Reuters UK Business

Foreign workers a key driver of euro zone growth, say ECB economists

FRANKFURT (Reuters) -Foreign workers accounted for much of the euro zone’s economic growth since the pandemic and could help the bloc overcome the economic constraints of an ageing and shrinking labour market, a European Central Bank study concluded on Thursday. Foreigners accounted for half of the bloc’s labour force growth in the past three years, …

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Norwegian Air cuts capacity forecast due to delayed Boeing deliveries, shares drop

By vera dvorakova and Elviira Luoma (Reuters) -Budget airline Norwegian Air reported a smaller-than-expected operating loss for the first quarter but cut its annual capacity guidance, sending its shares around 7% lower on Thursday. The Oslo-listed carrier sees an overall capacity of about 37,500 million seat kilometres in 2025, corresponding to growth of 3% from …

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Solvay flags continued market uncertainty, narrows 2025 core profit forecast

(Corrects company portfolio in paragraph 7) By Dimitri Rhodes and Noemie Naudin (Reuters) -Belgian chemicals group Solvay warned of continued uncertainty in its main markets fuelled by U.S. President Donald Trump’s tariffs, as it narrowed its 2025 adjusted core profit forecast, sending its shares down as much as 14% in early trade. “As we navigate …

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Sabadell ups payout goal amid BBVA takeover battle as profit tops forecasts

By Jesús Aguado MADRID (Reuters) -Sabadell raised on Thursday its payout target for 2024 and 2025, as the Spanish bank tries to fend off a hostile takeover by its larger rival BBVA, with quarterly profits surpassing forecasts despite pressure on lending income. BBVA wants to create a bank with more than 1 trillion euros in …

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Siemens Energy expects limited US tariff hit, raises prices for new orders

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Power equipment maker Siemens Energy expects a limited hit to profits from U.S. tariffs, citing price increases for new orders as well as a drive to find more local suppliers for parts it needs in its single biggest market. CEO Christian Bruch said most of the German …

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Mast operator Helios Towers beats quarterly estimates on higher demand

By Gianluca Lo Nostro (Reuters) -British telecoms infrastructure group Helios Towers reported on Thursday a higher than expected number of tenancies in the first three months of this year as mobile operators rented more towers for their cellular networks. First-quarter tenancies – the number of tower spaces leased to telecoms customers – rose 8.6% to …

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Italy’s Nexi beats first-quarter core profit expectations

By Alberto Chiumento (Reuters) -Italian payments group Nexi beat first-quarter core profit expectations on Thursday, boosted by its main merchant solutions business and cost control, and confirmed its financial guidance for the year. Group CEO Paolo Bertoluzzo told analysts that January-March was regarded as the “strongest quarter of the year”, and put the company on …

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Securitas shares down on first quarter profit miss

By Agnieszka Olenska, Jesus Calero (Reuters) -Securitas, one of the world’s largest security services providers, reported a smaller-than-expected rise in first-quarter core profit on Thursday owing to currency headwinds, sending it shares down 6.2% in early trade. The Swedish company said its quarterly operating earnings before amortisation rose to 2.53 billion Swedish crowns ($259.17 million) from …

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Kongsberg’s orders and profit soar on defence systems demand

By Marta Frackowiak (Reuters) -Norway’s Kongsberg said on Thursday its order intake and profits soared in the first quarter, driven by demand for missiles and air defence systems at a time when European nations are stepping up their defence spending. Kongsberg saw its quarterly order intake rise 63% from a year earlier to 20.74 billion …

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New Mediterranean fuel rule helps bring more Doba crude to Europe

By Enes Tunagur LONDON (Reuters) -Dutch and German oil refineries have snapped up all four cargoes of Chadian Doba crude in April to profit from soaring demand for cleaner marine fuel in Europe from shipping companies including Maersk, according to shipping data and trade sources. Asia was the main destination of Doba cargoes prior to …

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