Reuters UK Business

By Juveria Tabassum and Helen Reid (Reuters) -Nike said it would cut its reliance on production in China for the U.S. market to mitigate the impact from U.S. tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue, sending its shares up 11% in extended trading. U.S. President Donald Trump’s sweeping tariffs on imports …

Nike plans to reduce reliance on China production for US market to soften tariff blow Read More »

By Andreas Rinke and Michel Rose BRUSSELS (Reuters) -European Union leaders discussed new proposals from the United States on a trade deal at a summit in Brussels on Thursday, with Commission President Ursula von der Leyen not ruling out tariff talks could fail and saying “all options remain on the table”. Time is running out …

EU leaders discuss new US trade proposal as deal clock ticks down Read More »

(Reuters) -Britain’s vehicle production declined from a year ago for the fifth successive month in May, industry data showed on Friday, as factory disruptions and U.S. tariffs weighed on automakers. UK car and commercial vehicle production dropped 32.8% from a year ago to 49,810 units last month, marking the worst percentage drop in May output …

UK made fewer vehicles for the fifth straight month in May as tariffs bite Read More »

(Reuters) -J.P. Morgan has hired Anthony Diamandakis as the vice chair of its strategic investors group as it ramps up its push to strengthen ties with asset managers and financial sponsors, according to a memo seen by Reuters on Thursday. Diamandakis was most recently a top dealmaker at Citigroup, where he spent nearly 11 years. …

J.P. Morgan hires veteran dealmaker Diamandakis to deepen ties with financial sponsors Read More »

By Kylie Madry (Reuters) -London-based fintech giant Revolut will acquire a local lender owned by BNP Paribas in Argentina, it said on Thursday, marking the digital bank’s latest foray into Latin America. The terms of the deal to purchase Cetelem Argentina from BNP Paribas Personal Finance, which is subject to regulatory approval, were not disclosed. …

Revolut to acquire BNP Paribas-owned Argentine lender in market expansion Read More »

By Scott Murdoch SYDNEY (Reuters) -Bain Capital partner Mike Murphy is confident Virgin Australia’s domestic business focus will help the airline withstand travel disruptions and oil price volatility created by the ongoing Middle East tensions. Bain, which bought Virgin for A$3.5 billion ($2.3 billion)including liabilities in 2020, raised A$685 million when Australia’s second largest airline …

Virgin Australia can ride out Middle East volatility, private equity boss says Read More »

By Simon Jessop LONDON (Reuters) -U.S. and Asian investors are looking to Europe after a pullback in U.S. government support for domestic projects linked to the transition to a low-carbon economy, Tony Dalwood, CEO of investment manager Gresham House, said. Since taking office, U.S. President Donald Trump has moved to cut various environmental initiatives, regulations …

Gresham House CEO sees US clients looking to Europe for green investments Read More »