Reuters UK Business

Spanish hotel group Room00 raises $444 million to fund London expansion

13 May 2025

MADRID (Reuters) -Spanish hotel group Room00 said on Tuesday it had raised 400 million euros ($444.4 million) in new equity from investment fund King Street Capital Management to finance its expansion in London. The company did not disclose its valuation after the capital injection. The privately held company runs 50 high-end hostels in Spain, Italy …

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British pub group Marston’s swings to profit on cost cuts and strong sales

13 May 2025

(Reuters) -British pub group Marston’s swung to a half-year pre-tax profit on Tuesday, helped by its cost-efficiency actions and higher food and beverage sales thanks to favourable weather. The company said underlying pre-tax profit for the six months ended March 29 came to 19 million pounds ($25.08 million), compared with a loss of 0.2 million …

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UK’s Wickes Group revenue rises 5.5% but cost pressures loom

13 May 2025

(Reuters) -British home improvement retailer Wickes Group reported a 5.5% rise in like-for-like revenue for the 17 weeks to April 26 on Tuesday but warned that the business faced “significant” cost headwinds and consumer outlook remains uncertain. British firms are facing increased expenses due to a rise in social security contributions and minimum wages, while …

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German reinsurers post profit falls after $1.9 billion Los Angeles fire claims

13 May 2025

By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Germany’s largest reinsurers, Munich Re and Hannover Re, reported sharp declines in first-quarter profit on Tuesday after a combined 1.7 billion euros ($1.89 billion) in claims relating to the Los Angeles wildfires this year. The wildfires killed nearly 30 people and damaged more than 16,000 structures, charring …

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Auto leasing group Leasys aims to double its fleet of low-emission vehicles by 2026

13 May 2025

By Giulio Piovaccari TURIN, Italy (Reuters) -Auto leasing group Leasys aims to nearly double the share of low-emission vehicles — electric and hybrid — in its fleet by next year, CEO Rolando D’Arco said, as rapid changes in electric technology pose challenges for the industry. A 50-50 joint venture between Stellantis and France’s Credit Agricole, …

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Morning Bid: With a hiatus in the trade war, it is back to the grind

13 May 2025

A look at the day ahead in European and global markets from Rocky Swift  With markets given another reprieve from a global trade war, attention refocuses on more quotidian cues, like economic data and corporate earnings. Six weeks into the turmoil spurred by U.S. President Donald Trump’s “Liberation Day” tariffs, the recurring lessons seem to …

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ECB to stand by past stimulus policies in strategy review

13 May 2025

By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank will stand by its aggressive stimulus policy of the last decade in a strategy review, side-stepping calls for self-criticism after a bout of high inflation and sizeable losses, several ECB policymakers told Reuters. The review, which began in March, will address some big …

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Spain investigates cyber weaknesses at small power plants after blackout, FT reports

13 May 2025

(Reuters) -Spain is demanding information from small electricity generators on their cyber defences as investigators probing last month’s blackout seek to determine whether they were a weak link exploited by bad actors to bring down the country’s power grid, the Financial Times reported on Tuesday. Senior government officials have “concerns” about the robustness of cyber …

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