Europe Business

Ivory Coast cocoa grinding up 5.5 pct through March 31 - exporter stats

19/04   Full story

Macedonian pro-Western, nationalist candidates tied in presidential vote

00h29 Macedonia's pro-Western candidate, Stevo Pendarovski, and his main rival Gordana Siljanovska-Davkova emerged tied in the first round of presidential vote dominated by deep divisions over a change of the country's name to North Macedonia under. . .  Full story

Comedian Zelenskiy wins Ukrainian presidential race by landslide - exit polls

21/04 Ukraine entered uncharted political waters on Sunday after exit polls showed a comedian with no political experience and few detailed policies had easily won enough votes to become the next president of a country at. . .  Full story

Macedonians pro-Western candidate wins first round of presidential vote

21/04 Macedonia's pro-Western candidate, Stevo Pendarovski, narrowly won first round of presidential vote dominated by deep divisions over a change of the country's name to North Macedonia under a deal with Greece.. . .  Full story

UK financial services? It's a family affair - report

21/04 Nearly half of all people working in Britain's financial services industry have followed their parents into the sector, more than three times the national average, research from consultants KPMG showed.. . .  Full story

Aramco to buy Shell's stake in Saudi refining JV for $631 mln

21/04 Saudi Aramco will acquire Royal Dutch Shell's 50 percent stake in their Saudi refining joint venture SASREF for $631 million, the two companies said on Sunday.. . .  Full story

Austria to maintain deficit-free budget to 2023 -chancellor to APA

21/04 Austria's government plans to maintain a deficit-free budget until 2023, local news agency APA quoted Chancellor Sebastian Kurz as saying on Sunday.. . .  Full story

UK PM May to be told to quit by top Conservative - Sunday Times

20/04 A top member of Prime Minister Theresa May's Conservative Party will tell her in the coming week that she must step down by the end of June or her lawmakers will try again to. . .  Full story

Norwegian Air cabin crew union calls for strike at Charles de Gaulle

20/04 Norwegian Air's largest cabin crew union in France has called for a strike from April 24 to April 26, seeking higher pay and better working conditions, a union representative said on Saturday.. . .  Full story

Thomas Cook approached by potential bidders - Sky News

20/04 Thomas Cook has been tentatively approached about a takeover of its tour operating unit, or the entire company, by several parties as its lenders prepare for crunch talks over the state of its finances,. . .  Full story

U.S. intelligence says Huawei funded by Chinese state security- report

20/04 U.S. intelligence has accused Huawei Technologies of being funded by Chinese state security, The Times said on Saturday, adding to the list of allegations faced by the Chinese technology company in the West.. . .  Full story

EU's Juncker: there is still a risk of no-deal Brexit despite delay

20/04 There is a still a concern that Britain may leave the European Union without a deal to smooth the way, the bloc's chief executive said on Saturday, urging Britain to take advantage of a. . .  Full story

IMF gives Mozambique $118 million for Cyclone Idai rebuilding

19/04 The International Monetary Fund will grant Mozambique a $118.2 million credit facility to help it rebuild infrastructure after a devastating cyclone that killed hundreds of people and flattened whole villages, the lender said on Friday.. . .  Full story

Stories on Ukraine's presidential election which a comedian is set to win

19/04 Ukrainians fed up with entrenched corruption and hungry for change are likely to elect a comedian with no previous political experience as their next president in a run-off vote on Sunday.. . .  Full story

Will the Benettons use Alitalia to fly in from the cold?

19/04 Italian transport group Atlantia could join a rescue of loss-making flag carrier Alitalia to try to win favour with the government and secure the future of its own domestic business following a deadly bridge collapse. . .  Full story

Climate change protesters descend on France's SocGen, energy companies

19/04 Climate activists blocked thousands of employees from entering the headquarters of French bank Societe Generale, state-run utility EDF and oil giant Total on Friday, environmental group Greenpeace said.. . .  Full story

Russia taps rainy-day fund to pay oil firms back for lower fuel prices at home

19/04 Russia expects to use about 210 billion roubles ($3.3 billion) from its National Wealth Fund this year to pay back oil firms as part of a deal to keep down domestic gasoline and diesel. . .  Full story

