(Reuters) – Melrose Industries Plc expects its engines business to power its profit margins in 2025 as aftermarket services would help boost cashflow, enabling it to buy back shares worth between 5% and 10% of its market value annually from next year. The company raised its adjusted operating margin outlook for aerospace to between 17%…
By Andrew Hayley XIAN, China (Reuters) -China wants to further deepen relations with Kazakhstan in times of both “prosperity and adversity”, President Xi Jinping told his visiting Kazakh counterpart on Wednesday. This week, China will for the first time host an in-person summit of Central Asian leaders, building ties in Russia’s backyard as Beijing’s relations…
MILAN (Reuters) – Telecom Italia’s top shareholder Vivendi has proposed Luciano Carta, a former chairman at Italian defence group Leonardo to fill a vacant seat on the former phone monopoly’s board, two sources said on Wednesday. Vivendi is currently at loggerheads with Telecom Italia (TIM) management over its plans to revamp its domestic business through…
(Reuters) – Britain’s Frasers Group raised its stake in online fashion retailer ASOS, a filing showed on Wednesday, as the Mike Ashley-owned sportswear retailer continues its drive into a more premium market. Frasers, formerly called Sports Direct, increased its stake in ASOS to 7.4% from a prior stake of more than 5%, as of May…
By Tassilo Hummel PARIS (Reuters) -Former president Nicolas Sarkozy lost his appeal against a 2021 conviction for corruption and influence peddling at the Paris Court of Appeals on Wednesday, prompting his legal team to promise a challenge at France’s highest court. The appeals court upheld a three-year prison sentence. In line with the initial ruling,…
FRANKFURT (Reuters) – The European Central Bank on Wednesday told banks to step up how they manage struggling borrowers and their own currency trading in an environment of higher interest rates and jittery financial markets. Andrea Enria, head of the ECB’s Supervisory Board, has long worried about the economic fallout of rising borrowing costs and…
By Gergely Szakacs BUDAPEST (Reuters) – Poland’s government must ensure its fiscal policies support the fight to bring inflation down, the International Monetary Fund’s regional head told Reuters, days after fresh pre-election pledges of welfare hikes by Poland’s ruling nationalists. Law and Justice (PiS) party leader Jaroslaw Kaczynski announced on Sunday that an existing so-called…
By David Carnevali NEW YORK (Reuters) – Investors are scrambling to assess the fallout of a U.S. regulatory challenge against Amgen Inc’s proposed $27.8 billion acquisition of Horizon Therapeutics Plc, with some fearing a spillover to other big deals in the drug sector. While investors are accustomed to regulators under U.S. President Joe Biden citing…
(Reuters) – A look at the day ahead in U.S. and global markets from Samuel Indyk. The Federal Reserve is saying something and markets might finally be starting to listen. Tuesday’s plethora of Fed-speak echoed recent rumblings from the central bank. Interest rates are staying high and could go even higher. Chicago Federal Reserve President…
By Victoria Waldersee and Joseph White MUNICH (Reuters) – Electric car maker Fisker Inc is exploring collaboration with other companies to scale up market share faster, Chief Executive Henrik Fisker said on Wednesday. “Buyers aren’t loyal anymore to their traditional brands. That changes everything. If we collaborate with someone, you can scale quicker … it…
