BASF aims for additional 200 million euros in cost cuts Shares sink 6, worst performer on DAX Share buyback programme cut short BASF to slash 2,600 jobs, mainly in Germany LUDWIGSHAFEN, Germany, Feb 24 Reuters BASF said it would cut 2,600 jobs and halt its share buybacks as it warned of a further decline in earnings […]

Feb 22 Reuters Chip designer Nvidia Corp forecast firstquarter revenue above Wall Street estimates on Wednesday as its CEO said use of its chips to power artificial intelligence AI services like chatbots had gone through the roof in the last 60 days. The sales outlook drove Nvidia39;s shares up 8 in extended trading. The world39;s largest […]

NEW YORK, Feb 22 Reuters Billionaire investor Daniel Loeb told retailer Bath Body Works on Wednesday that his hedge fund Third Point plans to launch a board challenge and said the company39;s addition of new directors does not address his concerns about governance, capital allocation and executive pay. As fiduciaries, we have no choice but […]

MILAN, Feb 22 Reuters British private equity firm Cinven has pumped 100 million euros 106 million into Eurovita, the Italian life insurer said on Wednesday after it became the first insurance company in the country to be placed under temporary administration. Cinvenowned Eurovita has seen its cash reserves depleted by the sudden surge in bond […]

MEXICO CITY, Feb 22 Reuters Mexican lowcost carrier Volaris is optimistic the country will recover the Category 1 safety rating, which allows airlines to open new U.S. routes, in the next six months, its chief executive said on Wednesday. The U.S. Federal Aviation Administration downgraded Mexico in May 2021, arguing that the country fell short […]

Feb 23 Reuters Australia39;s Nitro Software Ltd said on Thursday that private equity firm Potentia Capital raised its takeover offer for the software maker to A532.3 million about 364 million, trumping a rival offer by KKR Inc backed Alludo. Potentia and Alludo have been involved in a bidding war for Nitro since last October, as high inflation […]

HOUSTON, Feb 22 Reuters Exxon Mobil Corp XOM.N on Wednesday warned in a securities filing of potential risks to its Kazakhstan oil operations, which provided 2.5 billion in earnings last year. Threats to Kazakhstan oil exports have been in the spotlight since Moscow invaded Ukraine a year ago this week. Exxon and Chevron are major holders […]

COLOMBO, Feb 22 Reuters Sri Lanka39;s Board of Investment on Wednesday approved two wind power plants by India39;s Adani Green Energy Ltd with a total investment of 442 million, a statement issued by the board said. The two wind power plants of 350 MW are scheduled to be commissioned in two years and accordingly, they will […]

Adj EBIT rose 17 in H2 to 10.949 bln euros FY margin on adj. EBIT at 13 Announces 1.34 euro per share dividend To launch 1.5 bln euro buyback programme Expects double digit margin, positive cash in 2023 MILAN, Feb 22 Reuters Fiat, Ram and Peugeot maker Stellantis beat profit forecasts on Wednesday due to strong […]

FMC up 12.1, Fresenius shares drop 3 Fresenius to give up strategic control over FMC Fresenius plans no sale of 32 stake in FMC Investors say sale is possible eventually CEO says new legal form offers option to divest BAD HOMBURG, Germany, Feb 22 Reuters Fresenius Medical Care shares hit their highest level in nearly seven […]