Reuters UK Business

MILAN (Reuters) -Italian luxury group Ermenegildo Zegna reported a 2.6% drop in second-quarter organic revenues on Wednesday as sales in its wholesale channel sank, especially for the smaller Thom Browne brand, and with weakness in the Chinese market. Organic revenue totalled 469 million euros ($541 million) for the April-June quarter, broadly in line with an …

Italian luxury group Zegna suffers drop in organic revenues in second quarter Read More »

ROME (Reuters) -Italy has asked to tap a new European Union arms-buying fund aimed at helping member states to fund their investments in defence, Economy Minister Giancarlo Giorgetti said on Wednesday. Together with other NATO partners, Italy has committed to boost its defence spending to 3.5% of national output from the current 2% and commit …

Italy flags interest in tapping EU SAFE fund for defence Read More »

(Corrects paragraph 11, the two senior executives will be leaving the firm and were not ‘let go’) By Nell Mackenzie LONDON (Reuters) -Hedge fund Man Group posted a more than 40% fall in first-half core profit on Wednesday as fee income dropped, even as its assets under management rose 14% to a record $193.3 billion. …

Man Group’s half-year profit slumps even as assets under management hit record $193 billion Read More »

(Reuters) -Diageo said on Wednesday it has appointed Deirdre Mahlan as interim finance chief to succeed Nik Jhangiani who took over as interim CEO of the world’s biggest spirits maker earlier this month. Jhangiani was elevated to interim CEO after predecessor Debra Crew stepped down after just two years, during which shares in the maker …

Diageo names Deirdre Mahlan as interim CFO Read More »

By Pietro Lombardi MADRID (Reuters) -Spanish water and renewable energy company Cox is considering buying Iberdrola’s assets in Mexico, CEO Nacho Moreno told Reuters on Wednesday, as part of the company’s strategy to pursue growth through acquisitions. “What I can tell you is that it’s true they are running a process to sell their Mexican …

Spain’s Cox eyes Iberdrola’s Mexican assets and other deals to fuel growth, CEO says Read More »

(Reuters) -Kraft Heinz posted better-than-expected net sales and profit for the second quarter on Wednesday, helped by resilient demand for its pantry staples and condiments in the United States as consumers tried to stretch their household budgets. A mix of sticky inflation and heightened economic uncertainty has forced people to cook more affordable meals at …

Kraft Heinz beats quarterly revenue estimates on steady US demand Read More »