Ukraine PrivatBank court ruling excludes parties related to ex-owners - cenbank

19/04 A Ukrainian court ruling that the nationalisation of the country's largest bank, PrivatBank, was illegal also said that parties related to the bank's former owners should be excluded from the legal case, the central. . .  Full story

Commodity firm Trafigura jumps into chemical trading with new JV

19/04 Global commodities house Trafigura Group said on Wednesday it is entering petrochemicals trading by teaming up with Houston-based Altis Group International to take advantage of an expanding sector.. . .  Full story

Angola's Sonangol plans to downsize to focus on core business

19/04 Angola's state oil company Sonangol plans to divest 52 joint ventures, reduce staff and focus on its core business, part of an ongoing reorganisation and package of reforms designed to lure. . .  Full story

BP, SOCAR sign deal to build new Azeri oil exploration platform

19/04 Oil major BP and Azerbaijan's state energy company SOCAR signed an agreement on Friday to build a new exploration platform for the South Caucasus nation's three major oilfields, BP-Azerbaijan said in a statement.. . .  Full story

Polish refiner PKN's Q1 net profit seen down 25 pct

19/04 Polish oil refiner PKN Orlen is expected to report a 25-percent drop in first-quarter net profit amid a weaker performance in its petrochemicals business, a. . .  Full story

Dutch tulip forecast: brilliant, with a chance of tourists

19/04 As spring flower fields around the Netherlands burst into bloom, painting the countryside with dazzling swathes of red, white, and blue, a modern day tulip bubble may be forming: tourists.. . .  Full story

Scholz rules out new debt to stimulate Germany's slowing economy

19/04 Finance Minister Olaf Scholz ruled out taking on new debt to stimulate Germany's slowing economy and blamed anaemic growth this year on external factors like unresolved trade disputes and the risk of Britain. . .  Full story

Shanghai copper slips in thin trade, clocks weekly rise

19/04 Shanghai copper drifted lower on Friday as traders were away in Europe and parts of Asia for the Good Friday holiday, while the London Metal Exchange was closed. Copper on the. . .  Full story

S.Korea steps up shift to cleaner energy, sets long-term renewable power targets

19/04 South Korea plans to boost the share of its energy output generated from renewable sources to as much as 35 percent by 2040, a draft revision to government policy showed on Friday, over four. . .  Full story

Oil prices inch up on signs of tighter global supply

19/04 Oil futures edged up on Thursday as a drop in crude exports from OPEC's de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices.. . .  Full story

COLUMN-LME storage problems writ large in tiny tin market: Andy Home

19/04 Is the London Metal Exchange's (LME) physical storage function in danger of slipping into the shadows?. . .  Full story

No precious market report on April 19

19/04 There will be no precious market report on Friday, April 19, as most markets are closed for the Good Friday holiday. Reuters will resume precious metals coverage on Monday, April 22.. . .  Full story

Japan firms seek no exit from Britain, sales tax hike with more stimulus

19/04 Japanese firms with links to Britain say they have no immediate plan to leave the country as British government tries to hammer out terms of its exit from the European Union, a. . .  Full story

No Japanese companies plan to ditch UK as Brexit looms - survey

19/04 Japanese businesses with links to Britain say they have no immediate plans to flee the country as its government seeks to hammer out terms of its exit from the European Union, a Reuters poll. . .  Full story

German market regulator lifts short sale ban on Wirecard

19/04 Germany's markets regulator Bafin on Friday said its two-month ban on short-selling shares of payments company Wirecard had expired.. . .  Full story

Oil prices inch up on signs of tightening global supply

18/04 Oil futures edged up on Thursday as a drop in crude exports from OPEC's de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices.. . .  Full story

Ukraine tycoon crows "I won" after PrivatBank nationalisation ruled illegal

18/04 Ukrainian tycoon Ihor Kolomoisky won a major victory on Thursday in his battle with the government over the nationalisation of the country's largest bank after a court ruled the change of ownership was illegal.. . .  Full story

Ukraine tycoon says 'odious' central bankers could go if Zelenskiy wins election

18/04 Ukrainian tycoon Ihor Kolomoisky said on Thursday he expects some "odious individuals" at the central bank could be removed from office if presidential front-runner Volodymyr Zelenskiy wins Sunday's run-off election.. . .  Full story

