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Sterling flirts with three-month high vs euro
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Adverty and Drive Ahead! developer Dodreams announce exclusive in-game ad partnership
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Amid clouds on economic horizon, Spain’s jobless rate stays below 3 million mark
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Anglo American slashes dividend after earnings dive
ArcelorMittal profit beats expectations, but sees rising risks
Date: July 28, 2022
By Charlotte Van Campenhout AMSTERDAM (Reuters) -ArcelorMittal, the world’s second-largest steelmaker, reported higher than expected second-quarter earnings on Thursday helped by sharply increased prices, but saw threats from spiralling inflation, the war in Ukraine and China’s COVID-19 restrictions. The Luxembourg-based company did not give a specific forecast, but highlighted downside risks. Inflationary pressure presented a...
Finland’s Neste boosted by strong refining margins
Date: July 28, 2022
By Essi Lehto HELSINKI (Reuters) – Finnish energy company Neste on Thursday posted higher-than-expected second-quarter results as volatile energy markets drove up refining profits, but warned of slightly lower oil product margins and renewable products sales volumes ahead. “The war in Ukraine has had a significant impact on international energy markets, leading to volatile and...
Porsche listing plans on track, Volkswagen CFO says
Date: July 28, 2022
BERLIN (Reuters) – Preparation for a listing of Volkswagen’s sportscar brand Porsche later this year is continuing, with a decision expected in late summer, the carmaker’s chief financial officer said on Thursday. “We continue to execute our plan for a potential IPO of Porsche later in this year. Preparation is continuing with a decision expected...
Repsol profit doubles on soaring oil prices but refining weighs
Date: July 28, 2022
By Isla Binnie MADRID (Reuters) -Spanish energy group Repsol posted on Thursday a doubling in first-half net profit, boosted by high oil and gas prices, but its share price suffered as investors had wanted more. Rapidly recovering demand after COVID-19 lockdowns propelled energy prices to highs that have been driven to records by Russia’s invasion...
Analysis-As inflation soars, European consumer goods M&A slows
Date: July 28, 2022
By Richa Naidu LONDON (Reuters) – As a cost-of-living crisis with no end in sight sends shockwaves through Europe, deals in the region’s retail and consumer-products industries have slowed dramatically – even more so than in other sectors, data shows. Record inflation around the world has changed the way people shop, with many families trading...
Spain’s Telefonica raises annual forecast, posts 320 million euro Q2 profit
Date: July 28, 2022
MADRID (Reuters) -Spanish telecom firm Telefonica on Thursday raised its annual revenue and earnings outlook and reported a net profit of 320 million euros ($326.50 million) for the second quarter. The company’s core earnings came in at 3.15 billion euros, with overall revenue at 10.04 billion euros. A company-provided consensus of analysts expected net profit...