MILAN (Reuters) -Shares in Tod’s rose as much as 5% on Thursday after the Italian luxury group’s first half operating profit more than tripled compared to the same period of last year, beating analysts expectations. Earnings before interest and taxes (EBIT) reached 60 million euros ($64.3 million) in the January-June period, led by growth in …
Tod’s shares rise after operating profit beat expectations Read More »
By Yadarisa Shabong (Reuters) -British aerospace supplier Melrose’s CEO and co-founder Simon Peckham will step down in March after more than 20 years and be replaced by Chief Operating Officer Peter Dilnot, it said on Thursday, paving way for new leadership as it changes course. The owner of GKN Aerospace, publishing its first set of …
CANBERRA (Reuters) – The first shipment of raw sugar from Australia to Britain under a new free trade agreement between the two countries has arrived in London, marking the reopening of a valuable market for Australian suppliers. The shipment carried 33,000 metric tons of sugar worth around $19 million at current prices, said Mark Hampson …
UK receives first tariff-free sugar shipment from Australia in 50 years Read More »
SAO PAULO (Reuters) -Nestle has agreed to acquire Brazilian chocolate brand Kopenhagen, local media reported on Wednesday, citing people familiar with the matter. Website Brazil Journal said Nestle will pay about 3 billion reais ($602.78 million) for the company, while local newspaper Valor Economico reported the figure at 4.5 billion reais ($904.18 million). The deal …
Nestle buys Brazil chocolate maker Kopenhagen -reports Read More »
By Supantha Mukherjee and Martin Coulter (Reuters) -The European Union has picked out 22 so-called “gatekeeper” services, run by six of the biggest tech companies in the world, to face new rules as part of its latest crackdown on Big Tech. The wide-ranging Digital Markets Act (DMA) will apply to services from Alphabet , Amazon, …
Big Tech’s core businesses face overhaul under EU tech rules Read More »
By Anna Koper WARSAW (Reuters) – Poland’s central bank cut its main interest rate by 75 basis points to 6.00% on Wednesday, in a shock decision ahead of October elections that sent the zloty currency tumbling against the euro. A narrow majority of analysts polled by Reuters had expected a 25-bps cut, but markets and …
Polish central bank stuns with 75 bps rate cut, zloty plunges Read More »
FRANKFURT (Reuters) – Speeding up the transition to a greener economy would be cheaper than delaying it for euro zone companies, households and the banks that serve them, a European Central Bank study showed on Wednesday. The ECB’s second “climate stress test” used data from 2.9 million companies and 600 banks in the euro area, …
Speeding up green transition would make it cheaper too – ECB Read More »
(Reuters) -Thyssenkrupp AG Chief Financial Officer Klaus Keysberg will step down from his role next year, the company said on Wednesday, marking the latest leadership change at the German industrial group. Keysberg’s contract runs until July 31, 2024, and he has decided not to seek an extension, the company said, adding that it has started …
Thyssenkrupp CFO Keysberg to step down next year Read More »
By Emma Pinedo and Belén Carreño MADRID (Reuters) -Spain is analysing Saudi Arabian group STC’s purchase of a 9.9% stake in Telefonica , signalling a potential hurdle to the move, in order to ensure that its strategic interests are upheld. STC had contacted the Spanish government on Tuesday to inform it of the deal, which …
Spain scrutinising Saudi firm’s stake in ‘strategic’ Telefonica Read More »
By Chiara Elisei LONDON (Reuters) – A committee that reviews disputes in the credit default swaps (CDS) market on Wednesday ruled that a failure to pay credit event occurred regarding retailer Casino Guichard-Perrachon, paving the way for a payout to investors holding the swaps. The French company is undergoing a restructuring process via court conciliation, …
France’s Casino CDS holders gear up for payout as committee declares credit event Read More »
