By Andy Bruce (Reuters) – Britain’s minimum wage for most adults will increase by 6.7% from April next year, a boost for low-paid workers but a concern for employers who are finding it harder to implement such rises. Finance minister Rachel Reeves announced the increase on the eve of delivering her first budget, which is …
UK raises minimum wage by 6.7% in boost for workers, despite employer unease Read More »
(Reuters) – Sweden’s SKF said on Tuesday it sold its Hanover, Pennsylvania ring and seal operation, via subsidiary PCTI, to Carco PRP for 2.3 billion Swedish crowns ($215.98 million) as part of its strategy to exit the non-core aerospace sector. SKF first revealed plans to explore fully or partially exiting its non-core business in October …
SKF divests non-core aerospace business in the US for about $216 million Read More »
(Reuters) -Austria’s Raiffeisen Bank International (RBI) has cut its return on equity (ROE) guidance for this year, excluding its Russian and Belarusian businesses, the lender said on Tuesday. It now expects a consolidated return on equity of around 7.5% in 2024, compared with the 10% forecast previously, as it booked 493 million euros ($533 million) …
Raiffeisen cuts return on equity guidance due to Polish mortgage loans provisions Read More »
By Nathan Vifflin (Reuters) -Chip-making equipment supplier ASM International (ASMI) forecast on Tuesday higher fourth-quarter guidance after third-quarter bookings beat expectations as AI continues to drive high-end orders and Chinese orders fall less than anticipated. Europe’s second-largest equipment supplier said demand for its AI-related manufacturing processes and memory was sustained in the third quarter, while …
ASMI ups guidance as AI, Chinese demand remain strong Read More »
By Corina Pons MADRID (Reuters) -Spanish fashion and perfumes company Puig reported an 11% rise in third-quarter sales on Tuesday, beating analysts’ expectations after sector rivals posted disappointing results due to lower demand in China. The Barcelona-based firm behind perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier said net sales for the three-months ending …
Spain’s Puig posts 11% rise in Q3 sales, beats expectations Read More »
By Max A. Cherney, Jeffrey Dastin, Dawn Chmielewski, Fanny Potkin and Stephen Nellis (Reuters) – Pat Gelsinger took the reins as Intel CEO three years ago with hopes of reviving the American industrial icon. He soon made a big mistake. Intel had a sweet deal going with Taiwan’s TSMC, the giant manufacturer of semiconductors for …
Special Report-Inside Intel, CEO Pat Gelsinger fumbled the revival of an American icon Read More »
By Ankika Biswas and Pranav Kashyap (Reuters) -Europe’s main stock index dropped on Tuesday, bruised by a handful of bleak quarterly results from industry majors such as energy giant BP, drugmaker Novartis and lender Santander, while caution also prevailed ahead of some crucial economic data. The pan-European STOXX 600 closed 0.6% lower, after touching an …
STOXX 600 falls on earnings drag, travel and leisure worst hit Read More »
By Nathan Gomes (Reuters) – Ford Motor shares fell as much as 10.4% on Tuesday after the automaker tempered its full-year profit forecast, blaming supplier disruptions and warranty costs amid a global price war fueled by overcapacity. It expects 2024 adjusted earnings before interest and taxes (EBIT) of about $10 billion, compared with its earlier …
Ford shares drop as supply snags and costs hurt profit forecast Read More »
By Doyinsola Oladipo NEW YORK (Reuters) – Major cruise operators are steering their ships – and millions of dollars in investments – into their own private destinations packed with excursions, beaches, bars and restaurants. The phenomenon appears to have started with Royal Caribbean Group, which in 2019 opened “Perfect Day at CocoCay,” an amusement park-like …
Cruise operators reap benefits of their own private islands Read More »
(Reuters) – Paris-based investment fund CIAM said on Tuesday it would appeal to France’s financial watchdog AMF to ensure shareholder rights are respected in Vivendi’s plan to split up, urging a public offer be launched for Vivendi shares. Vivendi’s proposal involves splitting the French media conglomerate into three separate entities — broadcasting group Canal+, advertising …
Vivendi minority shareholder to appeal against proposed split project Read More »
