LONDON (Reuters) – Pernod Ricard has completed the sale of its international wine portfolio, including brands like Jacob’s Creek, to Accolade Wines owner Australian Wine Holdco, it said on Wednesday. The transaction will result in the creation of a new global wine company called Vinarchy, it said. It did not disclose a price for the …
Pernod completes sale of wine portfolio to Accolade Wines owner Read More »
MILAN (Reuters) -Eyewear maker EssilorLuxottica, whose brands include Ray-Ban, could move part of its production to the United States as a result of U.S. tariffs, its chief executive said on Wednesday. “We won’t rush a decision,” CEO Francesco Milleri told a shareholders’ meeting of the Franco-Italian company in Paris, adding that in three or four …
EssilorLuxottica to consider moving part of its production to US Read More »
By Nick Carey LONDON (Reuters) -Unable to predict the impact of U.S. President Donald Trump’s ever-changing trade war, Stellantis and Mercedes-Benz became the latest automakers on Wednesday to scrap their profit guidance citing market uncertainty wrought by tariffs. Volkswagen issued guidance at the bottom end of its forecast, but UBS analyst Patrick Hummel wrote in …
Trump tariff whiplash pushes more automakers to scrap profit guidance Read More »
By Anuja Bharat Mistry (Reuters) -Norwegian Cruise Line Holdings missed estimates for first-quarter revenue and profit on Wednesday and warned of weak consumer spending on premium voyages due to growing concerns over a possible recession, sending its shares down 9%. The cruise operator said it was expecting annual net yield – profit made per passenger …
Norwegian Cruise Line’s quarterly results disappoint, warns of weak consumer spending Read More »
By Jody Godoy (Reuters) -Google hopes to enter an agreement with Apple by the middle of this year to include its Gemini AI technology on new phones, CEO Sundar Pichai said in testimony at an antitrust trial in Washington on Wednesday. Pichai testified in the Alphabet unit’s defense against proposals by the U.S. Department of …
Google hopes to reach Gemini deal with Apple this year Read More »
OSLO (Reuters) -Hybrid-electric airplane maker Heart Aerospace will relocate its headquarters and operations to Los Angeles from Sweden’s Gothenburg, in a bid to boost its product development in the United States, the company said in a statement on Wednesday. Heart Aerospace is developing a regional electric aircraft capable of carrying 30 passengers, targeting a niche …
Electric plane maker Heart Aerospace moves to US in blow to Sweden Read More »
By America Hernandez PARIS – Europe’s willingness to buy more liquefied natural gas (LNG) from the U.S. to plug a trade gap will boost business for TotalEnergies , said CEO Patrick Pouyanne on Wednesday, after the company posted first quarter earnings down across all business segments except its LNG unit. The French oil major is …
TotalEnergies CEO seeks to reassure investors after smaller profit, higher debt Read More »
By Sinead Cruise and Tommy Reggiori Wilkes LONDON (Reuters) -Big European lenders are retaining ambitious performance targets after bumper first-quarter profits this week, but beyond the upbeat headline numbers, bank bosses are contemplating a welter of threats to their future earnings prospects. A global trade war unleashed by U.S. tariffs, the highest in a century, …
Europe’s major banks signal caution as ominous outlook tempers profit wins Read More »
By James Davey and Paul Sandle LONDON (Reuters) -Britain’s Co-op Group said on Wednesday hackers had attempted to break into its systems, the second high-profile cyber attack on a major UK retailer in as many weeks, following an ongoing incident at Marks & Spencer. The Co-op, which is owned by its members and trades from …
Co-op is latest British retailer to be hit by cyber attack Read More »
By Elisa Anzolin MILAN (Reuters) -Net revenues at Italian luxury group Prada rose 12.5% at constant exchange rates in the first quarter, thanks to a 60% jump in retail sales at its smaller brand Miu Miu, defying a slowdown in luxury goods demand. The group, which this month struck a $1.38 billion deal to buy …
