MILAN (Reuters) -Telecom Italia’s (TIM) core profit fell sharply in the first quarter hit by shrinking revenues in the group’s competitive domestic market, where demand for connectivity weakened after a pandemic-driven surge. TIM said domestic sales, which accounts for about 80% of group revenue, fell 7.7% to 2.85 billion euros, in line with an analyst …
Telecom Italia core profit down as domestic demand weakens Read More »
By Tim Hepher, Padraic Halpin and Tassilo Hummel DUBLIN/PARIS (Reuters) -Airbus on Wednesday firmed up record plans for a 50% hike in key narrowbody jet output as it gambles on a steady travel rebound led by the United States, where the European exporter plans to deepen its industrial footprint. The world’s largest planemaker reaffirmed existing …
Airbus sets record jet output goal with new U.S. line Read More »
By Elizabeth Howcroft and Mathieu Rosemain LONDON/PARIS (Reuters) -Cryptocurrency exchange Binance has registered with France’s market regulator, Chief Executive Officer Changpeng Zhao said in a tweet on Wednesday, advancing the company’s plan to make Paris its European base. “It’s a real stamp of quality,” said Binance France’s General Manager David Prinçay, referring to the registration …
Binance registers with France crypto regulator, advances European plans Read More »
LONDON (Reuters) -Standard Chartered’s pay plans for top executives were approved by shareholders on Wednesday, but a sizeable minority of investors voted against the plans, after concerns were raised ahead of the bank’s annual investor meeting. The emerging markets-focused bank had been braced for a potential rebellion after influential shareholder proxy advisers ISS and Glass …
StanChart pay plans for top bosses pass; sizeable minority protest Read More »
By Bansari Mayur Kamdar (Reuters) -UK’s benchmark equities index declined on Wednesday, weighed by weakness in consumer staple and healthcare shares, while investors awaited the Federal Reserve’s interest rate decision later in the day. The blue-chip FTSE 100 index closed 0.9% lower, with drugmaker Astrazeneca, GSK and cyclical names such as Diageo, Unilever among the …
Healthcare, consumer staples weigh on London’s FTSE 100 Read More »
By John Revill ZURICH (Reuters) -Geberit will raise prices again this year as it tackles “an unprecedented surge” in raw materials costs hitting the construction industry, the Swiss plumbing products maker said on Wednesday. The company – seen as a proxy for the broader construction sector, as its products, such as bathroom ceramics and pipes, …
Plumbing supplier Geberit to hike prices again as costs rise Read More »
BERLIN (Reuters) – German automotive supplier Bosch wants to pass on price increases to customers as already-high production costs have been exacerbated by the effects of the war in Ukraine. “The burden on our result is growing considerably due to steep increases in the cost of energy, raw materials and logistics,” Bosch’s finance chief Markus …
By William James LONDON (Reuters) – Britain risks an inflationary spiral if the government bows to pressure to help voters hit by rising food and energy bills, environment minister George Eustice said on Wednesday before what he predicted would be difficult local elections this week. Voters will go to the polls on Thursday to elect …
UK spending to help squeezed voters would risk spiralling inflation -minister Read More »
AMSTERDAM (Reuters) – The high cost of margin calls has driven participants from the European gas market, cutting liquidity and making it harder to determine a price, the head of German utility RWE’s trading unit told an industry conference in Amsterdam on Wednesday. “There’s not sufficient liquidity in the market in order to absorb the …
Margin calls hamper European gas price discovery – RWE Read More »
By Christoph Steitz and Jan Schwartz FRANKFURT (Reuters) -Volkswagen, Europe’s top carmaker, on Wednesday stuck to its outlook for 2022, shrugging off supply chain disruptions caused by the war in Ukraine and the pandemic by drawing on its global production network. Global carmakers, like most industrial sectors, face a scarcity of key components in the …
Volkswagen sticks to outlook as size offset supply chain woes Read More »
