AMSTERDAM (Reuters) – Technology investor Prosus on Wednesday said its profit dropped significantly last year due to impairments and lower contributions from its biggest holding, Chinese software and gaming giant Tencent. Prosus said it expected earnings per share to have fallen by 40% to 47% in the year through March 2023 as Tencent was hit…
(Reuters) – Toyota Motor said this week it will adopt a technology Tesla pioneered known as “Gigacasting” as part of a strategy by the Japanese automaker to improve the performance – and lower the cost – of future electric vehicles (EVs). Toyota is not alone in following Tesla’s breakthrough. Here’s a look at Gigacasting and…
By John Revill ZURICH (Reuters) – Swiss citizens vote this weekend on whether to raise business tax to 15% from an average of 11% to align with a global minimum tax rate, although even with the rise the country would still have one of the lowest corporate tax levels in the world. In 2021 almost…
By Klaus Lauer BERLIN (Reuters) – German media group ProSiebenSat.1 is preparing to cut significantly more staff than in previous restructurings as part of a strategy to reduce costs and focus more on the entertainment business, said Chief Executive Bert Habets. “The reduction exercise that we are preparing for is significantly bigger in size than…
COPENHAGEN (Reuters) – Belgian water management group Aliaxis has withdrawn its public tender offer for Finland’s Uponor, the bidder said in a statement on Wednesday. Swiss industrial group Georg Fischer on Monday made a rival offer of 28.85 euros per share, valuing Uponor at 2.1 billion euros, a 12% premium to the Belgian company’s bid….
BERLIN (Reuters) – Germany’s wholesale prices fell in May compared with the same month last year, according to data released on Wednesday. Wholesale prices decreased by 2.6% on the year and 1.1% on the month, the federal statistics office reported. The office offers more detailed economic data on its website. (Reporting by Anastasiia Kozlova, Editing…
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Russia’s dominant lender Sberbank will issue bonds in Chinese yuan this year if an opportunity arises and will continue borrowing in roubles to drive portfolio growth, the bank’s finance chief told Reuters. In his first interview since becoming Sberbank’s head of finance last year, Taras Skvortsov…
(Reuters) – French Finance Minister Bruno Le Maire will take a more stringent approach to public finances, he told the Financial Times ahead of a June 19 conference expected to unveil large cuts in public expenditures. In an interview published on Wednesday, Le Maire promised a renewed push to cut public spending, saying France needed…
A look at the day ahead in European and global markets from Kevin Buckland There’s no escaping that it’s all about the Fed today. And the energy around the meeting has been supercharged by the surprisingly soft inflation data that saw traders all but clear the table of any remaining rate hike bets. Investor focus…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Activist investor Sarissa Capital may have cleared a stumbling block in its push for board seats at Alkermes when one of its candidates resigned from the board of a company that has a commercial relationship with the drugmaker. The hedge fund’s founder, Alex Denner, 53, one of three Sarissa…
