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Reuters - 1 day ago

Chile's Codelco signs letter of intent to collaborate with ABB on decarbonization

Chile's Codelco signs letter of intent to collaborate with ABB on decarbonization SANTIAGO, Oct 4 (Reuters) - Chilean state-run miner Codelco has signed a letter of intent with Swedish-Swiss technology company ABB to explore a collaboration focused on decarbonizing and automating its operations, the copper giant said in a statement Friday. The strategic collaboration between both companies would be a long-term one, Codelco COBRE.UL said, with the aim of identifying the miner's innovation needs t

Reuters - 4 days ago

Italy's Brembo sells Pirelli shares, Tronchetti's Camfin raises stake

UPDATE 3-Italy's Brembo sells Pirelli shares, Tronchetti's Camfin raises stake Pirelli shares sold at 5.07 euros each in ABB process Brembo raised 282.9 mln euros from share placement Camfin increased Pirelli stake to 25.28% Recasts after deal completion, Camfin statement By Giulio Piovaccari MILAN, Oct 2 (Reuters) - Brembo BRBI.MI has sold its entire 5.6% stake in tyre maker Pirelli PIRC.MI for around 283 million euros ($313 million), a move dampening speculation about a merger between the two

Reuters - 2 weeks ago

Siemens to carve out EV charging business

UPDATE 3-Siemens to carve out EV charging business Adds further comment from Siemens in paragraphs 9-10, 13 By Marleen Kaesebier and Miranda Murray BERLIN, Sept 23 (Reuters) - Siemens SIEGn.DE plans to carve out its electric vehicle (EV) charging business, Siemens eMobility, as it looks to grow in the rapidly evolving industry, the German conglomerate said on Monday.

Reuters - 2 weeks ago

India's BHEL gains on 61 bln rupee order win from NTPC

BUZZ-India's BHEL gains on 61 bln rupee order win from NTPC ** Shares of Bharat Heavy Electricals (BHEL) BHEL.NS climb as much as ~3% to 274 rupees, last up 1.7% ** The power and industrial equipments maker got order worth 61 bln rupees (about $731 mln) from NTPC NTPC.NS ** Order for supply of engineering, procurement and construction parts for a t

Reuters - 2 weeks ago

India's KEC International rises on 10.03 bln rupee order wins

BUZZ-India's KEC International rises on 10.03 bln rupee order wins ** Shares of KEC International KECL.NS rise as much as 3.6% to 975 rupees, last up about 1% ** Engineering and construction co gets orders worth 10.03 billion rupees ($120.2 million) across its railways, civil and cables business ** Avg rating of 22 analysts covering the stock at "h

Reuters - 3 weeks ago

SKF to spin off automotive unit, list it on Nasdaq Stockholm

UPDATE 4-SKF to spin off automotive unit, list it on Nasdaq Stockholm Plans to spin off automotive company on Stockholm exchange in 2026 Will retain higher-margin industrial business Split supported by two of its major shareholders Adds context and analyst comments from paragraph 2 By Elviira Luoma and Marie Mannes STOCKHOLM, Sept 17 (Reuters) - Sweden's SKF SKFb.ST plans to split into two separate companies by spinning off its automotive business with a separate stock market listing, with the p

Reuters - 3 weeks ago

UBS industry customers increasingly critical, survey finds

UBS industry customers increasingly critical, survey finds By John Revill ZURICH, Sept 16 (Reuters) - Nearly a quarter of Swiss industrial companies are unhappy with the service from UBS UBSG.S , notably in lending, since its 2023 Credit Suisse takeover, a survey found, in a blow to the bank's efforts to show it is not abusing its market dominance.

Reuters - 3 weeks ago

Alstom, Siemens, Tesco

EUROPE RESEARCH ROUNDUP-Alstom, Siemens, Tesco Sept 13 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Alstom, Siemens and Tesco, on Friday. HIGHLIGHTS * Alstom ALSO.PA : HSBC raises target price to EUR 26 from EUR 24 * Hexagon AB HEXAB.ST : HSBC cuts target price to SEK 110 from SEK 120 * Siemens AG SIEGN.DE : HSBC cuts target price to EUR 140 from EUR 150 * Tesco TSCO.L : Citigroup raises target price to 425p from 350p * Travis P

Reuters - 3 weeks ago

Swiss stocks - Factors to watch on September 13

Swiss stocks - Factors to watch on September 13 ZURICH/GDANSK, Sept 13 (Reuters) - Here are some of the main factors that may affect Swiss stocks on Friday: A survey of Swiss banks has highlighted international sanctions imposed on other countries, such as against Russia over Ukraine, as the greatest geopolitical risk to their business. ANALYSTS' VIEWS ABB ABBN.S - HSBC RAISES TARGET PRICE TO CHF 45 FROM CHF 43 ALCON ALCC.S - HSBC CUTS TARGET PRICE TO CHF 89 FROM CHF 91 LONZA LONN.S - HSBC RAISE

Reuters - 4 weeks ago

Activist investor Cevian ups stake in Baloise to 9.4%

UPDATE 1-Activist investor Cevian ups stake in Baloise to 9.4% Adds comment from Baloise, further details ZURICH, Sept 9 (Reuters) - Activist investor Cevian Capital has increased its stake in Baloise Holding BALN.S , it said on Monday, increasing its ability to force changes at the Swiss insurer. Cevian now holds around 9.4% in Baloise, the biggest investor in the company.

