Reuters UK Business

By Eva Mathews (Reuters) -WH Smith is betting on new store openings in North America and the ongoing travel recovery in Asia and Europe to lift growth in the coming year, the British airport retailer’s top boss said on Thursday. Leisure and business travel have rebounded since pandemic restrictions ended, boosting sales at transit locations. …

WH Smith bets on North America, travel recovery to boost growth Read More »

LUXEMBOURG (Reuters) – An adviser to Europe’s top court on Thursday said judges should back a 13-billion-euro ($14 billion) tax order issued by EU competition regulators to Apple seven years ago. The European Commission in its 2016 decision said the amount related to Irish back taxes which the iPhone maker should pay. A lower tribunal …

EU court adviser backs EU’s $14 billion tax order to Apple Read More »

(Reuters) – European budget carrier Wizz Air on Thursday narrowed its annual profit forecast below analyst expectations, citing continuing macroeconomic uncertainty and difficult operating conditions, sending its share price down 6.3%. European airlines have reported strong results this quarter but have warned of a murky outlook as jet fuel prices, supply chain issues and a …

Wizz Air narrows profit forecast on difficult operating conditions Read More »

By Aby Jose Koilparambil (Reuters) -UK homebuilder Taylor Wimpey on Thursday forecast annual operating profit would come in at the top end of its expected range, but also flagged “significant market uncertainty” as high mortgage rates dent demand. FTSE 100-listed Taylor Wimpey’s trading update echoed peer Persimmon’s, which marginally lifted its annual home-build targets on …

British homebuilder Taylor Wimpey flags market uncertainty Read More »

By Maggie Fick and Eva Mathews LONDON (Reuters) -AstraZeneca raised its annual earnings forecast on Thursday, helped by strong demand for its cancer drugs, and moved to boost its pipeline in the booming anti-obesity market with a deal costing up to $2 billion. The Anglo-Swedish company reported third-quarter profit and revenue just ahead of analyst …

AstraZeneca ups profit outlook and boosts anti-obesity pipeline Read More »

By James Davey LONDON (Reuters) -British discount chain B&M reported a 16.1% increase in first-half core earnings and raised its full-year guidance, even as it was less upbeat about Christmas trading than other major UK retailers with its sales growth slowing in its current quarter. Shares in the group, which sells everything from toys to …

UK discount retailer B&M raises profit outlook but sales growth slows Read More »

FRANKFURT (Reuters) -The European subsidiary of VTB , Russia’s second-largest bank, is changing its name after its parent refused to allow it to operate under the brand, an executive told Reuters. Frankfurt-based VTB Bank (Europe) SE, already ring-fenced by regulators due to sanctions and in liquidation since last year, will from now on be known …

Russia’s VTB in Europe changes name as it liquidates Read More »

By Yoruk Bahceli and Noele Illien ZURICH (Reuters) -UBS said it raised $3.5 billion on Wednesday from its first Additional Tier 1 (AT1) bond sale since taking over Credit Suisse, seeing strong demand in a further sign of confidence returning after the rescue rocked the risky bank debt market. The merger engineered by the Swiss …

UBS marks new chapter for AT1 bonds with first since Credit Suisse deal Read More »

By Vera Eckert and Elke Ahlswede FRANKFURT (Reuters) – German container shipper Hapag-Lloyd on Thursday posted a net profit of 3.2 billion euros ($3.43 billion) for the first nine months of 2023, down by 77% from a year earlier, and cut its forecasts for full-year earnings. Net profit was down from 13.8 billion euros in …

Hapag-Lloyd posts 77% drop in 9-month net profit, cuts outlook Read More »