Europe Business

Ozil resignation not in order, says Germany's Kroos

16/08 Germany midfielder Toni Kroos has criticised former World Cup-winning teammate Mesut Ozil for the way he announced his international retirement over racism claims and said the Arsenal player spoke "nonsense".  Full story

Superdry co-founder gives 1 million pounds to campaign for second Brexit vote

00h26 The co-founder of fashion brand Superdry is donating a million pounds ($1.28 million) to the campaign for a referendum on the final Brexit agreement as Britain prepares to outline in more detail how a. . .  Full story

UK hopes to pick up Brexit talks pace with Raab-Barnier meeting on Tuesday

18/08 Britain's Brexit minister Dominic Raab will travel to Brussels on Tuesday in a bid to pick up the pace of Brexit talks with the EU's chief negotiator Michel Barnier, Prime Minister Theresa May's office. . .  Full story

Italy's Autostrade confident it has always operated correctly - CEO

18/08 Autostrade per l'Italia, a unit of infrastructure group Atlantia , has always operated correctly in its role of toll-road operator, the group's chief executive said on Saturday.. . .  Full story

Autostrade pledges to rebuild collapsed Italy bridge

18/08 Italian toll-road operator Autostrade per l'Italia, which managed a bridge that collapsed in Genoa this week, pledged on Saturday to rebuild the viaduct.. . .  Full story

Autostrade earmarks 500 mln euros for Genoa after bridge disaster

18/08 Italian toll-road operator Autostrade per l'Italia, which managed a bridge that collapsed in Genoa this week, has set aside about 500 million euros ($572 million) worth of investment for the port city to help. . .  Full story

Autostrade voices sadness, sets up fund for Italy bridge victims

18/08 Top executives of Italian toll-road operator Autostrade per l'Italia, which managed a bridge that collapsed in the port city of Genoa this week, voiced profound sadness for the victims on Saturday and said it would. . .  Full story

Thailand's king now largest shareholder in Siam Cement Group

18/08 Thailand's King Maha Vajiralongkorn is now the largest shareholder in the country's biggest industrial conglomerate, Siam Cement Group Pcl, data from the Stock Exchange of Thailand (SET), published on its website on Saturday showed.. . .  Full story

Italy mourns victims of Genoa bridge collapse with state funeral

18/08 Italy mourned the victims of the collapse of a motorway bridge in the northern city of Genoa with a state funeral on Saturday, as rescue workers kept searching for the last few unaccounted people. . .  Full story

Italy should double 2019 growth target to 2 pct - Savona

18/08 The Italian government should be able to double its economic growth target for next year to 2 percent, thanks to an expected massive injection of private investment, a senior minister said.. . .  Full story

Workers at Chile's Escondida, world's top copper mine, ink contract

18/08 The union representing workers of Chilean copper mine Escondida signed a new collective labor contract on Friday, ending the risk of a strike that could have paralyzed the world's biggest copper mine.. . .  Full story

Oil rises in session, but has weekly loss on trade worries

17/08 Crude prices rose on Friday, but declined on the week on worries that oversupply would weigh on the U.S. market while trade disputes and slowing global economic growth would dampen demand for oil.. . .  Full story

ValueAct invests $800 million in financial stocks in Q2 -letter

17/08 Activist hedge fund ValueAct Capital Management boosted investments in financial stocks by more than $800 million during the second quarter, citing attractive risk-adjusted values of big banks, according to a client letter viewed by Reuters.. . .  Full story

Italy acts to revoke motorway concession after bridge collapse

17/08 Italy's government on Friday launched a formal procedure aimed at revoking concessions held by Autostrade per l'Italia to operate toll highways after a bridge it managed collapsed this week, killing at least 38 people.. . .  Full story

Goldman faces U.K. probe over reporting practices - Bloomberg

17/08 Goldman Sachs Group Inc is facing a probe from U.K. regulators over its reporting practices tied to new rules in European markets, Bloomberg reported on Friday, citing people with knowledge of the matter.. . .  Full story

Copper posts biggest weekly fall since early July

17/08 Copper inched lower on Friday, posting its largest weekly fall since early July as strikes, including at the world's largest mine, seemed mostly resolved but a weaker dollar provided some support.. . .  Full story

