Reuters UK Business

LONDON (Reuters) – The downturn in euro zone factory activity eased for a third month in January but could stretch through this quarter, according to a survey on Thursday that showed a majority of sub-indices remained within the contraction zone. HCOB’s final euro zone manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, climbed to …

Euro zone factory downturn eased for third month in January Read More »

LONDON (Reuters) -Adidas deliveries to retailers are being delayed by Red Sea shipping disruptions, the CEO of the sportswear company told analysts on Thursday, adding that soaring freight rates are weighing on gross margins. Shipments are currently delayed by about three weeks, CEO Bjorn Gulden said, and that is causing some delivery issues, especially to …

Adidas CEO flags delays and higher costs from Red Sea disruption Read More »

By Mathieu Rosemain PARIS (Reuters) -BNP Paribas reported a surprise drop in fourth-quarter income and pushed back a key profitability target, sending the French bank’s shares sliding by 8% on Thursday. Revenue at its investment bank, which CEO Jean-Laurent Bonnafe has been expanding, fell from a year earlier as did sales at its consumer and …

BNP Paribas earnings miss, profit target delay hit shares Read More »

WARSAW (Reuters) – The head of state-controlled Polish refiner Orlen on Thursday said he did not expect to be in his job for much longer after a supervisory board meeting later in the day. A shareholder meeting has been called for Feb. 6 to make changes to the supervisory board at the request of Poland’s …

Orlen CEO expects axe as new Polish government eyes change Read More »

By Maria Martinez BERLIN (Reuters) – The downturn in Germany’s manufacturing sector, which accounts for about a fifth of the country’s economy, eased in January, a survey showed on Thursday. The HCOB final Purchasing Managers’ Index (PMI) for manufacturing rose to 45.5 in January from 43.3 in December, increasing for the sixth month in a …

German manufacturing downturn eases in January – PMI Read More »

(Reuters) – European shares kicked off February on a dour note on Thursday, as investors digested a raft of dismal earnings updates, while the U.S. Federal Reserve signalling that an early interest rate cut was unlikely also weighed on sentiment. The pan-European STOXX 600 index fell 0.2% as of 0820 GMT. Banks dragged the most, …

European shares slip as earnings, hawkish Fed weigh Read More »

By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Deutsche Bank said on Thursday it would cut 3,500 jobs, buy back shares and pay dividends, in its latest pitch to investors that its turnaround remains on track. The news came as Germany’s biggest bank, seeking to put years of turmoil behind it and focus on steadier …

Deutsche Bank to cut 3,500 jobs and reward shareholders Read More »

By Jesús Aguado MADRID (Reuters) -Spanish bank Sabadell on Thursday struck a cautious tone about the outlook for net interest income growth in 2024 after lending revenue fell in the fourth quarter of 2023 from the previous three-month period, sending its shares lower. The bank said it expected low-single-digit lending income growth this year, down …

Spain’s Sabadell cautious on 2024 lending income growth after quarterly decline Read More »