Reuters UK Business

Extreme weather could cause 5% drop in euro zone GDP, bank watchdogs find

9 Jul 2025

By Virginia Furness LONDON (Reuters) -Extreme weather events such as heatwaves, flooding and wildfires could wipe as much off euro zone GDP in the next five years as the global financial crisis or the COVID-19 pandemic, a senior European Central Bank official said on Wednesday. A series of severe weather-related events could cause an almost …

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Bank of England relaxes mortgage lending rules to help boost growth

9 Jul 2025

By Lawrence White and David Milliken LONDON (Reuters) -British banks and building societies will be able to issue more potentially risky mortgages, the Bank of England said on Wednesday, as it sought to help the government’s push to boost home ownership. Individual lenders will now be able to exempt more mortgage borrowers from loan-to-income limits …

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Venture Global to supply additional LNG to German firm from Calcasieu Pass 2

9 Jul 2025

By Katha Kalia (Reuters) -Venture Global will supply an additional 0.75 million tonnes per annum of liquefied natural gas to Germany-based distributor SEFE Energy GmbH, the two companies said on Wednesday. Shares of the U.S. LNG producer rose 1.7% in morning trade. Venture Global will supply the LNG from Calcasieu Pass 2 (CP2) project for …

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Merck to acquire Verona Pharma for $10 billion

9 Jul 2025

(Reuters) -Merck will buy UK-based Verona Pharma for about $10 billion, the companies said on Wednesday, strengthening the U.S. firm’s presence in respiratory treatments as it readies for the patent expiry of its blockbuster cancer drug. (Reporting by Christy Santhosh in Bengaluru; Editing by Sriraj Kalluvila)

Thames Water grants bonuses despite UK opposition, government documents show

9 Jul 2025

(Reuters) -Britain’s Thames Water awarded bonuses worth 2.5 million pounds ($3.40 million) to its senior staff despite efforts by the country’s government to block the payments, according to documents shared by the UK Parliament’s environment committee. In a letter to the committee, Thames Water chairman Sir Adrian Montague said no discussions have been held with …

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UBS continues to see opportunity in the U.S., CEO tells Fox Business

9 Jul 2025

(Reuters) -UBS continues to see a lot of opportunity in the United States, the Swiss bank’s CEO Sergio Ermotti told Fox Business’ “Mornings with Maria” program. “This is the reason why we keep investing in our franchise,” Ermotti said. While clients needed certainty on tariffs to make investments, UBS still saw a lot of growth …

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France’s Veolia launches $95 million plastic recycling project in Britain

9 Jul 2025

(Corrects paragraph 3 after company corrected Veolia UK CEO’s quote to reflect that 2.2 million tons of plastics are available to be recycled, not actually recycled each year in the United Kingdom) (Reuters) -French environment services provider Veolia has invested 70 million pounds ($95 million) to build its largest yet plastic recycling facility in Britain, …

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How US buyers of critical minerals bypass China’s export ban

9 Jul 2025

BEIJING (Reuters) -Unusually large quantities of antimony – a metal used in batteries, chips and flame retardants – have poured into the United States from Thailand and Mexico since China barred U.S. shipments last year, according to customs and shipping records, which show at least one Chinese-owned company is involved in the trade. China dominates …

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Airbus wins contract for advanced Spanish military radar satellites

9 Jul 2025

(Reuters) -Airbus’ Defence and Space unit has been selected by Spanish satellite operator Hisdesat to build two advanced PAZ-2 radar satellites for Spain’s defence ministry, the company said on Wednesday. The satellites will provide round-the-clock radar imagery for military intelligence and surveillance as well as civilian applications including disaster assessment, and will replace the current …

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Ad group WPP cuts outlook after big client losses, shares plunge

9 Jul 2025

By Paul Sandle and Sarah Young LONDON (Reuters) -British ad group WPP slashed its profit guidance after some big clients left, others cut spending and new business dried up in June, putting it further behind Publicis in an industry navigating the impacts of AI and economic uncertainty. The downgrade from the world’s second-largest advertising group, …

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