By Mimosa Spencer and Silvia Aloisi PARIS (Reuters) – Sales at French luxury group Kering fell 7% in the fourth quarter, dragged lower by a slump in revenue at its biggest brand Gucci which was hit by COVID lockdowns in China and weaker demand in the United States due to a stronger dollar. Kering shares …
Gucci China, US slump pushes Kering sales down 7% Read More »
By Marie Mannes and Anna Ringstrom STOCKHOLM (Reuters) – IKEA, the world’s biggest furniture brand, said on Wednesday its annual carbon emissions fell 5% in the last fiscal year following efforts to boost renewable energy use and make its products more energy efficient. IKEA has a target to be climate positive – reducing more greenhouse …
IKEA says shrinks climate footprint with help from new light bulbs Read More »
By Clara Denina and Helen Reid LONDON (Reuters) -Glencore announced a payout of $7.1 billion to its investors on Wednesday, including a $1.5 billion share buyback, as strong oil and coal prices helped it post a record annual profit. In preliminary 2022 results, the miner and trader said it cut net debt to $75 million …
Glencore dishes $7.1 billion to shareholders after record annual profit Read More »
OSLO (Reuters) – H&M, the world’s second biggest fashion retailer, said on Wednesday it had formed a joint venture with German recycling group Remondis to collect, sort and sell used and unwanted garments and textiles. The fast-fashion industry to which H&M belongs is looking for ways to curb its carbon footprint in response to growing …
H&M and Remondis form textiles recycling venture Read More »
By Lawrence White and Iain Withers LONDON (Reuters) -Barclays reported a 14% fall in annual profits, hurt by surging expenses and by an administrative blunder that led to costly fines and which compounded a collapse in deal fees earned by its investment bank. The British lender reported a pretax profit for 2022 of 7 billion …
Barclays profit slides as costs surge, deals fees collapse Read More »
PARIS (Reuters) – Gucci’s new creative director, Sabato De Sarno, will join the group in the second quarter of this year, Kering’s chief executive Francois-Henri Pinault said on Wednesday. Gucci parted ways with its star designer Alessandro Michele last November as sales lagged competitors, and in January announced the appointment of De Sarno, a relatively …
Kering CEO says new Gucci designer to join during Q2 Read More »
By Philip Blenkinsop BRUSSELS (Reuters) -Heineken, the world’s second-largest brewer, repeated its forecast of a profit increase this year despite weakness in Europe, as it reported a higher-than-expected 2022 profit on the back of a recovery in beer drinking to pre-pandemic levels. The Dutch-based company whose brands include Tiger and Sol said operating profit would …
Heineken sees 2023 profit increase despite Europe weakness Read More »
(Reuters) – Britain’s auction to ensure sufficient electricity capacity for 2023/24 cleared at 60 pounds ($73.07) per kilowatt (kW) per year on Tuesday, National Grid said, down from last year’s record high of 75 pounds/kWh/year. A total of 5.78 gigawatts (GW) of capacity was procured, the National Grid said in a provisional auction document. Britain …
UK power capacity auction prices fall from record Read More »
AMSTERDAM (Reuters) -Supermarket group Ahold Delhaize on Wednesday reported a forecast-beating 22% jump in fourth-quarter core earnings helped by strength in U.S. markets and cost savings. Finance chief Natalie Knight said in an interview that lower-than-expected energy costs in Europe had also helped lift the bottom line. Quarterly underlying operating income rose to 1.03 billion …
Retail group Ahold beats expectations thanks to buoyant U.S. sales Read More »
(Reuters) -Danish pharmaceuticals company Bavarian Nordic has agreed to buy a portfolio of travel vaccines from Emergent BioSolutions Inc for up to $380 million, it said on Wednesday after delivering an upbeat outlook for 2023. The company said it would acquire a typhoid fever vaccine, one against cholera and a Chikungunya virus treatment that is …
Bavarian Nordic to buy travel vaccine portfolio for up to $380 million Read More »
