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Kering shares rise as market looks past a weak second quarter

30 Jul 2025

(Reuters) -Shares in Kering rose on Wednesday with analysts suggesting investors are looking past another weak quarter of earnings at the luxury goods conglomerate towards hopes for a turnaround. “The market is trying to look forward and anticipate future improvements,” Bernstein analyst Luca Solca said, after the Gucci parent reported after Tuesday’s market close a …

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Spain targets 120,000 Airbnb listings deemed illegal

30 Jul 2025

MADRID (Reuters) -Spain’s consumer rights ministry said on Wednesday that Airbnb had withdrawn the 65,000 listings for holiday rentals the ministry said in May violated rules, while it identified nearly 55,000 additional listings also deemed to be illegal. The Spanish government, as well as city councils and regional authorities, have launched a general crackdown on …

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L’Oreal CEO says mainland China turned positive for first time in five quarters

30 Jul 2025

PARIS (Reuters) -The chief executive of French cosmetics and fashion company L’Oreal said mainland China had turned positive for L’Oreal for the first time in five quarters. L’Oreal CEO Nicolas Hieronimus added on a conference call he was confident the global beauty sector market would grow at 4% this year. (Reporting by Dominique Patton;Editing by …

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Sterling edges up ahead of Fed, investors uncertain about BoE policy path

30 Jul 2025

By Stefano Rebaudo (Reuters) -Sterling was marginally higher on Wednesday as investors awaited the outcome of the Federal Reserve’s policy meeting, after digesting news this week of a trade deal between the United States and the European Union. The greenback edged lower as investors shifted their focus to the Federal Open Market Committee meeting later …

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Meta faces Italian competition investigation over WhatsApp AI chatbot

30 Jul 2025

By Elvira Pollina MILAN (Reuters) -Italy’s antitrust authority said on Wednesday it had launched an investigation into Meta Platforms over allegations the company abused its dominant position by installing its artificial intelligence tool on messaging service WhatsApp. The watchdog said Meta may have violated European Union competition rules by integrating its Meta AI assistant into …

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Santander on course for higher profits in 2025 despite Latam currency hit

30 Jul 2025

By Jesús Aguado MADRID (Reuters) -Santander stuck with its guidance for higher profits in 2025 on Wednesday after a strong performance from Spain and the U.S. in its second quarter offset some weaknesses in Brazil and Mexico. Executive Chairperson Ana Patricia Botin said the bank’s geographical spread – it operates in ten core markets – …

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Porsche trims outlook in ‘storm’ of US tariff woes and China slump

30 Jul 2025

By Rachel More BERLIN (Reuters) -Volkswagen’s embattled luxury brand Porsche cut its full-year profitability target on Wednesday after the EU’s trade deal with U.S. President Donald Trump and reported a 400-million-euro ($462-million) hit from tariffs in the first half. The burden of tariffs on car imports to the United States only added to Porsche’s woes, …

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Czech central banker Seidler sees limited scope for further rate cut

30 Jul 2025

By Jason Hovet PRAGUE (Reuters) -The scope for another Czech interest rate cut is limited and monetary policy is likely to be stable for some time, as services inflation stays high and the economy improves, central bank policymaker Jakub Seidler said in an interview. Seidler said data has shown economic activity performing better than expected. …

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Santander Bank Polska expects Erste transaction to close by year-end

30 Jul 2025

GDANSK (Reuters) -Santander Bank Polska, which is being acquired by Austria’s Erste Group, reported a 28% rise in second-quarter net profit on Wednesday, helped by higher interest income and lower loss provisions. Second-quarter profit was 1.02 billion zlotys ($275 million), ahead of the 872 million zlotys forecast in a Reuters poll. Net interest income for …

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