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German court rejects KNDS injunction to keep Triton from selling Renk shares

13 May 2025

FRANKFURT (Reuters) – A court in Frankfurt on Tuesday said it had rejected a request by Franco-German defence contractor KNDS for an injunction to block private equity group Triton Partners from selling shares in German tank gearbox maker Renk. Sources familiar with the transaction told Reuters earlier on Tuesday that KNDS had taken legal action …

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BlackRock’s Fink sees trillions of dollars idle as volatility persists

13 May 2025

RIYADH (Reuters) -BlackRock CEO Larry Fink says tens of trillions of dollars of financial firepower is sitting idle in cash amid trade war worries and uncertainty over the United States economy, whose deficits are beginning to spook investors. “There is 12 trillion euros sitting in bank accounts in Europe. In the United States, there’s $11 …

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Bayer posts smaller than expected drop in adjusted profit, shares jump

13 May 2025

By Ludwig Burger FRANKFURT (Reuters) -Bayer on Tuesday posted a smaller decline in first-quarter adjusted earnings than investors had feared as strong prescription numbers for new drugs offset a drop in its seed businesses, boosting its shares. CEO Bill Anderson is under pressure from investors to deliver on restructuring efforts and to reverse what is …

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How should Norway spend its cash? Solve global problems, says citizen panel

13 May 2025

By Gwladys Fouche OSLO (Reuters) -Norway’s $1.8 trillion wealth fund, the world’s largest, should invest more money in sectors addressing global challenges such as climate change and health and accept it may get lower returns on these investments, a citizens’ panel said on Tuesday. The initiative, a nationwide consultation on what the country should do …

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ECB’s Makhlouf warns uncertainty will persist even if trade war passes

13 May 2025

DUBLIN (Reuters) -Uncertainty in the global economy is likely to persist even if a global trade war proves short-lived, European Central Bank governing council member Gabriel Makhlouf said in a speech on Tuesday. “Even if a full-blown trade war turns out to be short-lived, the uncertainty effects will persist for some time,” said Makhlouf, the …

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UK jobs market cools further, offering some relief to Bank of England

13 May 2025

By William Schomberg and Suban Abdulla LONDON (Reuters) -Britain’s jobs market cooled again last month, according to data that showed the impact of a tax hike on employers and Donald Trump’s trade tariffs but is likely to give some reassurance to the Bank of England that inflation pressures are waning. Provisional tax office figures published …

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Fraport’s profit hit by higher wages, location costs in Frankfurt Airport

13 May 2025

By Amir Orusov (Reuters) -Frankfurt Airport operator Fraport’s core earnings fell more than expected in the first quarter, hit by wage increases and high location costs in Germany’s busiest airport. The German aviation industry is facing several challenges from worker protests to high taxes and fees. Those increased costs have prompted airlines – including low-cost …

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Commerzbank’s priority is quick execution of standalone strategy, CEO says

13 May 2025

FRANKFURT (Reuters) -Commerzbank’s priority is the execution of its own strategy and that markets can see what the lender can achieve as a standalone company, CEO Bettina Orlopp plans to tell shareholders at an annual meeting this week. The prepared remarks, published by Commerzbank on Tuesday for delivery on Thursday, come as the German bank …

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