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Bp Sticks With Russian Business, CEO Looney Says
Date: February 15, 2022
CAIRO (Reuters) – BP is sticking with its Russian oil and gas business, which has so far been unaffectd by simmering tensions between Russia and the West, Chief Executive Bernard Looney said on Monday. BP is the largest foreign investor in Russia with a 19.75% stake in the country’s national oil company Rosneft. It also holds...
Amd Closes Record Chip Industry Deal With Estimated $50 Billion Purchase of Xilinx
Date: February 15, 2022
By Jane Lanhee Lee OAKLAND, Calif. (Reuters) – Semiconductor designer Advanced Micro Devices Inc (AMD) said on Monday it has finalized the purchase of Xilinx Inc in a record chip industry deal valued at about $50 billion, giving it an extra edge in the key data center market. The closing of the deal comes on...
Exclusive-Iraq’s $27 Billion TotalEnergies Deal Stuck Over Contract Wrangling
Date: February 15, 2022
By Aref Mohammed, Rowena Edwards and Dmitry Zhdannikov BASRA/LONDON (Reuters) – A $27 billion deal between France’s TotalEnergies and Iraq that Baghdad hoped would reverse the exit of oil majors from the country has stalled amid disputes over terms and risks being scrapped by the country’s new government. Iraq has struggled to attract major fresh...
Top Investor Urges Siemens Energy to Take Full Control of Wind Turbine Business
Date: February 15, 2022
FRANKFURT (Reuters) – Siemens Energy should buy the rest of struggling wind turbine division Siemens Gamesa, Union Investment said on Monday, the first such demand by a major investor since a recent profit warning and leadership change. Siemens Gamesa last month issued its third profit warning in nine months, a move that has led parent...
France’s Capgemini 2022 Margin Growth Likely Capped by Costs
Date: February 15, 2022
(Reuters) -Gains in French IT consultancy Capgemini’s operating margin this year will likely be held back by inflationary pressures on salary and the cost of returning to offices, the company said after reporting robust results on Monday. The firm, which offers its services to industries ranging from telecommunications to aerospace, expects a 2022 operating margin...
Price Increases to Help Michelin Exceed Pre-Pandemic Profits This Year
Date: February 15, 2022
PARIS (Reuters) – Michelin expects this year’s profits to exceed pre-pandemic levels, the French tyre maker said on Monday, as it posted better-than-expected 2021 results helped by volume and price increases that offset inflationary pressures. The company expects its segment operating profit to rise to more than 3.2 billion euros ($3.6 billion), above the 3.01...