LONDON (Reuters) -There was a rare piece of good news for Britain’s troubled water sector on Wednesday as Moody’s removed a key downgrade warning on South East Water’s credit rating following a 200 million pound cash injection from its owners last month. Moody’s lifted the outlook on SEW’s Baa3 rating to ‘stable’ from ‘negative’. It …
UK’s South East Water gets rating breathing room after cash injection Read More »
By Alistair Smout LONDON (Reuters) -British Prime Minister Keir Starmer said on Wednesday he was confident that tariffs on U.S. imports of British steel would be reduced to zero within a “couple of weeks”, avoiding a July deadline which could see the levies jump to 50%. Starmer and U.S. President Donald Trump last month agreed …
UK PM Starmer confident US deal will be implemented before tariff deadline Read More »
By Sergio Goncalves LISBON (Reuters) -Shareholders of Portugal’s Novo Banco on Wednesday approved key changes to its bylaws that would allow the lender to go ahead with a public listing, according to three sources with knowledge of the matter. The statutory change approved at a general meeting of shareholders would only become effective if an …
Novo Banco’s shareholders change bylaws for possible IPO, sources say Read More »
By Jan Strupczewski BRUSSELS (Reuters) -The European Commission and the European Central Bank gave Bulgaria the go-ahead on Wednesday to adopt the euro currency from the start of 2026, making Bulgaria the 21st country to join the single currency area. In a “convergence report” describing how Bulgaria’s economy dovetails with the rest of the euro …
EU gives Bulgaria green light to adopt euro from start of 2026 Read More »
MOSCOW (Reuters) – Russia’s oil and gas revenue fell by 35% year-on-year in May to 512.7 billion roubles ($6.55 billion), data from the finance ministry showed on Wednesday, as weakening oil prices and sanctions weighed on the country’s economy. Russia needs higher oil prices to balance its budget and fund its military operation in Ukraine. …
Russia’s oil and gas budget revenue falls by more than a third in May Read More »
By Raechel Thankam Job (Reuters) -Discount retailer B&M said on Wednesday annual underlying UK sales fell short of its target and that higher costs would pressure profits in its new financial year, sending its shares more than 10% lower. British retailers are bracing for a difficult year as rising taxes and wages increase their costs …
Discount retailer B&M shares fall 10% after drop in UK sales Read More »
By Nathan Vifflin (Reuters) -STMicroelectronics’ CEO said on Wednesday that the French-Italian chipmaker has seen signs of an upcycle — a period of increased market demand — which will boost its results in the coming quarters, unless trade tensions disrupt the positive developments. Chipmakers exposed to the automotive, industrial and personal electronics markets like STMicro …
STMicro CEO sees signs of market upturn, but stays cautious of geopolitics Read More »
By Javi West Larrañaga MADRID (Reuters) -Unions at Iberdrola called on 9,000 workers in Spain to strike on Friday to demand higher salaries and fewer working hours, in what they said would be the first such stoppage in the company’s more than 100-year history. Europe’s largest utility raised the wages of its workers by an …
Iberdrola unions call on more than 9,000 workers in Spain to strike Read More »
MILAN (Reuters) -A group of Italian investors in the Italian merchant bank Mediobanca, holding a total stake of 11.9%, broadly backed the proposed bid for private bank Banca Generali in a meeting on Wednesday, two of the shareholders said. Mediobanca proposed buying Banca Generali in April as it seeks to stave off a buyout bid …
Italian Mediobanca investors holding 11.9% stake back Banca Generali bid Read More »
BRUSSELS (Reuters) -The European Commission urged EU governments on Wednesday to speed up the implementation of reforms and investments so that they manage to spend the billions of euros still available to them in the EU’s Recovery fund before the August 2026 deadline. EU governments have some 750 billion euros available to them, in grants …