Worst week in five months for FTSE 100 as EM goes south

17/08 Britain's top share index failed to rebound convincingly on Friday at the end of a turbulent week for markets during which an economic crisis in Turkey spread anxiety across global financials and mining stocks.. . .  Full story

European shares slide as Turkey anxieties linger

17/08 European shares slipped on Friday as investors licked their wounds after a tumultuous week, eyeing further turbulence in emerging markets and weakness in tech stocks.. . .  Full story

Engineering study in 2017 warned about state of Italian bridge

17/08 An engineering study commissioned by Italian motorway operator Autostrade last year warned about the condition of a bridge that collapsed this week in Genoa, the head of the university department that conducted the study. . .  Full story

EU wheat harvests shrink, but quality remains good -analysts

17/08 Wheat harvests in major European Union countries are winding down with drought having shrunk crop sizes but quality generally good, analysts said on Friday.. . .  Full story

LNG-Prices edge up as focus switches to winter storage

17/08 Asian liquefied natural gas (LNG) spot prices edged higher this week as attention shifted to cargoes for winter storage, though few shipments changed hands.. . .  Full story

Britain's 'Aramco' listing category attracts interest from a single firm

17/08 Britain's markets watchdog has so far been contacted by only one company interested in taking advantage of a rule it introduced to attract state-owned firms like Saudi Aramco <IPO-ARMO.SE> to London, the regulator told Reuters. . .  Full story

Investors flee risk as bear markets multiply - BAML

17/08 Investors pulled billions from equities this week, shifting into bonds and high dividend-yielding sectors as Turkey's currency crisis sparked a global selloff and emerging markets entered bear territory, an analysis of fund flows showed on. . .  Full story

Germany looks at easing immigration laws to fill skilled labour gaps

17/08 The German cabinet will soon decide on a proposal to make it easier for skilled workers from outside the European Union to move to Germany to take a job, a paper seen by Reuters. . .  Full story

Russia agriculture ministry meets grain exporters on volumes

17/08 Russia's agriculture ministry said it held a meeting on Friday with grain exporters to discuss export volumes of grains.. . .  Full story

Sri Lankan shares hit over 7-week closing low on foreign selling

17/08 Sri Lankan shares extended losses for a sixth straight session on Friday, marking their lowest close in more than seven weeks, as foreign investors trimmed equity exposure amid fears that the government may introduce new. . .  Full story

Firefighters have not lost hope of finding miracle survivor in Genoa

17/08 More than a long shot, it would be a miracle.. . .  Full story

Atlantia to hold board meetings after Genoa bridge disaster - source

17/08 Italian toll-road group Atlantia has called special board meetings next week to discuss the deadly collapse of a bridge it operates in Genoa, a source said on Friday.. . .  Full story

China's CATL to start producing next-gen low-cobalt batteries in 2019 -source

17/08 China's largest lithium battery maker Contemporary Amperex Technology Ltd (CATL) plans to begin producing in 2019 next-generation nickel-rich batteries, which are cheaper to make and have longer life-spans, according to an internal company presentation and. . .  Full story

Air France-KLM shares fall, Dutch pilots threaten to strike

17/08 Air France-KLM shares fell on Friday in response to the hostile reception from unions to the company's new boss Benjamin Smith, while the airline's Dutch pilots threatened to strike over working conditions.. . .  Full story

Multiple bids lined up for Paris airport operator -sources

17/08 At least three consortiums have been formed to launch multibillion-euro bids for a stake in the operator of Paris Charles de Gaulle and Orly airports, among the first of France's planned privatisations for 2019,. . .  Full story

Denmark's Maersk to spin off drilling, hand Total shares to investors

17/08 A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics.. . .  Full story

Sweden's Granges halts plans for U.S. aluminium joint venture

17/08 Sweden's Granges put on ice on Friday plans to form an aluminium manufacturing joint venture in the United States with Japan's Mitsubishi Aluminum Co, saying that the project was less attractive in "current circumstances".. . .  Full story

Angry Birds maker Rovio's games get sales boost

17/08 Rovio Entertainment, the maker of the "Angry Birds" mobile game series and movie, on Friday reported an increase in second-quarter sales at its games business, providing a positive sign for investors after a profit. . .  Full story

