Reuters UK Business

European steelmakers warn of pressure on demand and pricing

31 Jul 2025

By Anna Peverieri and Jagoda Darlak (Reuters) -ArcelorMittal, Outokumpu and Aperam warned of mounting pressures from tariffs and weak demand, as the outlook for European steelmakers worsened following a mixed second quarter. ArcelorMittal’s quarterly core earnings were broadly in line with market expectations, while Outokumpu and Aperam beat analysts’ estimates but projected lower earnings for …

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Siemens further reduces stake in Siemens Healthineers

31 Jul 2025

MUNICH (Reuters) -Siemens AG reduced its stake in medical technology company Siemens Healthineers by nearly 2 percentage points to 71.12%, according to a regulatory filing on Thursday. Healthineers’ CEO Bernd Montag said earlier this year that the company would welcome a stake reduction by its parent company, calling it “very good” for the long term. …

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International Paper misses quarterly profit estimates on higher costs; shares fall

31 Jul 2025

(Reuters) -International Paper missed Wall Street estimates for second-quarter profit on Thursday, hurt by steeper input costs for its corrugated cardboard and fiber packaging products, sending its shares down 7% in premarket trading. The Tennessee-headquartered firm, which reported its first full quarter since buying UK rival DS Smith, said its margins were affected due to …

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Egypt agrees deal with Eni, BP for oil and gas exploration in the Mediterranean

31 Jul 2025

CAIRO (Reuters) -Egypt signed an agreement with oil giants Eni and BP to start exploration activities in the Mediterranean Sea, the petroleum ministry said on Thursday The agreement also includes drilling in the coming months an exploration well for natural gas in the Lake Timsah area, which lies in a basin developed along a fault …

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Safran shares rise as French jet engine maker raises outlook

31 Jul 2025

By Tim Hepher PARIS (Reuters) -French aerospace group Safran raised annual forecasts after posting higher-than-expected first-half profits on Thursday, pushing its shares up more than 4% as it benefited from brisk demand for spare parts for jet engines. Safran, which together with GE Aerospace co-produces engines for Airbus and Boeing medium-haul jets, also reported higher …

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Italy’s opposition warns against involving SpaceX in satellite update

31 Jul 2025

By Angelo Amante ROME (Reuters) -Italy’s main opposition Democratic Party (PD) has warned Giorgia Meloni’s ruling coalition against involving Elon Musk’s SpaceX in the update of a satellite programme, parliamentary documents show, saying the move would pose national security risks. A lower house defence committee approved this week a government proposal which includes replacing an …

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BAT profit beats estimates as US, its biggest market, returns to growth

31 Jul 2025

(Reuters) -British American Tobacco exceeded first-half profit estimates on Thursday as its U.S. business grew for the first time in three years, a potential turnaround in its largest market as new U.S. tariffs are introduced and consumer preferences shift. While most of BAT’s products sold in the U.S. are produced locally, its Vuse vape devices …

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Maire lifts H1 profits 36% and upgrades 2025 guidance

31 Jul 2025

(Reuters) -Italian engineering group Maire reported on Thursday a 36.2% increase in first half profit, benefiting from higher sales, and upgraded its guidance for 2025. Maire’s core profit rose to 232.1 million euros ($265.2 million) which the company said reflected efficient management of overhead costs. Maire also revised its full year guidance, now forecasting revenue …

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BMW sticks with guidance despite profit drop, Trump tariffs

31 Jul 2025

By Rachel More and Christina Amann BERLIN (Reuters) -Germany’s BMW maintained its full-year guidance on Thursday despite U.S. tariffs and quarterly earnings dropping by a third, arguing that its large manufacturing presence in the country gives it an edge over rivals. By contrast, Volkswagen, its luxury brand Porsche and Mercedes-Benz have all cut their outlooks. …

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