Reuters UK Business

Britain to allocate $116 billion to R&D in spending plan

8 Jun 2025

LONDON (Reuters) -British finance minister Rachel Reeves will allocate 86 billion pounds ($116 billion) in this week’s spending review to fund research and development, the Department for Science, Innovation and Technology (DSIT) said on Sunday. It said the package, funding everything from new drug treatments and longer-lasting batteries to artificial intelligence breakthroughs, would be worth …

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Frasers Group explores bid for Revolution Beauty, Sky News reports

7 Jun 2025

(Reuters) – Frasers Group has approached British makeup and skin care retailer Revolution Beauty about a potential offer for the company, Sky News reported on Saturday, citing retail industry sources. Reuters could not immediately confirm the report. (Reporting by Yazhini MV in Bengaluru; Editing by Louise Heavens)

ECB should watch out for price hikes from U.S. tariffs, Schnabel says

7 Jun 2025

By Francesco Canepa DUBROVNIK, Croatia (Reuters) -The European Central Bank has made “great progress” in taming inflation but it should watch out for fresh price hikes caused by U.S. tariffs, ECB policymaker Isabel Schnabel said on Saturday. The ECB cut interest rates on Thursday for the eighth time in the past year and signalled at …

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Rio Tinto in bailout talks for Australian aluminium smelter, AFR reports

7 Jun 2025

SYDNEY (Reuters) -Global miner Rio Tinto is in talks with Australian federal and state governments about a multibillion-dollar bailout for its struggling Tomago aluminium smelter in New South Wales state, the Australian Financial Review reported. The newspaper, citing sources it did not name, reported late on Friday that talks centred on the smelter’s electricity contract …

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UK’s Rosebank Industries raises $1.55 billion for US-based ECI’s acquisition

7 Jun 2025

(Reuters) -British investment firm Rosebank Industries on Friday said it will raise about 1.14 billion pounds ($1.55 billion) to finance the acquisition of U.S.-based Electrical Components International. Rosebank, which focuses on acquiring, enhancing and eventually selling businesses, had restarted talks to buy ECI earlier this week for under $1.9 billion. The British company finalised the …

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Switzerland hits UBS with $26 billion added capital requirement; shares rise

6 Jun 2025

By Ariane Luthi and Oliver Hirt BERN (Reuters) -The Swiss government on Friday proposed stricter rules for UBS following its takeover of Credit Suisse, which could make it hold $26 billion more in core capital, confirming some of the bank’s worst fears about incoming new regulations. The key proposal, which the bank would have six …

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Tesla shares gain after $152 billion selloff, but Trump-Musk truce uncertain

6 Jun 2025

By Akash Sriram (Reuters) -Tesla shares recouped some losses that had been triggered by a spat between CEO Elon Musk and U.S. President Donald Trump, even though a truce appeared uncertain on Friday as a White House official said the president was not keen on talking to his former ally. The stock rose nearly 4% …

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Four former Monte Paschi executives to stand trial in bad loans case

6 Jun 2025

MILAN (Reuters) -An Italian judge has ordered four former executives of bank Monte dei Paschi di Siena (MPS) to stand trial for alleged false accounting in 2015 and the first half of 2016 over the classification of impaired loans, judicial and legal sources said on Friday. Former presidents Alessandro Profumo and Massimo Tononi, former CEO …

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