Reuters UK Business

Wood Group accepts Sidara’s takeover bid after year-long pursuit

29 Aug 2025

(Reuters) -Britain’s Wood Group has agreed to a 216-million-pound ($292 million) conditional takeover bid from Dubai-based Sidara, the companies said on Friday, ending a pursuit that spanned more than a year and involved multiple offers and rejections. Under the 30-pence-per-share offer, Sidara will assume $1.6 billion of Wood Group’s debt and inject $450 million of cash …

Wood Group accepts Sidara’s takeover bid after year-long pursuit Read More »

FTSE 100 posts biggest weekly decline in 5 months as banks weigh

29 Aug 2025

By Twesha Dikshit (Reuters) -London equities fell on Friday, dragged down by heavyweight banking stocks after a think-tank recommended a new tax on lenders as a possible way for finance minister Rachel Reeves to raise revenue. The blue-chip FTSE 100 closed 0.3% lower, down for a fourth consecutive day and posting its biggest weekly decline …

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Giorgio Armani sees succession as a ‘gradual transfer’ of responsibilities

29 Aug 2025

MILAN (Reuters) -Giorgio Armani sees his succession as a gradual handover to his closest collaborators and family, the Italian fashion designer told the Financial Times on Friday, after poor health forced him to miss the recent Milan and Paris fashion shows. Before skipping Milan in June, Armani, 91, who is both creative director and CEO …

Giorgio Armani sees succession as a ‘gradual transfer’ of responsibilities Read More »

Austria’s next central bank chief: milder than predecessor, has rebuked Trump administration

29 Aug 2025

By Francois Murphy and Alexandra Schwarz-Goerlich VIENNA (Reuters) -Austria’s next central bank governor, behavioural economist Martin Kocher, is expected to be milder in public than his outspoken predecessor, although he has rebuked the Trump administration over threats to central bank independence. Kocher, 51, will take office on Monday, succeeding Robert Holzmann, 76, who, in six …

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Chiquita to return to Panama with $30 million investment and 5,000 jobs

29 Aug 2025

PANAMA CITY (Reuters) -Banana giant Chiquita has agreed to restart operations in Panama after mass layoffs earlier this year, Panama’s government and the company said on Friday. Chiquita plans to invest $30 million to launch production again in the western province of Bocas del Toro, aiming to be operational by February 2026, according to a …

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Russia’s Gazprom first-half net profit down 6% to $12 billion

29 Aug 2025

MOSCOW (Reuters) -Gazprom’s net income dropped almost 6% year-on-year in the first half of 2025 to 983.1 billion roubles ($12.2 billion), the state-owned Russian company said on Friday, due to a stronger rouble and weaker oil prices. Revenue also edged down to 4.99 trillion roubles. Gazprom incurred a loss of around $7 billion in 2023, …

Russia’s Gazprom first-half net profit down 6% to $12 billion Read More »

Colt buys majority stake in $1 billion gunpowder ingredient maker

29 Aug 2025

By Jan Lopatka PRAGUE (Reuters) -Czech-based firearms maker Colt CZ Group SE has agreed to buy a majority stake and potentially all of the shares in Synthesia Nitrocellulose, in a deal valuing the Czech gunpowder ingredient maker at 22 billion crowns ($1.05 billion). Colt, which also has operations in the United States, Canada, Sweden, Switzerland …

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Second Swiss parliamentary committee votes to delay UBS rules

29 Aug 2025

ZURICH (Reuters) -A second Swiss parliamentary committee on Friday backed a motion set to delay some tougher capital rules for UBS, in a move signalling significant support among conservative and centrist parties for the bank’s demands to soften proposed regulation. The motion narrowly adopted by the upper chamber’s economic affairs and taxation committee passed its …

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Putin moves Air Liquide’s Russian assets to local company

29 Aug 2025

MOSCOW (Reuters) -Russian President Vladimir Putin signed a decree on Friday placing the Russian assets of French group Air Liquide under the administration of a local company. The decree is related to Russia’s response to what it describes as “unfriendly” measures by the United States and other Western countries, which seized Russia’s property during the …

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