By Julia Payne BRUSSELS (Reuters) – Global energy trader Vitol paid out $2.5 billion to its employee shareholders in 2023 after posting a record profit of $15 billion last year, company results showed, bringing the total paid out to a third of its profits in the last year. Swiss firm Vitol pays out cash to …
Energy trader Vitol pays out $5 billion to shareholders in 2022-2023 Read More »
LONDON (Reuters) -Britain’s biggest private pension scheme on Friday fought off a landmark lawsuit in a London court over its alleged failure to devise a credible plan to divest from fossil fuels. The 82 billion-pound ($103 billion) Universities Superannuation Scheme (USS) faced legal action from two of its members over its continuing investments in coal, …
UK pension fund USS wins appeal over fossil fuel investments Read More »
LONDON (Reuters) -Guy Hands, one of Britain’s highest profile financiers, has stepped down as chairman of Terra Firma Capital Partners, the private equity firm he founded, after more than two decades in the role. Hands built up a reputation as a well-known and outspoken dealmaker in the private equity world, who was behind deals including …
Terra Firma founder Guy Hands steps down from company’s helm Read More »
By Amruta Khandekar and Shreyashi Sanyal (Reuters) -European shares rose on Friday to end the week higher, while German stocks lagged as SAP’s bleak revenue forecast weighed on the tech sector, which also recorded its biggest weekly drop this year. SAP fell 4.2% after the business software maker trimmed its full-year outlook for key cloud …
European shares end second week higher; tech records worst week of the year Read More »
By Shashwat Chauhan (Reuters) -British stocks were mixed at the close on Friday but the main benchmarks clocked their best weekly performance in more than seven months as easing inflation offset concerns about aggressive interest rate hikes by the Bank of England. The blue-chip FTSE 100 closed 0.2% higher, boosted by oil and gas giants. …
UK stocks mixed but log strong weekly gains on ebbing inflation Read More »
STOCKHOLM (Reuters) – Ericsson is investigating reports Baghdad has suspended employees’ work permits in Iraq and the potential implications for customers and staff in the country, the Swedish telecom gear company said on Friday. On Thursday, Iraq expelled the Swedish ambassador in protest at a planned burning of the Koran in Stockholm that prompted protesters …
Ericsson investigates reports of Iraq revoking work permits Read More »
By Nell Mackenzie LONDON (Reuters) – The European Union said on Thursday it has reached a deal on revising its rules for managers of hedge funds and other alternative investments, easing industry fears of a post-Brexit crackdown on managers in London. Representatives of EU states and the European Parliament reached the deal overnight to update …
European Union agrees post-Brexit rules for hedge funds Read More »
By David Milliken LONDON (Reuters) -British retail sales grew faster than expected in June despite continued high inflation, thanks to unusually hot weather and a rebound in food sales after King Charles’ coronation disrupted spending in May, official figures showed on Friday. While inflation at nearly 8% – the highest of any large economy – …
UK consumers defy high inflation and shop more in June Read More »
By Gwladys Fouche OSLO (Reuters) -Aluminium producer Hydro raised its guidance for capital expenditure this year and said global demand for aluminium demand was weakening, pressuring its shares, as it reported a drop in quarterly earnings in line with forecasts. Hydro guided for capital expenditure of 20.5 billion crowns ($2.04 billion) this year, up from …
Aluminium maker Hydro ups capex, offers downbeat outlook, shares drop Read More »
By Pratima Desai and Polina Devitt LONDON (Reuters) -The London Metal Exchange should reconsider a decision not to ban Russian aluminium from its warehouse network as large volumes are jeopardising the benchmark status of its aluminium contract, producer Norsk Hydro said in a letter this week. Russian aluminium amounted to 80% of available aluminium inventories …
Norsk Hydro says Russian metal threatens benchmark status of LME aluminium Read More »
