2026-02-05 07:30

LONDON, Feb 5 (Reuters) - Jewellery brand Pandora is introducing platinum-plated products to distance itself from the volatile silver market after a historic surge in the price of the precious metal, the company's new CEO said on Thursday. Pandora's share price has been highly sensitive to sharp moves in silver, with a historic selloff in the precious metal at the end of last week driving a surge in the stock. Sign up here. "We have to decouple the performance of the company and the share value from the commodity," Berta de Pablos-Barbier told Reuters in an interview. "We are a jewellery brand, we are not a silver trader." Pandora is introducing platinum-plated versions of its best-selling bracelets, which will be less costly to produce. Eventually the brand plans to reduce its reliance on any one commodity and shift its jewellery portfolio from nearly 60% silver to "maybe 20% in the end", de Pablos-Barbier, in the role since January 1, said. She did not give a full time frame but said Pandora plans for at least 50% of the silver assortment to transition to platinum-plated in 2027. After hitting a record high of $121.64 last week, spot silver plummeted on news of Kevin Warsh's nomination as Federal Reserve chief, and was trading at $74.94 an ounce on Thursday. https://www.reuters.com/business/retail-consumer/pandora-aims-break-with-volatile-silver-market-ceo-says-2026-02-05/

2026-02-05 07:11

Takaichi mindful of need for fiscal discipline, Nagahama says Too-loose fiscal policy could trigger rapid BOJ rate hikes Government must communicate with markets, BOJ to avoid bond rout Remarks highlight administration's sensitivity to yield moves TOKYO, Feb 5 (Reuters) - Japan must avoid ramping up fiscal spending in a way that fuels inflation and forces the central bank to raise interest rates rapidly, Toshihiro Nagahama, a government panel member known as an economic aide to premier Sanae Takaichi, said on Thursday. The remark reflects the government's sensitivity to the risk of a renewed bond selloff, after Takaichi's pledge to suspend by two years a levy on food sales sent super-long Japanese government bond (JGB) yields to record highs last month. Sign up here. Nagahama defended the administration's spending plans, saying the focus was on promoting investment in key areas such as artificial intelligence (AI) aimed at boosting Japan's growth potential and helping lower its debt-to-GDP ratio. "The Takaichi administration is pursuing proactive fiscal policy accompanied by fiscal discipline, and won't do anything reckless that would destroy markets," said Nagahama, known to be one of the reflationist aides of the dovish premier. Smooth communication with markets and the Bank of Japan is also crucial to avoid triggering a yen slide or sharp rises in long-term interest rates, he said in a research note. "If fiscal policy is too expansionary, that would accelerate inflation and force the BOJ to raise interest rates rapidly," Nagahama said. "It's therefore necessary to manage fiscal policy in a way that is neither too loose nor too tight, so that the BOJ can raise rates at a moderate pace and keep any shock to the economy at a minimum." The government must also enhance transparency over its debt issuance plan, and prioritise dialogue with major buyers of JGBs such as megabanks and domestic life insurers, to avoid causing a bond selloff, Nagahama added. Growing prospects that Takaichi's party will score a landslide victory in the election on Sunday, and secure a mandate for her expansionary fiscal policy, have kept bond investors on edge amid concern over Japan's worsening finances. Some bond investors also warn the BOJ is behind the curve in dealing with the risk of too-high inflation. The central bank raised its short-term policy rate to 0.75% in December and has signalled its readiness to keep pushing up borrowing costs. But real borrowing costs remain deeply negative with inflation exceeding the BOJ's 2% target for nearly four years. Nagahama, who is chief economist at Dai-ichi Life Research Institute, now serves as a private-sector member of a key economic council that sets Japan's long-term fiscal blueprint. Along with former BOJ Deputy Governor Masazumi Wakatabe who is also a member of the council, Nagahama is known to be among advocates of former Prime Minister Shinzo Abe's "Abenomics" stimulus, and in the past proposed that Takaichi deploy a huge spending package to prop up growth. https://www.reuters.com/world/asia-pacific/japan-pm-takaichis-reflationist-aide-calls-fiscal-discipline-2026-02-05/

