Reuters UK Business

By Mimosa Spencer PARIS (Reuters) -Sales at Hermes rose briskly in the third quarter, beating expectations and outshining rivals as economic headwinds did not stop its wealthy clientele from splurging on high-end Birkin handbags. “Despite an uncertain context, our outlook remains unchanged,” said Eric du Halgouet, Hermes’ executive vice president finance. Hermes shares traded up …

Hermes sales beat expectations, defying luxury sector gloom Read More »

By Amruta Khandekar (Reuters) -European shares reversed early gains on Tuesday as a drop in shares of banks and downbeat economic data from the region outweighed support from robust earnings from companies such as luxury giant Hermes. The pan-European STOXX 600 index was down 0.3% by 0835 GMT. Barclays dropped 6.8% after the British lender …

European shares slip as banks drag, business activity falters Read More »

By Olivier Sorgho (Reuters) -Randstad, the world’s biggest staffing firm, on Tuesday joined peers in the recruitment sector in flagging a soft jobs market, even as it said cost cuts helped it beat profit expectations in the third quarter. Recruitment firms – whose performance reflects the health of the labour market and consequently the economy …

Recruiter Randstad says companies still hesitant to hire Read More »

FRANKFURT (Reuters) – Euro zone banks further curbed access to credit in the third quarter even as demand from households and companies fell more than expected amid high borrowing costs and a deteriorating economic outlook, a European Central Bank survey showed on Tuesday. The ECB’s quarterly Bank Lending Survey showed the bank’s steady diet of …

Euro zone lenders and borrowers shun credit as rates climb – ECB Read More »

By Gwladys Fouche OSLO (Reuters) -Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, posted a 374 billion crown ($33.80 billion) loss in the third quarter, it said on Tuesday, as higher interest rates and economic weakness sparked declines in all asset classes. The fund’s return on investment was minus 2.1% for the July-September period, …

Norway’s wealth fund posts $34 billion loss in Q3 Read More »

RAVENNA, Italy (Reuters) – A project by Italian gas grid Snam and energy group Eni to capture carbon dioxide and store it in depleted gas fields can help decarbonise businesses both in Italy and in southern European industries, Snam CEO Stefano Venier said. Speaking in the Italian city of Ravenna where the new carbon capture …

Snam, Eni’s carbon capture hub can serve also southern Europe Read More »

MILAN (Reuters) – Juventus has started talks with banks to form a syndicate for its planned cash call of up to 200 million euros ($213 million), the Italian soccer team said on Monday, after its board approved the capital increase. “The company is considering the opportunity to engage a syndicate for the subscription of any …

Juventus starts talks with banks over planned 200 million euro cash call Read More »

GDANSK (Reuters) – The Polish arm of telecoms firm Orange on Monday maintained its full-year guidance for revenue and core earnings after reporting a slightly better-than-expected 23% rise in third-quarter net profit to 237 million zlotys ($56.43 million). Third-quarter revenue fell 3% to 3.12 billion zlotys, while earnings before interest, tax, depreciation and amortisation after …

Orange’s Polish unit maintains guidance as it delivers Q3 profit Read More »