Reuters UK Business

ST PETERSBURG, Russia (Reuters) -German Gref, CEO of Russia’s dominant lender Sberbank, on Wednesday said he did not see any potential benefits to Russia’s development of the digital rouble beyond the possible exception of cross-border settlements. Russian banks will be required to offer customers the means to make payments using digital roubles from September 1, …

Sberbank CEO puzzled by Russia’s push to create digital rouble Read More »

PARIS (Reuters) -France needs to get its public finances back on track this year or risk pressure from unforgiving financial markets to do so in the future, the national public audit office said on Wednesday. Centrist Prime Minister Francois Bayrou is struggling to get public finances back under control after spending spiralled higher last year …

France must squeeze spending or risk market backlash, says auditor Read More »

By America Hernandez PARIS -The TotalEnergies West of Shetland offshore assets it agreed to sell to Prax Group last year remain under the French oil major’s ownership, it said on Wednesday, so will not be subject to disposals resulting from liquidation proceedings affecting the British company. “The transaction to sell our West of Shetland asset …

TotalEnergies UK gas assets to be bought by Prax remain unsold Read More »

FRANKFURT (Reuters) -German car parts supplier Continental AG said on Wednesday headwinds related to U.S. import tariffs and foreign exchange rates would hit sales and profits at its core tyre division in the second quarter. Quarterly sales at the division are expected to decrease slightly while the adjusted EBIT margin would likely come in at …

Continental AG expects tariffs, foreign exchange to weigh on Q2 tyre margins Read More »

(Reuters) -Glencore said on Wednesday it will buy back shares worth $1 billion starting next week following the merger of global agribusiness Bunge Global with its grain handler Viterra. The miner, which will hold 16.4% of the enlarged company and $900 million in cash, considers NYSE-listed Bunge shares as surplus capital. (Reporting by Prerna Bedi …

Glencore announces $1 billion share buyback Read More »

MILAN (Reuters) -Italian fashion house Giorgio Armani said on Wednesday its core profit dropped 24% last year hit by declining revenues and a slight increase in operating costs. The unlisted Milanese group said it retained a long-term approach in the face of the difficulties facing the luxury industry, which is wrestling with slower demand in …

Giorgio Armani posts 24% core profit drop in tough 2024, steps up investments Read More »