ZURICH, May 6 Reuters Swiss wealth and asset manager Pictet has named Edmund Buckley head of the Direct Private Equity division as the Genevabased group expands its alternative investment business, it said on Friday. Buckley, who was previously a manager at private equity firm THI Investments, is expected to boost the business of direct investments […]

BERLIN, May 6 Reuters Adidas lowered expectations for 2022 after a firstquarter slump as renewed COVID19related lockdowns in Greater China continue to hit the German sportswear company. Firstquarter currencyadjusted sales shrank by 3 worldwide, to 5.3 billion euros 5.58 billion, while profit from continuing operations fell 38, to 310 million euros, it said on Friday. In […]

LONDON, May 5 Reuters European banks counted the rising cost of war in Ukraine on Thursday as France39;s Societe Generale, Credit Agricole and Italy39;s UniCredit upped provisions for the conflict without shattering investors39; confidence in their prospects. The Italian lender, one of Europe39;s banks most exposed to Russia where it runs AO UniCredit Bank, surprised […]

Books 800 mln euro in provisions on Russia Lowers fullyear profit goal by 1 bln euros Awaiting ECB approval of 3.4 bln euro share buyback Trading gains drive Q1 profit above consensus MILAN, May 6 Reuters Italy39;s biggest bank Intesa Sanpaolo on Friday cut its profit guidance for the year after setting aside 800 million euros […]

May 6 Reuters Holiday Inn owner IHG said on Friday that pentup demand and more hotel stays during the U.S. Spring Break lifted occupancy rates and prices, raising its revenue per room closer to prepandemic levels in the first quarter. As occupancy levels rise and due to the strength of our brands, our hotels are […]

SAO PAULO, May 5 Reuters Brazilian steelmaker Gerdau SA on Thursday reported firstquarter net profit roughly in line with market expectations as weaker results in Brazil were offset by an improvement in North America. Gerdau39;s net income reached 2.94 billion reais 597.96 million, down 17 from the previous three months but up 19 year on year. […]

ZURICH, May 5 Reuters Credit Suisse froze 10.4 billion Swiss francs 10.63 billion of wealthy clients39; assets in the first quarter under sanctions imposed in connection with Russia39;s invasion of Ukraine, the bank39;s financial report showed on Thursday. The Swiss bank39;s financial report gave more details of its firstquarter results, which were originally published last week.  […]

Shell adjust earnings hits 9.1 billion Results boosted by strong oil and gas trading Retains some exposure to Russia LONDON, May 5 Reuters Shell on Thursday reported a record firstquarter profit of 9.13 billion, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division. The last of the […]

May 4 Reuters Corteva Inc on Wednesday reported a 19.6 jump in firstquarter operating earnings, which beat Wall Street estimates, driven by strong demand for crop protection products such as herbicides and insecticides. A surge in corn and soybean prices has encouraged U.S. farmers into prebuying seeds and chemical sprays for spring season after the RussiaUkraine […]

Serbia blocked mine after mass environmental protests Rio says Jadar has impeccable environmental credentials Rio says Jadar offers big economic opportunity for Serbia MELBOURNE, May 5 Reuters Rio Tinto is eager to reopen talks with the Serbian government about its 2.4 billion Jadar lithium project, which was blocked ahead of the country39;s recent election, the company39;s […]