Vivendi stock rises as AMF requires buyout offer for minority shareholders
The AMF said Vincent Bolloré and its holding company will have to file a squeeze-out offer within six months, requiring it to buy all the shares owned by minority shareholders to delist Vivendi from the stock exchange.
The process will only close after the French Supreme Court rules on pending appeals, it said.
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The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US Email * SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice Tesla shares fell on Thursday after CEO Elon Musk said the company could face a 'few rough quarters' as it transitions to a future focused less on selling cars and more on offering self-driving taxis. Many prospective buyers have been turned off by Musk's foray into right-wing politics, and the competition has ramped up in key markets such as Europe and China. Revenue dropped by 12 per cent and profit fell by 16 per cent as the electric vehicle maker reported another quarter of lackluster financial results. Revenues and profits have both fallen at Tesla ( AP ) Tesla faces the loss of the $7,500 EV tax credit and stands to make much less money from selling regulatory credits to other automakers after recent changes to federal tax law. President Donald Trump's tariffs on countries including China and Mexico will also cost Tesla hundreds of millions of dollars, the company said on its earnings call. Musk spent the call talking less about car sales and more about robo-taxis, automated driving software and robotics, which he says is the future of the company. But he acknowledged those businesses are a ways off from contributing to Tesla's bottom line. Tesla began a rollout in June of its paid robo-taxi service in Austin, Texas, and hopes to introduce the driverless cabs in several other cities soon. Musk told analysts that the service will be available to probably 'half of the population of the U.S. by the end of the year – that's at least our goal, subject to regulatory approvals.' 'We're in this weird transition period where we'll lose a lot of incentives in the U.S.,' Musk said, adding that Tesla 'probably could have a few rough quarters' ahead. He added, though, 'Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla's economics are not very compelling.' In early trading Thursday, Tesla share were down 8 per cent to around $305.
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Earnings and trade hopes send FTSE 100 to new high
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The yield on the US 10-year Treasury was quoted at 4.4%, stretched from 4.38%. The yield on the US 30-year Treasury was quoted at 4.94%, unmoved from Wednesday. In London, BT surged 10% after what Berenberg called a 'reassuring' first-quarter trading update. Berenberg said earnings before interest, tax, depreciation and amortisation was slightly ahead of consensus, with Openreach the main driver of this beat. In addition, BT said Virgin Media O2 chief financial officer Patricia Cobian will replace Simon Lowth as BT's chief financial officer, joining in the summer of 2026. Mr Lowth has been chief financial officer for for nine years, and will retire following a handover to Ms Cobian. BT will announce the date of Ms Cobian's arrival 'in due course'. Reckitt Benckiser jumped 10% as it raised full-year guidance, lifted its dividend and launched a new share buyback, as it said its strategic reset is bearing fruit. 'This is a strong first-half performance with Core Reckitt growing like-for-like net revenues 4.2%, demonstrating the strength of our Powerbrands and the positive impact of the strategy we launched a year ago,' chief executive Kris Licht said. The maker of Nurofen painkillers and Strepsils lozenges said pre-tax profit fell 14% to £1.31 billion in the six months to June 30 from £1.52 billion a year prior, as revenue slipped 2.6% to £6.98 billion from £7.17 billion. But like-for-like sales rose 1.5% in the half-year, and by 1.9% in the second quarter, Reckitt said. Within core brands, Reckitt said like-for-like sales increased by 4.2%. Reckitt now targets like-for-like net revenue growth of above 4% in 'Core Reckitt' for 2025, improved from previous guidance of 3% to 4% growth. Lloyds Banking Group edged up 0.9% after it increased its dividend ahead of half-year earnings growth and confirmed its full-year guidance, citing strategic progress and strong capital generation. Other blue-chips to benefit from well-received results were Howden Joinery, Vodafone and Airtel Africa, up 8.7%, 3.6% and 7.2% respectively. On the FTSE 250, media firm ITV jumped 13% after its earnings, online trading platform IG rose 8% as it accompanied results with a new share buyback, and an upbeat trading update boosted building materials company Wickes 3%. The biggest risers on the FTSE 100 were BT Group, up 20.8p at 220.2p, Reckitt Benckiser, up 518p at 5,558p, Howden Joinery, up 73p at 908.5p, Airtel Africa, up 13.2p at 196.3p and Ashtead Group, up 191p at 5,048p. The biggest fallers on the FTSE 100 were SSE, down 60.5p at 1,851.5p, Beazley, down 20.5p at 889.5p, Fresnillo, down 30p at 1,433p, 3i Group, down 80p at 4,264p and BP, down 6.8p at 397.7p. Brent oil was quoted higher at 69.40 dollars a barrel in London on Thursday, from 68.24 dollars late Wednesday. Gold eased to 3,373.34 dollars an ounce against 3,412.38 dollars. Friday's local corporate calendar sees half-year results from lender NatWest, property portal Rightmove and a trading statement from pub operator Mitchells & Butlers. The global economic calendar on Friday has UK retail and consumer confidence data plus US durable goods orders figure