France's main pilot union threatens week-long strike in May

18/04 France's main pilot union, the SNPL has warned the government it will call a strike from May 6 to May 11, which could affect all airlines operating in France, if a new law threatens. . .  Full story

Reversing PrivatBank nationalisation could rock economy - Ukraine cenbank chief

18/04 Ukraine risks returning to economic instability, higher inflation and currency volatility if it loses a legal case over the nationalisation of PrivatBank, Central Bank Governor Yakiv Smoliy said on Thursday.. . .  Full story

Arabica coffee rebounds, raw sugar climbs

18/04 Arabica coffee futures on ICE rebounded on Thursday, erasing losses from the previous session when the contract hit a 13-1/2-year-low, while raw sugar prices also rose. London cocoa, robusta coffee. . .  Full story

India's Reliance Industries sees telecom, retail driving growth

18/04 India's Reliance Industries, operator of the world's biggest refining complex, posted a record net profit on Thursday as strong growth in retail and telecom businesses offset the impact of 17-quarter low refining margins.. . .  Full story

Cristal Union to shut two French sugar plants amid market slump

18/04 French sugar producer, Cristal Union, said on Thursday it tipped into the red last year and plans to shut two factories in France as it expects global oversupply to continue pressuring prices.. . .  Full story

European shares rise as short covering, earnings help temper tepid PMIs

18/04 European shares ended higher on Thursday as short covering kicked in ahead of a long Easter weekend and strong quarterly results including those from Unilever and Nestle tempered data showing euro zone businesses unexpectedly slowed. . .  Full story

Conoco sells UK North Sea oil assets to Chrysaor for $2.7 bln

18/04 U.S. energy group ConocoPhillips has agreed to sell its oil and gas assets in the British North Sea to private equity-backed Chrysaor for $2.68 billion, Conoco said on Thursday, making Chrysaor the biggest producer in. . .  Full story

Zinc plunges as inventories and dollar climb

18/04 Zinc prices sank to a one-month low on Thursday after inventories in London Metal Exchange (LME) warehouses climbed and weak manufacturing data in Europe took the shine off base metals.. . .  Full story

U.S. will not prosecute Miami gold refinery after money laundering probe

18/04 The U.S. Attorney's Office said it has agreed not to prosecute one of the country's biggest gold refineries, Republic Metals Corporation (RMC), after an investigation into possible money laundering.. . .  Full story

FTSE 100 dips on sluggish euro zone PMI, Unilever sparkles

18/04 Britain's FTSE 100 retreated slightly on Thursday after downbeat euro zone PMI data and as investors booked profits before the long Easter weekend.. . .  Full story

Moody's advances in Acuris auction after Fitch pulls out - sources

18/04 Credit rating agency Fitch has pulled out of the bidding for financial media and data firm Acuris leaving rival Moody's as one of the strongest contenders to win the more than $1.30 billion deal,. . .  Full story

German ministry wants to extend electric car subsidies -document

18/04 Germany's economy ministry wants to extend subsidies for new electric cars until the end of 2020 in an effort to increase sales, draft guidelines seen by Reuters on Thursday showed.. . .  Full story

Schlumberger posts profit drop, sees international spending rising

18/04 Oilfield services provider Schlumberger NV on Thursday forecast rising international and offshore exploration spending this year, after posting a 20 percent drop in first-quarter profit due to weak North American demand.. . .  Full story

No grounds to compensate former owners of Ukraine's PrivatBank: central bank

18/04 Ukraine's Deputy Central Bank Governor Kateryna Rozhkova said she saw no grounds to compensate the former owners of PrivatBank, after a lower court ruled on Thursday that the 2016 nationalisation of PrivatBank was illegal.. . .  Full story

Debenhams CEO Bucher quits after lenders take control

18/04 Debenhams said on Thursday its chief executive Sergio Bucher had decided to step down, nine days after the ailing British department store group's lenders took control.. . .  Full story

Airbus sells longer-range A321, expects quick end to Boeing crisis

18/04 Airbus sales chief Christian Scherer said it is selling longer-range versions of its A321, while signalling a shift away from chasing market share at any cost and predicting Boeing will emerge quickly from the grounding. . .  Full story

