Reuters UK Business

Poland’s LPP cuts 2025/26 sales outlook, blames unseasonably cold spring

12 Jun 2025

By Marta Maciag (Reuters) -Poland’s biggest fashion retailer LPP reported on Thursday a better-than-expected first-quarter net profit but lowered its sales forecast for the 2025/26 financial year, blaming sluggish market conditions due to unseasonably cold weather. LPP, owner of fashion chain Reserved and other brands located mostly in central Europe, said net profit for the …

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Germany to return to growth after two years of contraction, economists predict

12 Jun 2025

By Maria Martinez BERLIN (Reuters) -The German economy is expected to grow this year following two consecutive years of contraction, four economic institutes said on Thursday, raising their forecasts for 2025 and 2026. The Kiel Institute for the World Economy (IfW) raised its forecast to 0.3% growth from the stagnation it had previously envisaged due …

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Bank of England allocates record 68.929 billion pounds at short-term repo

12 Jun 2025

LONDON (Reuters) -The Bank of England on Thursday allotted a record 68.929 billion pounds ($93.52 billion) in seven-day funds in its weekly short-term repo operation, higher than a previous record of 68.106 billion pounds last week. BoE official Vicky Saporta said on Wednesday that banks operating in Britain should make more use of the BoE’s …

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TotalEnergies forms AI partnership with French startup Mistral

12 Jun 2025

By America Hernandez (Reuters) -French oil major TotalEnergies has partnered with artificial intelligence (AI) startup Mistral to build digital tools it hopes will boost the performance of its energy business and industrial assets, boost energy efficiency and reduce its environmental impact, it said on Thursday. The collaboration has already begun, with teams meeting at both …

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Spain’s Multiverse raises $217 million for compressing AI models

12 Jun 2025

PARIS (Reuters) -Spanish AI firm Multiverse Computing said on Thursday it has raised 189 million euros ($217 million) from investment firm Bullhound Capital, HP Inc, Forgepoint Capital and Toshiba, to compress AI language models. The company said it has developed a compression technology capable of reducing the size of large language models (LLMs) by up …

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Paris airshow set for new jet orders despite conflict, tariff gloom

12 Jun 2025

By Tim Hepher and Joe Brock PARIS (Reuters) -Aerospace manufacturers will aim to project business as usual with big-ticket aircraft orders at next week’s Paris Airshow, despite U.S. tariffs, escalating conflicts and fragile supply chains rattling the global aviation and defence industries. The world’s largest aviation trade show, running from June 16 to 20 in …

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Hungary’s government to privatise majority of its stake in the defence industry

12 Jun 2025

BUDAPEST (Reuters) -Hungary’s government plans to sell a large slice of its stake in its defence industry, which includes a holding in Rheinmetall’s local factory, to 4iG Group, the Economy Ministry said late on Wednesday. The move comes as nationalist Prime Minister Viktor Orban’s government gears up for an election next year, where he is …

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Ifo institute raises German growth forecasts due to new government plans

12 Jun 2025

By Maria Martinez BERLIN (Reuters) -The Ifo institute on Thursday raised its forecasts for the German economy for this year and next, expecting new government measures and a spending surge to boost the anaemic economy. The economic institute said it expects 0.3% growth this year, up from the 0.2% previously forecast. For 2026, Ifo foresees …

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Deutsche Bank’s deal-making business weaker than expected, CEO says

12 Jun 2025

By Tom Sims and Matthias Inverardi FRANKFURT (Reuters) -Deutsche Bank’s origination and advisory business is not as strong as the German bank had expected as companies postpone decisions due to U.S. tariff policies, CEO Christian Sewing said on Thursday. Sewing, the chief of Germany’s largest lender, said at a financial conference that the deal-making business …

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EU plans energy saving measures for data centres

12 Jun 2025

BRUSSELS (Reuters) -The European Union is preparing a package of measures to improve data centres’ energy savings, the bloc’s energy commissioner said on Thursday. “I will propose a data centre energy efficiency package,” EU energy commissioner Dan Jorgensen told a conference in Brussels, without providing further details. Data centres account for 3% of EU electricity …

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