LONDON (Reuters) – Tesco, Britain’s biggest retailer, said on Tuesday it would raise store workers’ hourly pay by 9.1%, in a move that reflects the increase in the government-mandated minimum wage. The supermarket group, one of the country’s largest private sector employers , said a deal struck with shopworkers’ union USDAW means hourly base pay …
AMSTERDAM (Reuters) -The European Union should think twice before imposing additional export controls or rules on foreign investment, semiconductor industry group SEMI Europe said in a position paper published this week. The warning comes after the European Commission in January presented a package of plans aimed at improving “economic security” and preventing unwanted technology transfers …
Computer chip group SEMI to EU: new export controls should be ‘last resort’ Read More »
LONDON (Reuters) – Link Fund Solutions Limited (LFSL) said its redress scheme for around 300,000 investors trapped by the 2019 collapse of a fund run by once-renowned stock picker Neil Woodford, is now formally up and running, with payments to start early next month. The redress scheme was approved by a court last month to …
Link says redress scheme for Woodford investors to begin payments in April Read More »
By Amir Orusov and Anastasiia Kozlova (Reuters) -Swiss security group Dormakaba confirmed its full-year outlook on Tuesday after coming in slightly below first-half net sales forecasts hurt by currency effects. It posted group net sales of 1.38 billion Swiss francs ($1.56 billion) for the half-year ended December 31, up 3.9% organically but below the 1.41 …
Dormakaba reports slight first-half net sales miss, confirms outlook Read More »
BARCELONA (Reuters) – Cellnex on Tuesday said it expects revenues of up to 4.7 billion euros ($5.1 billion) and adjusted core earnings of up to 4 billion euros in 2027, as it unveiled its new outlook amid a shift in strategy to focus on cutting debt. In 2023, Europe’s largest mobile phone tower operator’s revenues, …
Cellnex expects core earnings of up to 4 billion euros in 2027 Read More »
By Ludwig Burger FRANKFURT (Reuters) -Bayer said on Tuesday it will hold off on plans to break up the diversified group to focus instead on improving the operating performance, resolving litigation and paying off debt. “Our answer is ‘not now’ – and this shouldn’t be misunderstood as ‘never’,” CEO Bill Anderson said in a statement. …
Bayer calls off break-up to tackle challenges for up to 3 years Read More »
By Louis van Boxel-Woolf and Chiara Holzhaeuser (Reuters) – German automotive and industrial supplier Schaeffler AG reported 2023 full-year adjusted core profit (EBIT) of 1.19 billion ($1.29 billion) on Tuesday, weighed down by weak demand in China for the group’s Industrial division. The profit result missed a consensus of 1.24 billion euros for the year …
Germany’s Schaeffler misses expectations for 2023 core profit Read More »
By Sarah Young LONDON (Reuters) – British food-to-go retailer Greggs said it expected 2024 to be another year of growth after it posted a 13% rise in profit last year, helped by strong demand for breakfasts, evening opening hours and expanding in food delivery. The Newcastle upon Tyne-headquartered company, which is famous for its sausage …
UK’s Greggs says evening openings, delivery to drive growth Read More »
By Simon Jessop, Isla Binnie and Tommy Wilkes LONDON/NEW YORK (Reuters) – A United Nations-backed alliance of banks is proposing its members disclose more information on their commitments to tackle climate change without requiring them to coordinate action, in a compromise it hopes will prevent departures, according to people familiar with the matter. The Net-Zero …
Exclusive-UN-backed bank group seeks to avoid departures with new climate guidelines Read More »
LONDON (Reuters) – Business activity in the euro zone showed signs of recovery last month as the bloc’s dominant services industry expanded for the first time since July, offsetting a deeper contraction in manufacturing, a survey showed. HCOB’s composite Purchasing Managers’ Index (PMI) for the bloc, compiled by S&P Global and seen as a good …
Euro zone business activity moves closer to recovery, PMI survey shows Read More »