Ukraine risks default if PrivatBank nationalisation overturned - president

18/04 Ukraine risks default if the nationalisation of PrivatBank is overturned, President Petro Poroshenko said on Thursday, after a lower court ruled the 2016 nationalisation of the country's largest lender was illegal.. . .  Full story

France points way for UK shake up of audit market

18/04 Taking on the Big Four accounting firms will remain a lengthy and costly challenge for smaller rivals in Britain despite the regulatory leg-up unveiled on Thursday, but France has shown it can be done. . .  Full story

LME storage problems writ large in tiny tin market: Andy Home

18/04 Is the London Metal Exchange's (LME) physical storage function in danger of slipping into the shadows?. . .  Full story

AUTOSHOW-China EV maker Byton says business as usual despite management upheaval

18/04 Chinese electric vehicle (EV) maker Byton, which is facing a management shake-up and questions about funding an expansion, said it has received over 50,000 orders globally for its new SUV model and plans to. . .  Full story

Barclays and Red Kite settle copper market dispute

18/04 British bank Barclays and hedge fund Red Kite Group have settled a legal dispute in which the fund accused the bank of manipulating the copper market and causing it to lose money.. . .  Full story

Italy set to come out of recession in Q1 2019 -Bank of Italy

18/04 Italy's economy grew by around 0.1 percent in the first three months of 2019, the Bank of Italy said on Thursday, suggesting that the country has pulled clear of the recession it slipped into. . .  Full story

Russia's Surgut awards Vitol up to 3.0 mln T of diesel - industry sources

18/04 Russian oil producer Surgutneftegaz has awarded a tender to sell up to 3.0 million tonnes of ultra-low sulphur diesel for delivery from the Baltic Sea port of Primorsk in July-December 2019 to Vitol, industry sources. . .  Full story

Head of Japan's Lixil bows to investor pressure in boardroom drama

18/04 Japanese toilet maker Lixil Group's CEO is to resign next month, marking a rare victory for activist minority shareholders who had demanded that he step down.. . .  Full story

Ukraine PM says government confident of PrivatBank case appeal

18/04 Ukraine's Prime Minister Volodymyr Groysman said on Thursday the finance ministry was sure of its legal position as it gears up to challenge a court decision on the 2016 nationalisation of PrivatBank, the country's largest. . .  Full story

New cargo offers depress LNG prices

18/04 The upward trend in Asian liquefied natural gas (LNG) prices reversed this week as ample offers of cargoes saturated a market where demand was limited.. . .  Full story

Indonesia president declares poll win as rival does too, complaining of fraud

18/04 Indonesian President Joko Widodo on Thursday declared victory in a presidential election to lead the world's third-largest democracy but his challenger also claimed he had won and complained of widespread cheating.. . .  Full story

Top Brembo investor tightens grip with loyalty share scheme for M&A

18/04 Shareholders in Brembo approved on Thursday a loyalty share scheme which would allow the family that owns the Italian premium brake maker to retain control as the company looks to expand through acquisitions.. . .  Full story

China Hongqiao to restart shuttered aluminium capacity in replacement plan

18/04 China Hongqiao Group , the world's biggest aluminium producer, will this year restart some of the smelting facilities it was forced to shut in 2017, two sources with knowledge of the matter said on Thursday.. . .  Full story

Russia's Vostochny Bank adds $184 mln to provisions

18/04 Russia's Vostochny Bank said on Thursday it had set aside 11.8 billion roubles ($184 million) in provisions against possible bad loans at the central bank's request.. . .  Full story

Top LNG buyer JERA, EDF start up JV to expand spot, short-term trade

18/04 JERA Global Markets, a newly formed joint venture by Japanese and French partners, is looking to expand into short-term contracts and spot trading of liquefied natural gas (LNG) to third parties, its chief executive told. . .  Full story

Respite for banks as payouts for mis-sold insurance fall

18/04 Britain's lenders are starting to put the most costly consumer scandal to hit the industry behind it, with payouts for mis-sold payment protection insurance (PPI) falling in the second half of 2018 ahead of. . .  Full story

Brexit stalls investments by sovereign wealth funds in Britain

18/04 Britain has long been a favoured playground for sovereign wealth funds from around the world to snap up glitzy skyscrapers, banking stakes and posh department stores.. . .  Full story

