By James Davey LONDON (Reuters) -ASOS, one of the pioneers of online fashion retailing, swung to a first-half loss, hit by a squeeze on household budgets and forecast a further drop in sales, sending its shares sharply lower. The stock was down 11% on Wednesday, extending losses over the last year to 57%, after the …
By Foo Yun Chee and Ilona Wissenbach BRUSSELS (Reuters) -Ryanair on Wednesday won its challenge against Lufthansa’s 2020 state bailout, as Europe’s second-highest court cited errors in EU competition regulators’ decision to approve the German government’s rescue package. Lufthansa has already repaid the aid in full, which could limit any immediate impact of the ruling, …
Ryanair wins court challenge against Lufthansa state bailout Read More »
LONDON (Reuters) – Britain’s Virgin Atlantic warned it would not return to profitability until 2024, pushing back its previous forecast of this year, as a weaker pound, rising costs and higher interest rates offset strong demand for travel. For 2022, Virgin Atlantic posted a pretax loss of 206 million pounds ($256 million) on revenues which …
Virgin Atlantic sees profitability returning in 2024, later than expected Read More »
By Joanna Plucinska LONDON (Reuters) -German travel firm TUI said it expects strong revenue and higher profit in 2023 on the back of a jump in summer bookings, despite the risk of travel disruption triggered by strikes. Airlines such as Lufthansa, easyJet and Ryanair have all pointed to robust summer bookings, showing consumers prioritising travel …
TUI sees summer travel demand ‘significantly’ lifting 2023 profit Read More »
By Christoph Steitz and Tom Käckenhoff FRANKFURT (Reuters) -E.ON, Europe’s largest energy networks operator, expects to hit the upper end of its profit outlook in 2023, boosted by strong first-quarter results that it said reflected a broad sector recovery following last year’s crisis. That recovery, which follows a major reshuffle of Europe’s energy sector in …
E.ON aims at upper end of 2023 outlook after strong first quarter Read More »
LONDON (Reuters) – Britain must not be left behind in rapid financial innovation and it was getting closer to deciding “when, rather than if” it would issue a digital version of sterling, its financial services minister said on Wednesday. “I don’t want the UK to be left behind,” Andrew Griffith told an event held by …
Britain edging closer to digital pound decision, says minister Read More »
BERLIN (Reuters) -Continental confirmed its 2023 outlook on Wednesday as a result of strong first-quarter results, with sales increasing 11.1% to 10.3 billion euros ($11.34 billion). The German automotive parts company said adjusted earnings before interest and taxes had risen 35% to 578 million euros in the quarter, with particularly strong sales in its automotive …
Continental confirms 2023 outlook after solid first quarter Read More »
By Yadarisa Shabong (Reuters) -Food caterer Compass Group raised its fiscal 2023 forecasts on Wednesday after half-year profit soared 41%, benefiting from more people returning to work and events, while coping with elevated food inflation across its markets. The world’s largest catering group has emerged a much bigger business from the COVID-19 pandemic, thanks to …
British caterer Compass sizzles on forecast raise and profit jump Read More »
By Lisa Baertlein LOS ANGELES (Reuters) -Amazon.com is offering U.S. customers $10 to pick up a purchase rather than have it shipped to a home address, as the e-commerce giant joins other retailers in racing to slash costs for home delivery and returns amid slack consumer demand. Amazon said the promotion is not a cost-cutting …
Amazon offers US shoppers $10 to pick up purchases as it targets delivery costs Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Amazon, Alphabet’s Google, Microsoft and other non-European Union cloud service providers looking to secure an EU cybersecurity label to handle sensitive data can only do so via a joint venture with an EU-based company, according to an EU draft document seen by Reuters. U.S. tech giants and others …
