Reuters UK Business

BRUSSELS (Reuters) -EU antitrust regulators have extended their decision deadline on a $775-million bid by Universal Music Group unit Virgin Music Group for Downtown Music to December 10, after Universal asked for more time, the European Commission website showed. The Commission, which acts as the EU competition enforcer, had originally set a November 26 deadline …

EU deadline on Downtown deal extended to December 10 after Universal asks for more time Read More »

By Jacob Gronholt-Pedersen, Stine Jacobsen and Maggie Fick COPENHAGEN (Reuters) -Investors wiped $70 billion off Novo Nordisk’s market value on Tuesday after the maker of weight-loss drug Wegovy issued a profit warning and named a new CEO, as it battles rising competition in the obesity drug market. Novo named Maziar Mike Doustdar as its new …

Wegovy maker Novo’s profit warning triggers $70 billion share rout Read More »

(Reuters) -Italian hearing aid company Amplifon’s second-quarter core profit dropped 8.7% to 147.3 million euros ($169.84 million) on revenue that rose by 0.6%, it said on Tuesday. The company lowered its guidance for 2025 amid a difficult market environment, projecting consolidated revenue growth of about 3%. It had previously expected growth in a mid-to-high single-digit …

Italy’s Amplifon reports 8.7% decline in second-quarter core profit and lowers 2025 guidance Read More »

By Dominique Patton PARIS (Reuters) -L’Oreal <OREP.PA> warned on Tuesday that the EU’s trade deal with the U.S. would be costly and that the cosmetics maker would push for tariff exemptions, even as it reported improving demand for its makeup and hair products in the key U.S. market. The French group, whose brands include Maybelline …

L’Oreal to push for tariff exemption as US market improves Read More »

(Reuters) -Italian asset manager Banca Generali, subject of a takeover bid by Mediobanca, reported a net profit of 89.9 million euros ($104.1 million) for the second quarter on Tuesday, in line with analysts’ consensus provided by the bank. WHY IT’S IMPORTANT Mediobanca’s all-share bid for Banca Generali is one of multiple M&A moves that are …

Banca Generali posts in-line profit for Q2 amid wave of banking M&A in Italy Read More »

By Jaspreet Singh (Reuters) -Spotify forecast quarterly profit below estimate on Tuesday, as higher taxes related to employee salaries outweigh music streaming demand, sending its high-flying shares down 11%. Investors are closely monitoring the Swedish company’s profitability after price hikes and cost-cutting efforts in recent years helped it achieve its first annual profit for 2024. …

Spotify forecasts profit below estimate on high payroll taxes, shares sink Read More »

By Mimosa Spencer and Tassilo Hummel PARIS (Reuters) -Gucci owner Kering, reported on Tuesday a 15% drop in quarterly revenues, falling short of market expectations, with its finance chief flagging further price hikes in the United States to counter tariffs.  Sales in the second quarter totalled 3.7 billion euros ($4.3 billion), down 15% on a comparable …

Kering’s quarterly sales weaker than expected, Gucci down 25% Read More »