flight, according to the agency’s website. The Jan. 5 incident has become a safety and reputational crisis for the U.S. planemaker that will …

U.S. National Transportation Safety Board publishes preliminary report on Alaska 737 MAX 9 Read More »

By Ron Bousso and Andres Gonzalez LONDON (Reuters) – BP is considering bringing in partners to solar developer Lightsource BP to help boost returns from the fast-growing business, CEO Murray Auchincloss said on Tuesday. BP last November announced it will take full ownership of Lightsource BP (LSBP), buying the remaining 50% stake in the joint …

BP weighs bringing in partners to solar business, says CEO Read More »