Reuters UK Business

By Thomas Escritt and Sarah Marsh BERLIN (Reuters) – A German politician set up a state-backed foundation with Russian energy company Gazprom last year to help Moscow avoid U.S. sanctions on a pipeline due to carry Russian gas to Europe. The move adds to questions about whether the United States and Germany are on the …

Explainer-How a German ‘climate’ fund set out to help Russia dodge U.S. sanctions Read More »

SAO PAULO (Reuters) – Steelmaker ArcelorMittal will invest some 1.3 billion reais ($250.51 million) to expand output at a plant located in the Brazilian state of Rio de Janeiro, it said on Thursday. The investments are expected to happen over the next three years, the company said in a statement, adding that its Barra Mansa …

ArcelorMittal to invest $250 million in Brazil plant Read More »

By Stephanie Nebehay BELLINZONA, Switzerland (Reuters) – A former Credit Suisse employee testified on Thursday that she kept the bank’s management fully informed of outflows from Bulgarian customers’ accounts after authorities in Sofia asked Switzerland for judicial assistance. In the first criminal trial of a major bank in Switzerland, Credit Suisse and the former employee …

Ex-Credit Suisse banker says she told bosses “everything” about Bulgarian clients Read More »

By Tom Wilson LONDON (Reuters) – Major cryptocurrency exchange Binance will make a $200 million investment in Forbes, the media company said on Thursday, as it prepares to go public via a special purpose acquisition company (SPAC). The investment by Binance, the world’s biggest cryptocurrency exchange by trading volumes, will replace half of the $400 …

Crypto exchange Binance to invest $200 million in U.S. media firm Forbes Read More »

By John Revill ZURICH (Reuters) – German engineering and technology group Siemens unveiled on Thursday a massive jump in orders during its first quarter, and indicated it would continue trimming fringe businesses, driving its shares up more than 6%. Orders surged 52%, the maker of trains and factory software said, as customers rushed to make …

Siemens orders boom as customers stock up on equipment Read More »

By John Revill ZURICH (Reuters) – ABB’s E-mobility business will hit the acquisition trail to reach its ambitious sales goals after its flotation later this year, the business’s chief executive told Reuters on Thursday. The business which makes fast electric chargers for cars, buses and trucks wants to spend $750 million on expanding its operations, …

ABB eyes acquisitions to grow electric vehicle charging business Read More »

By Danilo Masoni and Linda Pasquini (Reuters) -Delivery Hero saw almost a third of its market value wiped out on Thursday after 2022 earnings guidance fell short of market expectations and investors stampeded out of another stock previously considered a pandemic-era darling. Pandemic winners and high-flying tech companies, such as exercise bike maker Peloton Interactive …

Pandemic-era darling Delivery Hero’s shares punished as earnings disappoint Read More »