Reuters UK Business

(Reuters) -French tyre maker Michelin reported on Wednesday a 4.6% decrease in sales, slightly below expectations, citing a decline in volumes mainly in its truck and speciality tyres division due to weaker demand. The company, however, confirmed its 2024 guidance of segment operating income of 3.5 billion euros. Sales came in at 6.64 billion euros …

Michelin’s first-quarter sales fall on weak volumes Read More »

By Dominique Vidalon and Helen Reid PARIS (Reuters) -Supermarket giant Carrefour is spending more on price cuts as it tries to win back market share, the company said on Wednesday as it announced a slight dip in sales in its core market of France. Supermarkets across Europe have been under strain as inflation drives consumers …

Carrefour ramps up price cuts to boost French sales Read More »

By Miranda Murray and Maria Martinez BERLIN (Reuters) -German business morale improved more than expected in April, a survey showed on Wednesday, boosting hopes that the worst may be over for Europe’s biggest economy although any recovery is not expected to be strong. The Ifo institute said its business climate index rose to 89.4 compared …

German business sentiment rises more than expected in April, Ifo finds Read More »

By Olivier Sorgho (Reuters) -Supermarket group Casino said on Wednesday it would cut up to 3,267 jobs to tackle its financial problems, while refocusing its business with the aim of becoming France’s leading convenience stores retailer. Casino last month announced a new leadership team formed around Czech billionaire Daniel Kretinsky, with former Metro and Lactalis …

French supermarket chain Casino to axe jobs in overhaul Read More »

By Richa Naidu and Agata Rybska LONDON (Reuters) -Consumer goods group Reckitt’s like-for-like sales growth beat estimates in the first quarter as more people bought its Lysol, Dettol and Finish cleaning products even as prices rose, it said in a trading update on Wednesday. Shares in Reckitt were up nearly 6% in morning trade. The …

Reckitt beats like-for-like sales estimates, driven by Dettol, Lysol Read More »

MOSCOW (Reuters) -Hugo Boss has agreed to sell its Russian business to wholesale partner Stockmann, the German fashion house said on Wednesday, a deal that will end its presence in Russia a little over two years after suspending operations there. Hugo Boss, along with many store groups, suspended its retail business in Russia soon after …

Hugo Boss agrees to sell Russian business to wholesale partner Stockmann Read More »

By Johann M Cherian (Reuters) -European shares rose on Wednesday as the technology sub-index got a boost after ASM International’s strong forecast, although gains were limited by a drop in banking stocks following a disappointing earnings report from Swedish lender Handelsbanken. The pan-continent STOXX 600 index edged 0.2% higher by 0845 GMT, hovering levels seen …

STOXX 600 edges higher on technology boost; banking stocks cap gains Read More »

MOSCOW (Reuters) – A Russian court has ordered the seizure of funds in JPMorgan Chase bank accounts in Russia, court filings showed on Wednesday, in a lawsuit filed by state-owned bank VTB as it seeks to regain funds blocked abroad. JP Morgan Chase last week sued VTB in New York to halt its efforts to …

Russian court orders seizure of JPMorgan Chase funds in VTB lawsuit Read More »

BASEL, Switzerland (Reuters) -UBS executives on Wednesday told shareholders that the bank has major concerns about the Swiss government’s recently announced plan to hit the country’s largest lender with tougher capital requirements. “We are seriously concerned about some of the discussions related to additional capital requirements,” UBS Chairman Colm Kelleher said at the bank’s annual …

UBS flags serious concern about new Swiss capital requirements Read More »