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Europe Business

Italy's bond market wins respite but outlook uncertain

09h56 Italy's government bond yields fell on Thursday, as the market won a respite from the political risks that have dealt investor sentiment a heavy blow over the past week.. . .  Full story

Baker Aryzta profit warning dents recovery hopes, shares plunge

09h52 Speciality baker Aryzta reduced its profit outlook on Thursday after recovery plans of its new-look management team were dented by renewed weakness in Europe, its biggest market.. . .  Full story

European shares make timid gains while autos stocks stall

09h26 A bounce across miners and oil stocks helped European stocks nudge higher in early trading on Thursday, though carmakers' shares came under pressure after the U.S. launched a probe into auto imports.. . .  Full story

Greece to raise cash withdrawal limit, paper says

09h24 Greece may loosen further capital restrictions imposed since the summer of 2015, raising the monthly limit of cash that can be withdrawn from bank accounts by at least 74 percent, Greek newspaper Kathimerini reported. . .  Full story

British lender Paragon's posts H1 profit growth

09h20 Britain's mortgage lender Paragon Banking Group reported a 4.7 percent rise in first-half underlying profit on Thursday, helped by a surge in lending volumes.. . .  Full story

Elliott eyes operational improvements after taking Thyssenkrupp stake

09h15 Hedge fund Elliott said on Thursday it saw room for significant improvement at Thyssenkrupp , confirming it had taken a stake in the German industrial group.. . .  Full story

China stocks extend losses amid renewed trade concerns

09h15 China stocks extended losses on Thursday, after falling the most in a month in the previous session, as caution prevailed amid renewed concerns over China-U.S. trade tensions.. . .  Full story

Deutsche Bank to cut thousands of staff in investment bank revamp

09h11 Deutsche Bank will cut global staff numbers by more than 7,000 in the first major move by its new CEO to reduce costs and restore profitability after years of false starts.. . .  Full story

French industry morale steady in May, morale in service sector slips

09h04 French industrial morale held steady in May but weakened in the services sector, data published on Thursday showed, in a possible sign of slowdown in the economic recovery.. . .  Full story

Britain's United Utilities FY profit rises 3.6 pct

08h56 United Utilities Group Plc's full-year profit beat analysts' estimate on Thursday as the British water utility said it benefited from lower costs and regulatory changes to how utilities charge customers.. . .  Full story

Britain's RockRose to buy Netherland-based Dyas for 107 mln euros

08h55 Britian's RockRose Energy on Thursday said it agreed to buy Netherland-based privately held oil and gas explorer Dyas BV, for 107 million euro ($125.3 million) in cash.. . .  Full story

Daily Mail owner says cautious on the full-year due to tough ad market

08h53 The publisher of Britain's Daily Mail said it was cautious about the outlook as it simplifies the group in the face of challenging markets, particularly weak advertising.. . .  Full story

Testing firm Intertek's revenue rises on products unit strength

08h51 British testing company Intertek Group reported a 4.4 percent rise in revenue at constant currency in the first four months of the year, helped by growth in its products division and contributions from recent acquisitions.. . .  Full story

Sales at Britain's Kingfisher mauled by Beast from the East

08h41 Kingfisher, Europe's second largest home improvement retailer, said on Thursday sales in its latest quarter were dented by February and March's unusually adverse weather which kept shoppers at home.. . .  Full story

Vontobel to buy private bank from Raiffeisen for $700 mln

08h10 Swiss private bank and asset manager Vontobel is buying private bank Notenstein La Roche from Swiss cooperative bank Raiffeisen for 700 million Swiss francs ($705 million), the two parties said on Thursday.. . .  Full story

German consumer morale declines further heading into June

08h00 German consumer sentiment deteriorated further heading into June to reach the lowest level so far in 2018, a survey showed on Thursday, suggesting that household spending in Europe's biggest economy could. . .  Full story

EXCLUSIVE -Rusal resumes shipments of aluminium to some customers

08h00 United Company Rusal resumed shipping aluminium to some customers last week following an extension of the deadline for companies to wind down contracts with the Russian firm under U.S. sanctions, sources said.. . .  Full story

Massachusetts, Rhode Island award major offshore wind contracts

07h37 Massachusetts on Wednesday selected a partnership between Avangrid Inc and Copenhagen Infrastructure Partners to develop what will be the largest U.S. offshore wind farm off the coast of Martha's Vineyard.. . .  Full story

Copper falls for 2nd day as U.S. casts doubt on trade deal

07h09 London copper slipped for a second session on Thursday, after U.S. President Donald Trump said any trade deal with China would "need a different structure" and Washington launched a probe into auto imports that could. . .  Full story

