(Reuters) -Insurer Prudential announced a management shake-up on Thursday, setting up a new base for its top executives in Asia rather than London, as Chief Executive Mike Wells plans to retire next month. Prudential, which provides life and health insurance, said current finance boss Mark Fitzpatrick will become interim CEO. He has requested not to …
Prudential bosses to operate from Asia as CEO Wells retires Read More »
By Juliette Portala (Reuters) -Informa agreed to sell its pharma intelligence business to New York-based investment fund Warburg Pincus for 1.9 billion pounds ($2.58 billion), the British events organiser announced on Thursday, sending shares rising by 7%. The world’s largest exhibition group had made plans in December to divest the entire intelligence unit, which houses …
Informa’s $2.6 billion sale of pharma intelligence lifts shares Read More »
MILAN (Reuters) – Italian fashion company OTB said on Thursday that last year’s 16% rise in revenue to pre-pandemic levels would boost its organic growth plans after the group bought German label Jil Sander last year. The family-owned company confirmed its 2022-2024 growth strategy, saying it was a fundamental condition for its possible plan to …
Italy fashion group OTB posts 2021 revenue bounce back to pre-pandemic levels Read More »
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Credit Suisse on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and compensation costs. Though Switzerland’s second-biggest bank had flagged a large fourth-quarter loss, it was still steeper than expected. Analysts pointed to slides in revenue …
Credit Suisse flags weak 2022, ends torrid year with $2.2 billion quarterly loss Read More »
By Huw Jones LONDON (Reuters) – Credit rating agencies need to improve how they refer to environment, social and governance factors in their ratings used by investors to direct huge sums into sustainable funds, the European Union’s securities watchdog said on Thursday. In the first half of 2021, assets in EU sustainable funds rose by …
EU watchdog tells rating agencies to improve ESG ratings disclosures Read More »
By Pushkala Aripaka and Ludwig Burger (Reuters) -AstraZeneca raised its annual dividend for the first time in a decade on Thursday and forecast higher sales for 2022 as new drugs against cancer, kidney disease and rare conditions make up for a decline in COVID-19 products. Early data has shown a booster shot of the drugmaker’s …
AstraZeneca sees higher 2022 sales even as COVID boost wanes Read More »
By Jan Strupczewski BRUSSELS (Reuters) – Euro zone economic growth will be slower than earlier expected this year because of a new wave of COVID-19 infections, high energy prices and continued supply-side disruptions, while inflation will be much higher, the European Commission said. In its regular economic forecasts, the EU executive arm said gross domestic …
EU exec cuts 2022 euro zone growth forecast, sharply raises inflation view Read More »
MILAN (Reuters) – Italy’s Nexi said on Thursday core profit of the payments group combined with Nets and SIA would grow between 13% and 16% this year, after 2021 results came in line with targets. Nexi’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 12.1% to 1.09 billion euros ($1.25 billion) last year. The …
Italy’s Nexi sees 2022 core profit up 13-16% this year Read More »
FRANKFURT (Reuters) – The European Central Bank will raise its main interest rate only “if and when” it sees inflation stabilising at its 2% goal and regardless of what other central banks are doing, the ECB’s vice-president Luis de Guindos said on Thursday. “It’s natural that central banks around the globe won’t necessarily start raising …
ECB to raise rate ‘if and when’ it sees fit, de Guindos says Read More »
By Marta Frackowiak (Reuters) -Finnish drug manufacturer Orion posted a smaller-than-expected rise in fourth-quarter profit on Thursday as robust sales of its prostate cancer drug Nubeqa failed to offset rising costs and the fading effects of a pandemic boost. The Helsinki-based firm forecast 2022 sales and operating profit at a “similar level” to last year, …
Finnish drugmaker Orion’s quarterly profit falls on rising costs, lower sales Read More »
