MILAN (Reuters) – Shares in Italy’s Moncler rose more than 4% on Thursday after the fashion group released better-than-expected results, lifting some of the gloom over the luxury sector. Shares in heavyweight LVMH fell on Wednesday, dragging down its rivals, as an in-line increase in sales at the world’s top luxury goods group indicated the …
Moncler’s shares rise after strong first half provides comfort Read More »
LONDON (Reuters) – Nestle will raise prices at a more moderate rate in the remainder of 2023, its CEO said on Thursday, as the company hit back at criticism that food manufacturers are charging more than they need to. Consumer goods companies have raised prices in the past two years in response to the impact …
Nestle says price rises will moderate in rest of 2023 Read More »
LONDON (Reuters) – British businesses were the least concerned about their trading prospects for the coming month since February last year, the Office for National Statistics said on Thursday. The ONS said around two thirds of companies, or 67%, reported some form of concern for their business in August, the lowest percentage since February 2022, …
Two thirds of UK firms concerned about short-term outlook, fewest since Feb 2022: ONS Read More »
By Jesús Aguado MADRID (Reuters) -Higher margins helped Spain’s Sabadell double net profit in the second quarter, beating market expectations and prompting the bank to lift its guidance for overall lending income and profitability in 2023. Spain’s fourth-largest bank by market value reported a net profit of 359 million euros ($398 million) for April-June, compared …
Sabadell doubles Q2 net profit, lifts guidance for 2023 Read More »
By Victoria Waldersee BERLIN (Reuters) – German automaker Mercedes-Benz raised its earnings forecast on stronger orders, an improved supply chain and higher sales and said it would carry on combatting costs by hiking prices despite worries over inflation weighing on demand. “Will the price lever be as strong in the coming quarters? We will be …
Mercedes-Benz raises earnings outlook as supply snags ease Read More »
BERLIN (Reuters) – German rail operator Deutsche Bahn on Thursday said it expected an operating loss of just below 1 billion euros ($1.11 billion) this year, as energy prices, investment costs and interest rates weigh on results. ($1 = 0.8981 euros) (Writing by Friederike Heine; editing by Matthias Williams)
By Aditya Soni (Reuters) – Meta shares surged nearly 8% on Thursday as a rosy revenue forecast showed that artificial intelligence was helping the social media giant boost engagement and ad sales even in an uncertain economy. The Facebook owner was set to add about $60 billion to its market value, based on premarket movements, …
Meta rallies as AI-powered ad sales drive ‘monster’ forecast Read More »
By Richa Naidu LONDON (Reuters) -Nestle improved its full-year organic sales outlook and reported better-than-expected first-half organic sales, as the world’s biggest packaged food company again raised prices to cope with higher input costs. Nestle said it is narrowing its full-year organic sales growth guidance – which does not include the impact of currency movements …
Nestle sales outlook brightens after strong first half Read More »
PARIS (Reuters) – BNP Paribas is set to resolve a U.S. probe into employees’ use of unapproved messaging platforms, its mid-year earnings report showed on Thursday, which could see the French bank face a fine. The Securities and Exchange Commission (SEC) in 2021 began examining how Wall Street banks were keeping track of employees’ digital …
BNP Paribas facing potential fine as it resolves U.S. messaging probe Read More »
By Gaelle Sheehan and PierreJohn Felcenloben (Reuters) -French industrial gases firm Air Liquide said on Thursday that first-half net profit surged 32%, driven by price hikes, a strong performance by its industrial clients business and cost savings. Net profit climbed to 1.72 billion euros ($1.9 billion) despite a 1.6% decline in revenue to 13.98 billion …
Air Liquide net profit jumps in first half on price hikes Read More »
