Reuters UK Business Archives - Page 2498 of 3179

Financials lift UK’s FTSE 100; U.S. debt ceiling negotiations eyed

22 May 2023 22 May 2023

By Johann M Cherian and Shashwat Chauhan (Reuters) -UK’s FTSE 100 rose on Monday, lifted by financial stocks, though lingering concerns over the U.S. debt ceiling impasse kept sentiment fragile while Dechra Pharmaceuticals slumped after issuing a profit warning. The blue-chip FTSE 100 rose 0.2%, gaining for the third straight session. British banks added 1.0% …

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Law firms Allen & Overy and Shearman & Sterling plan merger

22 May 2023 22 May 2023

(Reuters) -London-based law firm Allen & Overy and New York’s Shearman & Sterling plan to merge, they announced on Sunday, in a deal that would create one of the world’s largest legal practices with combined global revenue of approximately $3.4 billion. If approved by a vote of partners at both firms, the tie-up would be …

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Shell faces tense shareholder meeting as profits and climate collide

22 May 2023 22 May 2023

(This May 18 story has been corrected to show that MN, not PGGM, leads for Climate Action 100+ on TotalEnergies in paragraph 13) By Ron Bousso and Shadia Nasralla LONDON (Reuters) – Shell will likely face one of its most acrimonious annual meetings next week as it struggles to balance investor pressure to capture profits …

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Meta fined $1.3 billion over data transfers to US – WSJ

22 May 2023 22 May 2023

(Reuters) – Facebook owner Meta Platforms Inc has been fined $1.3 billion by European Union privacy regulators for sending user information to the United States, the Wall Street Journal reported on Monday. (Reporting by Shivani Tanna in Bengaluru; Editing by Saumyadeb Chakrabarty)

European stocks muted as US debt ceiling concerns linger

22 May 2023 22 May 2023

By Sruthi Shankar (Reuters) – European stocks were broadly flat on Monday, as concerns about a U.S. debt ceiling deal and the outlook for monetary policies in the United States and Europe weighed on sentiment after a strong run in several of the region’s markets recently. The pan-European STOXX 600 index edged up 0.04% after …

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Britain chips away at NatWest stake with $1.6 billion share sale

22 May 2023 22 May 2023

By Iain Withers and Amy-Jo Crowley LONDON (Reuters) -British state-backed bank NatWest has agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government, as it edges closer towards private ownership 15 years after it was bailed out in the global financial crisis. The deal will reduce the government’s stake …

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Credit Suisse staff prepare to sue Swiss regulator over lost AT1 bonuses-FT

22 May 2023 22 May 2023

(Reuters) -Credit Suisse AG staff are preparing to sue the Swiss financial regulator over $400 million of bonuses that were canceled after the troubled lender’s rescue by UBS Group AG, the Financial Times reported on Monday. Quinn Emanuel and Pallas, law firms which are already suing Swiss regulator Finma on behalf of investors who owned …

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Volvo wins record order for electric trucks from Holcim

22 May 2023 22 May 2023

STOCKHOLM (Reuters) -Volvo Group said on Monday its unit Volvo Trucks plans to sell 1,000 electric trucks to Swiss building solutions provider Holcim for delivery over the next seven years, the biggest order ever for Volvo electric trucks. “The deal is the largest commercial order to date for Volvo electric trucks,” said AB Volvo, which …

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UK’s Dechra slumps after profit warning

22 May 2023 22 May 2023

(Reuters) -Dechra Pharmaceuticals expects profit for the year to be below its prior forecast, amid a volatile environment and ongoing de-stocking by its wholesalers, the British veterinary pharmaceuticals maker said on Monday. Dechra, which is in talks with private equity group EQT for a possible 4.63 billion pounds ($5.84 billion) all-cash deal, fell 8.6% in …

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German economy shows resilience but lacks momentum – DIHK survey

22 May 2023 22 May 2023

BERLIN (Reuters) – The German economy is showing resilience in a challenging economic environment but growth will remain muted this year, the DIHK Chambers of Commerce and Industry said on Monday, keeping its forecast for GDP to stagnate in 2023. “Signs of a broad-based upswing continue to be missing,” said Ilja Nothnagel, a DIHK board …

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