Greece set to exit bailout, still faces daunting challenges

17/08 Greece exits the last of its three bailouts on Aug. 20 and hopes to be able to borrow again in international markets after a nearly nine-year debt crisis that shrank the economy by a. . .  Full story

ANALYSIS-Angry, yes. But anti-business? Italy likely to contain its bridge rage

17/08 Italy's government has unnerved investors with its angry reaction to this week's deadly bridge collapse, threatening to renationalise toll roads and accusing its predecessors of being in thrall to big business.. . .  Full story

Russian oil industry would weather U.S. 'bill from hell'

17/08 Stiff new U.S. sanctions against Russia would only have a limited impact on its oil industry because it has drastically reduced its reliance on Western funding and foreign partnerships and is lessening its dependence on. . .  Full story

Jin Air's licence intact after 'nut rage' sister's scandal; shares soar

17/08 South Korea's Jin Air escaped the worst of regulatory wrath on Friday when it was allowed to keep its business licence in the wake of public outrage over the behaviour of members of its. . .  Full story

S.Korea decides not to revoke Jin Air's business license; shares surge

17/08 South Korea on Friday announced its decision to not revoke the aviation business license of budget carrier Jin Air, sending its shares surging as much as 20 percent.. . .  Full story

COLUMN-Is the metals rout signal or noise? The zinc perspective: Andy Home

17/08 The London Metal Exchange (LME) base metals markets were a scene of carnage on Wednesday.. . .  Full story

Papua New Guinea gas project signs supply deal with BP

17/08 An ExxonMobil-operated gas project in Papua New Guinea has agreed a deal to supply liquefied natural gas (LNG) to a unit of British oil giant BP, said Australia's Oil Search Ltd, a partner in. . .  Full story

Canada's Pieridae Energy in talks to sell LNG to Swiss utility

16/08 Pieridae Energy, considering whether to build Canada's first major liquefied natural gas (LNG) export terminal, is in talks with Axpo, a Swiss utility and energy trader, for a 10-year supply deal, the companies said on. . .  Full story

Italy opens probe into operator of collapsed bridge, investors dump shares

16/08 Italy's government opened an investigation on Thursday into the country's biggest toll-road operator, hours after saying it could face a heavy fine or lose its concession over a bridge collapse that killed at least 38. . .  Full story

Arson at Libyan pipeline causes fire, no significant damage - NOC

16/08 Libya's National Oil Corp (NOC) said arson caused a fire next to a station on Libya's Wafa-Mellitah gas pipeline that was extinguished on Thursday without causing significant damage.. . .  Full story

Lanxess CEO not a candidate for Thyssenkrupp CEO job-source

16/08 Lanxess Chief Executive Matthias Zachert is not available to become CEO of Thyssenkrupp, a source familiar with the matter said, ending speculation that he could replace interim CEO Guido Kerkhoff.. . .  Full story

High-grade euro zone yields edge higher as Turkey crisis cools

16/08 Euro zone bond yields rose from one-month lows on Thursday as a currency crisis in Turkey eased, reducing demand for safe-haven assets such as government debt.. . .  Full story

Angry, yes. But anti-business? Italy likely to contain its bridge rage

16/08 Italy's government has unnerved investors with its angry reaction to this week's deadly bridge collapse, threatening to renationalise toll roads and accusing its predecessors of being in thrall to big business.. . .  Full story

Copper producer KGHM's profit halves in second quarter

16/08 Poland's KGHM, one of the world's biggest copper producers, reported a 50 percent fall in second quarter net profit as lower sales, rising costs and provisions offset the positive impact of higher copper prices.. . .  Full story

Industrial metals claw back ground after worst day in 3 years

16/08 Industrial metals prices regained ground on Thursday as planned trade talks between China and the United States and a recovery in Turkey's currency rekindled appetite for riskier assets and weakened the dollar.. . .  Full story

Britain's FTSE heads higher as miners recover

16/08 The UK's top share index edged higher on Thursday, led by a strong rise in beaten-down mining stocks as news of fresh U.S.-China trade talks lifted sentiment across markets and sectors.. . .  Full story

European shares recover, Atlantia drags Italian stocks lower

16/08 European shares recovered on Thursday after Beijing said it would hold trade talks with the United States this month, spurring risk appetite, although Italian shares fell sharply as Atlantia sank.. . .  Full story

