By Alexander Marrow AMSTERDAM (Reuters) -Nestle’s new CEO Philipp Navratil has started with a bang, announcing 16,000 job cuts and a portfolio review that could see brands sold or partnered off as the world’s largest packaged food company looks to focus on fast-growing areas. Nestle’s shares leapt 9.3% on Thursday, the biggest daily rise since …
What’s in Nestle’s sprawling food empire as new CEO wields axe? Read More »
(Reuters) -Britain’s SIG on Friday said demand in the European construction market remained muted in the third quarter, with no signs of recovery, as the building materials supplier posted flat like-for-like sales for the period. The company, like peers Travis Perkins and Ibstock, has been bogged down by cautious customers and builders pulling back on …
Britain’s SIG reports muted sales as construction industry stalls Read More »
PARIS (Reuters) -Veronique Nichanian, artistic director of menswear styles at Hermes , is departing after 37 years at the brand, Hermes confirmed on Friday. Her departure comes amid a sector-wide designer overhaul with dozens of high-end fashion brands recruiting new designers, including Matthieu Blazy, 41, at Chanel and Jonathan Anderson, 41, at Dior. Nichanian, 71, …
Hermes designer Veronique Nichanian to depart after 37 years Read More »
(Reuters) -British fast-fashion retailer ASOS said on Friday it is in talks with the German customs authority relating to a legal dispute over import duty underpayments. The Financial Times reported earlier in the day that German tax authorities are pursuing ASOS for unpaid customs duties in a legal dispute over customs declarations on the retailer’s shipments …
UK’s ASOS in talks with German authorities over customs duty claims Read More »
By Amy-Jo Crowley and Charlie Conchie LONDON (Reuters) -Canadian financial services group Canaccord Genuity has been sounding out potential bidders, including CVC and Advent, for its British wealth arm, two people with knowledge of the matter told Reuters. The CEO of the unit, known as Canaccord Wealth, has held meetings with private equity firms recently …
Canaccord Genuity in early talks over possible sale of British wealth arm, sources say Read More »
A look at the day ahead in European and global markets from Stella Qiu It was already a troubling set-up for stocks, with valuations stretched, the whiff of an AI bubble, a shut U.S. government and the ongoing break-up between Washington and Beijing. Now, add in jitters about U.S. regional banks. Overnight, Zions sank 13% …
Morning Bid: Add credit risk to a bubble, and stand well back Read More »
By Casey Hall SHANGHAI (Reuters) -OTB Group, the parent of Italian denim specialist Diesel and owner of luxury brands including Maison Margiela, is positive on the Chinese market and is investing more in it, founder and chairman Renzo Rosso said. Rosso, in China to mark Diesel’s 20 years in that market, said he is continuing …
Diesel brand owner OTB is positive on China and in no rush to IPO Read More »
WASHINGTON (Reuters) -Britain’s government said on Friday it has launched what it hopes will be one-stop, concierge service to make it easier for financial services firms to invest in the country. The new Office for Investment: Financial Services will seek to attract investment to cities around Britain, finance minister Rachel Reeves said. The service will …
UK opens new concierge service in bid to woo more finance investment Read More »
By Abigail Summerville (Reuters) -Consumer goods company Mammoth Brands announced on Thursday that it will buy premium baby care brand Coterie, which counts models and entrepreneurs Karlie Kloss and Ashley Graham as investors. The deal could value Coterie at over $1 billion, subject to earnouts based on the company hitting certain financial targets, according to people …
Mammoth Brands clinches $1 billion-plus deal for high-end diaper maker Coterie Read More »
By Virginia Furness LONDON (Reuters) -The head of South Pole, a carbon finance consultancy and project developer, has left his role and will be replaced by current chief financial officer Nadia Kaddouri with immediate effect, two people familiar with the matter said on Thursday. Daniel Klier, who became South Pole’s CEO in May 2024, had …
CEO Daniel Klier leaves role at South Pole carbon consultancy Read More »
