By Tristan Veyet and Johann M Cherian (Reuters) – European shares reversed course to close lower on Wednesday as a boost from Spanish fast-fashion giant Inditex was offset by a pullback in technology stocks. The pan-European STOXX 600 ended 0.05% lower at 552.12 points. Inditex climbed 6.4% after the company said sales had picked up …
Tech drag weighs on Europe’s STOXX 600 despite Inditex boost Read More »
MILAN (Reuters) – The general manager of Mediobanca said the take-up in Monte dei Paschi di Siena’s bid for the merchant bank would reach 80%, making a merger of the two groups inevitable, as he sought to reassure staff on a conference call. Mediobanca’s Francesco Saverio Vinci said MPS – smaller than its target – …
Mediobanca GM says take-up in Monte dei Paschi bid to reach 80%, lead to merger Read More »
ZURICH (Reuters) -Swiss competition authority COMCO said on Wednesday it was making preliminary antitrust checks on online property portal Swiss Marketplace Group, which earlier this month announced its intention to list on the stock exchange. “We can confirm we are investigating whether SMG’s offerings on its real estate platforms constitute an improper restriction of competition, …
Swiss antitrust watchdog makes initial check on online property portal SMG Read More »
By Giuseppe Fonte and Valentina Za ROME (Reuters) -Italy would focus on protecting small business lending and domestic savings in a tie-up between Banco BPM and the local arm of French Credit Agricole, the head of the lower house’s finance committee said, adding a bank’s nationality was not an issue in itself. Banco BPM is …
Italy would prioritise savings, SME lending in any Banco BPM-Credit Agricole deal Read More »
By Julia Payne and Kate Abnett BRUSSELS/STRASBOURG (Reuters) -The European Union will prioritise fixing eight power grid bottlenecks, the Commission President said on Wednesday, in an effort to lower the bloc’s uncompetitive energy prices and improve energy security. “I am presenting today a new initiative called Energy Highways. We have identified eight critical bottlenecks in …
EU targets 8 power grid bottlenecks to cut prices, boost security Read More »
By Louise Rasmussen, Jacob Gronholt-Pedersen and Maggie Fick COPENHAGEN (Reuters) – Novo Nordisk, the maker of blockbuster weight-loss drug Wegovy, said on Wednesday it will cut 9,000 jobs in a bid to reignite growth and fend off intense competition from U.S. rival Eli Lilly and a wave of compounded copycat drugs. The restructuring, including the …
Novo Nordisk slashes 9,000 jobs to slim down in fierce weight-loss drug battle Read More »
By Francesca Landini and Giancarlo Navach MILAN (Reuters) -Italian gas and electric utility Edison plans to replace some gas volumes from pipeline contracts with liquefied natural gas to gain more flexibility in managing demand, its CEO said on Wednesday. The company earlier announced a 15-year agreement with Shell to purchase around 0.7 million tonnes a …
Edison aims to replace some pipeline gas with flexible LNG supply Read More »
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Denmark’s economy remains robust despite job cuts at Novo Nordisk, the finance minister told Reuters on Wednesday, dismissing concerns that the pharmaceutical company’s financial troubles could further impact the country’s economic outlook. Novo Nordisk, known for its blockbuster weight-loss drug Wegovy, announced it would cut 9,000 jobs globally, including 5,000 …
Strong Danish economy can ride out Novo Nordisk downturn, finance minister says Read More »
By Kate Abnett and Andrew Gray STRASBOURG (Reuters) -The European Union’s chief executive, Ursula von der Leyen, sets out her priorities for the year ahead on Wednesday after a bruising summer dominated by a much-criticised trade deal with U.S. President Donald Trump. Von der Leyen, the president of the European Commission, will address the European …
Von der Leyen to outline EU priorities after US trade deal backlash Read More »
LONDON (Reuters) -France’s fiscal problems and shaky political set up are unlikely to be solved by the appointment of new Prime Minister Sebastien Lecornu, credit rating firm S&P Global said on Wednesday. S&P and its counterpart Fitch, which is due to review its French rating on Friday, have ‘negative outlooks’ on their AA- scores due …
New French PM faces same fiscal headaches, rating agency S&P warns Read More »