Swedish government raises growth forecast, eyes more spending as elections near

16/08 Sweden's centre-left government lifted its economic growth forecast on Thursday and said it sees more room to increase spending, as it seeks to revive flagging popularity ahead of national elections next month.. . .  Full story

EU spending caps not to blame for Italy bridge collapse - EU Commission

16/08 The European Union on Thursday dismissed a suggestion that its budget rules had prevented Italy from spending enough to keep its infrastructure safe, two days after a bridge collapse in Genoa killed at. . .  Full story

Rain pours into Norway's dams, securing winter power supply

16/08 Norway's power supply, entirely dependent on hydroelectric dams, will be secure this winter, the energy regulator said on Thursday, as long-awaited rains have begun filling reservoirs.. . .  Full story

En+ considers move to Russia's new offshore zone

16/08 En+ Group, hit by U.S. sanctions against Russia in April, said on Thursday it was investigating the possibility of re-domiciling from Britain's Jersey to one of Russia's new offshore zones.. . .  Full story

Britain sends mixed messages post-Brexit with greater scrutiny of foreign deals

16/08 Jon Moulton, the founder of private equity house Better Capital, was "absolutely staggered" when he learned that his firm's 44 million-pound sale of British company Northern Aerospace was being investigated by the UK government.. . .  Full story

Amazon considering UK insurance comparison site - sources

16/08 Amazon.com Inc is sounding out some of Europe's top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S.. . .  Full story

Is the metals rout signal or noise? The zinc perspective: Andy Home

16/08 The London Metal Exchange (LME) base metals markets were a scene of carnage on Wednesday.. . .  Full story

Workers to strike at three Total North Sea oil and gas platforms on Aug. 20-union

16/08 Workers at three of French oil company Total's North Sea oil and gas platforms will go ahead with a 24-hour strike on Monday despite holding talks with the company on Thursday in a dispute. . .  Full story

Ratings agency Fitch sees growing risk of damaging no-deal Brexit

16/08 Ratings agency Fitch said on Thursday that it saw a growing risk of a bitter and economically damaging Brexit that could lead to a further downgrade of Britain's sovereign credit rating.. . .  Full story

British public don't trust banks 10 years after crisis, survey finds

16/08 A majority of Britons do not trust banks and think they did not face severe enough penalties for their part in the 2008 financial crisis, a survey showed on Thursday.. . .  Full story

Sri Lankan shares edge down; foreign investors sell John Keells

16/08 Sri Lankan shares ended marginally weaker on Thursday, marking their fifth straight session of losses, as foreign investors sold market heavyweight John Keells Holdings amid global worries.. . .  Full story

Hot summer a mixed blessing for Swedish grocer ICA

16/08 An unusually warm spring and early summer in Sweden helped lift sales at retailer ICA Gruppen's stores in the countryside as people escaped the city, but also pushed transport costs up sharply.. . .  Full story

Italy's Autostrade bondholders can ask for early repayment if concession revoked

16/08 Holders of bonds sold by Autostrade per l'Italia, the Atlantia unit managing the motorway that collapsed this week killing at last 38 people, can request an early repayment if the toll concession is revoked,. . .  Full story

DNO to pay first dividend in 13 years, seeks Faroe board seats

16/08 DNO will pay its first dividend in 13 years following strong half-year earnings, and the Middle-East and North Sea focused oil company also said it would demand seats on the board of London-listed rival. . .  Full story

Italy bridge collapse: The financial facts behind the fury

16/08 Italy's anti-establishment government, outraged at the deadly collapse of a 50-year-old bridge, has presented the disaster as a warning to Brussels to give it more leeway to upgrade the country's ageing infrastructure.. . .  Full story

Italy weighs 3 options against Autostrade in Genoa bridge collapse-minister

16/08 Italy is weighing three options that range from stripping Autostrade per l'Italia of its entire motorway concession to fining the toll road operator in charge of a collapsed bridge, a junior minister said.. . .  Full story

Russia's Gazprom Neft says Q2 net profit doubles y/y

16/08 Russian oil producer Gazprom Neft said on Thursday it had almost doubled year-on-year net profit in the second quarter to 96.8 billion roubles ($1.5 billion) on higher oil prices and rising production from new projects.. . .  Full story

