By Dawn Chmielewski (Reuters) – Universal Music Group NV, the world’s largest record label, said quarterly revenue from music streaming surpassed 1 billion euros ($1.06 billion) for the first time in the fourth quarter, a milestone that underscores its continued importance to the music business. Even as Universal Music’s chairman and CEO Lucian Grainge lauded …
Universal Music Group CEO calls for new streaming model Read More »
By Chiara Elisei and Pablo Mayo Cerqueiro LONDON (Reuters) – A group of large creditors to Keter has tapped advisers as a deadline for the plastic furniture maker to repay 1.2 billion euros ($1.3 billion) of debt fast approaches, sources with knowledge of the situation told Reuters. The creditors are working with financial adviser Houlihan …
Keter creditors tap advisers as window to refinance $1.3 billion debt narrows – sources Read More »
By Alexandra Schwarz-Goerlich VIENNA (Reuters) – Austria’s finance ministry on Thursday played down concerns about U.S. sanctions officials scrutinising Raiffeisen Bank International over its Russia business. Raiffeisen shares fell sharply last month after the company received a request for information from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to “clarify payments business …
Austria plays down concerns over U.S. scrutiny of RBI over Russia business Read More »
By Radhika Anilkumar (Reuters) -National Express annual revenue surpassed pre-pandemic levels for the first time and its UK business turned a profit last year as people travelled by coach during rail strikes, it said on Thursday. But the London-listed company’s upbeat results were marred by news it too faced industrial action as more than 3,000 …
UK’s National Express faces strike after profits rebound Read More »
LONDON (Reuters) -U.S. bank Citi on Thursday announced targets for cutting emissions tied to loans it makes to coal mining, auto, steel and real estate clients by the end of this decade, in its latest update to its plan to reach net-zero emissions by 2050. Banks globally are laying out plans for reducing emissions for …
Citi pledges to cut emissions for more sectors including coal Read More »
By Huw Jones LONDON (Reuters) – London Stock Exchange Group announced plans to buy back more of its shares on Thursday as it raised its income growth outlook and highlighted its successful integration of Refinitiv, saying this had supercharged its ability to generate cash. LSEG said it would seek shareholder consent to buy more of …
LSE Group targets Blackstone/Thomson Reuters stake buyback as raises outlook Read More »
By Bartosz Dabrowski and Andrey Sychev (Reuters) -German chemicals maker Covestro said on Thursday it expected lower core profit and lower free cash flow in 2023 as economic challenges persist, after a global “polycrisis” caused a sharp rise in energy and raw material prices last year. Covestro’s shares were down around 4% at 0910 GMT …
Covestro sees lower 2023 profit, cash flow as macro challenges prevail Read More »
By Nell Mackenzie LONDON (Reuters) -The global hedge fund industry trade body, the Managed Funds Association (MFA), on Thursday suggested in a letter to Britain’s HM Treasury that it should dispense with how firms must disclose their short positions to the public. Britain is currently reviewing its short selling regulations. The MFA letter, shared with …
Hedge fund lobby group asks UK to keep short position disclosures to regulator Read More »
By Foo Yun Chee BRUSSELS (Reuters) – The metaverse, shared virtual worlds accessible via the Internet, is the next digital market to attract regulatory scrutiny, EU antitrust chief Margrethe Vestager said on Thursday. The metaverse has come into sharper focus since Facebook changed its name to Meta Platforms two years ago to reflect its bet …
EU’s Vestager says scrutiny of competition in metaverse already needed Read More »
By Natalie Grover and Maggie Fick LONDON (Reuters) -Haleon, the world’s biggest standalone consumer health business with brands such as Sensodyne toothpaste and Advil painkillers, reported its first full-year results on Thursday which analysts said were in line with expectations. Shares in London-listed Haleon, which was created last July when British drugmaker GSK spun off …
GSK spinoff Haleon delivers on first full-year forecasts Read More »
