Reuters UK Business

By Sruthi Shankar (Reuters) -European stocks edged higher on Tuesday as bumper earnings from BP helped offset losses in UBS and Nordic Semiconductor, while investors took comfort from fresh stimulus for China’s battered financial markets. The pan-European STOXX 600 index added 0.2%, following a 1.3% jump in Asian stocks after China’s state fund stepped up …

European stocks edge up as BP, China stimulus offset rate jitters Read More »

By Ron Bousso LONDON (Reuters) -BP posted forecast-beating earnings of $3 billion in the fourth quarter on Tuesday while boosting share repurchases and vowing to make pragmatic investments, as its recently appointed CEO sought to allay investor concern over its energy transition strategy. The company’s shares were more than 5% higher by 0907 GMT following …

BP beats forecast with $3 billion quarterly profit, boosts buybacks Read More »

ZURICH (Reuters) – UBS said on Tuesday it would resume share buybacks and raised its cost-saving targets as it announced it had completed the first phase of integrating its fallen rival Credit Suisse. The Swiss banking giant bought Credit Suisse in an emergency rescue last March. The biggest banking deal since the 2008-2009 financial crisis …

Factbox-UBS’ targets as it absorbs Credit Suisse Read More »

By Ron Bousso LONDON (Reuters) – BP will simplify its business and become more pragmatic in its investment decisions, CEO Murray Auchincloss told Reuters as he seeks to allay investor concerns over its energy transition strategy. “The past four years have been about origination and now it’s time to simplify” as BP moves into a …

BP to simplify business, become more pragmatic, CEO says Read More »

NICOSIA (Reuters) – The European Central Bank is confident that inflation is coming back to its 2% target and that its next move will be cutting interest rates, policymaker Pablo Hernandez de Cos said on Tuesday. “It is already very important for European citizens to know that we are confident the next move will be …

ECB is confident next move will be rate cut, de Cos says Read More »

By Nora Buli OSLO (Reuters) -Swedish utility Vattenfall on Tuesday reported a fall in underlying operating profit for the fourth quarter, citing lower power prices, though its CEO warned market volatility would remain amid a lack of new generation. Underlying earnings before interest and tax at the state-owned energy group fell to 4.5 billion Swedish …

Swedish utility Vattenfall’s Q4 profits fall on lower prices Read More »

FRANKFURT (Reuters) – Euro zone consumers have trimmed their expectations for inflation over the next 12 months, a European Central Bank poll showed on Tuesday, in a sign the ECB’s credit-tightening efforts are having an impact. The Consumer Expectations Survey (CES) is used by policymakers to gauge whether the steepest streak of interest-rate hikes in …

Euro zone consumers trim near-term inflation expectations: ECB Read More »

(Reuters) – Germany’s Rheinmetall said on Tuesday that its joint venture with Man Truck and Bus had been awarded a 282 million pound ($354.14 million) contract to deliver 500 palletized load system (PLS) trucks to the British defence ministry. Rheinmetall MAN Military Vehicles UK is to deliver the vehicles, which deliver a key capability to …

Rheinmetall MAN Military Vehicles UK awarded $354 million truck order Read More »