Austria's Wienerberger plans more takeovers as targets higher profit

16/08 Austria's Wienerberger, the world's largest brickmaker, said on Thursday it planned further takeovers and would step up an efficiency drive to reach its core profit target of more than 600 million euros by 2020.. . .  Full story

Angola aims to boost oil output with new block sale agency

16/08 Angola will launch next year a new agency to handle oil concessions, the government said on Thursday, as President João Lourenço pushes ahead with reforms aimed at boosting production in Africa's. . .  Full story

Payments firm Wirecard raises outlook as DAX slot beckons

16/08 Wirecard raised its guidance for 2018 profits on Thursday, sending its shares to a record high and underscoring the payments company's rise at the expense of Germany's struggling banks.. . .  Full story

Kaz Minerals copper miner declares dividend, H1 earnings rise

16/08 Copper miner Kaz Minerals on Thursday announced an interim dividend of 6 U.S. cents per share, the first in six years, and said it expected to make a similar payment for the second half. . .  Full story

China-linked cyberattacks likely as Malaysia reviews projects - security firm

16/08 Chinese state-sponsored hackers may be targeting companies and state agencies in Malaysia as it looks to review several major projects linked to China's Belt and Road Initiative, cybersecurity firm FireEye Inc. said on Wednesday.. . .  Full story

UK retail sales grow faster in July, helped by World Cup and discounting

16/08 British shoppers spent more than expected in July, after hot weather and the World Cup continued to boost food sales and other retailers offered discounts, pointing to a solid start to the third quarter. . .  Full story

New Rank boss spins wheel on turnaround plan after profit plunges

16/08 Shares in Britain's Rank Group fell as much as 7 percent on Thursday after the bingo and casino hall operator posted a 40 percent drop in full-year profit and its new management announced a. . .  Full story

Parts of Norway's Mongstad oil refinery up and running -Equinor

16/08 Equinor's oil and cogeneration plants at Norway's Mongstad refinery are up and running, with more parts of the facility expected to restart during Thursday, the firm said.. . .  Full story

Dutch economy drives Rabobank profit rise, aims to help farmers

16/08 Rabobank, the Dutch-based cooperative lender, on Thursday reported a 12 percent rise in first-half net profit to 1.7 billion euros ($1.94 billion), helped by cost-cutting and strong economic growth in the Netherlands.. . .  Full story

Carlsberg sales boosted by World Cup, raises 2018 outlook

16/08 Danish brewer Carlsberg raised its full year profit outlook on Thursday after second-quarter sales beat forecasts on growing demand for its expensive beers in China and strong sales in Russia during the World Cup.. . .  Full story

Poor French performance offsets warm weather boost at DIY firm Kingfisher

16/08 Kingfisher, Europe's second largest home improvement retailer, said prolonged warm weather lifted sales but the weak performance of its French business Castorama darkened its outlook.. . .  Full story

Finland's Stockmann posts rising profits, department stores struggle on

16/08 Finnish retailer Stockmann reported better-than-expected second-quarter results on Thursday, thanks to increased sales at its fashion chain Lindex, but warned that its department stores would remain in the red in the full year.. . .  Full story

Foreigners sold Japanese stocks for second straight week on China, Turkey worries

16/08 Foreigners sold Japanese stocks for the second consecutive week in the week ended Aug. 10 on concerns over the U.S.-China trade war, a stronger yen and Turkey's economic woes.. . .  Full story

Shares in Italian motorway operators hit after bridge collapse

16/08 Shares in Italy's Atlantia and other toll road operators came under heavy pressure on Thursday after the government said it would look to revoke a motorway concession and tighten rules after a deadly. . .  Full story

Bank of Georgia profit climbs on higher lending amid strong economy

16/08 Bank of Georgia Group Plc on Thursday posted an 11.2 percent rise in first-half profit, boosted by higher lending amid stronger economic growth in the country.. . .  Full story

Australian shares end flat as gains for Telstra, QBE offset miners' losses

16/08 Australian shares closed unchanged on Thursday, as a sell-off in materials was offset by gains in Telstra Corporation Ltd and QBE Insurance Group Ltd .. . .  Full story

