Reuters UK Business

MILAN (Reuters) – Telecom Italia’s (TIM) top investor Vivendi is keen to start talks with Italy’s new right-wing government on a new plan to create a national broadband company, people close to the French media conglomerate said on Sunday. Debt-laden Telecom Italia has been embroiled for months in negotiations over the sale of its prized …

TIM top investor Vivendi keen to discuss network plan with govt – sources Read More »

(Reuters) -Activist investor Elliott Management Corp has decided to back Marlboro-maker Philip Morris International’s (PMI) $16 billion offer for Swedish Match AB, the Financial Times reported on Sunday. Elliott has tendered its shares in the Swedish target, the FT said, bringing PMI closer to the 90% threshold required for forced redemption of remaining minority stakeholders. …

Elliott backs Philip Morris’s $16 billion Swedish Match takeover -FT Read More »

MILAN (Reuters) – The Italian government intends to scrutinise the potential sale of a refinery owned by Russia’s Lukoil in Sicily to prevent job cuts and the loss of fuel production for the country, Industry Minister Aldo Urso said on Sunday. The ISAB refinery accounts for around 20% of Italy’s refinery capacity and directly employs …

Italy to scrutinise sale of Lukoil-owned refinery, minister says Read More »

LONDON (Reuters) – Britain’s government is facing significant and difficult decisions on taxes and spending in an effort to plug a budget shortfall, cabinet office minister Oliver Dowden said on Sunday, declining to comment on possible measures. Prime Minister Rishi Sunak and finance minister Jeremy Hunt will set out plans to cover the shortfall of …

UK government faces tough budget decisions, says minister Read More »

BERLIN (Reuters) – Germany’s more than 20 million pensioners will likely see their state benefit rise by up to 4.2% from July 2023, according to a governemt proposal seen by Reuters, lower than the expected inflation rate of 7.0%. The state pension in western Germany will rise by 3.5%, while in former East Germany it …

German pensions could rise by up to 4.2% in 2023 – proposal Read More »

By Jonathan Stempel (Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analyst forecasts. Berkshire benefited from increased demand and prices …

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand Read More »

ZURICH (Reuters) – The threat of recession in the euro zone and beyond, an energy supply squeeze and the eroding effect of inflation on purchasing power mean Switzerland faces difficult years ahead, Justice Minister Karin Keller-Sutter told the Neue Zuercher Zeitung. “I consider this mixed situation to be very difficult,” she said in comments published …

Swiss minister: economic situation means difficult years ahead Read More »

(Reuters) -An arbitrator on Friday reaffirmed Fox Corp’s right to acquire a nearly one-fifth stake in FanDuel, settling a longstanding dispute with the betting app’s owner, Flutter Entertainment Plc. The New York-based Judicial Arbitration and Mediation Services tribunal ruled that Fox has a 10-year option to acquire an 18.6% stake of FanDuel for $3.7 billion. …

Fox says arbitrator affirms its option to acquire stake in FanDuel Read More »

(Reuters) -British Prime Minister Rishi Sunak and finance minister Jeremy Hunt plan to reveal a stealth tax raid on pensions later this month, The Telegraph reported on Friday. The pension lifetime allowance is set to be frozen for two more years, with a rise in line with prices delayed from 2025 to 2027, the newspaper …

UK to reveal stealth tax raid on pensions later this month-The Telegraph Read More »