By Andy Bruce MANCHESTER, England (Reuters) -Britain’s government kicked off the 2025/26 financial year in April by again borrowing more than expected, suggesting no let-up in the pressure on the public finances ahead of a major review of spending. Public sector net borrowing was 20.155 billion pounds ($27 billion) in April, according to official data. …
UK budget strains deepen ahead of Reeves’ spending review Read More »
By Leo Marchandon and Gianluca Lo Nostro (Reuters) -Iliad said on Thursday it was not in talks with Telecom Italia over a potential tie-up, after the French telecoms group reported upbeat earnings driven by strong subscriber growth in Italy. Telecommunications providers in Italy are pushing for consolidation to overcome intense price competition, aiming to reduce …
(Reuters) -Allegro reported a nearly 5% rise in its domestic first-quarter earnings and confirmed its full-year outlook on Thursday, as Poland’s leading e-commerce platform fends off competition from the likes of Temu. “Not only is the number of active buyers rising in Poland and internationally, but they also continue to spend more with us on …
Poland’s Allegro confirms outlook as Q1 earnings rise Read More »
MILAN (Reuters) -Banco BPM on Thursday urged suitor UniCredit to abandon its buyout offer, given the bank led by CEO Andrea Orcel has told authorities it cannot comply with the conditions Rome has imposed to authorise the BPM takeover. UniCredit on Wednesday secured from market regulator Consob a 30-day suspension of its tender offer for …
Banco BPM urges UniCredit to drop bid if it can’t meet govt’s demands Read More »
By Sudip Kar-Gupta PARIS (Reuters) -France’s private sector continued to contract in May, marking the ninth consecutive month of decline, as weakness in the services sector weighed on the euro zone’s second-biggest economy, according to S&P Global’s HCOB Flash France PMI survey. The flash PMI for France’s dominant services sector stood at 47.4 points in …
France’s private sector contracts for ninth month in May, PMI shows Read More »
(Reuters) -British gas producer Energean narrowed its annual production forecast on Thursday and said it was actively looking for merger and acquisition prospects after its failed deal to sell some assets to private equity fund Carlyle. In March, Energean scrapped a deal to sell its Egypt, Italy and Croatia portfolio to Carlyle due to delays …
UK gas producer Energean cuts production outlook, seeks deals to bolster output Read More »
MILAN (Reuters) -Italy’s biggest insurer Generali posted a higher profit for the first quarter, as it prepares to review a bid from its biggest investor Mediobanca to acquire the group’s private banking unit Banca Generali. Operating profit, the figure most closely watched by the market, grew 8.9% year-on-year in the quarter to 2.1 billion euros ($2.4 …
Generali profit rises more than forecast ahead of Banca Generali bid review Read More »
LONDON (Reuters) -Britain’s Financial Services Compensation Scheme said it would impose a lower than expected 356 million pounds ($478.04 million) levy on the sector for the 2025/2026 financial year, after a “strong year” in recovering cash from failed firms. In a statement on Thursday, the FSCS – which protects customers of authorised financial services firms …
UK’s Financial Services Compensation Scheme cuts 2025/2026 levy on sector Read More »
MADRID (Reuters) -Spanish telecom company Telefonica said on Wednesday it agreed to sell its Uruguayan unit for $440 million to Luxembourg-based Millicom International as part of its strategy to exit Spanish-speaking Latin America. At the end of the transaction Millicom, which operates telecom companies all over Latin America under the brand Tigo, will buy 100% …
Telefonica sells Uruguay unit to Millicom for $440 million Read More »
GDANSK (Reuters) -Polish energy group Orlen posted a 54% rise in first-quarter net profit on Thursday, as strong upstream performance helped offset lower sales and refining margins. The company’s net result for the quarter stood at 4.28 billion zlotys ($1.14 billion), below the 4.67 billion zlotys forecasted by analysts polled by Reuters. ($1 = 3.7445 …
Poland’s Orlen first-quarter net profit rises on upstream gains Read More »
