Reuters UK Business

Siemens meets quarterly profit forecast, but weaker dollar drags overall results

7 Aug 2025

By John Revill ZURICH (Reuters) -Siemens reported industrial profit in line with forecasts for its latest quarter on Thursday, though a weakening U.S. dollar weighed on the German engineering group’s overall results. The company, which produces industrial software and trains, said its industrial profit declined 7% to 2.82 billion euros ($3.29 billion) for the three-month …

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CRH sees US market for supplementary cementitious materials doubling by 2050

7 Aug 2025

(Corrects headline to show the market referred to is for supplementary cementitious materials, not low-carbon cement alternatives) DUBLIN (Reuters) -CRH expects the market for supplementary cementitious materials (SCM), a low-carbon alternative to cement, to double in the United States by 2050, the head of the largest building materials producer in the U.S. said on Wednesday. …

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Rio Tinto says no economic incentive for green steel in Australia

7 Aug 2025

MELBOURNE (Reuters) -Rio Tinto joined peer BHP on Thursday to play down Australia’s prospects of building out a “green iron” sector that would help decarbonise the steel industry because the country lacks the economic incentives to do so. Australia is the world’s largest supplier of seaborne iron ore and has been striving to build a …

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IFX Payments’ Argentex takeover deal terminated

7 Aug 2025

(Reuters) -The previously announced acquisition of Britain’s Argentex by cross-border payments provider IFX Payments has been terminated after the currency risk management business entered administration last month, the companies said on Thursday. The companies had agreed to an emergency 3 million pound ($4 million) takeover in April after Argentex was rocked by swings in the …

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Auto parts group Dowlais reports cash outflow in first half due to tariffs

7 Aug 2025

(Reuters) -British auto parts supplier Dowlais reported a cash burn of 29 million pounds ($38.76 million) in the first half of the year, mainly due to the impact of U.S. tariffs. U.S. tariffs have pummelled global automakers, forcing them to book billions of dollars in losses, issue profit warnings, slash forecasts and raise prices. “Looking …

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UK meal deliverer Deliveroo lifts annual profit forecast to upper end of range

7 Aug 2025

(Reuters) -British food delivery group Deliveroo on Thursday forecast annual core profit of 170 million pounds to 190 million pounds ($227 million to $254 million), the upper end of its previous forecast range, as more orders on its platform boosted transaction volumes. The London-listed company, which in May agreed a takeover by U.S. rival DoorDash, …

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Australia to invest $33 million to boost Liontown’s Kathleen lithium operations

7 Aug 2025

(Reuters) -The Australian government said on Thursday it will invest A$50 million ($32.5 million) in Liontown Resources to help ramp up operations and transition to underground mining at its flagship Kathleen Valley project, in a bid to boost domestic minerals supply. The investment, which will be undertaken through the A$15 billion National Reconstruction Fund Corporation, …

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British insurer Just Group posts 23% fall in half-year operating profit

7 Aug 2025

(Reuters) -British insurer Just Group posted on Thursday a 23% fall in first-half operating profit, pressured by weaker new business margins amid stiff competition and tighter credit spreads. The company, which agreed to a 2.4-billion-pound ($3.20 billion) takeover deal by Canada’s Brookfield Wealth Solutions in late July, reported an underlying operating profit of 192 million …

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Analysis-Why the oil market is tight despite big OPEC+ output hikes

7 Aug 2025

By Robert Harvey, Ahmad Ghaddar and Seher Dareen LONDON, August 7 (Reuters) -OPEC+ oil producers have used high summer demand to launch their first output increases in three years, but those targets have proved difficult to hit, leaving the market surprisingly tight. On paper, the world’s largest group of oil-producing countries should be pumping an …

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Merck KGaA raises forex-adj profit guidance on drugs, lab gear

7 Aug 2025

FRANKFURT (Reuters) -Germany’s Merck KGaA on Thursday raised its full-year operating earnings guidance, excluding the effect of harsh foreign exchange headwinds, citing a strong performance at its pharmaceuticals and lab equipment businesses. In a statement, Merck predicted organic growth in earnings before interest, tax, depreciation and amortisation, adjusted for one-off items, of 4% to 8%, …

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