By Reuters Staff
3 Min Read
PARIS, May 3 (Reuters) - Energy group EDF’s share of the French power market is at risk of plummeting if a restructuring plan to improve its financing situation does not go ahead, its chief executive said in a letter to unions.
Under the terms of the plan, which faces strong opposition from unions who fear it could lead to job cuts, France hopes to place state-run EDF’s debt-laden and capital-hungry nuclear business into a holding company that would be fully state owned.
The holding company would control a separate entity housing the more lucrative parts of the business, such as renewable energy, and free of its liabilities. Investors would be invited to acquire up to 30% of that unit.
By Reuters Staff
3 Min Read
(Corrects reference to Siemens Healthineers share price in 7th paragraph, to show shares seen up, not down; corrects last bullet on Europe earnings to remove Stellantis and Ambu, which are not reporting earnings on Monday)
May 3 - A look at the day ahead from Danilo Masoni.
Holidays in UK, Japan and China will keep a lid on activity on Monday but optimism about the economic outlook is intact and a busy calendar of macro and corporate releases this week could keep markets confident that the world is recovering.
The week is packed with central bank events with the Bank of England policy meeting on Thursday, where investors are preparing for a possible tapering of bond purchases, while U.S. payroll data on Friday should show the U.S. is leading the way out of the pandemic downturn.
By Reuters Staff
2 Min Read
MILAN, May 3 (Reuters) - Intesa Sanpaolo’s asset management unit Eurizon has bought the individual portfolio management business of Sicilian lender Banca Agricola Popolare di Ragusa (BAPR), the two companies said on Monday.
Through its Milan-based brokerage arm, BAPR managed assets worth 430 million euros ($518 million) as of end-December, of which around 170 million euros were individual portfolios for the bank’s customers, a joint statement said.
The deal, whose financial terms were not disclosed, is effective as of May 1.
The BAPR’s unit changing hands serves both retail and institutional customers, the companies said, adding that BAPR would continue to handle the needs of managed clients under the new distribution agreement.
NEW YORK/LONDON, May 3 (Reuters) - Gold prices rose and a gauge of global equity markets on Monday was not far from a record as investors remain bullish about the economic recovery ahead of U.S. data that is expected to underline the strength of the rebound.
The dollar eased against a basket of currencies as the yield on Treasury bonds retreated on data showing U.S. manufacturing activity grew at a slower pace in April.
The yield on the 10-year Treasury note traded 1.9 basis points lower at 1.6118% after a shortage of inputs restrained factory output as massive fiscal stimulus and rising vaccinations against COVID-19 unleashed pent-up demand.
By Reuters Staff
3 Min Read
SYDNEY, April 20 (Reuters) - Australia’s economic recovery has surpassed all expectations with an “above-trend” expansion likely this year and next, though the country’s central bank is still in no hurry to tighten policy settings, minutes of its April policy meeting showed on Tuesday.
FILE PHOTO: Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. REUTERS/Daniel Munoz/
The Reserve Bank of Australia (RBA) left rates at a record low 0.1% at its Apr. 6 meeting while reiterating its commitment to keep policy accommodative for as long as is necessary to pull down unemployment and push inflation higher.