FRANKFURT/DUESSELDORF (Reuters) -The head of Thyssenkrupp’s steel business, Dennis Grimm, has decided to leave the division, two people familiar with the matter said on Tuesday, robbing the unit of its leader as talks over a sale to India’s Jindal Steel International continue. Grimm has been the spokesperson for Thyssenkrupp Steel Europe’s (TKSE) executive board, or …
By Mathieu Rosemain PARIS (Reuters) -The European Union is likely to postpone new capital requirements for banks’ trading operations for about three years, BNP Paribas Chief Executive Jean-Laurent Bonnafe told analysts on Tuesday. The European Union is set to delay the new rules – called the Fundamental Review of the Trading Book – as it …
BNP Paribas CEO says EU likely to delay trading book capital rules Read More »
By Holger Hansen BERLIN (Reuters) -The U.S. government has provided written assurances that the German business of Russia’s Rosneft would be exempt from new energy sanctions because the assets are no longer under Russian control, Germany’s economy minister said. Katherina Reiche said the United States issued a “Letter of Comfort” early on Tuesday, acknowledging that …
Exclusive-US excludes Rosneft Germany from Russia sanctions, German minister says Read More »
By Tommy Reggiori Wilkes (Reuters) -Fears of a risky bubble emerging in the private credit market are overblown, but there are signs of lending standards weakening in the market for lending to large companies, executives from the industry said on Tuesday. “The risk is when you have too much leverage and not enough liquidity you …
Private lending to big companies showing signs of froth, executives say Read More »
PARIS (Reuters) -BNP Paribas would be open to developing an asset management partnership with Italy’s UniCredit if the Italian lender ends its distribution agreement with Amundi in mid-2027, Chief Executive Jean-Laurent Bonnafe said on Tuesday. “Of course, we’re open to any kind of partnership with any kind of platforms, commercial banks, private banks… that would …
BNP Paribas open to partnership with UniCredit on asset management products, CEO says Read More »
By Emma Rumney LONDON -British American Tobacco said it has paused a pilot plan to launch an unlicensed disposable vape in the U.S., as the Food and Drug Administration moves to crack down on unregulated products and speed up licences. BAT’s previously unreported reversal reveals the complex battle big tobacco faces to compete with a …
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(Reuters) -German machine and car parts maker Schaeffler on Tuesday raised its full-year adjusted free cash flow guidance, citing higher profitability, strict cost controls and a cautious investment policy. The company now expects adjusted free cash flow in 2025 to be between 0-200 million euros ($0-$233.24 million) compared with the range of -200 to 0 million euros …
Schaeffler raises full-year free cash flow guidance Read More »
By Max A. Cherney SAN FRANCISCO (Reuters) -Substrate, a small U.S. startup, said on Tuesday that it had developed a chipmaking tool capable of competing with the most advanced lithography equipment made by Dutch firm ASML. Substrate’s tool is the first step in the startup’s ambitious plan to build a U.S.-based contract chip-manufacturing business that …
US startup Substrate announces chipmaking tool that it says will rival ASML Read More »
By Gianluca Lo Nostro, Jakob Van Calster and Alexander Hübner (Reuters) -French media group Banijay will buy a majority stake in betting firm Tipico from private equity group CVC, it said on Tuesday, in a move that will create one of Europe’s biggest online gaming operators. Banijay, whose shareholders include the Arnault family and Vivendi, …
(Corrects the name of EU mechanism to SAFE from SAVE in paragraph 3) SOFIA (Reuters) -Bulgaria and European defence giant Rheinmetall on Tuesday sealed a deal worth more than 1 billion euros ($1.2 billion) to build a plant that will produce gunpowder and 155-mm artillery shells. Officials said the project was important for Bulgaria and …
Bulgaria, Rheinmetall seal 1 billion euro deal to produce gunpowder and ammunition Read More »
