By Oliver Hirt and Tomasz Janowski ZURICH (Reuters) – UBS Group said on Tuesday that Credit Suisse CEO Ulrich Koerner will stay on after the takeover of its Swiss rival as part of a new leadership team of the combined group. Announcing its leadership reshuffle, UBS also promoted Todd Tuckner, now finance chief of its …
UBS replaces CFO and keeps Credit Suisse’s Koerner in top team Read More »
BERLIN (Reuters) -Daimler Truck reported on Tuesday a rise in first-quarter return on sales but maintained its 2023 outlook due to instability in the supply chain for semiconductors which it said was partly due to cyber attacks at its suppliers. The automaker itself had not been attacked, Chief Financial Officer Jochen Goetz said on a …
Daimler Truck holds 2023 outlook on supply chain disruptions Read More »
(Reuters) -Britain’s Marshalls plc, a landscaping, building and roofing products supplier, said on Tuesday it expects to miss its full-year outlook due to a drop in new house building and home renovations, sending its shares down as much as 16.4%. The company, which reported a 14% contraction in its revenue for the January-April period on …
UK’s Marshalls flags weaker outlook after drop in new house building Read More »
MILAN (Reuters) – Iveco Group will buy full ownership of its joint venture with U.S. start-up Nikola Corp which develops battery electric and fuel cell heavy-duty trucks, the Italian truck maker said on Tuesday. With the move, Iveco will cut ties with the troubled Nikola, after forming the joint venture in 2019 to help the …
Iveco to fully own venture with Nikola on electric, hydrogen trucks Read More »
By Jagoda Darlak (Reuters) -Finnish stainless steel maker Outokumpu on Tuesday beat expectations for first-quarter sales and earnings, sending its shares up nearly 10%, boosted by strong performance across the board even as volumes weakened from a year earlier. The company’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell 42% to 204 million …
Steelmaker Outokumpu tops Q1 forecasts, sees Q2 at similar level Read More »
STOCKHOLM (Reuters) -Sweden will struggle to hit its 2030 emissions targets, a government agency warned on Monday, after the country’s minority coalition cut the biofuel that must be added to diesel and gasoline. The right-wing Sweden Democrats-backed coalition government has already cut fuel taxes, raised tax breaks for people driving to work and ended new …
Agency warns Sweden may miss CO2 targets with biofuel cut Read More »
By Huw Jones LONDON (Reuters) – Banks, insurers and asset managers in the European Union would only be allowed to sell funds and other products across the bloc if they could prove to regulators they offer value for money, draft proposals seen by Reuters showed. The EU’s executive European Commission is due to publish legislative …
EU plans tough ‘value for money’ rules for investment products – draft document Read More »
By Amruta Khandekar (Reuters) -European shares fell on Tuesday after a string of downbeat corporate updates soured sentiment, which has been tested in the days leading up to crucial U.S. economic data that would shed more light on the Federal Reserve’s monetary policy plans. The pan-European STOXX 600 index was down 0.4%, as of 8:17 …
European shares fall as downbeat earnings, SBB weigh Read More »
By Jakub Olesiuk and Matteo Allievi (Reuters) -A global recovery in air traffic helped Spanish travel booking group Amadeus post a near 200% jump in first-quarter adjusted net profit on Tuesday to beat analysts’ estimates, though profits were still below pre-pandemic levels. Adjusted net profit for the three months came in at 273.1 million euros …
Spain’s Amadeus beats expectations as Asia-Pacific leads recovery in air traffic Read More »
By Howard Schneider and Ann Saphir (Reuters) -Credit conditions for U.S. business and households continued tightening in the first months of the year, according to a Federal Reserve survey of bank loan officers, but the results seemed to mark the accumulating impact of Fed monetary tightening rather than the cliff-like decline in credit some feared …
Banks tighten credit terms, see loan demand drop, Fed survey shows Read More »
