BERLIN (Reuters) -German unemployment fell unexpectedly in July, showing resilience in the labour market despite difficult economic conditions, but the first cracks are appearing. The Federal Labour Office said on Tuesday that the number of people out of work decreased by 4,000 in seasonally adjusted terms to 2.604 million. Analysts polled by Reuters had expected …
By Bartosz Dabrowski, Andrey Sychev and Patricia Weiss (Reuters) -German chemicals maker Covestro sees no improvement in demand this year and now forecasts annual core profit to be at the lower end of its range as customers continue to de-stock in an environment of high inflation. Like the rest of the German chemicals sector, the …
Covestro expects muted demand this year as de-stocking continues Read More »
By Radhika Anilkumar (Reuters) -Britain’s Domino’s Pizza Group said on Tuesday it does not expect to raise its product prices further at the moment because the cost of cheese and pizza boxes is starting to stabilize, and forecast its full-year profit would beat market expectations. Shares in the company rose as much as 9% at …
UK’s Domino’s Pizza to stop raising prices, expects profit beat Read More »
By Tom Sims FRANKFURT (Reuters) – Germany’s property sector is under stress, prompting firms to call for government support, property developers to file for insolvency and share prices of landlords to plunge. The real estate industry in Europe’s largest economy long benefited from an era of cheap money that fed a decade-long boom, but now …
Germany’s struggling property sector in five charts Read More »
By Sruthi Shankar (Reuters) -European stocks slipped on Tuesday, with the German DAX pulling back from record highs as shrinking factory activity in the euro zone and China underscored growing risks to the global economy from rising interest rates. The pan-European STOXX 600 index was down 0.5%, with carmakers, real estate and miners leading sectoral …
European shares retreat as factory activity falters Read More »
By Paul Sandle LONDON (Reuters) -Travis Perkins, Britain’s biggest supplier of building materials, said tough conditions in the new-build and renovation markets would not ease in the short term, even as inflation moderates and prices start to fall for commodities like timber. The company, which serves the trade through its merchant businesses like Travis Perkins …
Travis Perkins says new-build and renovation markets remain tough Read More »
(Reuters) – Cineworld Group said it has emerged from Chapter 11 bankruptcy after nearly 11 months, coming out with lower debt and a new slate of management and board. The world’s second largest cinema chain operator behind AMC Entertainment said it has appointed former Chair and CEO of Warner Bros Ann Sarnoff to its board, along …
By Vera Eckert and Rachel More DUESSELDORF (Reuters) -German utility Uniper mapped out plans to diversify its portfolio on Tuesday with billions of euros in green investments, hailing record earnings in the first half of 2023 as a turnaround following its bailout just a year earlier. “Uniper is back on track,” said new CEO Michael …
Germany’s bailed-out Uniper plans billions in green investments Read More »
BERLIN (Reuters) -German logistics and mail group DHL reported a slide in quarterly revenue and earnings on Tuesday due to a slump in freight volumes and prices, and warned of economic uncertainty ahead. Shares in DHL dropped 4% to 44.85 euros by 0807 GMT after the group said revenue fell by just over 16% to …
DHL Group’s Q2 earnings slump as freight volumes slide Read More »
BERLIN (Reuters) -Daimler Truck achieved a second-quarter record adjusted return on sales of 10.3% for its industrial business, the company said on Tuesday, even as it faced rising monthly costs from inflation. Supply chain issues were easing, the truck and busmaker said, with some bottlenecks remaining this year though no major production downtime was expected. …
Daimler Truck hits record returns margin amid rising costs Read More »
