LONDON (Reuters) – The Bank of England said on Thursday it has fined insurer MS Amlin Underwriting Ltd 9.695 million pounds ($10.84 million) for failings in its governance, controls and risk management. “The penalty reflects the seriousness of MSAUL’s failure to meet the expected standards in this case, and should deter similar conduct by other …
Bank of England fines Amlin $11 million for risk management failings Read More »
By Akriti Sharma and Marie Mannes (Reuters) -Marlboro maker Philip Morris International Inc on Thursday raised its buyout offer for Swedish Match AB in a last-ditch effort to get shareholder support for its $16 billion move into the fast-growing market for alternatives to cigarettes. Philip Morris increased its bid by more than 9% to 116 …
Philip Morris sweetens buyout bid for Swedish Match Read More »
PARIS (Reuters) – France is set to export about 40,000 tonnes of rapeseed to the United States in an unusual shipment for the oilseed, market sources said. The Star Maru bulk carrier is scheduled to enter the northern French port of Rouen on Thursday to start loading the cargo, traders and shipping sources said. France …
France set for rare rapeseed export to the United States Read More »
FRANKFURT (Reuters) – German online bank N26 said on Thursday it would begin allowing some customers in Austria to trade cryptocurrencies, in its first foray into the asset class. N26 said it would expand the service to clients elsewhere in the coming months and eventually facilitate the trade of almost 200 cryptocurrencies. The Berlin-based bank …
German online bank N26 to launch crypto trading in Austria Read More »
BERLIN (Reuters) – Mercedes-Benz has signed a supply agreement with Canadian-German Rock Tech Lithium Inc to receive on average 10,000 tons of battery-grade lithium hydroxide per year, the German carmaker said on Thursday. The deal allows the luxury carmaker to supply its battery partners with raw material, starting in 2026, including a qualification period, in …
Mercedes signs 1.5 billion eur deal with Rock Tech Lithium to push e-car drive Read More »
By Jesús Aguado MADRID (Reuters) -A rise in lending income, underpinned by higher interest rates and solid loan growth, boosted financial margins at Spain’s Bankinter in the third quarter, sending its shares up as much as 4% on Thursday. Banks across Europe are beginning to benefit from higher borrowing costs that are typically a boost …
Higher lending income boosts Bankinter’s Q3 net profit Read More »
By Supantha Mukherjee and Stine Jacobsen STOCKHOLM/COPENHAGEN (Reuters) – Telecom equipment makers Nokia and Ericsson were among the worst performers in Europe on Thursday, bruised by ongoing patent battles which cut profit margins and offset strong demand for 5G equipment. While the revenue of both companies beat expectations thanks to the rollout of 5G, delayed …
Nokia, Ericsson slump as patent fights hit margins Read More »
By Hyunjoo Jin and Akash Sriram (Reuters) – Tesla Inc said on Wednesday it expected to miss its vehicle delivery target this year, but downplayed concerns about softening demand after its revenue missed Wall Street estimates. Chief Executive Elon Musk told analysts on a conference call there was excellent demand in the fourth quarter, addressing …
Tesla sees 2022 delivery miss, Q3 revenue comes in below forecast Read More »
By Chavi Mehta (Reuters) -IBM Corp beat quarterly earnings estimates on Wednesday and said it expects to exceed full-year revenue growth targets as robust demand for the company’s digital services helps cushion the blow from a strong dollar. The IT software and services provider has been focusing on the so-called “hybrid cloud” after spinning off …
IBM expects to exceed annual revenue target on resilient cloud momentum Read More »
PARIS (Reuters) -Workers voted to end a strike at TotalEnergies’ Donges refinery on Wednesday, bolstering the government’s hopes the supply situation at petrol stations around the country will rapidly improve. Strikes were suspended at two other refineries in the North and Bouches-du-Rhone regions, but were being maintained at a site at Gonfreville, a CGT union …
Strikes end at some of TotalEnergies’ French refineries Read More »
