Reuters UK Business

Hannover Re to exit Viridium consortium, while Santander Insurance buys in

1 Aug 2025

FRANKFURT (Reuters) -The German reinsurer Hannover Re is exiting the investor consortium behind Viridium Group, and will be replaced by Santander Insurance and the family office of the co-founders of Partners Group, the companies announced on Friday. Viridium is a firm that specializes in buying existing life insurance portfolios. Hannover Re’s exit is effective Sept. …

Hannover Re to exit Viridium consortium, while Santander Insurance buys in Read More »

Chemical maker LyondellBasell misses quarterly profit estimates on lower margins

1 Aug 2025

August 1 -LyondellBasell fell short of Wall Street expectations for second-quarter profit on Friday, as the chemical maker grappled with lower margins and higher energy costs, sending its shares down 2.5% in the premarket trading. Chemical companies in North America are seeing their profit margins squeezed due to rising energy costs, driven by surging power …

Chemical maker LyondellBasell misses quarterly profit estimates on lower margins Read More »

France’s Engie optimistic on US renewables projects, after lower energy prices dent earnings

1 Aug 2025

By America Hernandez PARIS -French utility Engie plans to move forward with its existing wind, solar and battery projects in the United States despite President Donald Trump rolling back subsidies, its CEO said on Friday. Europe’s largest gas network operator reported a 9.4% fall in first-half earnings before interest and taxes (EBIT), excluding nuclear, to …

France’s Engie optimistic on US renewables projects, after lower energy prices dent earnings Read More »

Daimler Truck warns of tougher H2 after outlook cut, shares lower

1 Aug 2025

(Corrects quote attribution to CFO Eva Scherer in paragraphs 2-3) By Amir Orusov and Ilona Wissenbach (Reuters) -Daimler Truck on Friday warned of mounting headwinds in the second half of 2025 after cutting its full year outlook late on Thursday due to weakness in North America, sending its shares down 5%. Daimler Truck’s CFO Eva …

Daimler Truck warns of tougher H2 after outlook cut, shares lower Read More »

Jeronimo Martins warns of market challenges, quarterly profit drops

1 Aug 2025

LISBON (Reuters) -Portuguese retailer Jeronimo Martins posted a near 9% fall in second-quarter net profit on Friday, even as sales and core earnings rose, and warned of enduring fierce competition and restrained consumption, leading to a 5% drop in its shares. The company, whose main market is Poland, where it operates the country’s largest food …

Jeronimo Martins warns of market challenges, quarterly profit drops Read More »

Stellantis CFO Doug Ostermann will also head Financial Services unit

1 Aug 2025

(Reuters) -Stellantis Chief Financial Officer Doug Ostermann will take an additional role in the group as head of Stellantis Financial Services, the executive said in a LinkedIn post on Friday. “Not only is it a great business, it is also a powerful enabler of growth and plays a critical role in providing our customers the …

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Erste Group Bank raises 2025 forecast on Q2 results beat

1 Aug 2025

(Reuters) -Erste Group Bank raised its full-year forecast for net interest income and a key profit metric after reporting second-quarter results that beat expectations on Friday, largely due to strong growth in its customer business. The Vienna-based bank expects a more than 15% return on tangible equity for the year, up from a previous forecast …

Erste Group Bank raises 2025 forecast on Q2 results beat Read More »

PPF stands firm on ProSieben offer after MFE raises bid

1 Aug 2025

By Bernadette Hogg and Alexander Hübner MUNICH -Czech investment firm PPF will not raise its cash offer of 7 euros ($7.99) per share for German media company ProSiebenSat.1, it said on Friday, after MFE-MediaForEurope sweetened its rival bid earlier this week. Italy’s Berlusconi-family controlled MFE group’s cash and shares bid currently values each ProSieben share …

PPF stands firm on ProSieben offer after MFE raises bid Read More »

UK’s Melrose shares jump on profit beat, slowing cash burn

1 Aug 2025

(Reuters) -GKN Aerospace owner Melrose Industries on Friday beat expectations for first-half profit and posted a significantly lower cash outflow, sending its shares as much as 8% higher. While geopolitical tensions are fuelling defence spending and growth for aerospace suppliers, U.S. President Donald Trump’s sweeping tariffs are forcing companies like Melrose to reassess their supply …

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Big Tech’s acquihire deals face regulatory scrutiny, outgoing EU antitrust official says

1 Aug 2025

By Foo Yun Chee BRUSSELS (Reuters) -Big Tech deals to acquire skills rather than major companies may soon come under the regulatory scrutiny they previously avoided, the outgoing head of the European Commission’s antitrust unit said. Acquihires, in which Big Tech hires start-ups’ founders and senior managers rather than acquire the companies, have been viewed …

Big Tech’s acquihire deals face regulatory scrutiny, outgoing EU antitrust official says Read More »

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