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Thyssenkrupp warns of slowing growth in green hydrogen sector

The group also revealed the tax credits it is relying upon to subsidise the clean hydrogen market in the US could potentially be delayed until after November election.

Business

Disney to invest $5bn in films and TV shows in the UK and Europe

The company’s streaming business, which includes Disney+, ESPN+ and Hulu also recorded its first ever profit in the third quarter of the financial year 2024.

Business

Siemens beats profit estimates on strong demand for electrification

The German tech giant reported a profit that was 11% higher than that recorded in the same period last year.

Business

Bayer reaps benefits of demand for new cancer and kidney medicines

German pharmaceutical giant Bayer AG released its second quarter and half year 2024 earnings on Tuesday morning, with the company seeing an average performance in the second quarter, due to the agricultural market environment becoming tougher.

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Business

British Airways' owner puts brakes on Air Europa takeover bid

IAG had offered a series of concessions to the EU regulators, including giving up take-off and landing slots to competitors but the regulators still saw the bid as potentially anti-competitive.

Business

Intel unveils plans to axe 15% of workforce in cost saving initiative

The company also issued a revenue warning for the third quarter of the year, revealing that it was planning to focus more on artificial intelligence semiconductors, instead of traditional data centre ones in the coming months.

Business

Turbulence set to continue at Lufthansa over the next few months

The airline has launched a turnaround programme that will focus on raising revenue, improving productivity and enhancing customer experience.

Business

Heineken beer sales fall flat on poor weather and lower sales in China

The rainy conditions during the Euros football championship made for disappointing sales at a time when beer and general alcohol sales would be expected to show a rise.

Business

Italian energy giant Eni reveals oil and gas expansion plans

The company says it is continuing to expand its oil and gas projects in the Republic of Congo and Ivory Coast.

Business

Stellantis profit plunges as automakers face industry challenges

French-Italian-American automotive giant Stellantis released its first half 2024 earnings on Thursday, reporting a net profit of €5.6bn, which was 48% less than the first half of 2023. Net revenue for the first half of the year was €85bn, which was 14% less than the corresponding period last year.

Business

TotalEnergies profit declines on reduced demand for refined products

TotalEnergies also announced a tie-up with a German renewable energy company RWE for OranjeWind, an offshore wind farm in the Netherlands.

Business

French pharma giant Sanofi ups profit forecast as Dupixent sales soar

The French pharmaceutical firm announces double-digit sales growth in the second quarter thanks to Dupixent and new products.

Business

French defence company Thales sees orders soar to record levels

Thales and Airbus could also be considering merging their space divisions in order to create a stronger and more competitive pan-European business.

Business

Brakes on Porsche profit outlook as alloy supply shortage kicks in

Shares in Porsche fell nearly 5% on Tuesday morning after the German sports car maker cut its sales and profitability outlook for 2024.

Business

Ryanair says summer fares will be lower as airline's profit slumps

Ryanair's first quarter results for the financial year 2025 results have revealed lower profits and a dampened summer fare guidance for shareholders.

Business

Volvo exceeds revenue expectations for Q2, but lowers sales forecast

The company is also continuing to invest heavily in the green transition and electric vehicles (EVs), despite concerns that EV demand in Europe may be tapering off now.

Business

Delta becomes latest airline to warn of profit hit due to Olympics

Back on 1 July, the Air France-KLM group also issued a similar profit warning about the Paris Olympics, preparing itself for a €180 million blow to revenue.

Business

Private equity bosses ponder leaving UK over Labour tax rise fears

Labour’s plans to close the “carrying interest” private equity sector loophole has led to several funds and executives considering moves to countries with more beneficial tax regimes, such as Italy and Spain.

Business

Mulberry hopes to bag a winner with new CEO after sales fall

Mulberry's share price has fallen 39% since January, amid a global decline in the luxury sector, mainly driven by shoppers from Asia cutting back.

Business

EY: The growth at all costs era is over. Sustainability is key

Businesses have never been under so much pressure to deliver on sustainability but balancing it with profitability is becoming increasingly complex in a world of geopolitical unrest and disinformation.