PARIS (Reuters) -Shares in French group Kering fell on Wednesday to their lowest since March 2020, dragging down other luxury stocks, after the company reported weaker than expected sales for the third quarter at all of its fashion labels. Kering, whose shares have already lagged behind rivals such as LVMH and Hermes this year as …
Kering shares fall 4% after sales drop, dragging down luxury sector Read More »
(Reuters) -Shares in Worldline shed more than half of their value on Wednesday after the French payment company cut its full-year targets as the economic slowdown hurt its business in key markets including Germany. The group also said it had severed ties with some of its merchants to reduce risks “in light of an increase …
Shares in French payment company Worldline sink by 50% as it cuts targets Read More »
By Stephanie Hamel (Reuters) -Dutch paints and coatings maker Akzo Nobel has set out a plan to save costs and improve supply chain efficiency, after forecasting yearly core earnings towards the lower end of its previous forecast due to lower than expected volumes. Shares in the maker of Dulux and Flexa paints were down 4% …
Dulux owner Akzo sees core earnings towards low end of forecasts Read More »
MADRID (Reuters) – Spain has collected 2.9 billion euros ($3.07 billion) this year with the windfall taxes imposed on power companies and banks, acting Budget Minister Maria Jesus Montero said on Wednesday. “We have always said that it is reasonable for those who have more to contribute more. It means contributing to the common good,” …
Spain collects 2.9 billion euros with windfall taxes this year -budget minister Read More »
By Marta Frackowiak STOCKHOLM (Reuters) -Swedish steelmaker SSAB announced a 2.5 billion crown ($224 million) share buyback program on Wednesday as it posted a smaller than expected drop in third-quarter operating profit, sending its stock price up 6% in early trade. A seasonal slowdown in European steel markets was more pronounced than usual in the …
Steelmaker SSAB launches $224 million share buyback after earnings beat Read More »
(Reuters) -French software maker Dassault Systemes on Wednesday hiked its 2023 profit outlook after a surge in subscription sales in the third quarter, sending its shares up 6%. Total revenue increased by 11% in constant currency terms to 1.42 billion euros ($1.51 bln), at the top end of its quarterly forecast of 1.40-1.42 billion euros. …
Dassault Systemes hikes profit target as subscriptions surge Read More »
By Maria Martinez BERLIN (Reuters) -German business morale improved more than expected in October, following five consecutive months of decline, a survey showed on Wednesday, but economists still fear a recession. The Ifo institute said its business climate index stood at 86.9 versus the 85.9 reading forecast by analysts in a Reuters poll, following a …
German business sentiment improves but recession fears remain Read More »
By Richa Naidu LONDON (Reuters) – Reckitt, maker of Dettol and Lysol cleaning products, on Wednesday missed third-quarter like-for-like sales expectations as volumes declined, but said it would start a 1 billion pound ($1.2 billion) share buyback programme “imminently”. Its shares were down 2.3% in early trade, among the worst performers on London’s blue-chip FTSE …
Reckitt sweetens drop in sales volumes with $1.2 billion buyback Read More »
AMSTERDAM (Reuters) – U.S. carrier JetBlue Airways said on Tuesday it had asked the U.S. Department of Transportation to ban Air France’s KLM from New York’s John F. Kennedy International Airport, if planned Schiphol Airport curbs take place, saying they violate the U.S.-EU Air Transport Agreement. The Dutch government last month said it would move …
JetBlue asks US to ban KLM from JFK if planned Schiphol curbs take place Read More »
By Mimosa Spencer PARIS (Reuters) – French luxury group Kering reported a bigger-than-expected drop in third quarter sales, underperforming major rivals as its top brand Gucci and other fashion labels all suffered from a slowing appetite for high-end clothes and accessories. The French luxury group, which also owns Yves Saint Laurent, Balenciaga and Bottega Veneta, …
Kering sales down 9% as luxury slowdown stalls revamp Read More »
