Business

Deutsche Telekom expects European tower business to further consolidate

Deutsche Telekom (DTEGn.DE) expects the European tower business to consolidate further and said it now had capable partners on board, after announcing earlier on Thursday that it would sell 51% of its tower business to a consortium. Telekom will still hold a significant stake in the industry after the transaction and benefit from further growth, […]

Business

Spain’s Opdenergy plans market debut on July 22

Spanish renewable power group Opdenergy plans to start trading on July 22 following the approval of its initial public offering by the supervisor, the company said in a statement late on Wednesday. Opdenergy’s is planning to set its final price on July 21 after previously determining a price range at between 4.75 euros and 5.40 […]

Business

Ericsson’s core profit misses as rising costs hit margins

Ericsson (ERICb.ST), the Swedish telecoms equipment firm facing bribery investigations, reported a rise in second-quarter core earnings on Thursday that missed expectations as margins were hit by higher component and logistics costs. Shares of the company dropped 11% in morning trading to their lowest since March 2020. The stock has lost about a third of […]

Business

CICC appoints new investment banking head -sources

China International Capital Corp Ltd (CICC) has appointed veteran dealmaker Wang Shuguang to lead its investment banking business, said two people with knowledge of the matter. The appointment, effective July 11, comes as Wang Sheng, the bank’s previous investment banking head, has moved to China Galaxy Securities (601881.SS) to take over as chief executive of […]

Business

Barclays seeks entry into China’s $4.3 tln asset management market -sources

Barclays (BARC.L) is seeking a Chinese banking partner to set up an asset management joint venture in the country, two people with knowledge of the matter said, as part of British lender’s plans to expand its footprint in the world’s second-largest economy. Barclays’ majority-owned China asset management venture will be set up via its unit […]

Business

Pepco revenue rises as inflation-hit shoppers lean on discount stores

Poundland and Dealz owner Pepco Group (PCOP.WA) on Thursday posted a 17.1% rise in third-quarter revenue as cash-strapped shoppers fuelled demand at its expanding chains of discount stores. Revenue rose to 1.21 billion euros ($1.21 billion) on a constant-currency basis in the three months ended June 30, with like-for-like sales gaining 4.9%. The company opened […]