By Sarah Young LONDON (Reuters) – British-based JD Sports will spend up to 3 billion pounds ($3.7 billion) to open as many as 1,750 stores over the next five years, said new CEO Régis Schultz, outlining his plans for the retailer to become an athletic leisurewear “powerhouse”. Schultz, a former boss of French retailer Monoprix, …
JD Sports’ new CEO Schultz lays out growth plans Read More »
ZURICH (Reuters) – The Swiss National Bank expects inflation to remain elevated in Switzerland “for the time being,” Chairman Thomas Jordan said on Thursday, raising the possibility of further interest rate hikes to bring price rises under control “Inflation in Switzerland is currently above the level of price stability,” Jordan told an event in Zurich. …
Swiss National Bank chairman hints at further rate hikes to stem inflation Read More »
By Mathieu Rosemain and Dominique Vidalon PARIS (Reuters) – Casino’s preliminary talks with Teract to combine their French retail activities perplexes some analysts, who say a deal wouldn’t address the supermarket group’s urgent need to slash debt. Casino, controlled by 73-year-old Jean-Charles Naouri, faces a wall of debt, starting with about 1.3 billion euros ($1.42 …
Analysts sceptical as Casino opens talks with Teract Read More »
By Howard Schneider, Balazs Koranyi and William Schomberg WASHINGTON/FRANKFURT/LONDON (Reuters) – Global central banks that raced to raise interest rates last year amid soaring inflation are now laying the groundwork in unison for a pause that, while not yet promised, is coming into view for later this year. The shift was couched in different ways …
After a joint rate surge, central banks start to see the end in sight Read More »
By Aditya Soni and Medha Singh (Reuters) -Meta Platforms Inc shares rose about 28% on Thursday and helped spark a rally in the technology sector after the Facebook owner floored Wall Street by slashing its spending forecast and boosting its stock buyback plan by $40 billion. The company was set to add more than $110 …
Meta mojo is back as earnings surprise powers Big Tech rally Read More »
By Naomi Rovnick and Dhara Ranasinghe LONDON (Reuters) – Central bank policy announcements, once viewed as the rule book for how markets should move, are not resonating with traders any more. Take Wednesday’s Federal Reserve rate move. The central bank lifted its main funds rate by 25 bps to its highest since 2007 as it …
Markets to central bankers: we don’t believe you Read More »
By Sruthi Shankar and Shristi Achar A (Reuters) – The UK’s main stock indexes rose on Thursday after the Bank of England (BoE) said inflation had probably peaked and forecast a shallower recession in 2023 after raising interest rates in line with expectations. The blue-chip FTSE 100 rose 0.8%, hitting its highest level in two …
UK stocks hold gains after BoE hints rates near peak; FTSE 250 jumps Read More »
By Marie Mannes and Anna Ringstrom STOCKHOLM (Reuters) – Sweden’s Electrolux on Thursday predicted lower sales volumes in 2023 due to weak consumer confidence, and said it may not be able to fully pass on higher energy and labour costs, sending its shares down as much as 11%. Europe’s biggest appliance maker said it expected …
Electrolux predicts lower sales volumes, sending shares tumbling Read More »
(Reuters) -French software maker Dassault Systemes on Thursday forecast a revenue growth of between 8% and 9% in constant currency in 2023 after reporting a resilient fourth quarter, which boosted its shares. The group, which sells software to automakers, planemakers and industrial firms, guided for an annual revenue of between 5.93 billion euros and 5.98 …
Dassault Systemes shares jump on solid fourth quarter, 2023 forecast Read More »
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Deutsche Bank shares fell as much as 5% in early Thursday trading as investors looked beyond forecast-beating quarterly earnings and a third consecutive year of profit to the challenges that lie ahead. Some analysts were disappointed by a drop in fourth-quarter investment bank revenues and warned …
Deutsche Bank slips as focus shifts from revamp to tough outlook Read More »
