Reuters UK Business

By Sinéad Carew and Pranav Kashyap (Reuters) -Wall Street’s three major indexes lost ground on Thursday with the Nasdaq Composite and the S&P 500 leading losses as Meta and Microsoft shares tumbled on worries over surging AI spending, while investors also digested a more hawkish tone from the U.S. Federal Reserve. Meta shares sank 11.3% for …

Wall Street indexes fall as Meta, Microsoft drag, along with Fed rate concerns Read More »

MILAN (Reuters) -Sports trading-card company Panini has picked Citi as a financial adviser to explore strategic options for the company, including a sale, two sources close to the matter told Reuters.  The Italian publisher, best known for its popular album stickers featuring soccer stars from top leagues and also for producing comics, has previously worked …

Soccer stickers maker Panini picks Citi as adviser to explore options, sources say Read More »

MILAN (Reuters) -Stellantis has set up a “war room” to address possible chip shortages stemming from issues at Dutch group Nexperia linked to the U.S.-China trade war, the automaker’s CEO said on Thursday. “We are monitoring day-by-day the chip situation from Nexperia,” Chief Executive Antonio Filosa told analysts in a call to discuss third quarter …

Stellantis has set up ‘war room’ to manage Nexperia chip crisis, CEO says Read More »

(Reuters) -Nvidia will invest up to $1 billion in AI company Poolside, in a deal that would quadruple the startup’s valuation, Bloomberg News reported on Thursday, citing people familiar with the matter. Poolside is in discussions to raise $2 billion at a pre-money $12 billion valuation, Bloomberg reported, adding that Nvidia’s investment in the round …

Nvidia to invest up to $1 billion in AI startup Poolside, Bloomberg News reports Read More »

ROME (Reuters) -The Italian Competition Authority (AGCM) said it had opened an investigation into the European subsidiary of the Chinese drone maker DJI and its Italian importer over allegations that they pressured retailers to fix the prices of their products. The AGCM has received reports that DJI, the world’s largest drone maker, and local importer …

Italy opens inquiry into alleged price fixing by Chinese drone maker DJI Read More »

By Susanna Twidale LONDON (Reuters) -Britain’s energy regulator Ofgem announced plans on Thursday to tackle 4.4 billion pounds ($6 billion) of debts built up by customers, which are driving up bills for millions of households. Unrecovered energy debt is spread across all consumer bills, adding 52 pounds, or around 3%, to the current price cap …

UK energy watchdog plans to tackle 4.4 billion pounds consumer debts Read More »

By Leo Marchandon (Reuters) -Universal Music Group on Thursday reported third-quarter revenue above market expectations with Taylor Swift’s new release boosting physical album sales. The world’s biggest music label, which also counts South Korean boy band BTS in its portfolio, said quarterly revenue grew 5% year-on-year to 3 billion euros ($3.5 billion), topping the 2.95 …

Universal Music Group tops revenue forecasts as Taylor Swift boosts sales Read More »

By Francesco Canepa and Balazs Koranyi FLORENCE, Italy (Reuters) -The European Central Bank kept interest rates unchanged at 2% for the third meeting in a row on Thursday and repeated that policy was in a “good place” as economic risks recede and the euro zone shows continued resilience in the face of uncertainty. The ECB …

ECB keeps rates unchanged as economy holds up for now Read More »