Reuters UK Business

By Mimosa Spencer PARIS (Reuters) -Birkin bag maker Hermes posted a forecast-beating rise in sales in the fourth quarter, lifted by brisk business in the United States and double-digit revenue growth in China even as the rest of the sector took a hit from rising COVID infections. European luxury brands have benefited from a strong, …

Hermes sales lifted by robust growth in U.S., China Read More »

(Reuters) – British estate agent Purplebricks Group Plc has started a strategic review after a recently implemented turnaround plan disrupted sales more than expected and would lead to a bigger annual loss than it previously forecast. In a statement on Friday it said its board had recognised that the potential of the group may be …

UK’s Purplebricks starts strategic review, forecasts bigger core loss Read More »

By William Schomberg and William James LONDON (Reuters) – British consumers unexpectedly increased their shopping in January, but the big picture remains one of weak demand from inflation-hit households relying more on discounts at retailers to make ends meet. Official data published on Friday showed sales volumes rose by 0.5% from December for only the …

UK consumers bought more in January but overall gloom persists Read More »

(Reuters) -Asset manager Legal & General filed a lawsuit against Glencore in London’s High Court last week over investor losses after the Swiss mining and commodities group admitted to multiple bribery offences in 2022, the Financial Times reported. Glencore’s UK subsidiary pleaded guilty to seven instances of bribery last June in relation to its oil …

Legal & General sues Glencore for investor losses after corruption fallout – FT Read More »

By Joanna Plucinska LONDON (Reuters) -Air France-KLM said on Friday its 2023 bookings were almost back to pre-pandemic levels as it reported a better-than expected fourth-quarter operating profit with global travel demand seeing a rebound. The airline’s shares rose more than 6% in early trade, hitting their highest since June and outperforming the broader weak …

Air France-KLM sees robust bookings after better-than-expected Q4 Read More »

By Victoria Waldersee STUTTGART (Reuters) -Mercedes-Benz Group on Friday beat analysts’ forecasts with annual earnings of 20.5 billion euros ($21.80 billion), but the premium carmaker warned of lower earnings this year due to economic uncertainty. The company’s forecast chimes with warnings from across the industry of a challenging year ahead, with Germany’s autos association predicting …

Mercedes-Benz flags market uncertainty despite 2022 earnings boost Read More »

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Bailed-out gas trader Uniper expects profits to recover in 2023 after last year’s record loss, as a decline in gas prices should reduce the cost of replacing fuel previously provided by its main supplier Gazprom. Adjusted operating profit (EBIT) and adjusted net profit are both expected to …

Uniper expects profits to recover as gas prices ease Read More »

By Mimosa Spencer PARIS (Reuters) -Gucci is banking on new ultra-high-end “salons” offering merchandise priced at up to $3 million to help narrow a widening gap with rival Louis Vuitton as it waits for its new creative director to arrive. Chasing after the ultra-rich whose fortunes are largely immune to economic turbulence, Gucci will stock …

Gucci banks on private ‘salons’ for the ultra-rich to revive sales Read More »

(Reuters) – Visa said on Thursday its chief financial officer, Vasant Prabhu, will leave the company on Sept. 30, after eight years as one of the top executives at the payments giant. Prabhu, who joined the company in 2015, will assist the company with the search for and the onboarding of his replacement. In November, …

Visa’s finance chief Vasant Prabhu to leave payments giant Read More »