Britain commits to hundreds of North Sea oil and gas licences
Britain commits to hundreds of North Sea oil and gas licences By Sachin Ravikumar and Susanna Twidale LONDON (Reuters) -Britain on Mon..
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Manchester United renews Adidas partnership in $1.1 billion 10-yr deal
Manchester United renews Adidas partnership in $1.1 billion 10-yr deal (Reuters) -Manchester United on Monday renewed the soccer club&..
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France’s TDF explores fibre unit sale for upwards of 1 billion euros – sources
France’s TDF explores fibre unit sale for upwards of 1 billion euros – sources By Andres Gonzalez and Amy-Jo Crowley LONDON (Reu..
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Analysis-Dwindling excess savings could scupper markets’ soft-landing hopes
LONDON (Reuters) – Markets have high hopes for a soft landing for the economy, with bonds and equities rallying. Yet a sharp dra..
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At Europe’s big banks, women make some gains despite Rose exit
At Europe’s big banks, women make some gains despite Rose exit By Brenna Hughes Neghaiwi and Tom Sims ZURICH (Reuters) -Alison R..
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UK banks back in political crosshairs after Farage fiasco
UK banks back in political crosshairs after Farage fiasco By Sinead Cruise, Iain Withers and Lawrence White LONDON (Reuters) -After mo..
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Swiss National Bank posts $15 billion loss during second quarter
Swiss National Bank posts $15 billion loss during second quarter ZURICH (Reuters) – The Swiss National Bank posted a second quar..
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Oil climbs close to April peak on tighter supply
Oil climbs close to April peak on tighter supply By Alex Lawler LONDON (Reuters) -Oil climbed by almost 1% on Thursday, recouping loss..
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Automakers’ demand helps STM weather softening chip market
Automakers’ demand helps STM weather softening chip market (Reuters) -European chipmaker STMicroelectronics on Thursday forecast..
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Mediobanca to launch new $223 million buyback after record year
Mediobanca to launch new $223 million buyback after record year MILAN (Reuters) – Italy’s Mediobanca said on Thursday it w..
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Sabadell doubles Q2 net profit, lifts guidance for 2023
Sabadell doubles Q2 net profit, lifts guidance for 2023 By Jesús Aguado MADRID (Reuters) -Higher margins helped Spain’s Sabadell..
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EDF swings to profit thanks to price increases
EDF swings to profit thanks to price increases PARIS (Reuters) – French nuclear power giant EDF swung to profit in the first hal..
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ArcelorMittal cuts steel demand forecast, beats profit expectations
ArcelorMittal cuts steel demand forecast beats profit expectations By Marine Strauss BRUSSELS (Reuters) -ArcelorMittal, the world’s se..
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Banks to fuel boom in UK Plc regular dividend payouts
Banks to fuel boom in UK Plc regular dividend payouts MILAN (Reuters) – A recovery in bank payouts is set to lift UK regular div..
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Mercedes-Benz says better supplies boost orders, economy still weighs
Mercedes-Benz says better supplies boost orders, economy still weighs BERLIN (Reuters) – Mercedes-Benz forecast a subdued world ..
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Facebook parent Meta sees advertising jump, tops Wall Street targets
Facebook parent Meta sees advertising jump, tops Wall Street targets By Katie Paul and Yuvraj Malik (Reuters) – Meta Platforms o..
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Exclusive-Amazon has drawn thousands to try its AI service competing with Microsoft, Google
Exclusive-Amazon has drawn thousands to try its AI service competing with Microsoft, Google By Jeffrey Dastin (Reuters) – Amazon..
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Nissan seals Renault deal, now faces hard yards in China
Nissan seals Renault deal, now faces hard yards in China By Daniel Leussink and Gilles Guillaume TOKYO/PARIS (Reuters) -Nissan will in..
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Limited support for central bank digital currencies in global investment industry survey
Limited support for central bank digital currencies in global investment industry survey By Marc Jones LONDON (Reuters) – The mo..
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Exclusive-EU regulators rebuff Meta’s offer to curb use of ad data, sources say
Exclusive-EU regulators rebuff Meta’s offer to curb use of ad data, sources say By Foo Yun Chee BRUSSELS (Reuters) – Meta ..
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Intel, Ericsson to work together on custom 5G chip
Intel, Ericsson to work together on custom 5G chip By Stephen Nellis (Reuters) – Intel Corp on Tuesday said that it will work wi..
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Exclusive-U.S. SEC readies penalty for DWS in greenwashing probe by end September -sources
Exclusive-U.S. SEC readies penalty for DWS in greenwashing probe by end September -sources By Chris Prentice and Tom Sims NEW YORK/FRA..
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Dulux maker Akzo Nobel lifts outlook on easing raw material costs
Dulux maker Akzo Nobel lifts outlook on easing raw material costs By Matteo Allievi (Reuters) -Dutch paints and coatings maker Akzo No..
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France’s Thales to buy Imperva in $3.6 billion cybersecurity deal
France’s Thales to buy Imperva in $3.6 billion cybersecurity deal By Tim Hepher and Mathieu Rosemain PARIS (Reuters) -FranceR..
