(Reuters) – European shares advanced on Wednesday, as risk appetite was supported by a slew of positive earnings updates, setting the benchmark index on track for its longest winning streak since November 2021. The pan-European STOXX 600 was up 0.3% by 0815 GMT, boosted by rate-sensitive technology stocks. Dutch semiconductor supplier ASM International NV jumped …
European shares extend winning streak on earnings boost Read More »
LONDON (Reuters) – British luxury brand Burberry is seeing “very promising” signs in China so far this month after the lifting of strict COVID-19 curbs in the country, Chief Financial Officer Julie Brown said on Wednesday. She added though that the timing and pace of recovery in China, Burberry’s biggest market, was unpredictable. (Reporting by …
Burberry seeing “very promising” signs from China reopening Read More »
By Francesco Canepa FRANKFURT (Reuters) – European Central Bank staff are losing confidence in the institution’s leadership following the ECB’s failure to control inflation and a pay award that lagged the leap in prices, according to a survey by trade union IPSO. The survey was organised in the context of a dispute between IPSO, which …
Exclusive-ECB union says staff losing faith in leadership over inflation, pay Read More »
(Reuters) -Microsoft Corp plans to cut thousands of jobs with some roles expected to be eliminated in human resources and engineering divisions, according to media reports on Tuesday. The expected layoffs would be the latest in the U.S. technology sector, where companies including Amazon.com Inc and Meta Platforms Inc have announced retrenchment exercises in response …
Microsoft to cut thousands of jobs across divisions – reports Read More »
PARIS (Reuters) – European Central Bank (ECB) member Francois Villeroy de Galhau reaffirmed on Wednesday his determination to bring inflation in the euro zone down to around 2% by 2024 or 2025. He also repeated that Europe should avoid a recession this year and that inflation was likely to peak in the first half of …
ECB’s Villeroy reaffirms determination to get inflation down to around 2% -Bloomberg TV Read More »
AMSTERDAM (Reuters) – Just Eat Takeaway CEO Jitse Groen on Wednesday said the company remains in talks to sell its U.S. Grubhub subsidiary, but the sales process is “difficult” given the current M&A market. “We’ve been in the sales process for quite some time,” Groen said on a call following a fourth-quarter trading update. “Realistically …
Takeaway CEO Groen: sales process for Grubhub ‘difficult’ given current M&A market Read More »
By Dawn Chmielewski LOS ANGELES (Reuters) – Walt Disney Co on Tuesday defended its decision to deny Nelson Peltz a board seat, saying the activist investor “lacked the skills and experience” to help the media and entertainment giant. The house of Mickey Mouse in a letter to shareholders also underlined the company’s successes under Chief …
Disney says Peltz ‘lacks skills’ to help business as proxy battle heats up Read More »
(Reuters) -Twitter Inc has secured a ruling allowing the social media company to force several laid-off workers suing over their termination to pursue their claims via individual arbitration than a class-action lawsuit. U.S. District Judge James Donato on Friday ruled that five former Twitter employees pursuing a proposed class action accusing the company of failing …
Twitter’s laid-off workers cannot pursue claims via class-action lawsuit-judge Read More »
By Victoria Waldersee and Christoph Steitz BERLIN/FRANKFURT (Reuters) – Chemicals giant BASF <BASFn.DE> on Tuesday unveiled a 7.3 billion euro ($7.9 billion) non-cash impairment on Wintershall Dea , after the oil and gas exploration joint venture decided to exit Russia following its invasion of Ukraine. “Wintershall Dea will end its Russian activities. Continuing to operate …
Wintershall Dea to leave Russia, causing net loss at parent BASF Read More »
BERLIN (Reuters) -Continental reported a 5% adjusted earnings margin in 2022 in preliminary figures released on Tuesday, towards the lower end of its outlook, with sales of 39.4 billion euros ($42.55 billion). The auto parts supplier had said in November it expected to hit the upper end of its adjusted earnings forecast but warned the …
Continental earnings margin for 2022 near lower end of outlook, preliminary figures show Read More »
