Reuters UK Business

ZURICH (Reuters) -Switzerland-based Clariant AG said on Monday it would acquire Canada’s Lucas Meyer Cosmetics from International Flavors & Fragrances in an all-cash deal for $810 million. “By combining our personal care ingredients portfolio with Lucas Meyer Cosmetics, Clariant will become a leader in the high value cosmetic ingredients space, one of the most attractive, …

Clariant to buy Canada’s Lucas Meyer Cosmetics for $810 million Read More »

LONDON (Reuters) -Commodity trader and miner Glencore on Monday cut its nickel production guidance for this year due to maintenance and strikes but reiterated its expectation that profits from its trading division would be $3.5-$4.0 billion, above its long-term guidance range. Glencore maintained its overall 2023 guidance for copper, zinc, coal and cobalt output. Its …

Glencore cuts 2023 nickel production guidance Read More »

FRANKFURT (Reuters) – Shares in Siemens Energy soared in early trade on Monday, extending their recovery as close talks with Berlin over around 15 billion euros ($15.8 billion) in project-related guarantees continued over the weekend. Shares in the maker of equipment for the power industry were up around 10% at 0815 GMT, while Siemens, which …

Siemens Energy shares recover further as guarantee talks continue Read More »

By Giulio Piovaccari and Giselda Vagnoni CREVALCORE, Italy (Reuters) – Around 230 workers in Italy’s “Motor Valley” have begun striking over the planned closure of their auto parts factory, an early casualty of the European Union’s transition towards electric vehicles. Marelli, owned by U.S. fund KKR, wants to shut the plant in the Emilia Romagna …

Marelli plant closure forewarns painful electric vehicle transition Read More »

(Reuters) – Talks between the German government and Siemens Energy to strike a deal over around 15 billion euros ($15.9 billion) in guarantees for the power equipment firm continued over the weekend, according to two people familiar with the matter. Shares in the company, which was spun off from former parent Siemens in 2020, fell …

Explainer-Why is Siemens Energy seeking $16 billion state guarantees? Read More »

By Akanksha Khushi (Reuters) – Private equity investor Aurelius Group is in talks to buy beauty products chain The Body Shop, which has been put up for sale by its Brazilian owner Natura & Co, a source familiar with the talks told Reuters. If completed, the deal is expected to value The Body Shop at …

Aurelius in talks to buy The Body Shop- source Read More »

(Reuters) – Chrysler-parent Stellantis and the United Auto Workers (UAW) union have reached a tentative agreement on a new labor contract, UAW said on Saturday, more than 40 days after the union began striking against the Detroit Three automakers. (Reporting by David Shepardson in Washington)

GENEVA (Reuters) – The Swiss National Bank may need to tighten its monetary policy further depending on how inflation develops in the country, Vice-Chairman Martin Schlegel said in an interview published on Saturday in Swiss newspaper SonntagsBlick. SNB last month held its policy interest rate unchanged at 1.75%, noting that inflation – at 1.6% in …

SNB vice-chairman says further rate hikes may be needed Read More »