By John Revill ZURICH (Reuters) -Swiss watchmaker Swatch Group’s chief executive Nick Hayek has a tariff problem. And the clock is ticking. U.S. President Donald Trump unleashed a 39% tariff on most Swiss-made products last week, which will come into effect on Thursday. The country – known for its luxury timepieces, chocolate and secretive banks …
A Swiss watch icon navigates Trump’s tariff uncertainty Read More »
A look at the day ahead in European and global markets from Rocky Swift Markets are trying hard to see the bright side of bad news in the United States, anticipating dour data will trigger the economic “rocket fuel” of Federal Reserve interest rate cuts so craved by President Donald Trump. Odds for a September …
Morning Bid: Bad news is good news for markets craving Fed ‘rocket fuel’ Read More »
By Rishav Chatterjee (Reuters) -Australia’s TPG Telecom said on Tuesday it would return A$3 billion ($1.94 billion) to shareholders as part of a broader plan to streamline its capital structure and reduce debt, sending its shares to a three-year high. TPG finalised its A$5.25 billion transaction with Macquarie-backed Vocus in July, generating net cash proceeds …
Australia’s TPG Telecom flags $1.9 billion payout to reset structure, cut debt Read More »
By Shadia Nasralla and Yadarisa Shabong (Reuters) -BP has made its largest global oil and gas discovery in 25 years in Brazil’s Santos basin, it said on Monday, in what may be a major boost for the British company’s strategic shift away from renewable energy to refocus on fossil fuels. BP is seeking to bolster …
BP hails Brazil block as its largest global oil and gas find in 25 years Read More »
MADRID (Reuters) -Spanish power utility Naturgy said on Monday it would sell about 5.5% of its shares through an accelerated bookbuild and a bilateral sale as part of its plan to increase its free float and return to the main stock market indexes. The accelerated bookbuild, which began on Monday, aims to sell 2% of …
Naturgy to sell 5.5% of shares as part of plan to return to main indexes Read More »
MOSCOW (Reuters) -Russian metals producer Nornickel said on Monday its net profit for the first six months of 2025 rose 2% to $842 million, helped by a reduction in accumulated inventories. Revenues at Nornickel, a major producer of refined nickel and palladium, increased 15% to $6.46 billion, while earnings before interest, tax, depreciation and amortisation …
Nornickel’s first-half net profit up 2% to $842 million Read More »
(Corrects spelling mistake in paragraph 2) By Abigail Summerville -Goldman Sachs has named Marko Ratesic as vice chairman of the consumer retail group within its investment bank, according to a memo seen by Reuters on Monday. Goldman has recently advised on several blockbuster consumer and retail deals, including candy maker Mars’ $36 billion agreement to …
Goldman names Ratesic as vice chairman of consumer retail group Read More »
LONDON (Reuters) -British hedge fund Marshall Wace returned mixed results in two of its funds in July, a source close to the matter told Reuters on Monday. Co-founded by British financier Paul Marshall, the $76.9 billion firm returned 1.6% in July culminating in a 6.1% performance for 2025 so far in its Eureka Fund, the …
UK hedge fund Marshall Wace posted mixed returns for July, source says Read More »
MILAN (Reuters) -French bank Credit Agricole has acquired a further 0.3% of Banco BPM via derivatives, raising its stake in Italy’s third-biggest bank to 20.1%, a regulatory filing showed on Monday. The stake increase comes after Italy’s UniCredit last month dropped its takeover bid for BPM after running into government opposition and failing to persuade …
Credit Agricole raises Banco BPM stake to 20.1% with derivatives Read More »
By Twesha Dikshit and Ragini Mathur (Reuters) -European shares closed higher on Monday, rebounding from six-week lows as a surge in banking stocks offset a decline in Swiss shares following a hefty 39% U.S. tariff on Swiss goods. The pan-European STOXX 600 index rose 0.9%, with most major regional markets, barring Swiss stocks, rebounding from …
European shares rebound after Friday’s selloff, Swiss stocks fall Read More »
