RWE AG (RWEG.DE)
24 Feb 2017
* Scraps dividend for ordinary shares for second straight year
(The following statement was released by the rating agency) FRANKFURT/LONDON, February 22 (Fitch) Fitch Ratings has downgraded The Co-operative Bank p.l.c.'s (Co-op Bank) mortgage covered bonds to 'A' from 'A+' and placed the rating on Rating Watch Evolving (RWE). The rating action follows the downgrade of Co-op Banks's Long-Term Issuer Default Rating (IDR) to 'B-' from 'B' and the rating being placed on RWE (see "Fitch Downgrades The Co-operative Bank p.l.c.'s IDR to 'B-' on RWE; Downgrades
FRANKFURT, Feb 22 RWE said its 2016 earnings were hit by a 4.3 billion euro ($4.52 billion) writedown, mostly on its ailing German power plants that have come under intense pressure from low wholesale power prices and rivalling renewable energy.
BERLIN Innogy , Germany's largest energy group, sees no reason to scrap plans to enter the U.S. onshore wind market, its chief executive said, unimpressed by worries over future support of renewables in the wake of Donald Trump's presidency.
FRANKFURT Leading German energy group Innogy is combining its activities relating to electric vehicles into a new unit, seeking to benefit from renewed efforts by global carmakers to increase sales.
FRANKFURT Germany's Constitutional Court ruled on Tuesday that the government's decision to accelerate the shutdown of nuclear plants violated some property rights, paving the way for damage claims by utilities and sending their shares higher.
AMSTERDAM The days of the European conglomerate may be numbered, as activist shareholders are pressing diversified groups to spin off secondary businesses and focus on doing one thing well.
AMSTERDAM Corporate demergers range from the classic spin-off, in which existing shareholders are given shares in a business division which then trades as a separate company, to the carve-out, in which the division is sold to new investors via an initial public offering (IPO) - benefiting shareholders of the parent only indirectly.
MILAN, Nov 15 European shares edged up on Tuesday helped by a surge in crude oil prices and a rebound in utilities, while telecoms equipment maker Nokia slumped on a disappointing earnings outlook update.
MILAN, Nov 15 European shares steadied on Tuesday as a rebound in utilities and crude prices was offset by sharp falls among mining stocks, while telecoms equipment maker Nokia slumped after a disappointing earnings outlook update.