Reuters UK Business

LONDON (Reuters) – British Foreign Secretary Liz Truss, the bookmakers’ favourite to succeed Prime Minister Boris Johnson in a Conservative Party leadership election, said on Thursday she would not impose further windfall taxes on oil and gas companies. “I don’t believe in windfall taxes because they put off future investment,” Truss said, when asked in …

UK leadership hopeful Truss will not impose more windfall taxes on energy firms Read More »

(Reuters) -Intel Corp lowered its full-year sales forecast and missed estimates for second-quarter results on Thursday as demand for its chips used in personal computers cools off from pandemic highs. Shares of the Santa Clara, California-based company fell 10% in extended trade as the company also forecast current-quarter results well below expectations. Runaway inflation and …

Intel lowers annual revenue forecast on PC demand slump Read More »

By Supantha Mukherjee and Mathieu Rosemain STOCKHOLM/PARIS (Reuters) -STMicroelectronics raised its full-year outlook on Thursday after the Franco-Italian chipmaker beat second-quarter revenue expectations helped by strong demand for chips used in products ranging from smartphones to cars. The group, whose top clients include iPhone maker Apple and electric carmaker Tesla, strongly benefits from a surge …

Chipmaker STMicroelectronics beats estimates, lifts 2022 outlook Read More »

By Jesús Aguado MADRID (Reuters) -Santander’s solid second-quarter results in Europe and the Americas were somewhat overshadowed by higher loan loss provisions, costs and lending pressure in Brazil, the Spanish banking group’s main market, sending its shares lower. Higher revenues in Europe and still strong profitability in the Americas helped the euro zone second-biggest lender …

Higher provisions, costs overshadow Santander’s solid Q2 results Read More »

LONDON (Reuters) – Shell has slashed its use of gas at Europe’s largest oil refinery, Rotterdam’s 404,000 barrel per day Pernis site, by 40% and at its German refineries by 70% in light of the continent’s natural gas crunch, its chief executive said. Gas is an important feedstock for refining crude oil into products such …

Shell slashes gas intake at Dutch, German oil refineries Read More »

By Susan Mathew (Reuters) -European shares came off session highs on Thursday, as a slew of downbeat earnings including from Santander took the shine off a global rally driven by easing worries about the future pace of U.S. interest rate hikes. The U.S. Federal Reserve raised its main interest rate by 75 basis points as …

European stocks trim gains on some downbeat earnings Read More »

By Sinchita Mitra (Reuters) – British lender Metro Bank narrowed first-half pretax losses and expects to reach monthly breakeven in the first quarter of next year, it said on Thursday, citing cost cuts and its turnaround plan. The mid-sized lender, however, said it was adopting a cautious outlook because of heightened “global insecurity”. “As of …

Metro Bank says breakeven nears as cost cuts continue Read More »