STOCKHOLM (Reuters) – Ericsson said on Thursday it would book a 2.3 billion Swedish crown ($220 million) provision for an expected fine from U.S. authorities for the breach of a settlement reached in 2019. Ericsson’s share price surged 7.7% in afternoon trading, as analysts had expected a larger fine similar to the $1 billion it …
Ericsson’s provision for U.S. probe hints of smaller fine, shares jump Read More »
By James Davey LONDON (Reuters) -Britain’s biggest retailer Tesco said it would focus on offering customers better value deals in January as it does not believe inflation has peaked, preparing for a tough 2023 after shoppers spent big at Christmas. Trading updates show consumers did not hold back in December, with families hosting larger Christmas …
Britain’s Tesco to target value offers after strong Christmas Read More »
By James Davey and Paul Sandle LONDON (Reuters) – British shoppers spent freely at Christmas, piling their trolleys with party food, drink and clothing as they enjoyed the first holiday season free of COVID worries for three years, but retailers warned they will tighten their belts in 2023. Tesco and Marks & Spencer, two of …
Britons splurge at Christmas but retailers brace for tougher 2023 Read More »
BERLIN (Reuters) – Google and Porsche are in talks over a possible deal to allow Google Apps to be used in Porsche cockpits, German business magazine Manager Magazin reported on Thursday, citing managers from both companies. A focus of the deal would be access to Google Maps, the report added. Spokespeople for Porsche and Google …
Google, Porsche in talks over Google Apps access – Manager Magazin Read More »
By Dominique Vidalon PARIS (Reuters) -Shares in Ubisoft fell 20% on Thursday after the French video game maker warned on revenue and postponed the release of its game “Skull and Bones”, prompting analysts to cut their estimates and price targets. Late on Wednesday, Ubisoft said that it was increasing its writedown estimate to 500 million …
Ubisoft shares slump 20% after French video game maker warns on revenue Read More »
LONDON (Reuters) -The chief executive of British retailer Tesco, Ken Murphy, said on Thursday that inflation may have not peaked “just yet,” adding that he hoped it would come down by the middle of this year. “We’re not sure it’s peaked just yet,” Murphy said in response to a question on inflation. “We would hope …
Tesco boss says inflation may not have peaked ‘just yet’ Read More »
(Reuters) – UK’s FTSE 100 rose on Thursday as gains in commodity stocks outweighed losses in retailers such as Tesco, while investors globally awaited U.S. data to see if inflation has slowed. The blue-chip FTSE 100 gained 0.6% by 0830 GMT, while the more domestically focused FTSE 250 mid-cap index rose 0.6%. Tesco lost 1.3% …
Commodity-linked stocks push FTSE 100 higher; retailers slide Read More »
(Reuters) – Germany’s Rheinmetall said on Thursday it had launched the initial production phase of its new Lynx infantry fighting vehicle in Hungary. Low-rate initial production (LRIP) includes fabrication of the Lance medium-calibre turret as well as additional variants of the Lynx, the company said. Full production is due to commence in July 2023. (Reporting …
Rheinmetall launches production of Lynx fighting vehicle in Hungary Read More »
By Aby Jose Koilparambil (Reuters) -The UK’s No.2 homebuilder Persimmon Plc on Thursday followed larger rival Barratt in warning of a slowdown in housing demand due to higher mortgage rates and broader economic uncertainty. The UK housing market has slowed in recent months hit by a spike in mortgage rates and lower loan availability. Concerns …
UK’s Persimmon warns on housing demand amid higher mortgage rates Read More »
(Reuters) – European shares edged higher on Thursday amid caution ahead of U.S. inflation data that could sway the monetary policy direction at the world’s largest economy, while Logitech dropped on cutting sales outlook after quarterly miss. The pan-European STOXX 600 rose 0.3% by 0810 GMT. The focus is on U.S. inflation data due at …
European shares rise as investors await U.S. inflation data Read More »
