BELGRADE (Reuters) -The Sofia city prosecutor’s office said on Wednesday it had conducted an investigation into a 2023 gas deal between Turkish state gas company Botas and Bulgaria’s Bulgargaz and searched the home of a former energy minister. Bulgargaz and Botas signed a 13-year deal in 2023, allowing Bulgargaz to use Turkey’s LNG terminals for …
Bulgaria prosecutors investigate gas deal with Turkey Read More »
FRANKFURT (Reuters) -Porsche expects a 300 million euro ($351 million) hit to results as a consequence of absorbing U.S. import tariffs in April and May, the luxury sportscar manufacturer said in slides published after an investor call ahead of quarterly results. The company had previously spoken only of a hit in low triple-digit million euros …
Porsche expects $351 million tariff hit for April and May Read More »
(Reuters) -The UK’s FTSE 100 closed slightly higher on Wednesday, as investors monitored developments around U.S. tariff talks, while ad firm WPP slumped after it slashed its profit forecast. WPP’s stock fell about 19%, its biggest single-day percentage drop in more than three decades, as the company cut guidance after some big clients left, others …
FTSE 100 ends slightly higher as investors watch US tariff talks, WPP slumps Read More »
By Valentina Za and Tom Sims MILAN (Reuters) -UniCredit met renewed German opposition on Wednesday to its takeover ambitions for Commerzbank after it doubled its voting stake in the rival, pending an Italian court ruling on its bid for domestic target Banco BPM. After years of record profits boosted by high interest rates, Italian banks …
UniCredit irks Germany with Commerzbank manoeuvre pending court ruling Read More »
BERLIN (Reuters) -A German finance ministry said on Wednesday that the government remains opposed to a possible takeover bid by UniCredit for Commerzbank, after the Italian bank took a bigger stake in its German competitor. “The federal government supports Commerzbank’s strategy of independence. The federal government has already made this very clear to UniCredit,” a …
LONDON (Reuters) -The Bank of England said on Wednesday it had fined payment systems firm Vocalink Ltd 11.9 million pounds ($16.19 million) for falling short of its obligation to have adequate risk management and governance arrangements. Owned by U.S. payment processor Mastercard, Vocalink designs, builds and operates bank account-based payment systems in Britain, processing over …
Bank of England fines Vocalink more than $16 million for compliance failure Read More »
By Saeed Azhar NEW YORK (Reuters) -Global banks including top U.S. lenders are expected to report a 10% gain in markets revenue as traders cashed in on shifting U.S. tariff policies, according to estimates from analysis firm Crisil Coalition Greenwich. The projections follow a 15% gain in trading revenue in the first quarter for 12 …
Global banks predicted to get 10% trading revenue boost on tariff turmoil Read More »
(Reuters) -Europe’s largest sugar producer Suedzucker said on Wednesday that it expects significantly lower earnings for the second quarter compared with the previous year’s levels, citing a slow start to the quarter. Suedzucker also confirmed its full-year guidance, aiming for revenues between 8.7 billion and 9.2 billion euros ($10.19 billion -10.78 billion) and group earnings …
Suedzucker expects significantly lower second quarter earnings Read More »
By Nigel Hunt LONDON (Reuters) -Coffee maker Lavazza on Wednesday called for the European Union’s deforestation law to be delayed by a further year, saying implementation would hurt producers in Africa and Central America and drive up prices. The proposed law, which aims to end the estimated 10% of global deforestation fuelled by EU consumption, …
Coffee maker Lavazza calls for further delay to EU deforestation law Read More »
BRUSSELS (Reuters) -The European General Court on Wednesday ruled against German company sprd.netrd.net in its bid to trademark the “I love” sign, with a heart symbolizing ‘love,’ for clothing items such as t-shirts, sweatshirts, and pullovers. The Court upheld the European Union Intellectual Property Office’s (EUIPO) 2022 rejection of sprd.net’s trademark applications. The company had …
EU Court rules ‘I love’ sign cannot be trademarked for clothing Read More »
