SARAJEVO (Reuters) – Croatian food producer and retailer Fortenova Grupa said it had not been officially notified of a deal that Russian state bank Sberbank Rossii PAO reached to sell its 43% stake in the company, local media reported on Thursday. In a brief statement on Wednesday, Sberbank said the stake had been bought by …
Croatia’s Fortenova says it was not notified of Sberbank’s stake sale – media Read More »
By Giulio Piovaccari and Gilles Guillaume MILAN (Reuters) – Revenues at Stellantis rose 29% in the third quarter as improved semiconductor supplies helped to boost sales volumes, the owner of car brands including Fiat and Peugeot said in a statement on Thursday. But while the semiconductor crunch was easing, other supply chain issues made an …
Stellantis sales rise 29% in Q3 but delivery issues cast cloud Read More »
By Tristan Chabba and Enrico Sciacovelli (Reuters) -Swiss industrial group OC Oerlikon cut its 2022 margin outlook on Thursday, citing weakening industrial activity in a volatile market. Industrial groups such as Oerlikon are highly exposed to cost increases as the Swiss government has stuck to its decision not to provide financial aid this winter to …
Swiss OC Oerlikon cuts margin target as industrial activity slows Read More »
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Soon-to-be-nationalised gas importer Uniper reported a record 40 billion euro ($39.3 billion) net loss, among the biggest in German corporate history, reflecting expected future losses in the wake of Russia’s move to stop its supplies. The nine-month loss further highlights how Russia’s decision to sever a decade-long …
‘Massive scars’: Germany’s Uniper posts record 40 billion euro net loss Read More »
MADRID (Reuters) – The European Central Bank will issue its non-binding opinion on Spanish banking tax proposal “very shortly,” policymaker Pablo Hernandez de Cos said on Thursday. Two sources with direct knowledge of the matter told Reuters last month that the ECB was set to warn of the adverse impact on Spanish banks’ solvency of …
ECB’s opinion on Spanish banking tax will be issued “very shortly”, De Cos says Read More »
By James Davey LONDON (Reuters) -Sainsbury’s, Britain’s second-biggest supermarket group, said trading momentum was strong over the last month and it was well placed for Christmas, with shoppers starting to stock up on festive treats earlier. Shares in the company rose 3% in early trading, after the group posted its first-half results and stuck to …
Britain’s Sainsbury’s well-placed for Christmas as trading holds up Read More »
ZURICH (Reuters) – Credit Suisse profitability could be hit by a drop in asset management fees in the fourth quarter, the Swiss bank said in a financial report late on Wednesday. Lower asset values because of adverse market movements in client portfolios in the third quarter could lead to decreased fee revenues for the group, …
By Victoria Klesty and Gwladys Fouche OSLO (Reuters) -Norway’s central bank raised its benchmark interest rate by 25 basis points (bps) to 2.50% on Thursday, as expected by nearly half the economists surveyed by Reuters, and said it would likely hike again in December to help curb inflation. “We are raising the policy rate to …
Norway central bank hikes rate by 25 basis points, will likely hike again Read More »
LONDON (Reuters) – The chief executive of Sainsbury’s, Britain’s second-biggest supermarket group, said it has ordered more turkeys for Christmas this year than last year, giving it a buffer in case avian flu hinders supply. Britain announced new measures in October to tackle the country’s largest-ever outbreak of avian flu, prompting shoppers to worry that …
Don’t panic, we’ve ordered more turkeys this year – Sainsbury’s Read More »
By Clara Denina and Sarah McFarlane LONDON (Reuters) – Europe needs its industrial companies to save energy amid soaring costs and shrinking supplies, and they are delivering – demand for natural gas and electricity both fell in the past quarter. It is far too early to rejoice, though. The drop is not just because industrial …
Energy crisis chips away at Europe’s industrial might Read More »