Australia's QBE Insurance posts strong H1 on fewer disasters, shares rise

16/08 Australia's QBE Insurance Group Ltd posted a better-than-expected 4 percent rise in first-half profit, helped by fewer natural disasters in its biggest markets, sending its shares up almost 9 percent to their highest since November.. . .  Full story

New fuel rules push shipowners to go green with LNG

16/08 Tough new rules on marine fuel are forcing shipowners to explore liquefied natural gas as a cleaner alternative and ports such as Gibraltar are preparing to offer upgraded refuelling facilities in the shipping industry's biggest. . .  Full story

Australian jobless rate eases to 6-year low, wages still lag

16/08 Australia's jobless rate dipped to the lowest level in six years in July and full-time jobs jumped, a solid result that supported hopes for an eventual revival in long-lagging wages growth.. . .  Full story

JGBs dip on fresh supply, reports of U.S.-China trade talks

16/08 Japanese government bond prices dipped on Thursday as the market grappled with a fresh supply of debt, while risk aversion ebbed in the broader markets following news of fresh U.S.-China trade talks.. . .  Full story

Dutch govt forecaster trims GDP growth forecast, says outlook still bright

16/08 The Dutch government's economic forecaster on Thursday trimmed its forecast for GDP growth to 2.8 percent in 2018 and 2.5 percent in 2019, citing growing risks from trade disputes, Britain's departure from the EU, and. . .  Full story

COLUMN-Nickel is dancing to a new electric (vehicle) beat: Andy Home

16/08 The world used almost 2.2 million tonnes of nickel last year. Around two thirds of that metal was absorbed by the stainless steel industry, which uses it as a key alloying agent.. . .  Full story

Anglo American expects to obtain permit for Minas-Rio mine by June 2019

16/08 Miner Anglo American Plc expects to obtain licenses to expand its Minas-Rio multibillion-dollar iron ore mine in Brazil by June next year, the company's CEO for Brazil Ruben Fernandes told Reuters on Wednesday.. . .  Full story

Chile's Escondida says deal reached with union on new contract

16/08 Management at the world's largest copper mine, Chile's Escondida, said it struck a deal on Wednesday on a new labor contract with the union representing most of its workers.. . .  Full story

U.S. says EU stalling on Airbus, blocks request for WTO compliance panel

15/08 The United States said on Wednesday the European Union and four of its planemaker states have failed to bring subsidies for Airbus into line with a WTO ruling of last May, an accusation refuted. . .  Full story

Air France-KLM unions bristle as Air Canada exec tipped for CEO job

15/08 French pilot unions hit out at the possible appointment of Air Canada's chief operating officer Benjamin Smith as Air France-KLM's new boss, after several newspapers reported that he was poised to be named to the. . .  Full story

Qatar/Glencore venture values its Rosneft stake at 7.4 bln euros

15/08 QHG Oil Ventures, a joint venture between Qatar Investment Authority and Glencore, has valued a 14.2 percent stake in Rosneft, which it is selling, at 7.4 billion euros ($8.4 billion), a QHG financial statement showed. . .  Full story

Financial Times boss to return some of $3.3 mln pay after staff protest

15/08 Financial Times Chief Executive John Ridding is to pay back some of his 2.6 million pound ($3.3 million) salary after a group of the newspaper's reporters complained about his pay.. . .  Full story

Swiss ban some Mercedes, Porsche models over emissions

15/08 Swiss authorities have halted registrations of some new Mercedes-Benz Vito and Porsche Macan and Cayenne vehicles which had diesel engines that disguised emissions levels, the Astra roads agency said on Wednesday.. . .  Full story

-Express Scripts staking out million dollar gene therapies

15/08 Express Scripts Holding Co built a multi-billion enterprise pressuring drug companies to lower their prices for U.S. patients. Now it is quietly building a side business: getting paid to help drug companies dispense a new. . .  Full story

Oil companies make few bids in U.S. offshore lease auction

15/08 Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing tepid interest in the region for the second. . .  Full story

Global growth concerns hit prices of industrial metals

15/08 Industrial metal prices tumbled on Wednesday on concerns about the hit to global growth and demand from trade disputes and political tensions, as well as a stronger dollar.. . .  Full story