Business

Uniper chairman calls for signal from Fortum to resolve dispute

Editorial Bureau May 27, 2019

FRANKFURT (Reuters) – Uniper’s chairman on Sunday said talks with major shareholder Fortum to resolve a dispute between the two companies were on hold after two of the German utility’s board members resigned. Fortum and Uniper have been at loggerheads since the Finnish

Business

Air New Zealand orders eight Boeing 787 jets for long-haul flights

Editorial Bureau May 27, 2019

WELLINGTON (Reuters) – Air New Zealand Ltd said on Monday it has ordered eight Boeing Co 787-10 Dreamliner jets worth $2.7 billion (2.12 billion pounds) at list prices, to be powered by General Electric Co engines, as part of a drive toward increased efficiency. New Zealand’s flag carrier also trimmed its earnings outlook citing higher […]

Business

Fiat Chrysler puts merger offer to Renault board

Editorial Bureau May 27, 2019

MILAN/PARIS (Reuters) – Fiat Chrysler has made a “transformative” merger proposal to Renault, the Italian-American carmaker said, in a deal that would create a new third-ranked global manufacturer. The plan, finalised in overnight talks with Renault, was being discussed at a meeting of the French group’s board early on Monday, and sent shares in

Business

United Airlines extends cancellations of Boeing 737 MAX flights into August

Editorial Bureau May 25, 2019

CHICAGO/SEATTLE (Reuters) – United Airlines said on Friday it is extending by one month its cancellations of Boeing Co 737 MAX flights, through Aug. 3, as the jetliner remains grounded following two fatal crashes. United, which operates 14 737 MAX jets, said the decision would lead to about 40 or 45 daily cancelled flights. The […]

Business

Take Five: It’s the end of May

Editorial Bureau May 25, 2019

(Reuters) – 1/THE MONTH OF MAY Theresa May stepped into 10 Downing Street in July 2016 with the express aim of taking Britain out of the European Union. She will depart as prime minister this summer having failed in that ambition. No one can say she didn’t try — after three attempts to get her […]

Business

UK employers stick to 2.5% pay deals in April – XpertHR

Editorial Bureau May 23, 2019

LONDON (Reuters) – British employers offered staff pay rises averaging 2.5% as part of wage settlements in the three months to April, industry data showed on Thursday, matching the trend seen earlier in 2019. Human resources data firm XpertHR said pay settlements had hovered around the same for the past four months, despite a small […]

Business

Royal Mail cuts dividend, ups investment in UK turnaround push

Editorial Bureau May 22, 2019

(Reuters) – Royal Mail Plc said on Wednesday it was slashing its dividend by 40% and would invest a further 1.8 billion pounds in its UK postal service over the next five years in the hope of turning the business around. The former British monopoly, which has struggled with changes in postal and courier services […]

Business

British Steel risks collapse with 25,000 jobs at stake

Editorial Bureau May 22, 2019

LONDON (Reuters) – British Steel, the country’s second largest steel producer, is on the brink of collapse unless the government agrees to provide an emergency 30 million pound ($38 million) loan, two sources close to the situation said. British Steel said negotiations had not concluded and it continues to work with all parties to secure […]

Business

Britain’s Nationwide profits fall on IT spending, mortgage market competition

Editorial Bureau May 21, 2019

LONDON (Reuters) – Britain’s Nationwide Building Society reported a 15% fall in profits for the year to April 4, as intense competition in the home lending market and increased spending on digital banking services ate into its margins. The bellwether mortgage lender said its net interest margin – a closely-watched measure of underlying lender

Business

Airbus’ programmes chief: trade tensions could impact customers

Editorial Bureau May 21, 2019

TOULOUSE, France (Reuters) – Airbus’ programmes chief said trade tensions could impact customers, although the sales chief at the European planemaker said its market remained “quite positive” and less dependent upon economic cycles than before. “The market remains quite positive,” Chief Commercial Officer Christian Scherer said at a