Reuters UK Business

By Jessica DiNapoli and Richa Naidu BOCA RATON, Florida/LONDON(Reuters) – Major consumer companies including Kraft Heinz Co and Conagra Brands Inc are culling product lines to combat sky-high costs and falling consumer demand, their executives said this week. Many companies started slimming their offerings during the pandemic and are aggressively renewing those efforts, eliminating less-popular …

Food makers, feeling squeezed, pull the plug on slow-selling products Read More »

WASHINGTON (Reuters) -The World Bank on Friday announced $2.5 billion in additional grant financing from the U.S. Agency for International Development (USAID )to support Ukraine’s budget and maintain essential services. The latest financing under the World Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine(PEACE) project lifts the total to $20.6 billion and will support …

World Bank announces $2.5 billion in additional Ukraine aid Read More »

LONDON (Reuters) – Aluminium prices on the London Metal Exchange shrugged off a decision by the United States to impose steep tariffs on Russian metal on Friday, though traders said prices would have jumped if the U.S. had imposed sanctions instead. One year on from Russia’s invasion of Ukraine, the United States said it would …

Aluminium prices shrug off 200% U.S. import tariffs for Russia Read More »

MILAN (Reuters) – Telecom Italia (TIM) said on Friday it would provide KKR with financial data that could help the U.S. fund improve its offer for TIM’s network grid, as the current proposal “does not wholly reflect the value of the asset”. After a board meeting, TIM said its objective was to facilitate a better …

TIM seeks improved KKR bid for network by end of March Read More »

PARIS (Reuters) – A new investment fund with 87.5 million euros ($92.63 million) will finance solar power production across Africa, with a focus on West and Central Africa, French fund manager RGREEN INVEST and investment adviser ECHOSYS INVEST said on Friday. The AFRIGREEEN Debt Impact Fund’s first closing will finance on- and off-grid solar power …

New French fund with 87.5 million euros targets African solar development Read More »

BERLIN (Reuters) – German carmaker Audi is planning an electric car factory in the United States to take advantage of the subsidies offered through the Inflation Reduction Act (IRA), Chief Executive Markus Duesmann told the Frankfurter Allgemeine Sonntagszeitung. “We don’t have a factory in the U.S. yet. With the American government’s Inflation Reduction Act, building …

Audi CEO: planning electric car factory in U.S. due to IRA Read More »

(Reuters) -Spanish industrial production prices rose 8.2% in the 12 months through January, more than 6 percentage points below the December figure, the National Statistics Institute (INE) said on Friday. The number compared with a revised 14.9% increase in the 12 months through December. The industrial 12-month production price increase in January was the slowest …

Spanish January 12-month industrial prices increase at 8.2%, slowest in almost 2 years Read More »

By Marek Strzelecki and Karol Badohal WARSAW (Reuters) -Poland’s PKN Orlen on Friday reported a four-fold jump in fourth-quarter net profit, boosted by recent acquisitions and a strong refining performance. The state-controlled refiner posted a net profit of 16.37 billion zlotys ($3.67 billion) for the quarter ended Dec. 31, compared to 15.94 billion zlotys expected …

Poland’s PKN Orlen Q4 net profit surges on takeovers, refining Read More »

MADRID (Reuters) – Spanish engineering firm Sacyr on Friday reported a 2022 net profit of 111 million euros ($117.5 million), rebounding from a loss a year earlier, helped by higher returns from its inflation-indexed concession roads businesses. “Behind the strong 2022 results are new assets that begin to operate into concession services,” the company said. …

Spain’s Sacyr rebounds with $118 million profit for 2022 Read More »