European Press Roundup: Spain's Renfe Will Receive $6 Billion For U.S. Contract

In Europe today, shares in Air France-KLM fell on its coronavirus warning, while UBS said its Chief Executive Sergio Ermotti is stepping down. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

Spain's national railway company, Renfe, will receive $6 billion for its role in the construction and operation of a high-speed rail corridor between Houston and Dallas. In the initial design and construction phase, Renfe will make $311 million, with the remaining amount due from 2026. -Expansion

Shares of Eramet plunged more than 15% after the French mining and metallurgy group reported Wednesday evening a EUR184 million loss in 2019. Eramet also expects 2020 to be challenging. -Les Echos

French cables manufacturer Nexans reported a net loss of EUR118 million in 2019 compared with a profit of EUR13 million the previous year, blaming the hit on restructuring costs. However, the group posted earnings before interest, taxes, depreciation, and amortization of EUR413 million, in line with its targets, with revenue rising 4.5% to EUR6.7 billion. -Le Figaro

The Italian government could be ready to revoke the concession of Atlantia's motorway unit Autostrade after the Chamber of Deputies on Wednesday approved a decree reducing the amount the government has to pay to the operator in case the concession is revoked. -La Repubblica

Axminster Carpets, a 265-year-old U.K. company that supplied luxury carpets to the British royal family, Trump Hotels and the U.S. Congress among others, has entered into administration. Axminster, which was already bought out of administration in 2013, failed to secure a rescue deal, putting 80 jobs at risk. -The Guardian

University lecturers and staff at 74 U.K. universities are due to start a 14-day strike on Thursday which is expected to affect more than a million students. The University and College Union will hold strikes until March 31 over work conditions, pay and pensions, following eight days of industrial action in November and December. -BBC

Write to Barcelona editors at [e-mail]

(END) Dow Jones Newswires

February 20, 2020 07:41 ET (12:41 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.