2026-02-05 07:09

Analysts had expected Q4 profit of $3.5 bln Oil, gas prices, oil trading weighed on results Quarterly buyback programme continues at $3.5 bln LONDON, Feb 5 (Reuters) - Shell's Profits at its integrated gas and marketing divisions were below expectations, while a loss at its chemicals and products unit, where Shell had flagged weak oil trading would hit its bottom line, was larger than foreseen by analysts. Sign up here. The average analyst estimate in a company-provided poll for adjusted earnings, Shell's definition of net profit, was $3.5 billion. Shell, the world's largest liquefied natural gas trader, reported fourth-quarter cash flow from operations of $9.44 billion, above expectations for $7.87 billion. That compares with $13.16 billion in the same quarter a year earlier. Brent futures averaged around $63 per barrel in the quarter, down from about $74 a year earlier, according to LSEG data and Reuters calculations. The benchmark Dutch front-month gas contract at the TTF hub averaged about 30 euros per megawatt-hour in the quarter, down from around 43.3 euros a year earlier. https://www.reuters.com/business/energy/shells-fourth-quarter-profit-misses-expectations-33-billion-2026-02-05/

2026-02-05 07:07

BERLIN, Feb 5 (Reuters) - Berlin's airport said on Thursday morning that all takeoffs are currently cancelled due to weather conditions as Germany's capital region was hit by fresh snow and freezing rain. On its website, the airport advised passengers to check their flight status with their airlines. Sign up here. https://www.reuters.com/business/environment/no-takeoffs-berlin-airport-due-weather-conditions-2026-02-05/

2026-02-05 06:53

BRUSSELS, Feb 5 (Reuters) - The Belgian government has resumed talks with French utility Engie (ENGIE.PA) , opens new tab over potential further extensions of the country's nuclear reactors, Belgian newspaper L’Echo reported on Thursday. After an initial meeting with Prime Minister Bart De Wever, another meeting is planned between Engie and Energy Minister Mathieu Bihet, according to the newspaper. Sign up here. Engie and the Belgian government did not immediately reply to requests for comment. The government is exploring whether Doel 4 and Tihange 3, already set to operate 10 years longer under a previous deal, could be extended for up to 20 years, and whether other reactors could also remain online. Tihange is a 1,038 megawatt (MW) reactor in eastern Belgium, while Doel is a 1,039 MW reactor near the port city of Antwerp. The reactors, which entered service in 1985, make up 35% of the country's nuclear energy capacity. https://www.reuters.com/business/energy/belgium-resumes-talks-with-engie-further-nuclear-reactor-extensions-lecho-2026-02-05/

2026-02-05 06:41

TOKYO, Feb 5 (Reuters) - Nippon Steel (5401.T) , opens new tab on Thursday widened its net loss forecast for the financial year ending in March to 70 billion yen ($446.12 million) due in part to a fire at a blast furnace, after it swung to a loss in the nine months to December. Japan's biggest steelmaker previously expected a loss of 60 billion yen on charges related to a $15 billion deal to buy U.S. Steel (X.MX) , opens new tab that closed in June and after exiting steel assets in Brazil. Sign up here. The full-year performance will also be dragged down by steel exports from China, sluggish demand, a recent rise in raw material prices and as Nippon Steel takes a charge following a fire at its steel facility in Muroran in Hokkaido, the company said. The Muroran blast furnace, shut down in December and due back in operation by the end of March, is expected to hit Nippon Steel's earnings by 40 billion yen, Nippon Steel Chief Financial Officer Takahiko Iwai told a results briefing. For the nine months through December, it posted a 45 billion yen net loss versus a profit of 362.1 billion yen a year earlier. Reuters reported on Thursday, citing sources, that Nippon Steel was considering selling as much as 500 billion yen of convertible bonds, as it needs capital to expand its overseas business including in the U.S. and India and for decarbonisation initiatives. The company also needs long-term funding to replace a bridge loan it took out for its acquisition of U.S. Steel last year that totalled around 2 trillion yen, the sources said. Nippon Steel will proceed with optimal funding options as the bridge loan is expiring in June, Iwai said, adding that nothing was decided regarding the funding. ($1 = 156.9100 yen) https://www.reuters.com/world/asia-pacific/nippon-steel-widens-full-year-net-loss-forecast-70-billion-yen-2026-02-05/