Stellantis plunges after taking 22 billion euros hit on EVs
The writedowns, which include some 6.5 billion euros in cash payments mainly to compensate suppliers Stellantis shares fell the most on record after the automaker announced 22…
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Seatrium unit faces 130 million euros in claims from consortium partner amid arbitration proceedings
Seatrium adds that it is currently ‘unable to definitively ascertain the financial impact, if any’ Seatrium New Energy (SNE), a wholly owned subsidiary of Seatrium, and Norwegian energy…
Mapletree acquires logistics facility in the Netherlands for 32.3 million euros
Since entering the European logistics market in 2018, the group has amassed 82 logistics assets across eight countries Mapletree Investments has expanded its logistics presence in Europe…
Telefonica to cut 5,500 jobs with total cost of 2.5 billion euros
The Spanish carrier has signed an agreement with unions to implement the exit plans Telefonica will book a cost of 2.5 billion euros (S$3.8 billion) to pay for the exit of about 5,500…
Stoneweg Europe Stapled Trust divests office asset in Italy for 34 million euros
Following the divestment, the trust’s exposure to Italy will fall from 18% to 17% The managers of Stoneweg Europe Stapled Trust (Sert) on Friday (Dec 19) said that it has entered an…
Google faces 110 million euros French asset freeze after Russian ruling, documents show
[PARIS/MOSCOW] The administrator of Google’s defunct Russian business has obtained a temporary freeze on some 110 million euros (S$167 million) of the Alphabet-owned company’s assets in…
X hit with 120 million euros EU fine for breaching content rules, TikTok settles
Europe’s Big Tech crackdown to boost competition and consumer choice has drawn criticism from Trump’s administration Elon Musk’s social media company X was fined 120 million euros (S$181…
Novo gets 15 billion euros of orders for Akero acquisition bonds
Novo Nordisk has pulled in more than 15 billion euros (S$22.6 billion) of investor orders for its multi-tranche bond sale, more than triple the amount the Danish drugmaker is seeking for…
ABN Amro to buy NIBC Bank from Blackstone for 960 million euros
The deal will cut the Dutch bank’s CET1 capital ratio by about 70 basis points at closing ABN Amro Bank said it will acquire NIBC Bank from Blackstone for about 960 million euros (S$1.45…
Stoneweg Europe Stapled Trust divests Slovakia portfolio for 70 million euros
This comes as it focuses on Western European markets with ‘deeper liquidity and stronger tenant demand’ Stoneweg Europe Stapled Trust (Sert) has divested its entire Slovakia investment in…
Ikea profit falls 26% to 1.7 billion euros as US tariffs fuel costs
Overall sales from the company’s stores across 63 markets around the world fall for a second year in a row Sweden’s Inter Ikea, which supplies furniture to Ikea stores around the world,…
Digital euro could drain up to 700 billion euros of deposits in bank run, ECB says
The ECB has presented the digital currency as an alternative to US-dominated means of payment A digital euro could drain up to 700 billion euros (S$1.1 billion) in deposits during a run on…
BBVA has 8 billion euros to fund mandatory bid for Sabadell if needed: CEO
A combined entity would become one of the largest lenders in Europe by assets, with about one trillion euros [MADRID/LONDON] BBVA has eight billion euros (US$9.4 billion) in capital for a…
Stoneweg Europe Stapled Trust divests Italy asset for 11.4 million euros, completes sale in Poland
The completion of the divestment is subject to the customary conditions and is expected in the fourth quarter of this year The managers of Stoneweg Europe Stapled Trust (Sert) on Thursday…
ASML invests 1.3 billion euros on Europe’s AI champion Mistral
The deal provides Mistral with a major injection and makes it one of Europe’s most valuable private companies ASML Holding is investing 1.3 billion euros (S$2 billion) in France’s Mistral…
Shein Fined 1 Million Euros by Italian Competition Authority for Misleading Sustainability Claims
MILAN — Shein has been fined by the Italian Competition Authority, or AGCM, for alleged misleading and omissive green claims, marking the second financial sanction by a European authority…
China’s JD.com to acquire German electronics retailer Ceconomy for 2.2 billion euros
[DUESSELDORF, Germany] JD.com is set to acquire German electronics retailer Ceconomy in a 2.2-billion-euro (S$3.3-billion) deal at 4.60 euros a share that Ceconomy’s CEO told Reuters would…
VW cuts outlook after US tariffs added 1.3 billion euros in costs
Volkswagen lowered its financial outlook for the year, with the escalating cost of President Donald Trump’s tariffs weighing on earnings at the Audi and Porsche brands. The automaker now…
Haagen-Dazs maker prices debt for 4.4 billion euros payout to owners
Froneri International, the maker of Haagen-Dazs ice cream, is wrapping up commitments for a debt deal to help fund one of the largest shareholder payouts on record, as its private equity…
Hermès bag belonging to Jane Birkin sells at Sotheby’s for 8.6 million euros
Sketched out on an air sickness bag, the first Birkin handbag—the prototype for fashion’s must-have accessory—sold for a staggering 8.6 million euros ($10.1 million), including fees, on…
Germany’s 34.1 billion euros pension gives mandate to China stock fund
A German pension fund has tapped a Chinese firm’s Hong Kong arm to help it invest in local stocks, in a rare move among global allocators that have been cautious about gaining exposure to…
Shein Fined 40 Million Euros for Fake Discounts by French Competition Authority
PARIS – France is continuing to take aim at Shein, this time from another angle. The ultra-fast fashion giant has been fined a record 40 million euros by the France’s anti-trust authority,…
France fines retailer Shein 40 million euros for misleading discounts
A probe of thousands of products on Shein’s French site finds 57% of advertised discounts do not actually offer lower prices France’s antitrust agency said on Thursday (Jul 3) it…
Stoneweg European Business Trust invests 50 million euros in fund with early-stage data centre sites
The manager of Stoneweg European Business Trust (Sert) announced on Tuesday (Jun 24) that the stapled trust has made a 50 million euros (S$74.4 million) investment in the Stoneweg Icona…