Exclusive: Lufthansa abandons process to buy stake in Spain's Air Europa
"After thorough analysis and intensive negotiations, we have decided against taking a stake in Air Europa at this time," the spokesperson said.
Globalia, the family owned company controlling Air Europa, declined to comment.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
41 minutes ago
- Reuters
Banco BPM profit beats forecasts with Anima boost after UniCredit walks away
MILAN, Aug 5 (Reuters) - Banco BPM ( opens new tab on Tuesday beat profit expectations helped by fees earned through newly acquired fund manager Anima Holding, and confirmed the full-year outlook after staving off a takeover by larger peer UniCredit ( opens new tab. Banco BPM became a takeover target for UniCredit in November, soon after acquiring a stake in Monte dei Paschi di Siena ( opens new tab - stoking speculation about an eventual tie-up with the state-backed rival. The UniCredit bid, which collapsed last month after running into government opposition, is one of a dozen takeover offers reshaping Italian finance. Asked about Banco BPM's future M&A moves, CEO Giuseppe Castagna said his bank owned 9% of Monte dei Paschi (MPS), which could "show the way" forward but, in any case, it had to see first how MPS' current bid for Mediobanca ( opens new tab turned out. After UniCredit swooped on BPM, MPS launched an offer to acquire merchant bank Mediobanca which ends on Sept. 8. "We'll see what happens to MPS after the Mediobanca deal," Castagna said. Earnings for the three months through June are the first set of figures to include Anima, which Banco BPM managed to buy as it strived to fend off UniCredit. Second-quarter net profit stood at 704 million euros ($815 million), up from 380 million a year earlier and above an LSEG consensus estimate of 646 million euros. Revenues met expectations at 1.55 billion euros with a 9.6% rise in fees which more than offset a 3.9% decline in net interest income amid lower interest rates. The bank, which has long attracted takeover interest due to its roots in Italy's wealthy north, confirmed its full year net profit would be well 1.95 billion euros. Banco BPM's main shareholder is Credit Agricole ( opens new tab, a long-standing commercial partner. The French bank, which invested in BPM in 2022 to help its defence against UniCredit, recently bought derivatives to raise its holding to 20.1% and book a portion of BPM's earnings into its own accounts. The core capital ratio stood at 13.3% at the end of June, hit by Anima's acquisition but above BPM's 13% target, partly thanks to risk-transfer securitisation deals.($1 = 0.8639 euros)
Daily Mail
41 minutes ago
- Daily Mail
Report: Putin could end aerial bombardment of Ukraine to avoid Trump sanctions
Russia is considering ending its aerial bombardment of Ukraine to avoid US trade sanctions on Friday, according to reports. The Kremlin would continue waging the conflict but would desist from rocket attacks on Ukraine's cities which serve no military purpose. This would be the first concession granted by Russia since the conflict began three and a half years ago, it if transpires. The Russian plot was reported by Bloomberg last night as US peace envoy Steve Witkoff was expected to travel to Moscow for talks. He is expected to hold urgent discussions with senior Kremlin officials today [Wednesday] in a bid to bring Russia to the negotiating table. Russia could face economic sanctions from Friday, affecting itself and trading partners such as China and India, unless Vladimir Putin agrees to talks. President Trump initially gave President Putin 50 days to strike a peace deal then cut the time to '10 to 12 days'. Ahead of the deadline, Russia has pulled out of a nuclear missile agreement intended to limit numbers of short to medium range missiles in Europe. Witkoff has been criticised for the tone of his previous visits to Russia. At times he has appeared fawning in Putin's presence and has failed to secure any concessions. After one meeting earlier this year, Putin presented Witkoff with a portrait of President Trump to take back to the White House. Yesterday afternoon [Tues], Ukraine's President Volodymyr Zelensky confirmed on social media he has spoken President Trump. But he did not mention the deadline. President Zelensky described their conversation as 'productive' with the 'key focus of course being ending the war'. He added Ukraine and the United States have 'coordinated our positions' while the Russians have 'intensified the brutality of their attacks'. President Trump's plan is to hit Russia with 'secondary tariffs' in a bid to end the war. These will punish states that purchase Russian energy supplies, making it more expensive for these countries to sell goods into the United States. As a major importer of Russian oil, India is particularly vulnerable. Its government has protested the unfairness of the strategy, claiming India's critics also import Russian goods. Trump has accused of India of 'fueling [Russia's] war machine'. India has called the 100 per cent secondary tariffs 'unjustified and unreasonable'. Ukraine claimed earlier this week that it has found Indian-made components inside Russian attack drones fired at its cities. Indian Prime Minister Narendra Modi is also said to be personally close to Putin. They appear to share a warm relationship and are economic allies. Putin is widely expected to ignore Trump's deadline. While the US President has repeatedly excused Putin's failure to agree peace terms. But with President Trump under pressure in the US over his connections to sex trafficker Jeffrey Epstein, he may adopt a tougher stance towards Putin. President Trump signalled his intent last week by publicly stating he had repositioned a pair of US nuclear submarines closer to Russia to keep the Kremlin in check. Russia responded strongly declaring it was pulling out of a nuclear missile agreement due to 'destabilising actions' by Western powers.
Reuters
an hour ago
- Reuters
Ypsomed to move production to Germany, increase output in US, Bloomberg News reports
Aug 5 (Reuters) - Swiss medical technology company Ypsomed (YPSN.S), opens new tab is planning to move some production to Germany and increase its output in the U.S. due to the threat of 39% tariffs on imports from Switzerland, Bloomberg News reported on Tuesday, citing its CEO Simon Michel.