Italy's Saipem looking for partners in drilling business -CEO

18/04 Italian oil services group Saipem is looking for partners for its drilling business, while it has ruled out a trade sale, the company's chief executive said on Thursday.. . .  Full story

Liberia, Guinean iron venture sign outline export deal

18/04 The Republic of Liberia has signed an outline deal with a new venture set up to mine iron ore in Guinea to be shipped via Liberia, an export route the Guinean. . .  Full story

Kering shares slide as Gucci's growth slows

18/04 Kering shares retreated sharply on Thursday after signs of slowing growth at the French luxury group's Gucci brand, particularly in the United States.. . .  Full story

UK consumers keep calm and carry on shopping before Brexit deadline

18/04 British shoppers ignored worries about an impending Brexit deadline and spent heavily in March, official data showed on Thursday, supporting the country's sluggish economy while companies were cutting back on investment. Retail. . .  Full story

Intu sells shopping centre stake to Kuwait-backed fund to cut debt

18/04 Britain's Intu Properties plans to sell a 50 percent stake in an East Midlands shopping centre to a Kuwait-backed real estate investment firm for 186.3 million pounds ($242.53 million) in an attempt to cut. . .  Full story

Portugal's fuel-tanker truckers call off damaging strike

18/04 Portuguese fuel-tanker drivers have ended a national strike after agreeing to return to negotiations over demands for better pay and conditions, the government said on Thursday, ending the country's worst outbreak of industrial unrest in. . .  Full story

Euro zone business activity barely grew in April, PMI shows

18/04 Businesses across the euro zone stumbled into the second quarter as demand remained weak despite more modest price rises, surveys showed on Thursday.. . .  Full story

Katanga names Glencore Coal's chief development officer for top job

18/04 Katanga Mining Ltd, a unit of Glencore Plc, on Wednesday named Glencore Coal's chief development officer Jeff Gerard to the top job, taking over from Danny Callow.. . .  Full story

German regulator paves way for big hike in postal charges

18/04 Germany's Federal Network Agency has cleared the way for Deutsche Post to significantly increase the cost of sending letters after the company pledged to hire an extra 5,000 delivery workers.. . .  Full story

UK watchdog orders ringfencing of Big Four audit business

18/04 Britain's "Big Four" accounting firms must ringfence auditing from their consultancy work, the country's competition watchdog said on Thursday in a response to book-keeping failures such as at construction company Carillion and retailer BHS.. . .  Full story

UK should "cool down", drop Brexit - Socialist candidate to head EU Commission

18/04 Britain should use the next few months to "cool down and rethink" its decision to leave the European Union, the socialist candidate to head the next European Commission, Frans Timmermans, said on Wednesday.. . .  Full story

U.S. antitrust scrutiny tests T-Mobile's $26 bln bet on Sprint

18/04 T-Mobile US Inc's $26 billion deal to buy Sprint Inc banked on changes in wireless technology and media streaming to win U.S. antitrust approval, but the bet now looks precarious.. . .  Full story

Evacuation plan saved most of Notre-Dame's treasures- insurance adjuster

18/04 Some 90 percent of the priceless relics and art works housed within the Notre-Dame de Paris cathedral were saved from Monday's devastating fire as contingency plans to evacuate the treasures worked, a leading insurance. . .  Full story

Buoyant German services compensate for contracting manufacturing - PMI

18/04 Activity in Germany's services sector rose to a seven-month high in April, a survey showed on Thursday, adding to expectations that Europe's biggest economy will get impetus from its domestic market as falling exports hurt. . .  Full story

French business activity stabilises on firmer services sector - PMI

18/04 French business activity stabilised this month as the dominant service sector unexpectedly returned to growth, helping to offset weakness in manufacturing, a monthly poll showed on Thursday.. . .  Full story quarterly revenue rises

18/04 Price comparison website reported higher first-quarter revenue on Thursday as all its divisions performed well, and said it expected slower growth at its Home Services division for the rest of the year after a. . .  Full story

Edenred keeps 2019 guidance as Q1 revenue rises

18/04 French vouchers and card provider Edenred kept its guidance for 2019 unchanged on Thursday, as its total revenue rose in the first quarter amid growth in all of its divisions.. . .  Full story

