Dec 17 (Reuters) – German defense manufacturer Rheinmetall said on Wednesday it has initiated the sale of its civil business activities and will classify them as discontinued operations with immediate effect. The company said the sale, which includes its Power Systems division, is part of a strategy to focus the group’s activities on its core …
Rheinmetall to sell civil business, takes 350 million euro impairment Read More »
By Philip Blenkinsop BRUSSELS, Dec 17 (Reuters) – The European Union struck a provisional deal on Wednesday to set tighter controls on imports of farm products resulting from a planned trade agreement with South American bloc Mercosur, potentially meeting some complaints of critics of the deal. The EU and the bloc of Argentina, Brazil, Paraguay …
EU reaches initial agreement on tighter EU-Mercosur safeguards Read More »
By Jessica DiNapoli and Abigail Summerville NEW YORK, Dec 17 (Reuters) – Kraft Heinz’s decision to tap Steve Cahillane – the dealmaker who steered Kellogg through one of the packaged food industry’s biggest breakups – signals the ketchup maker may be positioning itself for major asset sales as it pushes ahead with its own split, …
Kraft Heinz’s new CEO to oversee corporate split, possible asset sales Read More »
Dec 17 (Reuters) – The White House is set to announce drug pricing deals with pharmaceutical giants Novartis and Roche Holding as soon as Friday, Bloomberg News reported on Wednesday, citing people familiar with the situation. Other drugmakers could also be included in the announcement, and the details remain in flux, the report said. The …
Novartis, Roche near US drug price deal, Bloomberg News reports Read More »
LONDON, Dec 17 (Reuters) – Britain plans to overhaul broad rules governing financial benchmarks to ease industry’s compliance burden and focus regulation only on benchmarks that pose significant risks to the financial system, the finance ministry said on Wednesday. Industries such as commodity trading, foreign exchange, bond issuance and derivatives clearing rely on a wide …
Britain to overhaul benchmark rules to cut industry burden Read More »
Dec 17 (Reuters) – Proposed changes to the European Union’s carbon border adjustment mechanism are a step in the right direction for Europe’s steel and aluminium sectors but not a complete solution, industry representatives said on Wednesday. The European Commission earlier on Wednesday announced proposals to expand the scope of the CBAM – which will …
EU carbon tax changes for metals are not enough, industry says Read More »
Dec 17 (Reuters) – Raiffeisen Bank International announced on Wednesday that its former Chief Financial Officer Michael Hoellerer would take over as CEO of the Austrian lender starting in July 2026. Hoellerer will replace Johann Strobl, who will continue to manage the business as CEO until then and step down from the management board at …
Austria’s Raiffeisen names former executive Hoellerer as new CEO Read More »
By Ragini Mathur and Twesha Dikshit Dec 17 (Reuters) – European shares were little changed on Wednesday with losses in technology stocks offsetting strong performance from basic resources amid lingering concerns over sky-high, AI-fuelled tech valuations. UK markets, meanwhile, advanced after inflation data firmed rate cut bets. The pan-European STOXX 600 closed flat at 579.84, …
European equities muted as tech valuation concerns linger; UK markets outperform Read More »
WARSAW, Dec 17 (Reuters) – The Polish financial regulator (KNF) has given a green light to Erste Group Bank AG’s purchase of a controlling stake in Santander Bank Polska, it said in a statement on Wednesday. Spain’s Santander, the bank’s parent company, agreed to sell a 49% stake in its Polish unit to Erste Group …
Polish financial regulator gives green light for Erste’s takeover of Santander Read More »
MADRID, Dec 17 (Reuters) – Spanish telecoms giant Telefonica said on Wednesday it would delist its American Depositary Shares (ADS) from the New York Stock Exchange, citing the administrative burden and cost of keeping them listed. The move comes as Telefonica seeks to streamline its business under the new five-year strategic plan unveiled last month …
Telefonica to delist ADSs from NYSE over cost, administrative burdens Read More »
