Reuters UK Business Archives - Page 1878 of 3179

BayWa suspends 2024 profit forecast over ongoing restructuring

24 Jul 2024 24 Jul 2024

(Reuters) – German agricultural group BayWa suspended its full-year profit forecast on Wednesday, citing an ongoing restructuring, and posted preliminary revenue of 10.7 billion euros ($11.60 billion) for the first half of the year. The company said its preliminary earnings before interest, tax, depreciation and amortization stood at 149.5 million euros for the first half …

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UK plans to boost development aid when fiscal circumstances allow, minister says

24 Jul 2024 24 Jul 2024

By David Lawder RIO DE JANEIRO (Reuters) – Britain’s new Labour government aims to restore overseas development spending to 0.7% of economic output when “quite difficult” fiscal circumstances allow, development minister Anneliese Dodds said on Wednesday. Dodds told Reuters in an interview on the sidelines of a meeting of G20 finance leaders in Brazil that …

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Jeronimo Martins’ second-quarter profit falls 28% on lower margins

24 Jul 2024 24 Jul 2024

LISBON (Reuters) – Portuguese retailer Jeronimo Martins posted a larger-than-expected 28% drop in second-quarter net profit on Wednesday, as a decline in margins from food price deflation offset higher sales at Polish market leader Biedronka. The company said in a statement that its consolidated net profit fell to 156 million euros ($169 million) in the …

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European shares end lower as earnings whirlwind disappoints

24 Jul 2024 24 Jul 2024

By Pranav Kashyap, Shristi Achar A and Shashwat Chauhan (Reuters) – European shares closed lower on Wednesday, dampened by luxury stocks after dour results from LVMH weighed on the sector, while a raft of lacklustre corporate earnings in other parts of the market like banks also added to the downbeat mood. The pan-European STOXX 600 …

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Ferrari extends cryptocurrency payment system to Europe after US launch

24 Jul 2024 24 Jul 2024

MILAN (Reuters) – Ferrari said on Wednesday it would extend its scheme to accept payments in cryptocurrency for its luxury sports cars to its European dealers network from the end of this month, after starting in the United States last year. The Italian company will also extend the scheme by the end of 2024 to …

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Euro zone business growth stalls in July, PMIs show

24 Jul 2024 24 Jul 2024

By Jonathan Cable LONDON (Reuters) -Growth in euro zone business activity stalled this month as a tepid expansion in the bloc’s dominant services industry failed to offset a deeper downturn among manufacturers, a survey showed on Wednesday. HCOB’s preliminary composite Purchasing Managers’ Index, compiled by S&P Global, dropped to 50.1 this month from June’s 50.9, …

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Freight-forwarder DSV expects earnings boost from higher volumes, Red Sea

24 Jul 2024 24 Jul 2024

By Isabelle Yr Carlsson and Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Denmark’s DSV expects disruptions to Red Sea shipping to benefit earnings and the volume growth seen in the second quarter to continue in the coming months, it said on Wednesday, boosting its shares. The world’s third-largest freight forwarder said it had increased volumes, especially of electronics …

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LVMH shares drop after missing second-quarter estimates

24 Jul 2024 24 Jul 2024

By Mimosa Spencer and Dominique Patton PARIS (Reuters) -Shares in LVMH fell as much as 6.5% in early Wednesday trade and were on track for their biggest one-day drop since October 2023 after second-quarter sales growth at the French luxury goods giant missed analysts’ consensus estimate. The world’s biggest luxury group said late Tuesday its …

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Spain’s Iberdrola to bid for UK’s Electricity North West, chairman says

24 Jul 2024 24 Jul 2024

MADRID (Reuters) – Spanish utility Iberdrola is interested in British power network Electricity North West (ENWL) and plans to bid for it, Executive Chairman Ignacio Sanchez Galan told analysts and investors on Wednesday. “Of course, the company is interesting for us,” he said in a call held to discuss the company’s second quarter earnings. “I …

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Aston Martin’s Q2 profit beats market view on special model sales

24 Jul 2024 24 Jul 2024

(Reuters) -British luxury carmaker Aston Martin reported forecast-beating second-quarter profits on Wednesday, powered by stronger sales to dealers of some exclusive models, as it reiterated guidance for hefty profit growth later this year. Shares in Aston Martin, which have fallen about 30% so far this year, were up about 11% at 166.40 pence by 0822 …

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