MOSCOW (Reuters) – A Russian government commission has approved the sale of Swedish furniture maker IKEA’s factories in Russia to two local buyers, paving the way for a deal to be struck, a government official was quoted as saying on Thursday. Western companies announced plans to leave Russia after it sent tens of thousands of …
Russian government approves sale of IKEA factories – deputy minister Read More »
By Huw Jones LONDON (Reuters) – The G20’s Financial Stability Board (FSB) said on Thursday it would take steps to tackle “vulnerabilities” and data gaps in decentralised finance (DeFi) highlighted by the collapse of cryptocurrency exchange FTX last year. The fast-growing and unregulated DeFi segment offers trading, borrowing and lending in cryptocurrency assets by using …
G20 watchdog homes in on decentralised finance after FTX crash Read More »
By John Revill ZURICH (Reuters) -The world’s biggest food group Nestle will push through further price increases this year, Chief Executive Mark Schneider said on Thursday, after more expensive ingredients contributed to lower 2022 profits. He declined to comment on the planned level of price increases, which he said were necessary to offset the damage …
Nestle plans price hikes after inflation eats into profits Read More »
FRANKFURT/SINGAPORE (Reuters) -German utility Uniper has agreed to sell its oil refinery in the United Arab Emirates to a consortium of Montfort and the private office of Sheikh Ahmed Dalmook Al Maktoum for an undisclosed sum, it said on Thursday. The sale of Uniper Energy DMCC, Uniper’s local crude oil processing and marine fuel trading …
Uniper sells UAE marine fuels refinery to consortium including Montfort Read More »
By Mathieu Rosemain PARIS (Reuters) -Orange on Thursday said it expects to bolster cash flows and increase shareholder returns by 2025 as the French telecoms company reaps the rewards of network investments, sending its shares higher. Chief Executive Christel Heydemann set out the company’s ambitions in a new strategic plan, dubbed “Lead the Future”, nearly …
Orange expects to reap rewards of network investments by 2025 Read More »
By Dominique Vidalon PARIS (Reuters) -Pernod Ricard on Thursday said it expected robust annual sales growth as the French spirits group plans more price hikes in China and the United States to offset high costs of energy, glass and packaging. Pernod, which owns Martell cognac, Mumm champagne and Absolut vodka, posted forecast-beating first-half profit and …
Pernod Ricard confident on annual sales growth after strong H1 Read More »
By Tom Sims and Marta Orosz FRANKFURT (Reuters) -Germany’s Commerzbank said on Thursday that net profit rose a better-than-expected 12% in the fourth quarter, helped by higher interest rates and capping a second consecutive profitable year as it undergoes a major restructuring. The bank said it would aim for a 2023 result that is “well …
Commerzbank sees 2023 profit ‘well above’ 2022 despite challenges, shares surge Read More »
By Tim Hepher PARIS (Reuters) -Airbus slowed the production ramp-up of its best-selling A320neo-family jet and targeted 2023 jet deliveries in line with its original estimate for last year as the world’s largest planemaker bowed to industrial pressure on supplies. The France-based group also targeted an adjusted operating profit of 6.0 billion euros ($6.4 billion) …
(Corrects paragraph 1 to say sales in the period were at 103% of pre-pandemic levels, not rose 103%; changes headline to reflect) (Reuters) – Snack chain group SSP Group Plc said on Thursday sales for the first four months of its fiscal year were at 103% of pre-pandemic levels, as a pick-up in travel over …
Upper Crust-owner SSP Group’s sales rise above pre-pandemic levels Read More »
(Reuters) -UK’s Home REIT, which has been under scrutiny over the last few months after a short seller report, said on Thursday it received an unsolicited approach from investment firm Bluestar Group Ltd for a possible acquisition offer. The housing provider for the homeless did not give any financial details but said any offer by …
UK’s Home REIT gets unsolicited buyout approach from Bluestar Group Read More »
