Reuters UK Business

By William Schomberg LONDON (Reuters) -Britain borrowed less than expected in the first three months of the financial year data showed on Friday, but finance minister Jeremy Hunt ruled out a rush to cut taxes to help the fortunes of his flagging Conservative Party before the next election. Although borrowing remains high after the shocks …

UK borrows less than thought but Hunt pledges budget discipline Read More »

By Bartosz Dabrowski (Reuters) – Swiss contract drug manufacturer Lonza cut its full-year outlook on Friday, citing slower than expected growth, driven by lower demand for its biotech ingredients. It noted a decrease in customer demand for nutraceutical capsules and lower biotech funding, which impacted early-stage demand. With rising interest rates in Lonza’s key markets …

Lonza cuts 2023 outlook on slower growth, lower customer demand Read More »

ISTANBUL (Reuters) – Turkey’s conglomerate Ronesans Holding Chairman Erman Ilicak said on Friday that France’s TotalEnergies had acquired a 50% stake in its subsidiary Ronesans Enerji. The company did not provide further details on the price of the acquisition. (Reporting by Can Sezer; Writing by Ezgi Erkoyun; Editing by Daren Butler)

LONDON (Reuters) -French aerospace group Safran said on Friday it had made a cash offer to buy the actuation and flight control business of Collins Aerospace in a deal valuing it at $1.8 billion to become a leader in certain critical cockpit functions. Safran said the purchase would have an accretive impact on earnings per …

Safran makes offer for Collins Aerospace’s flight control systems business Read More »

By Joseph White and Ben Klayman DETROIT (Reuters) – Detroit’s automakers and the United Auto Workers will not be alone as they begin bargaining this week over wages and working conditions that will govern the shift to electric vehicles over the next several years. Tesla CEO Elon Musk and the automaker’s increasingly profitable and efficient …

Analysis-Elon Musk and Tesla loom over Detroit’s auto labor talks Read More »

By William James and Iain Withers LONDON (Reuters) -Banks in Britain will be forced to explain and delay any decision to close an account under new rules announced by the finance ministry on Thursday. The government has been looking into concerns that banks are blacklisting certain customers over their political views, after individuals including leading …

UK tightens rules for bank account closures after blacklisting complaints Read More »