LONDON (Reuters) -British news group Reach plans to cut 450 full-time jobs, or 10% of the Daily Mirror parent company’s workforce, next year in a new round of cost-cutting to tackle inflation. Reach, which counts national titles as well as regional papers and websites such as the Manchester Evening News and the Liverpool Echo in …
UK’s Daily Mirror owner Reach plans 450 job cuts Read More »
By Federica Mileo and Diana Mandia (Reuters) – Supermarket group Ahold Delhaize on Wednesday trimmed 2023 earnings guidance and flagged margin weakness in the United States, its main market, sending its shares falling nearly 6%. Retailers, whose profits have been boosted over the past two years by rising prices, are seeing their margins squeezed as …
Ahold Delhaize trims profit target amid US margin weakness Read More »
By Pietro Lombardi and Andres Gonzalez MADRID/LONDON (Reuters) – Inditex founder Amancio Ortega’s investment firm Pontegadea is pushing further into renewable energy, closing in on a deal with Repsol to buy a 49% stake in its wind farms and photovoltaic power plants in Spain, two sources familiar with the deal told Reuters. The Spanish fashion …
Zara founder Ortega raises bet on renewables with potential Repsol deal – sources Read More »
By Helen Reid LONDON (Reuters) -Adidas struck an optimistic note on Wednesday as it reported a drop in inventory levels, saying retailers are “visibly” more interested in its autumn/winter 2024 range as the German sportswear giant seeks to boost its brand’s appeal. CEO Bjorn Gulden, in the job since Jan. 1, has been driving a …
Adidas sees Samba shoes driving more interest from retailers Read More »
(Reuters) -British homebuilder Persimmon said on Wednesday that Andrew Duxbury has been appointed as its next chief financial officer, with his starting date to be confirmed in due course. Duxbury will join from construction firm Galliford Try where he has worked as group finance director since March 2019. “Andrew has extensive experience as a finance …
UK homebuilder Persimmon names Andrew Duxbury as CFO Read More »
(Reuters) – Bertelsmann on Wednesday reported higher nine-month revenue as income from its publishing, music, services, and education businesses offset weak TV ad sales at its biggest unit broadcaster RTL. For the year through September, revenue stood at 14.6 billion euros ($15.59 billion), up from the previous year’s figure of 14.4 billion, the German media, …
Bertelsmann’s 9M revenue rises despite weak TV ad market Read More »
By Krystal Hu (Reuters) – Amazon is investing millions in training an ambitious large language model (LLMs), hoping it could rival top models from OpenAI and Alphabet, two people familiar with the matter told Reuters. The model, codenamed as “Olympus”, has 2 trillion parameters, the people said, which could make it one of the largest …
Amazon dedicates team to train ambitious AI model codenamed ‘Olympus’ -sources Read More »
By Steven Scheer and Marc Jones JERUSALEM (Reuters) -A month on from the Oct. 7 attack by Hamas gunmen that killed 1,400 Israelis, investors are gradually returning to country’s financial markets, warily accepting the descent into its worst security crisis in decades. Although a significant weakening of the dollar over the last week has helped, …
Israel’s war-wary markets start to attract investors back Read More »
LONDON (Reuters) – Britain’s antitrust regulator will gain legal powers to tailor rules for big tech companies, such as Meta, Alphabet and Amazon, to ensure they treat businesses and consumers fairly, according to the King’s Speech setting out the government’s priorities. The Competition and Markets Authority (CMA) set up a dedicated Digital Markets Unit more …
UK antitrust regulator to take on Big Tech with new legal power Read More »
LONDON (Reuters) -The Bank of England said on Tuesday it was considering a set of “fundamental rules” for securities and derivatives clearing and settlement houses as it revamps UK regulation post-Brexit. A new UK law approved earlier this year has given the BoE powers to write rules for clearing and settlement houses, which ensure a …
Bank of England considers ‘fundamental rules’ for clearing houses Read More »
