FRANKFURT (Reuters) -Oliver Blume’s planned exit as Porsche AG CEO is long overdue, German mutual fund firm Deka Investment said on Friday, adding he must focus on turning around parent Volkswagen. “Blume must win back the trust of the capital market. He must push ahead with the restructuring (of Volkswagen) and deliver on the announced …
VW restructuring must be CEO Blume’s focus, Deka Investment says Read More »
(Reuters) -European defence stocks fell sharply on Friday as news of a planned summit on the war in Ukraine jolted the sector after its strong run this year. U.S. President Donald Trump and his Russian counterpart Vladimir Putin spoke on Thursday, in a two hour conversation Trump called productive. They agreed another summit on the …
European defence stocks stumble on Trump-Putin summit news Read More »
By Amanda Cooper LONDON (Reuters) -Sterling fell on Friday, as investors rushed to safe-haven currencies like the Swiss franc and Japanese yen in light of growing anxiety over the outlook for the U.S. economy, regional banks and global trade tensions. The pound fell 0.13% to $1.34225, though it was still headed for a weekly rise …
Pound struggles as investors flock to safe havens Read More »
MADRID (Reuters) -Shares in BBVA rose 5.7% after it announced it would immediately resume share buybacks following its failure to convince Sabadell shareholders to back its 16.32 billion euro ($19.09 billion) hostile takeover bid, while shares in the smaller lender fell 6.5%. Shareholders of Sabadell tendered just 25.47% of voting rights, below even the lower …
Shares in BBVA rise 5.7% while Sabadell falls 6.5% after failed takeover bid Read More »
LONDON (Reuters) -British education company Pearson said its underlying sales growth accelerated to 4% in the third quarter, up from 2% in the first half, driven by demand for virtual learning, where enrolments rose 13% for the 2025/26 academic year. Chief Executive Omar Abbosh said the performance set the company up for a “strong Q4”. …
Pearson’s sales growth accelerates on virtual learning and English test demand Read More »
By Greta Rosen Fondahn and Helen Reid STOCKHOLM/LONDON (Reuters) -IKEA’s annual sales fell for a second consecutive year, it reported on Thursday, as the budget furniture retailer stuck to a strategy of cutting prices to attract cash-strapped consumers and gain market share in a fiercely competitive market. Having hiked prices during the pandemic due to …
IKEA sales fall for second year as retailer makes aggressive price-cutting push Read More »
By Nell Mackenzie LONDON (Reuters) -Shares of Man Group hit a six-month high on Friday, after the hedge fund posted a 22% increase in assets under management to a record $213.9 billion in the 12 months to September 30, beating expectations, over a year of intense market volatility. Analysts had expected a rise in assets …
Man Group shares jump as assets under management rise 22% to record Read More »
By Christian Kraemer and Maria Martinez WASHINGTON (Reuters) -International investors have shown renewed interest in Germany at this week’s IMF meetings in Washington, but Europe’s fragmented regulatory framework is holding them back, the head of the Association of German Banks told Reuters. “Many are holding back because Europe is still a patchwork of different national …
Europe’s patchwork of regulations is holding investors back, says German banking head Read More »
(Reuters) -Spain’s Cellnex said on Friday that it has signed a put option agreement to sell all its 99.99% share capital in Towerlink France to Vauban Infra Fibre for 391 million euros ($458 million). The deal, made through the French subsidiary of Europe’s largest mobile phone tower operator, will be fully paid in cash on …
Cellnex sells French data center unit for 391 million euros Read More »
(Reuters) -Oilfield services provider Petrofac said on Friday its ongoing restructuring would leave existing shareholders with no residual value, as it moves to complete the process by November-end. Petrofac is restructuring its finances under pressure from rising costs and delayed payments, a move that reflects wider challenges facing oilfield service firms in a volatile energy …
UK’s Petrofac’s restructuring plan to leave shareholders empty-handed Read More »
