Reuters UK Business Archives - Page 421 of 3179

Russia’s Medvedev says 2026 ‘wartime’ budget should safeguard social spending

16 Sep 2025 16 Sep 2025

MOSCOW (Reuters) -Former Russian President Dmitry Medvedev called the draft 2026 budget, now in preparation, a “wartime” budget and said social spending including support for veterans of the conflict in Ukraine must not be sacrificed to balance the finances. The government must submit the 2026 draft budget, as well as a revised deficit figure for …

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Nextalia hires ex JPM banker to lead new private credit strategy

16 Sep 2025 16 Sep 2025

MILAN (Reuters) -Italy’s Nextalia has hired Enrico Monti, a former senior banker at JPMorgan in London, to lead the private equity firm’s new private credit strategy. He will join Nextalia as a partner, an update of Monti’s LinkedIn profile showed. Monti had lately been the head of corporate banking at Rome-based Banca del Fucino, where …

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UK must spend more on medicines, minister says, as Big Pharma cuts investment

16 Sep 2025 16 Sep 2025

By Alistair Smout LONDON (Reuters) -Britain needs to reverse its declining spend on medicines, science minister Patrick Vallance said on Tuesday, after two major pharmaceutical firms cancelled or paused investments and the industry warned of a difficult operating environment. U.S. drugmaker Merck & Co, known as MSD in Europe, last week said it was scrapping …

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Swiss banks claim first binding payment using public blockchain

16 Sep 2025 16 Sep 2025

(Reuters) – Three Swiss banks, including UBS, have carried out a binding payment using bank deposits and a public blockchain for the first time, the Swiss Bankers Association said on Tuesday. The payment was carried out as part of a feasibility study on use of deposit tokens by PostFinance, Sygnum Bank and UBS. “This is …

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Germany’s Schaeffler aims to double profit margin in 2028

16 Sep 2025 16 Sep 2025

By Amir Orusov (Reuters) – German machine and auto parts manufacturer Schaeffler is aiming to double its adjusted operating profit margin in 2028 from last year’s level, it said in a presentation of midterm targets unveiled on Tuesday. Its shares rose 3.6% at 1336 GMT after it announced at a capital markets day in Frankfurt …

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Lufthansa to propose Johannes Teyssen as supervisory board chief at upcoming AGM

16 Sep 2025 16 Sep 2025

(Reuters) -Lufthansa said on Tuesday it would propose Johannes Teyssen to be elected as chair of the supervisory board at the airline’s next general meeting in May 2026. He will succeed Karl-Ludwig Kley, who will step down from the airline’s supervisory board after eight years as chair, the company added in a statement. (Reporting by …

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Dutch earmark 1 billion euros for offshore wind farm subsidies

16 Sep 2025 16 Sep 2025

AMSTERDAM (Reuters) -The Dutch government will grant around 1 billion euros ($1.18 billion) in subsidies next year for the construction of offshore wind farms with a total capacity of 2 gigawatt (GW), it said on Tuesday. Tenders for the wind farms had been put on hold in May, as prospective builders had said they saw …

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Hungary bans foreign takeover of dairy company citing supply safety concerns

16 Sep 2025 16 Sep 2025

BUDAPEST (Reuters) -Hungary’s government has banned the foreign takeover of dairy company Alfoldi Tej Kft, citing supply safety concerns and national interests, the Economy Ministry said on Tuesday. The Economy Ministry said a foreign investor it did not identify had sought to acquire all shares in the dairy maker, which the government says accounts for …

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Exclusive-Russia close to cutting oil output due to drone attacks, sources say

16 Sep 2025 16 Sep 2025

LONDON (Reuters) – Russia’s oil pipeline monopoly Transneft has warned producers they may have to cut output following Ukraine’s drone attacks on critical export ports and refineries, three industry sources said on Tuesday. In a statement on its website, Transneft described the news as “fake” and part of the West’s “information war” against Russia. Kyiv …

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Stellantis to recall over 53,000 US vehicles over fuel pump issue, NHTSA says

16 Sep 2025 16 Sep 2025

(Reuters) – Chrysler-owner Stellantis is recalling 53,849 vehicles in the U.S. over potentially faulty fuel pumps, the National Highway Traffic Safety Administration (NHTSA) said on Tuesday. The recall covers certain 2017-2018 Alfa Romeo Giulia and 2018-2019 Alfa Romeo Stelvio vehicles, the auto safety regulator said. The vehicles had fuel pumps that may contain components vulnerable …

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