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Peace-themed torch unveiled for Paris 2024 Olympics
PARIS (Reuters) – The design of the Paris 2024 Olympic and Paralympic torch was unveiled on Tuesday, imitating the reflection of..
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“Last hope”: Eager Germans are prepared to pay for weight-loss drug
By Ludwig Burger and Maggie Fick FRANKFURT/LONDON (Reuters) – Frustrated after countless failed diet and exercise attempts, 41 ..
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Unilever sees Chinese consumer confidence at ‘historical low point’
Unilever sees Chinese consumer confidence at ‘historical low point’ By Richa Naidu LONDON (Reuters) – British consum..
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Euro zone firms slash loan demand to lowest on record: ECB poll
Euro zone firms slash loan demand to lowest on record: ECB poll FRANKFURT (Reuters) – Euro zone firms’ demand for loans dr..
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Pertamina, Petronas to pay up to $650 million for Shell’s Masela gas stake
Pertamina, Petronas to pay up to $650 million for Shell’s Masela gas stake By Fransiska Nangoy and Bernadette Christina TANGERAN..
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Keyboard maker Logitech raises forecast for first half of 2024
Keyboard maker Logitech raises forecast for first half of 2024 (Reuters) -Logitech International raised its sales and profit outlook f..
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Global shares, U.S. yields rise as investors eye rates, earnings
Global shares, U.S. yields rise as investors eye rates, earnings By Chibuike Oguh NEW YORK (Reuters) -Global equity markets and Treasu..
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Southern Europeans splash out on air-con as heatwave drags on
MADRID/MILAN (Reuters) – As Southern Europe battles extreme heat with no end in sight, people have rushed out to buy fans and ev..
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Naturgy’s profit rises on LNG gains, soothing shareholders By Pietro Lombardi MADRID (Reuters) – Spanish power utility Naturgy reported on Monday an 88% jump in profit for the first six months of the year, boosted by strong earnings at its liquefied natural gas (LNG) business, which could help it to win over restive investors. Earlier this month, the company said it would increase its dividend floor through 2025 while trimming expected investment, as it sought to make rewarding shareholders a priority. Pleasing them has become a focus as Naturgy considers changes that could reshape the company and after arguments over the potential appointment of a chief executive. Naturgy’s first-half net profit jumped to 1.05 billion euros ($1.16 billion), boosted by its liquefied natural gas (LNG) business. Shares were down 0.2% in mid-morning trading, bucking deeper declines, in particular for Spain’s blue-chip banks and utilities after a general election on Sunday produced no clear winner. Renta 4 Banco analyst Angel Perez Llamazares said Naturgy performed better than expected, adding “cash flows also beat our expectation,” and debt fell more than expected. After natural gas prices hit record levels last year, Naturgy said a fall in procurement costs this year and hedging gains had boosed profits. In the first half of the year, the company “exceeded the objectives of operating efficiency, cash generation, investment materialisation and debt reduction,” Executive Chairman and CEO Francisco Reynes said. After rival Iberdrola named a separate CEO last year, Naturgy is the only large energy company in Spain to combine the roles of executive chairman and CEO. Earlier this month, the company raised the dividend floor to 1.40 euros a share, from 1.20 euros. Operating profit (earnings before interest, tax, depreciation and amortisation) is expected to reach 5.1 billion euros, compared with a previous guidance of 4.8 billion euros. It said it was targeting net profit of 1.8 billion euros in 2025. Naturgy also relaunched its plan to split regulated infrastructure operations and liberalised energy businesses into two listed companies. The project had been suspended after the Ukraine war disrupted energy markets and analysts are still sceptical. “We believe it is unlikely that Naturgy will be able to implement its asset split in the short term and it is also unlikely that a big change in the shareholding of the company would occur,” said RBC analyst Fernando Garcia. ($1 = 0.8986 euros) (Reporting by Pietro Lombardi, editing by Inti Landauro and Barbara Lewis)
Naturgy’s profit rises on LNG gains, soothing shareholders By Pietro Lombardi MADRID (Reuters) – Spanish power utility Nat..
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Worsening euro zone business downturn reignites recession fears
By Jonathan Cable LONDON (Reuters) -Euro zone business activity shrank much more than expected in July as demand in the bloc’s d..
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Vodafone takes ‘first steps’ in turnaround with top-line improvement
Vodafone takes ‘first steps’ in turnaround with top-line improvement By Paul Sandle LONDON (Reuters) -Vodafone reported be..
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UK firms grow at slowest in 6 months as rate hikes weigh: PMI
UK firms grow at slowest in 6 months as rate hikes weigh: PMI LONDON (Reuters) – Britain’s private sector is growing at it..
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Analysis-As Japan aligns with U.S. chip curbs on China, some in Tokyo feel uneasy
Analysis-As Japan aligns with U.S. chip curbs on China, some in Tokyo feel uneasy By Tim Kelly, Karen Freifeld and Kentaro Sugiyama TO..
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