Reuters - 4 weeks ago

Activist investor Cevian ups stake in Baloise to 9.4%

Activist investor Cevian ups stake in Baloise to 9.4% ZURICH, Sept 9 (Reuters) - Activist investor Cevian Capital has increased its stake in Baloise Holding BALN.S , it said on Monday, increasing its ability to force changes at the Swiss insurer. Cevian now holds a position of around 9.4% in Baloise, becoming the biggest investor in the company. The investment is an increase from the 3.12% stake held by Cevian in Baloise revealed earlier this year .

Reuters - 4 weeks ago

Activist Cevian presses Swiss insurer Baloise for strategy reset, FT reports

UPDATE 1-Activist Cevian presses Swiss insurer Baloise for strategy reset, FT reports Updates with details paragraph 2 onwards Sept 9 (Reuters) - Activist investor Cevian is pressing for a strategic overhaul at Swiss insurance group Baloise BALN.S after building up a stake of more than 9% in the company, the Financial Times reported on Monday. The activist investor wants the management of the Swiss insurer to refocus on countries where it is strongest and has a high market share, and direct more

Reuters - 4 weeks ago

Australia's Westpac names new CEO, moving on from governance crisis

UPDATE 4-Australia's Westpac names new CEO, moving on from governance crisis Writes through with fresh current and former CEO quotes, updated shares By Byron Kaye and Adwitiya Srivastava Sept 9 (Reuters) - Westpac WBC.AX , Australia's second-largest mortgage lender by loans, promoted the head of its business and wealth unit to CEO, vowing to capitalise on improved governance while growing its business lending book.

Reuters - 4 weeks ago

India's KEC International hits record high on 14.23 bln-rupee order wins

BUZZ-India's KEC International hits record high on 14.23 bln-rupee order wins ** Shares of KEC International KECL.NS rise as much as 5.3% to a record high of 1040 rupees; last up 4.1% ** Engineering and construction co gets orders worth 14.23 bln rupees ($169.5 mln) to install transmission lines in Saudi Arabia ** KECL on track for fourth straight

Reuters - 1 month ago

Cummins India well set for buoyant demand after tighter norms, broker says

BUZZ-Cummins India well set for buoyant demand after tighter norms, broker says ** Brokerage Motilal Oswal sees Cummins India CUMM.NS "well positioned" to encash on strong demand of diesel generator sets after tighter emission norms ** CUMM rose as much as ~2% in the day ** Transition to CPCB IV+ emission norms, part of the government's efforts to

Reuters - 1 month ago

China's robot makers chase Tesla to deliver humanoid workers

China's robot makers chase Tesla to deliver humanoid workers Nearly 30 Chinese companies showed off models in Beijing this week China has called for mass production of humanoid robots by 2025 Tesla plans to deploy 1,000 Optimus robots in factories next year By Qiaoyi Li and Kevin Krolicki BEIJING, Aug 23 (Reuters) - China dominates the market for electric vehicles.

Reuters - 2 months ago

India economic, corporate events on August 21

DIARY- India economic, corporate events on August 21 BENGALURU, Aug 21 (Reuters) - Diary of India economic, corporate events on August 21. ECONOMIC, CORPORATE .BSE500 EVENTS: Key Speaker Local Time Location India Commerce Minister 0945 Policy think tank Pahle India Foundation event, New Delhi India Commerce Minister 1430 Industry body CII event, Ne

Reuters - 2 months ago

Norway's Morrow Batteries opens factory, plans first deliveries by year-end

CORRECTED-Norway's Morrow Batteries opens factory, plans first deliveries by year-end Corrects name of CEO in fourth paragraph to Lars Christian Bacher from Christian Bacher By Nora Buli ARENDAL, Norway, Aug 16 (Reuters) - Battery start-up Morrow on Friday opened Norway's first battery cell production site on the country's south coast, with plans to deliver the first units by the end of the year and adding more production step by step.

Reuters - 2 months ago

ABB India rises on beating Q2 profit estimates

BUZZ-ABB India rises on beating Q2 profit estimates ** Shares of engineering services firm ABB India ABB.NS rise as much as 4% to 8,263.75 rupees ** Co reported June-quarter profit of 4.43 billion rupees ($52.8 mln), beating analysts' estimates of 4.07 bln rupees ** Over 680,000 shares change hands by 10:54 a.m. IST, marking most active trading ses

Reuters - 2 months ago

Engineering firm ABB India beats Q2 profit view on electrification demand

Engineering firm ABB India beats Q2 profit view on electrification demand BENGALURU, Aug 8 (Reuters) - Engineering services firm ABB India ABB.NS reported a better-than-expected second-quarter profit on Thursday, driven by higher demand for its electrification products. Profit at the Indian arm of Switzerland's ABB ABBN.S rose 50% year-over-year to 4.43 billion rupees ($52.78 million) in the three months ended June 30. Analysts, on average, expected 4.07 billion rupees in profit, according to LS

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