Reuters UK Business Archives - Page 2269 of 3179

Renault’s Ampere ambitions tested by choppy IPO, slow EV markets -sources

31 Oct 2023 31 Oct 2023

By Mathieu Rosemain, Silvia Aloisi and Pablo Mayo Cerqueiro PARIS/LONDON (Reuters) – Weaker electric vehicle (EV) demand, increased competition from China and market volatility are complicating French carmaker Renault’s plans to list its EV business Ampere, four people familiar with the matter told Reuters. Renault aims to extract more value from Ampere through an initial …

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UK’s Virgin Media O2 sells $437 million mobile-towers stake to GLIL

31 Oct 2023 31 Oct 2023

By Paul Sandle LONDON (Reuters) -Britain’s Virgin Media O2 on Tuesday said it had sold a 16.67% stake in its mobile towers joint venture Cornerstone to GLIL Infrastructure, a partnership of UK pension funds, for about 360 million pounds ($437 million) in cash. VM O2, jointly owned by Telefonica and Liberty Global, said the value …

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GSK to pay $1 billion for exclusive license to J&J’s hepatitis B therapy

31 Oct 2023 31 Oct 2023

(Reuters) -GSK will pay about $1 billion for exclusive rights to further develop and commercialize Johnson & Johnson’s hepatitis B therapy, the British drugmaker said on Tuesday. JNJ-3989 was initially developed by Arrowhead Pharmaceuticals and licensed to Johnson & Johnson-owned Janssen in 2018. Exclusive rights to the therapy will fuel the expansion of GSK’s own …

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Valeo announces sale of Russian thermal systems business to NPK Avtopribor

31 Oct 2023 31 Oct 2023

(Reuters) – French car parts maker Valeo said on Tuesday it had signed an agreement to sell its thermal systems production assets in Russia to NPK Avtopribor for an undisclosed sum. Valeo said in a statement the sale would not incur any capital gain or loss and the transaction’s completion was subject to regulatory approvals. …

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Italy wants more public debt in domestic hands -economy minister

31 Oct 2023 31 Oct 2023

By Giuseppe Fonte ROME (Reuters) -Italy wants domestic investors to hold an increasing amount of the government’s debt, Economy Minister Giancarlo Giorgetti said on Tuesday, as Rome seeks to limit the impact of future global crises on the country. The sustainability of Italy’s huge public debt, already euro zone’s second-largest after Greece in relation to …

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FTSE 100 ends October on glum note; BP drops on sluggish earnings

31 Oct 2023 31 Oct 2023

By Khushi Singh and Siddarth S (Reuters) -Britain’s FTSE 100 ended October on a gloomy note on Tuesday dragged down by commodity-linked stocks with oil giant BP leading declines after it reported lower than expected quarterly earnings. The commodity-focused FTSE 100 slipped 0.1% and ended 3.8% lower for the month, marking its worst monthly performance …

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European shares gain on earnings relief, but still log worst month in a year

31 Oct 2023 31 Oct 2023

By Ankika Biswas and Bansari Mayur Kamdar (Reuters) -European shares climbed on Tuesday, with investors drawing comfort from a slew of corporate earnings beat, but the benchmark index still ended October sharply lower on concerns about economic growth and interest rates staying higher for longer. The pan-European STOXX 600 closed 0.6% higher, but still posted …

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BP shares slump as Q3 profit misses forecast on weak gas

31 Oct 2023 31 Oct 2023

By Ron Bousso and Shadia Nasralla LONDON (Reuters) – BP on Tuesday reported third-quarter earnings of $3.3 billion, missing analysts’ forecasts due to weak gas trading results while the firm wrote down a large chunk of a U.S. offshore wind project. BP shares were 4.3% lower by 1325 GMT after the results fell well short …

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BP assessing New York wind projects after $540 million writedown, CEO says

31 Oct 2023 31 Oct 2023

LONDON (Reuters) -BP remains committed to its offshore wind growth plans after the energy company booked a $540 million impairment on two U.S. projects, CEO Murray Auchincloss told Reuters on Tuesday. BP and its partner Equinor are assessing their next steps after the state of New York rejected the companies’ request to revise upwards power …

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Three in 10 Britons to spend less in festive period – Deloitte

31 Oct 2023 31 Oct 2023

LONDON (Reuters) – Almost three in 10 UK consumers plan to spend less in the festive period this year than last year, reflecting the impact of the ongoing cost-of-living crisis, according to survey data published by Deloitte on Tuesday. However, it said its data did show a seven percentage-point rise in the number of UK …

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