WOLFSBURG, Germany (Reuters) -Unions on Wednesday raised the prospect of strikes at Volkswagen unless the automaker is prepared to rule out plant closures from its restructuring plan, as the two sides lock horns for a second time over pay and potential factory shut-downs. Thorsten Groeger, chief negotiator of the powerful IG Metall union, said workers …
Unions flag strike risk unless VW rules out plant closures Read More »
By Dagmarah Mackos (Reuters) – Belgium’s largest semiconductor supplier Melexis forecast fourth-quarter sales below expectations, prompting a slight cut in its full-year outlook as carmakers temporarily cut inventories, dragging its shares down to their lowest level in over four years. The automotive semiconductor sector has faced challenges from high inventories and weak industrial demand. But …
Belgium’s Melexis sees lower Q4 sales amid inventory cuts, shares tumble Read More »
MADRID (Reuters) – Spain’s Naturgy confirmed on Wednesday its profit targets for the year as it prepares an “ambitious” new strategy that will be presented in February. The company said it is on track to achieve its target of a net profit of more than 1.8 billion euros ($1.95 billion) this year, after posting profit …
Spain’s Naturgy confirms profit targets as prepares strategic update Read More »
(Reuters) -British luxury carmaker Aston Martin reported a smaller-than-expected third-quarter loss on Wednesday and reaffirmed its annual forecast, saying supply disruptions that had caused factory delays were being “proactively managed”. Shares in the company rose as much as 6% in early trade following the results, which come as European carmakers grapple with weak demand in …
Aston Martin posts smaller-than-expected quarterly loss Read More »
GDANSK (Reuters) – Commerzbank’s Polish unit is expected to post a third quarter net profit of 476 million zlotys ($118.7 million) due to lower costs of legal risk related to foreign currency loans and higher net interest income, a Reuters poll showed on Wednesday. The bank reported that legal risk costs associated with foreign currency …
Commerzbank’s mBank seen returning to profit in Q3: Reuters poll Read More »
COPENHAGEN (Reuters) -Denmark’s Orsted said on Wednesday it had agreed to sell a 12.45% minority stake in four of its operational British offshore wind farms to Brookfield in a transaction worth 1.75 billion pounds ($2.28 billion). “Today’s transaction is an important milestone in the farm-down programme as part of our business plan, supporting our significant …
Orsted sells stakes in four UK offshore wind farms to Brookfield Read More »
(Reuters) – Spain’s European Union-harmonised 12-month inflation rate rose to 1.8% in October from 1.7% in the period through September, preliminary data released by the National Statistics Institute (INE), showed on Wednesday. The 12-month EU-harmonised inflation was in line with the 1.8% expected by analysts polled by Reuters. Annual core inflation, which strips out volatile …
Spain’s EU-harmonised 12-month inflation rises to 1.8% in October Read More »
By Ludwig Burger and Patricia Weiss FRANKFURT (Reuters) -BASF on Wednesday predicted full-year earnings growth at the lower end of its target range on weaker demand for its chemicals and plastics, making it the latest German industrial heavyweight to come under pressure from the country’s weak economy. The chemicals maker said 2024 earnings before interest, …
BASF sees 2024 profit at lower end of range on weaker auto, agriculture demand Read More »
LONDON (Reuters) -Glencore on Wednesday reported lower copper, cobalt, zinc, nickel and thermal coal production for the first nine months, but reiterated that it expects its trading profit to reach the high-end of its long-term range at up to $3.5 billion. The miner and trader’s own sourced copper production fell 4% to 705,200 metric tons, …
Glencore posts lower metals output for first nine months, reiterates outlook Read More »
(Reuters) – British lender Virgin Money UK said on Wednesday that insider Gergely Zaborszky would take on the role of its CFO, after current finance boss Clifford Abrahams leaves the company in December. Abrahams will stay with the company until Dec. 15, and Zaborszky, who currently heads FP&A and Capital Management at Virgin Money, will …
Virgin Money UK picks insider Gergely Zaborszky as next CFO Read More »
