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Germany plans to cut energy costs by 42 billion euros, draft budget shows

28 Jul 2025

BERLIN (Reuters) -Germany plans to cut energy costs for consumers and businesses by 42 billion euros ($48.69 billion) between 2026 and 2029 by drawing on its Climate and Transformation Fund, a draft of the 2026 federal budget obtained by Reuters showed. Around 26 billion euros of this will be allocated as subsidies for electricity transmission …

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Germany’s Merz says he did not expect better EU-US trade deal, German economy will suffer

28 Jul 2025

BERLIN (Reuters) -German Chancellor Friedrich Merz said on Monday he was not satisfied with the result of trade talks with the United States, but “more simply wasn’t achievable” and added the German economy would suffer “significant” damage due to the agreed tariffs. The trade deal announced on Sunday imposes a 15% import tariff on most …

Germany’s Merz says he did not expect better EU-US trade deal, German economy will suffer Read More »

ADNOC’s Covestro deal in EU crosshairs over subsidies

28 Jul 2025

By Bart H. Meijer and Foo Yun Chee BRUSSELS (Reuters) -Abu Dhabi state oil giant ADNOC’s 14.7 billion euro ($17.2 billion) bid for German chemicals company Covestro may face hurdles after EU antitrust regulators opened an investigation on Monday into potential distortions caused by foreign subsidies. ADNOC struck the deal to buy Covestro last October, …

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Wine producers in Italy’s Valpolicella brace for US tariffs

28 Jul 2025

By Oriana Boselli NEGRAR, Italy (Reuters) -Italy’s wine producers, already struggling amid a slowing economy and a strengthening euro, face a further challenge after wine and spirits were left out of the U.S.-EU trade deal agreed on Sunday. Discussions are continuing regarding any tariff exemptions for the wines and spirits sectors in the framework trade …

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EssilorLuxottica’s first-half operating profit up 4.1%

28 Jul 2025

MILAN (Reuters) -Operating profit at EssilorLuxottica rose a slightly smaller-than-expected 4.1% in the first half of the year, the Franco-Italian eyewear and optical lenses group said on Monday, as it dealt with the impact of U.S. tariffs. First-half adjusted operating profit totalled 2.53 billion euros ($2.94 billion), slightly below a Visible Alpha analyst consensus of …

EssilorLuxottica’s first-half operating profit up 4.1% Read More »

Orange Polska maintains full-year guidance, lifts Q2 net profit

28 Jul 2025

GDANSK (Reuters) -Orange Polska on Monday reaffirmed its 2025 full-year guidance for revenue and core earnings and posted an 18% year-on year rise in second-quarter net profit to 272 million zlotys ($74 million). Analysts polled by Reuters had expected the net profit to come in at 272 million zlotys. The company said the profit increase …

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European shares close lower as US-EU trade deal draws mixed response

28 Jul 2025

By Twesha Dikshit and Ragini Mathur (Reuters) -European shares pulled back from a four-month high and settled Monday’s choppy session marginally lower as investors weighed the implications of a framework trade agreement between the United States and the European Union. The pan-European STOXX 600 index rose as much as 1% to touch a four-month high …

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Industrial stocks drag UK equities, investors assess US-EU trade deal

28 Jul 2025

(Reuters) -London’s main stock indexes closed lower on Monday, pressured by industrial shares, while investors assessed a U.S.-EU trade deal along with economic data. The blue-chip FTSE 100 reversed earlier gains with a 0.4% fall, while the domestically focused midcap FTSE 250 index fell 0.8%. The U.S. struck a framework trade agreement with the EU …

Industrial stocks drag UK equities, investors assess US-EU trade deal Read More »

BTG Pactual to buy HSBC’s Uruguay operation for $175 million

28 Jul 2025

By Paula Laier SAO PAULO (Reuters) -Brazilian bank BTG Pactual on Monday said it will snap up HSBC’s operations in Uruguay for $175 million, marking its first foray into the Spanish-speaking country and expanding its presence in Latin America. By buying the London-listed bank’s Uruguay assets, BTG Pactual will operate in retail banking, corporate credit, …

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UK investment firms Hansa, Ocean Wilsons agree to merge in all-share deal

28 Jul 2025

(Reuters) -UK’s Hansa Investment and Ocean Wilsons Holdings have agreed to an all-share merger to create a diversified investment firm with more than 900 million pounds ($1.21 billion) in net assets, the companies said on Monday. Ocean Wilsons’ shareholders will get 1.4925 new Hansa share units, comprising one voting share and two non-voting ‘A’ shares, …

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