Reuters UK Business

(Refiles to change reporting credits) MILAN (Reuters) -Italy’s Monte dei Paschi is focused on its takeover offer for Mediobanca, its chief executive said on Thursday, adding further deals would be something the state-backed bank could consider only in the future. In a television interview with Class CNBC, Monte dei Paschi (MPS) CEO Luigi Lovaglio was …

Italy’s MPS focused on Mediobanca deal, CEO says after UniCredit drops BPM bid Read More »

By Stefania Spezzati and Andrew MacAskill LONDON (Reuters) -An investigation commissioned by Boston Consulting Group has found that some of its U.S.-based staff sidestepped its risk controls to do work related to the Gaza Humanitarian Foundation and to “post-war reconstruction” for the Palestinian enclave, the consulting firm said. In a response to a British parliamentary …

BCG says some of its staff circumvented its controls in Gaza work Read More »

(Reuters) -Swiss drugmaker Novartis will pay up to $1 billion to U.S. biotech Matchpoint Therapeutics to develop oral drugs for several inflammatory diseases. Matchpoint said on Thursday it will use its technology to develop drugs that block the activity of a specific protein, helping to lower the production of inflammation-causing signals. The company will lead …

Novartis to pay Matchpoint up to $1 billion to develop anti-inflammatory therapies Read More »

By Nicole Jao and Tanay Dhumal (Reuters) -Refiner Valero Energy beat Wall Street estimates for second-quarter earnings on Thursday, despite reporting lower profits from the previous year, as a rebound in refining margins helped cushion losses in the renewable diesel segment. Its shares were down around 4% at noon. The first major refiner to post …

Valero beats estimates as refining margins offset renewable diesel loss Read More »

By Kate Abnett and Riham Alkousaa BRUSSELS/BERLIN (Reuters) -The European Union’s expansion of solar energy is on track for its first annual slowdown in more than a decade, industry data showed on Thursday, as some governments reduce subsidies for rooftop solar panels. The trend reflects shifting political priorities in Europe as some member countries have scaled …

EU solar energy rollout slows for first time in decade as subsidies cut Read More »

By Alessandro Parodi (Reuters) -French car parts supplier Valeo cut its 2025 sales outlook on Thursday, citing an adverse currency impact of 750 million euros ($883 million). The company is the latest to flag forex risks in its quarterly reports, after United States President Donald Trump’s April 2 tariff bombshell triggered market chaos and sent …

Valeo cuts 2025 sales outlook, sees 750 million euros impact from weak dollar Read More »

By Helen Reid LONDON (Reuters) -Carrefour, Europe’s biggest food retailer, has agreed to sell its loss-making business in Italy to food and drinks manufacturer NewPrinces Group as part of a strategic review kicked off earlier this year. The sale of Carrefour Italy, which operates 1,188 stores but made a 67 million euro ($78.85 million) operating …

Carrefour to sell Italy business, reports improving sales growth Read More »

By Forrest Crellin PARIS (Reuters) -France’s EDF posted a 17% drop in first-half core profit on Thursday, after low European power prices eroded earnings from higher nuclear power output. The state-owned utility said earnings before interest, taxes, depreciation and amortisation (EBITDA) for the six months to end-June came to 15.5 billion euros ($18.24 billion), down …

EDF posts 17% drop in first-half profit on low power prices Read More »