Companies

Sabadell Eyes €1.6bn Profit Amid BBVA's Adjusted Takeover Bid
October 3, 2024
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Sabadell Eyes €1.6bn Profit Amid BBVA's Adjusted Takeover Bid

Sabadell's CEO announced the bank could earn over 1.6 billion euros in net profit for 2024, reflecting strong first-half performance. Meanwhile, BBVA has adjusted its hostile takeover bid for Sabadell, valuing the bank at approximately 10 billion euros following dividend payments and changes in BBVA's share price.

TotalEnergies faces $2.1bn tax hit but continues $2bn buybacks
October 3, 2024
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TotalEnergies faces $2.1bn tax hit but continues $2bn buybacks

TotalEnergies faces a $2.1 billion hit from EU and UK windfall taxes but expects higher LNG cash flow and will continue its $2 billion share buybacks into 2023.

Coca-Cola plans to axe hundreds of jobs in Germany
October 3, 2024
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Coca-Cola plans to axe hundreds of jobs in Germany

Coca-Cola will close five production and logistics sites in Germany, cutting around 500 jobs to streamline operations and adapt to changing logistics trends. The company is also investing in renewable energy through a partnership with Pipeline Organics, aiming to use 100% renewable electricity across all markets by 2030.

Starling Bank fined £29mn for lax crime controls
October 3, 2024
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Starling Bank fined £29mn for lax crime controls

Starling Bank was fined £29 million for failing to prevent financial crime, opening accounts for high-risk customers and missing key sanctions screenings. The bank has apologized and implemented corrective measures.

Boeing Plans $10 Billion Stock Sale to Tackle Cash Crunch
October 1, 2024
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Boeing Plans $10 Billion Stock Sale to Tackle Cash Crunch

Boeing plans to raise $10 billion through a stock sale to offset strike-related cash losses and maintain its credit rating, while dealing with 737 Max production delays.

AP Møller Holding to Invest in Europe's First Green Plastics Factory
September 30, 2024
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AP Møller Holding to Invest in Europe's First Green Plastics Factory

AP Møller Holding, the investment group of the Maersk family, is spearheading efforts to reduce reliance on fossil fuels in plastics production. The group plans to invest €1.5 billion in a groundbreaking factory in Antwerp, Belgium, which will produce plastics using green methanol, a key step in tackling climate change. The factory will be Europe's first large-scale facility to make plastics without fossil fuels, offering a sustainable alternative to traditional methods.

Stellantis Issues Profit Warning Amid Rising Costs
September 30, 2024
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Stellantis Issues Profit Warning Amid Rising Costs

Stellantis, the automotive group behind brands like Fiat, Jeep, and Citroën, has issued a profit warning, citing higher expenses, intensified competition, and declining U.S. sales. As a result, its shares plunged by 13% on stock exchanges in Milan and Paris, reflecting growing concerns in the European car industry.

Netherland's Rabobank Invests €1bn in Mid-Range Rental Homes
September 29, 2024
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Netherland's Rabobank Invests €1bn in Mid-Range Rental Homes

Rabobank is investing €1 billion in mid-range rental housing through its subsidiary BPD, continuing its support for this sector despite new rent regulations under the Affordable Rent Act. The investment aims to build around 3,000 homes, adding to the 1,400 homes already constructed under a previous €1 billion investmen

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