Deadly protests land a blow to Indian resources magnate Agarwal's ambitions

06h59 Indian billionaire Anil Agarwal often talks about his dream to turn his London-listed company Vedanta Resources into a global resources giant. He has already bought stakes in big mining companies, such as Anglo American Plc,. . .  Full story

UBS merging Greater China investment banking teams, appoints heads-memo

05h44 Swiss bank UBS Group has appointed leaders for its Greater China business which is being formed by merging its China-focused investment banking teams, according to an internal memo seen by Reuters on Thursday.. . .  Full story

Reliance's $923 mln UK buy is second Australian foreign plumbing deal of May

05h01 Australian plumbing products maker Reliance Worldwide Corp Ltd is buying U.K.-based John Guest Holdings Ltd for about $923 million, becoming the second Australian firm this month to make an overseas acquisition in the plumbing business.. . .  Full story

Chile high court declines to weigh in on lithium spat at Maricunga

01h52 Chile's constitutional court said it would not get involved in a dispute between a foreign-backed miner and state-run copper miner Codelco over adjoining lithium deposits in the Maricunga salt flat, according to a court document. . .  Full story

Top banks' Q1 commodities revenue jumps 48 pct -report

01h01 Commodities-related revenue at the 12 biggest investment banks in the first quarter jumped 48 percent year on year driven by the U.S. energy sector and commodity indices, consultancy Coalition said on Thursday.. . .  Full story

Comcast prepares to top Disney's $50 bln offer for Fox

01h00 Comcast Corp confirmed on Wednesday it was preparing a higher, all-cash offer for most of the media assets of Twenty-First Century Fox, setting up a bidding war with rival Walt Disney Co, which already has. . .  Full story

Wall Street dominance over Europe's struggling banks hits record

01h00 Wall Street's dominance over struggling European banks has reached record levels as U.S. firms reap the benefits of booming markets at home, while their transatlantic rivals are trapped in endless restructurings, data showed on Thursday.. . .  Full story

UK foreign secretary seeks trade agreements in Chile, Latin America

23/05 Britain’s Foreign Secretary Boris Johnson concluded a five-day charm offensive in Latin America on Wednesday by expressing interest in a trade agreement with Chile and other countries in Latin America's so-called Pacific Alliance.. . .  Full story

Oil falls on shock U.S. stock builds, OPEC supply worries

23/05 Oil benchmarks fell on Wednesday after an unexpected build in U.S. crude and gasoline inventories despite strong demand, and as traders weighed a possible increase in OPEC crude output to cover any shortfalls in supply. . .  Full story

Iran's top leader sets conditions for Europe to save nuclear deal

23/05 Iran's top leader set out a series of conditions on Wednesday for European powers if they want Tehran to stay in a nuclear deal after the U.S. exit, including steps by European banks to. . .  Full story

Norway's wealth fund voted against Shell climate target motion

23/05 Norway's $1 trillion wealth fund voted against a motion at Shell's annual meeting urging the energy giant to set climate targets, despite a push the fund is making for more firms to do so.. . .  Full story

Turkmenistan says close to securing TAPI pipeline financing

23/05 Turkmenistan plans to secure within a few months all the necessary funding to complete the construction of an $8 billion natural gas pipeline to Afghanistan, Pakistan and India, the project's chief executive said on Wednesday.. . .  Full story

EU tells Italy to cut debt, eyes market pressure

23/05 The EU executive warned Italy's incoming government on Wednesday it should go on cutting the country's heavy public debt, as EU officials pointed to market pressure as a more effective form of euro zone. . .  Full story

Sanctions-hit Vekselberg revives talks with Gazprom on power assets merger -sources

23/05 Russian oligarch Viktor Vekselberg, who has been placed under U.S. sanctions, has resumed talks about merging his power assets with Gazprom , three sources familiar with the talks told Reuters on Wednesday.. . .  Full story

Reduced costs of broker Beaufort's insolvency may provide relief for small mining firms

23/05 PwC halved the estimated costs of winding up British brokerage Beaufort Securities on Wednesday, potentially boosting funds for hard-pressed mining companies and other clients that are expected to shoulder the costs.. . .  Full story

Thyssenkrupp CEO feels heat after investor vote of no confidence

23/05 Heinrich Hiesinger's position as Thyssenkrupp's CEO is more precarious than it has ever been as he prepares to unveil a new strategy to placate impatient investors, including Cevian and Elliott, people familiar with the matter. . .  Full story

Rusal resumes shipments of aluminium to some customers

23/05 United Company Rusal resumed shipping aluminium to some customers last week following an extension of the deadline for companies to wind down contracts with the Russian firm under U.S. sanctions, sources said.. . .  Full story

Paddy Power Betfair merging U.S business with FanDuel

23/05 Paddy Power Betfair has agreed to merge its U.S. business with fantasy sports company FanDuel to target the U.S. sports betting market that is set to open up in the coming years, the Irish. . .  Full story