By Pamela Barbaglia (Reuters) – Credit Suisse’s latest shake-up has led to the promotion of some senior executives to more powerful roles while others are leaving. The bank is significantly reducing its workforce, cutting overall headcount from around 52,000 at the end of the third quarter to 43,000 by the end of 2025. Here is …
Factbox-Who’s in and out in Credit Suisse’s day of reckoning Read More »
By Dominique Vidalon PARIS (Reuters) – French food group Danone on Thursday raised its 2022 revenue growth forecast after its third-quarter sales beat analysts’ estimates as the firm was able to raise prices to counter soaring costs. The consumer goods giant and owner of Evian and Badoit water and Activia yoghurt said it now expected …
Food group Danone raises 2022 outlook as third-quarter sales beat expectations Read More »
By Juliette Portala (Reuters) -French retailer Casino said on Thursday it had launched a study for the potential disposal of part of its stake in Brazilian cash-and-carry chain Assai as it looks to reduce its debt. The company, which has been facing concerns over high debts and low cash flows and hopes to complete a …
Casino’s potential stake sale in Brazilian Assai ‘saves some time’ Read More »
By Mathieu Rosemain PARIS (Reuters) – Investors brushed off upbeat comments by STMicroelectronics’ boss on Thursday after the Franco-Italian chipmaker pointed to a slower pace of growth at year end, as falling demand for electronic products adds to fears of a global recession. Shares of the Geneva-based company, whose biggest clients include iPhone maker Apple …
Investors brush off STMicro CEO’s growth assurances, shares dive Read More »
MADRID (Reuters) – Spanish energy group Repsol said on Thursday it will raise its dividend and buy back more shares than previously announced after its third quarter net profit doubled on the back of higher oil and gas prices. Repsol’s board agreed to raise its 2023 dividend by 11% to 0.70 euros per share and …
Repsol raises dividend, share buybacks after third quarter profit doubles Read More »
LONDON (Reuters) – Shell does not expect to pay UK windfall taxes in the current quarter as it is investing in new North Sea oil and gas projects such as Jackdaw, triggering a mechanism largely offsetting the tax, its chief financial officer said. The levy, which was introduced in May, meant Shell paid around $360 …
Shell to avoid UK windfall tax this quarter due to investments, CFO says Read More »
COPENHAGEN (Reuters) – Danske Bank on Thursday said it would book a 14 billion Danish crowns ($1.89 billion) provision related to the lender’s involvement in a money laundering scandal in Estonia. ($1 = 7.3921 Danish crowns) (Reporting by Stine Jacobsen, editing by Terje Solsvik)
By Nora Buli OSLO (Reuters) -Swedish utility Vattenfall is preparing for an expected outflow of cash from margin calls caused by high energy market volatility, the company’s chief executive told Reuters on Thursday, following inflows this year. Deposits made by companies to secure financial trading in energy, known as margin calls, have been driven higher …
Sweden’s Vattenfall braces for cash outflow from margin calls Read More »
ATHENS (Reuters) – Greek consumers should cut use of energy-hungry appliances during peak hours to help save at least 5% of energy over the winter, its energy minister said on Thursday. The comments come after EU countries agreed to a mandatory target to cut electricity consumption from December to March so as to tame surging …
Greece urges cuts in peak-hour use of energy-intensive appliances Read More »
MILANO (Reuters) – Italian spirits group Campari said on Thursday its third-quarter sales rose 18.6% on a like-for-like basis, boosted by robust brand momentum in the key summer season and helped by price increases. Campari confirmed the group’s full year guidance of flat organic margin for EBIT-adjusted earnings despite the impact in the quarter of …
Campari Q3 sales up 18.6% thanks to robust brand momentum, price hikes Read More »
