(Reuters) -Australia's Macquarie on Friday forecast stronger short-term income from its commodities trading business, after the unit tapped volatile oil and gas prices to boost profit in the first half, sending its shares higher. Financial conglomerates such as Macquarie have benefited from sharp volatility and supply chain disruptions in commodities markets that began in 2020 and increased this year with Russia's invasion of Ukraine. The Sydney-based firm's Commodities and Global Markets (CGM) segment delivered a net profit contribution of about A$2 billion, 15% higher than last year, thanks to more clients hedging against volatile energy markets.
PARIS (Reuters) -French utility company Veolia confirmed it would sell Suez's UK waste business to Australia's Macquarie Group Ltd for around 2.4 billion euros ($2.4 billion), a deal aimed at resolving antitrust concerns. Earlier, Veolia said that it was proposing to sell off its former rival, Suez's UK waste business, after Britain's Competition and Markets Authority (CMA) raised objections to the Veolia/Suez combination. Veolia's shares rose around 3% in early trading, top performer on Paris' SBF-120 equity index.