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 Hughe..
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UK banks back in political crosshairs after Farage fiasco
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Swiss National Bank posts $15 billion loss during second quarter
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Oil climbs close to April peak on tighter supply
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Automakers’ demand helps STM weather softening chip market
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Mediobanca to launch new $223 million buyback after record year
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Sabadell doubles Q2 net profit, lifts guidance for 2023
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EDF swings to profit thanks to price increases
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ArcelorMittal cuts steel demand forecast, beats profit expectations
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Banks to fuel boom in UK Plc regular dividend payouts
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Mercedes-Benz says better supplies boost orders, economy still weighs
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Facebook parent Meta sees advertising jump, tops Wall Street targets
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Exclusive-Amazon has drawn thousands to try its AI service competing with Microsoft, Google
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Nissan seals Renault deal, now faces hard yards in China
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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 su..
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Exclusive-EU regulators rebuff Meta’s offer to curb use of ad data, sources say
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Intel, Ericsson to work together on custom 5G chip
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Exclusive-U.S. SEC readies penalty for DWS in greenwashing probe by end September -sources
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Dulux maker Akzo Nobel lifts outlook on easing raw material costs
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France’s Thales to buy Imperva in $3.6 billion cybersecurity deal
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Peace-themed torch unveiled for Paris 2024 Olympics
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“Last hope”: Eager Germans are prepared to pay for weight-loss drug
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Unilever sees Chinese consumer confidence at ‘historical low point’
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Euro zone firms slash loan demand to lowest on record: ECB poll
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Pertamina, Petronas to pay up to $650 million for Shell’s Masela gas stake
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Keyboard maker Logitech raises forecast for first half of 2024
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Global shares, U.S. yields rise as investors eye rates, earnings
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Southern Europeans splash out on air-con as heatwave drags on
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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 ..
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Worsening euro zone business downturn reignites recession fears
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Vodafone takes ‘first steps’ in turnaround with top-line improvement
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UK firms grow at slowest in 6 months as rate hikes weigh: PMI
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Analysis-As Japan aligns with U.S. chip curbs on China, some in Tokyo feel uneasy
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Philips slightly raises 2023 outlook after Q2 core profit beat
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Julius Baer reports 18% H1 net profit rise
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Ryanair Q1 profits soar, cuts FY passenger forecast on Boeing delays
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Yen pressured as traders wait on policy decisions
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