Reuters UK Business

Norway’s Telenor lags first-quarter core earnings expectations

6 May 2025

By Elviira Luoma (Reuters) -Norwegian telecom operator Telenor reported first-quarter core operating earnings slightly below analysts’ estimates on Tuesday but said it had continued to grow service revenues above inflation on an organic basis in the Nordics. The company also said it sees no direct impact from U.S. tariffs, adding that in general, the telecom …

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Russia’s oil price in roubles at two-year low, 40% below budgeted level, data shows

6 May 2025

MOSCOW (Reuters) -Russia’s oil price in roubles has fallen to a two-year low below the 4,000 rouble per barrel mark and some 40% lower than planned in the federal budget, data showed, piling pressure on the Kremlin, already saddled with a burgeoning budget deficit. Driven by expectations that production will exceed consumption, global oil prices …

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Australia’s Aurizon flags 200 job cuts, potential hit to full-year earnings

6 May 2025

(Reuters) -Australia’s Aurizon Holdings is looking to potentially cut 200 full-time job roles across its business after an ongoing assessment of its non-operational cost base, the rail freight operator said post trading hours on Tuesday. The firm had mentioned in its half-year results in February that it would implement “additional efficiency improvements” during the current …

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Spanish services sector growth slows in April on global uncertainty, PMI shows

6 May 2025

MADRID (Reuters) – Spain’s services sector expanded at a slower pace in April than in the previous four months on concerns over tariffs and other market uncertainties, a survey showed on Tuesday. The HCOB Spain Services PMI Business Activity Index, computed by S&P Global, fell to 53.4 in April from 54.7 in March, marking the …

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Philips cuts annual profit estimates as trade war clouds outlook

6 May 2025

By Alessandro Parodi (Reuters) – Dutch healthcare technology company Philips on Tuesday cut its profit margin forecast for 2025, citing a net impact from tariffs of between 250 and 300 million euros ($283 million-$340 million) despite “substantial tariff mitigations”. Its Amsterdam-listed shares fell as much as 4% in early Tuesday trading. The United States is …

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Office space provider IWG touts record US business despite tariff threat

6 May 2025

(Reuters) -Office space provider IWG said on Tuesday its core activities were not directly impacted by trade tariffs imposed by President Donald Trump, and that its business indicators in the U.S. were at an all-time high. “March was a record sales month, and lead indicators such as enquiries and tours are running at all-time highs …

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Continental reports strong Q1 profit on cost cuts but tariff uncertainty looms

6 May 2025

By Rachel More BERLIN (Reuters) -German car parts maker Continental reported stronger-than-expected earnings growth on Tuesday in part from cost-cutting efforts, although it warned increasing U.S. trade restrictions from higher tariffs pose economic risks. “We made a solid start to the year,” CEO Nikolai Setzer said in a statement on its first-quarter results. However, the …

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Portugal’s Novo Banco quarterly profit falls on lower interest margin

6 May 2025

By Sergio Goncalves LISBON (Reuters) -Portugal’s fourth-largest lender Novo Banco, which is preparing for an initial public offering, said on Tuesday its first-quarter net profit fell 1.9% to 177.2 million euros ($200.5 million) due to growing pressure on its interest margin. The unlisted bank said net interest income, or gains on loans minus deposit costs, …

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UK’s Alpha Group rejects all-cash proposal from Corpay

6 May 2025

(Reuters) -British financial services provider Alpha Group International on Tuesday said it had rejected an all-cash proposal from U.S.-based business payments firm Corpay. Corpay, which offers tools that allow businesses to make payments to vendors, had expressed its interest in the British company about a possible takeover last week. Alpha confirmed on Tuesday that it …

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