Saipem sticks to guidance, but sees headwinds

18/04 Italian oil services group Saipem stuck to its annual guidance on Thursday as earnings in the first quarter rose, but said the industry still faced headwinds.. . .  Full story

Amazon, facing entrenched rivals, says to shut China online store

18/04 A Inc said it will shut its China online store by July 18, as the U.S. e-commerce giant focuses on the lucrative businesses of selling overseas goods and cloud services in the world's. . .  Full story

GFG Alliance outlines plan to consolidate Liberty's global steel assets

18/04 GFG Alliance, a privately held conglomerate, said on Thursday it plans to integrate most of the mining and engineering businesses under its Liberty House unit into a single global steel business with assets across. . .  Full story

No Brexit more likely than a disorderly one, say economists

18/04 The chances that Brexit will be cancelled are now greater than the chances Britain will leave the European Union without a deal, according to economists in a Reuters poll, who again pushed back their. . .  Full story

More British energy customers switch supplier in Q1 despite price cap

18/04 The number of British customers switching energy supplier in the first quarter of 2019 rose by 12 percent compared with the same period last year, data from industry group Energy UK showed, despite a. . .  Full story

Green economy good news for copper producers -Antofagasta chairman

18/04 The global fight against climate change will boost demand for copper, a key metal used in the production of electric vehicles, Antofagasta chairman Jean-Paul Luksic said on Wednesday.. . .  Full story

Austria puts Italian Hypo Alpe Adria up for sale

18/04 Austria plans to sell the remnants of the former Italian banking unit of failed lender Hypo Alpe Adria, asking potential buyers to submit expressions of interest by May 17, according to a notice to. . .  Full story

Glencore Coal chief development officer named Katanga CEO

17/04 Katanga Mining Ltd, a unit of Glencore Plc, on Wednesday named Glencore Coal's chief development officer Jeff Gerard to the top job, taking over from Danny Callow.. . .  Full story

GLOBAL MARKETS-Stocks skid as healthcare plunge obscures China rebound

17/04 Stocks around the globe fell on Wednesday as a continued flight from healthcare shares dragged on Wall Street, overshadowing upbeat economic data from China.. . .  Full story

Third Point to eye corporate governance more closely as it makes new bets

17/04 Hedge fund Third Point LLC, which sometimes pushes companies to perform better, said it is beginning to look more closely at corporate governance issues, including executive pay, as it evaluates future investments.. . .  Full story

Arabica plunges to 13-1/2-year low, cocoa up on demand signals

17/04 Arabica coffee futures on ICE fell to a 13-1/2-year low on Wednesday, weighed down by the continued supply glut and a weaker Brazilian currency, while London cocoa rose to a three-month high, buoyed by. . .  Full story

METALS-China growth propels copper prices to 9-month high

17/04 Copper prices hit a nine-month high on Wednesday as firmer-than-expected economic growth figures from China boosted expectations for higher demand in the world's top metals consumer. China's economy grew at a. . .  Full story

InVivo's grain trading chief leaving French firm

17/04 Stephane Bernhard, head of grain trading at InVivo, is leaving the French agricultural group, a spokeswoman said on Wednesday, confirming earlier comments from sources familiar with the move.. . .  Full story

EU states force clearing of Estonian, Danish regulators over Danske Bank

17/04 National banking supervisors who control the European Union banking watchdog effectively forced it to clear financial regulators in Estonia and Denmark, who were investigated in relation to suspected money laundering activities by Danske Bank, a. . .  Full story

London's shares off 6-month highs, Bunzl suffers worst day in a decade

17/04 Britain's FTSE 100 was off its six-month high as a fall in miners over Vale's plans to reopen a major Brazilian mine offset gains in banks after upbeat data from China, while Bunzl sank. . .  Full story

France to ban titanium dioxide whitener in food from 2020

17/04 France will ban the use of titanium dioxide as a food additive from 2020 after the country's health and safety agency said there was not enough evidence to guarantee the safety of the substance.. . .  Full story

'Best times over' for Germany, government slashes growth forecast

17/04 The German government is eyeing incentives to boost corporate research and development after cutting its forecast for 2019 economic growth for the second time in three months, reflecting a worsening slowdown driven by a recession. . .  Full story