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Oilfield firm Baker Hughes beats profit estimates on international demand, LNG bets

(Reuters) -U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Tuesday, powered by strong demand for its services and equipment from LNG producers, as well as offshore and international markets. The company concludes fourth-quarter reports from the world’s top oilfield services providers. International demand also helped rivals SLB and Halliburton …

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Senior UK Conservative tells party ditch Sunak or face ‘annihilation’

By Farouq Suleiman and Elizabeth Piper LONDON (Reuters) -Senior British Conservative lawmaker Simon Clarke called on Tuesday for a change of prime minister, saying Rishi Sunak was leading the governing party into an election later this year “where we will be massacred”. Since Sunak pushed through his Rwanda immigration plan last week, ignoring the demands …

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EDF’s UK Hinkley Point nuclear plant start date delayed again, costs mount

By Forrest Crellin, Benjamin Mallet and Nina Chestney PARIS/LONDON (Reuters) -French utility EDF on Tuesday again pushed back the start date on its long-delayed 3.2-gigawatt (GW) Hinkley Point C reactor plant in Britain to at least 2029, with a new estimated cost of between 31 billion and 34 billion pounds ($43.06 billion) based on 2015 …

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North Korea tears down monument symbolizing union with South -report

SEOUL (Reuters) -North Korea has demolished a major monument in its capital that symbolized the goal of reconciliation with South Korea on the orders of leader Kim Jong Un, who last week called South Korea a “primary foe” and said unification was no longer possible. Satellite imagery of Pyongyang on Tuesday showed that the monument, …

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British taxpayers wont bear cost of Hinkley Point C overruns – UK government

LONDON (Reuters) – British taxpayers will not bear the cost of budget overruns and delays on the construction of Hinkley Point C nuclear power plant, the government said on Tuesday following an announcement by the French utility EDF on delays to the project. “Hinkley Point C is not a government project and so any additional …

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FTSE 100 ends flat as insurers overshadow miners boost

By Sruthi Shankar and Shubham Batra (Reuters) -The UK’s FTSE 100 was little changed on Tuesday as gains in metal miners were offset by losses in non-life insurers, while investors assessed earnings updates and awaited economic data for more clarity on the Bank of England’s monetary easing plans. The blue-chip FTSE 100 index was flat, …

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Stellantis can become global leader in commercial vehicles by 2030-CEO

(Repeats for additional subscribers, no changes to text) Atessa, Italy (Reuters) – Stellantis aims to become leader in the commercial vehicle (LCV) market worldwide by 2030, by launching an “offensive” in North America and picking up opportunities in Asia, its chief executive said on Tuesday. “We need a few years, by the end of our …

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France’s Sanofi boosts rare disease business with about $2.2 billion Inhibrx deal

(Reuters) -French healthcare company Sanofi has agreed to buy U.S. biotech firm Inhibrx in a deal valued at up to $2.2 billion, bolstering its drug development portfolio with an experimental treatment for a rare genetic disease. The companies said the deal will give Sanofi access to Inhibrx’s INBRX-101, currently in the second of three phases …

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Ryanair sees scope to expand further in Italy

By Angelo Amante and Elisa Anzolin ROME/MILAN (Reuters) -Ryanair is looking to build on its market-leading position in Italy if more airport slots become available as a result of ITA Airways teaming up with Lufthansa, the budget airline’s CEO Michael O’Leary said on Tuesday. Lufthansa is seeking to acquire a 41% stake in state-owned ITA …

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Lufthansa’s ITA Airways deal could reduce competition, EU warns

By Foo Yun Chee BRUSSELS (Reuters) -Lufthansa’s bid for a minority stake in ITA Airways could reduce competition in flights to and from Italy, EU antitrust regulators warned on Tuesday, ramping up pressure on the German carrier to offer stronger remedies. Lufthansa wants to acquire a 41% stake in the state-owned Italian carrier for 325 …

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