Reuters UK Business

LONDON (Reuters) – Britain has placed an extra 20 million pound ($24.58 million)order for small arms munitions with BAE Systems, adding to its existing much bigger contract, the government and defence company said in a statement on Tuesday. The orders will create more than 200 new jobs, the government said. ($1 = 0.8138 pounds) (Reporting …

UK places extra 20 million stg munitions order with BAE Read More »

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Core profit at Germany’s biggest utility RWE jumped 82% in the first nine months, thanks to its commodity trading business and improved margins for its gas-fired power plants, the group said on Tuesday. Shares climbed 1.9% in morning trading and were among the top gainers in …

German utility RWE’s nine-month core profit nearly doubles, shares rise Read More »

By Eva Mathews and Emma Rumney (Reuters) -Imperial Brands forecast revenue and profit growth next year, but said on Tuesday it would be slower in the first half due to this year’s price rises and investments in tobacco alternatives. The maker of Winston cigarettes reported a 3.9% rise in adjusted operating profit for the 12 …

Imperial forecasts 2024 profit growth, raises dividend Read More »

PARIS (Reuters) – The French government confirmed on Tuesday it had reached a deal on future nuclear power prices with utility EDF, striking a compromise which the finance minister said would allow EDF to make profits while shielding consumers from spikes in energy prices. The two sides agreed on 70 euros per megawatt hour (MWH) …

France, EDF strike compromise deal on electricity prices Read More »

(Reuters) – Germany’s chemical industry body VCI sees no turnaround for the sector by the end of this year despite a slight production uptake in the third quarter, the association said on Tuesday. “The German chemical industry is treading water and hopes of an improvement by the end of the year are fading,” Markus Steilemann, …

German chemicals lobby sees no turnaround for sector by year’s end Read More »

By Victor Goury-Laffont (Reuters) -French telecoms provider Iliad reported a 5.1% rise in nine-month core profit on Tuesday, boosted by strong subscription growth in France and Italy. The results reflect a trend among its main French rivals, with Orange, Bouygues Telecom and SFR all reporting slight profit growth year-on-year. Iliad’s earnings before interest, taxes, depreciation …

Telecom group Iliad’s core profit rises on strong France and Italy sales Read More »

By Clara Denina LONDON (Reuters) -Glencore sealed a deal for a 77% stake in Canadian miner Teck Resources’ steelmaking coal business for $6.93 billion in cash, the companies said on Tuesday, paving the way for a spin-off of the commodity giant’s own coal business. Teck will also sell 20% of the business to Japan’s Nippon …

Glencore to buy majority stake in Teck coal assets for $6.93 billion Read More »

By Natalie Grover and Alex Lawler LONDON (Reuters) – The International Energy Agency (IEA) on Tuesday raised its oil demand growth forecasts for this year and next despite an expected deceleration in economic growth in nearly all major economies. Oil demand has been supported this year by resilient U.S. deliveries and record September demand from …

IEA raises oil demand growth forecasts despite economic gloom Read More »

By William Schomberg and David Milliken LONDON (Reuters) -Wages in Britain grew slightly less fast in the three months to September after rising at a record pace previously, according to official data that will leave the Bank of England on alert for inflation pressures. Earnings excluding bonuses were 7.7% higher than a year earlier in …

UK wage growth cools slightly but stays near record Read More »