By Eva Mathews (Reuters) -Imperial Brands is betting on higher cigarette prices and strong demand for tobacco alternatives over the next six months, after a rise in first-half profit at the maker of Winston cigarettes and Backwoods cigars. After years of slow growth and market share losses, Imperial outlined a turnaround plan in 2021 focusing …
Imperial bets on price hikes, tobacco alternatives for growth Read More »
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Australian fund Macquarie is raising legal hurdles over a plan backed by Italy’s Treasury for state lender CDP to join forces with U.S. fund KKR to buy Telecom Italia’s (TIM) landline grid, three sources said. TIM <TLIT.MI> directors have set a final deadline of June 9 for …
Macquarie raises hurdles to CDP joining KKR bid for Telecom Italia grid Read More »
BRUSSELS (Reuters) – Gas suppliers have made offers to supply more than 13.4 billion cubic metres of gas in the EU’s joint gas buying scheme, European Commission Vice-President Maros Sefcovic said on Tuesday. The volume offered would more than cover the 11.6 bcm of gas that European Union companies have requested in the bloc’s first …
EU joint gas purchases demand more than matched by supply offers Read More »
AMSTERDAM (Reuters) -Dutch medical devices maker Philips said on Tuesday that independent tests have shown that the use of its respiratory devices involved in a major global recall did not cause health risks for patients. Philips said “rigorous testing” by external parties on the range of DreamStation machines used to treat sleep apnoea showed positive …
Tests clear recalled Philips sleep apnoea machines of health risks -company Read More »
By Sruthi Shankar (Reuters) -European shares were largely steady on Tuesday with technology stocks offsetting declines in automakers, while investors awaited more data on the euro zone economy to gauge how far the European Central Bank will keep hiking interest rates. The pan-European STOXX 600 index was flat after opening marginally lower. Technology stocks rose …
European shares steady as tech offsets autos slide Read More »
(Reuters) -British electric vehicle start-up Arrival SA said on Monday it had $130 million in cash and cash equivalents at the end of March, down nearly 37% from the end of December. The company, which did not provide any details on first-quarter results in its earnings release, said it has built three vans at its …
EV startup Arrival’s cash and equivalents slump at end of first quarter Read More »
By David Randall NEW YORK (Reuters) – Prominent hedge funds including Arrowstreet Capital LLC, D1 Capital Partners and Coatue Management LLC were among the investors that bought shares of Meta Platforms Inc in the first quarter of the year, amid an eye-popping rebound in the Facebook-parent’s stock. Meta Platforms, which suffered the worst decline among …
Arrowstreet, Coatue Management among big hedge funds buying Meta in first quarter Read More »
(Reuters) -Billionaire investor William Ackman has built in the first quarter a new stake in Alphabet worth $1.1 billion, according to a regulatory filing on Monday. According to the filing, Ackman’s hedge fund Pershing Square Capital Management owned 8.1 million class C shares and 2.2 million shares class A of Alphabet at the end …
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Automaker Stellantis has stopped construction at a more-than C$5 billion ($3.7 billion) electric-vehicle battery plant in Canada amid talks with the federal and provincial governments about their support for the factory. “Effective immediately, all construction related to the battery module production on the Windsor site has stopped,” the …
Stellantis blocks battery plant construction as more support sought Read More »
By Milana Vinn and Anirban Sen NEW YORK (Reuters) – At least seven top Barclays Plc bankers have resigned to join to UBS Group AG in the United States in the last few days, people familiar with the matter said. The moves add to a trio of Barclays investment bankers that UBS announced internally it …
Exclusive-Top Barclays M&A bankers decamp for UBS-sources Read More »
