By John Revill ZURICH (Reuters) -Swiss industrial group ABB on Thursday announced plans to spin off its robotics division in the biggest shake up at the company since it sold its power grids business to Japan’s Hitachi in 2018. The business is the world’s second-biggest industrial robot maker after Japan’s FANUC Corp and competes with …
ABB to spin off world’s second biggest robotics business Read More »
LONDON (Reuters) – The British government should move at pace to end a duty exemption which allows shipments worth up to 135 pounds ($179) to be imported from overseas without incurring customs duty, the boss of supermarket Sainsbury’s said on Thursday. Britain’s retail industry has expressed concern about the risk of lower quality goods being …
Sainsbury’s urges UK government to close ‘de minimis’ duty loophole Read More »
PARIS (Reuters) – Jonathan Anderson will create the June collection for Dior Men’s Fashion, LVMH CEO Bernard Arnault said on Thursday at the group’s annual meeting with shareholders. Anderson, 40, whose departure from LVMH’s smaller label Loewe was announced on March 17, is one of a new generation of high-profile designers taking over some of …
Jonathan Anderson will create June collection for Dior Men’s Fashion, LVMH CEO says Read More »
By Yadarisa Shabong (Reuters) – The pound gained against the euro on Thursday and held steady against the U.S. dollar after economic data over the last week eased concerns about the British economy against the backdrop of U.S. tariffs. Concerns about the impact of U.S. tariffs on growth and inflation have driven investors away from …
Sterling steadies against dollar ahead of long Easter weekend Read More »
By Mimosa Spencer and Tassilo Hummel PARIS (Reuters) – France’s Hermes will fully shift the burden of tariffs in the United States to its wealthy clientele, the company said on Thursday, as it posted first-quarter sales that slightly missed market expectations in a rare show of weakness. Hermes’s first-quarter sales were dragged down by a continued …
Luxury brand Hermes to pass on tariff costs to US clients as sales growth slows Read More »
By Emma Rumney LONDON (Reuters) -Pernod Ricard reported a 3% decline in third-quarter sales on Thursday, missing forecasts as tariff uncertainty in major markets the United States and China rocks the already-struggling spirits sector. Analysts had expected Pernod, the world’s No. 2 Western spirits maker, which produces Jameson Irish whiskey and Mumm champagne, to report …
Pernod’s sales miss forecasts as tariffs weigh on spirits sector Read More »
By Anandita Mehrotra (Reuters) -Britain’s Rentokil Initial on Thursday said its organic revenue rose nearly 2% in the first quarter, helped by broad strength in its international pest control business that helped offset sluggishness in North America, its largest market. The century old company, which provides pest control and hygiene services, said that it remains …
UK pest control firm Rentokil’s foreign sales offset weak North America Read More »
(Reuters) – UK’s Wood Group on Thursday said it has extended the deadline for a takeover offer by Dubai-based Sidara to May 15 from April 17. On Monday, the company received a proposal from Sidara comprising a takeover bid worth about 242 million pounds ($320.5 million) and up to $450 million in cash. Wood Group …
UK’s Wood Group extends deadline for Sidara’s takeover offer Read More »
By James Davey LONDON (Reuters) -Sainsbury’s, Britain’s second largest food retailer after Tesco, forecast flat profit this year as it pledged to sustain its competitive edge if a price war emerges. Last month, Asda, the number three player, flagged the start of a potential price war, saying it would take a hit to profits to …
UK’s Sainsbury’s expects flat profit as threat of price war looms Read More »
PARIS (Reuters) – The year started well but worsened from March due to economic turmoil linked to tariffs, the head of French luxury group LVMH said on Thursday. Bernard Arnault also told the annual shareholders meeting that LVMH will focus on growth at the highest ends of its product range as less wealthy aspirational buyers …
LVMH CEO: 2025 started well but worsened from March due to economic turmoil Read More »
