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Search resuls for: "Neil Unmack"


4 mentions found


☆ Uniper’s new bailout mixes scars and consolations
  + stars: | 2022-09-21 | by ( George Hay | ) www.reuters.com   time to read: +4 min
Berlin on Wednesday effectively nationalised the stricken energy company by injecting 8 billion euros in fresh equity, and paying 78% Finnish state-held shareholder Fortum (FORTUM.HE) token compensation in return. Fortum boss Markus Rauramo has good cause to concede that his company should feel “humble” about the current deal. Deconsolidating Uniper’s losses from its accounts means Fortum’s balance sheet equity will therefore be 5 billion euros higher than it would have been. Follow @gfhay on TwitterCONTEXT NEWSGermany confirmed the nationalisation of struggling gas importer Uniper at a cost of 8 billion euros ($7.9 billion) on Sept. 21. In the second quarter alone, Fortum made a loss of 9.1 billion euros due to Uniper’s losses in gas trading.
☆ Porsche IPO has two investor roadblocks to clear
  + stars: | 2022-09-16 | by ( Neil Unmack | ) www.reuters.com   time to read: +5 min
The 2020 Porsche 911 Carrera 4S is introduced during a Porsche press conference at the Los Angeles Auto Show in Los Angeles, California, U.S., November 28, 2018. Porsche’s valuation rests on how closely it can mimic peer Ferrari (RACE.MI), and what discount should be applied to its complex governance. VW’s influence in Porsche will be diluted by Porsche SE’s stake. Volkswagen will divide Porsche’s shares into voting ordinary and preferred shares, which carry no voting rights. Porsche’s valuation is likely to be between 70 billion euros and 80 billion euros, Reuters reported, citing a source close to the matter.
☆ ECB offers flimsy shield against Spain’s bank levy
  + stars: | 2022-09-15 | by ( ) www.reuters.com   time to read: +2 min
Its mandate as regulator is to ensure the European banking system is stable, rather than dabble in local matters. That means lenders would have to successfully argue that their capital buffers are under threat by a mere 3 billion euro levy that will be spread out across the sector. Up until now, lenders like Santander have been at pains to convince investors that they have ample capital to withstand a downturn. (By Aimee Donnellan)Follow @Breakingviews on TwitterRegister now for FREE unlimited access to Reuters.com Register(The author is a Reuters Breakingviews columnist. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ Ferrari’s SUV clears road to bold sales target
  + stars: | 2022-09-14 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Guglielmo Mangiapane/File PhotoMILAN, Sept 14 (Reuters Breakingviews) - Ferrari’s (RACE.MI) long-awaited Purosangue SUV will propel the Italian sports carmaker towards its bold revenue target read more . Rival Lamborghini’s Urus SUV is already on sale. That implies car sales of perhaps 5.4 billion euros, after excluding sponsorship and other revenue. That’s 1.2 billion euros of revenue. He could make 5.5 billion euros in car revenue before even hiking price tags.
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