PARIS (Reuters) -French luxury group LVMH has room to raise prices of high-end products by around 2-3% without likely affecting demand from luxury clients, but it would be difficult to lift prices of cognac or beauty products, company executives said on Wednesday. “We can increase prices by 2% to 3% per year,” deputy CEO Stephane …
LVMH has room to raise prices 2-3%, LVMH deupty CEO says Read More »
(Reuters) -The weeks’ long strike by 3,000 U.S. Pratt & Whitney engine workers will constrain cash flow during the second quarter, but the aerospace and defense company should be able to recover that during the year, RTX CEO Chris Calio said on Wednesday. Workers at two sites in Connecticut on Tuesday approved a contract offer, …
RTX CEO says Pratt & Whitney strike will weigh on second-quarter cash flow Read More »
By Iain Withers LONDON (Reuters) -BlackRock and BNP Paribas have become the latest asset managers to launch exchange-traded funds focused on funnelling cash into Europe’s defence industry, with at least nine new funds created in the last seven months. European governments are ramping up spending on ammunition, tanks and other arms in response to deepening …
Global investors launch Europe defence funds to profit from rearmament Read More »
By Sanchayaita Roy (Reuters) -Britain’s benchmark share index closed lower on Wednesday, while mid-caps were steady, as investors parsed a mixed bag of corporate earnings. The blue-chip FTSE 100 was down 0.6% and the midcap index FTSE 250 edged up just 0.04%. The FTSE 100 has gained 2.7% so far in May, heading for its …
London stocks mixed as investors assess corporate earnings Read More »
By Giulio Piovaccari MILAN (Reuters) -Stellantis named its North American chief Antonio Filosa as CEO on Wednesday, as the world’s fourth-biggest automaker by sales seeks to turn around its performance, boost its flagging share price and recover lost U.S. market share. The group, whose brands include Chrysler, Peugeot and Jeep, said the appointment, effective from …
Jeep-maker Stellantis names insider to lead revival Read More »
By Muvija M LONDON (Reuters) -Britain’s Thames Water, on the brink of financial collapse, will have to pay a record 122.7 million pounds ($165.36 million) fine for breaching its legal obligations over sewage treatment and dividend payments, regulator Ofwat said on Wednesday. The watchdog, which had previously issued a 104.5-million-pound penalty, added an additional 18.2 …
UK’s Thames Water fined $165 million over sewage and dividend breaches Read More »
By Jan Lopatka (Reuters) -Slovak refinery Slovnaft has secured alternative crude supplies to maintain diesel exports to the Czech market after the June 5 expiry of an EU exemption that allowed it to export products derived from Russian oil, parent company MOL said. Slovnaft exports about half of its production, and has been using primarily …
Slovak refiner will continue supplies to Czech Republic after sanctions waiver ends Read More »
By Foo Yun Chee BRUSSELS (Reuters) – (This story has been corrected to say that the hotel associations backed damages claims but are not themselves claimants in paragraph 1; and to clarify that HOTREC backs hotels’ claims, not hotel associations, in paragraph 5) Booking.com could face Dutch damages claims running into millions of euros after …
Booking.com targeted as hotels plan Dutch damages claims over price clauses Read More »
MILAN (Reuters) -Italian luxury sneaker maker Golden Goose still sees a market listing as an excellent opportunity but rules out an initial public offering this year and is leaving the door open to M&A options, its CEO told Reuters on Wednesday. “An IPO remains a very good opportunity”, Chief Executive Officer Silvio Campara told Reuters …
Italy’s Golden Goose rules out IPO this year, sees limited impact from tariffs Read More »
By Kate Abnett BRUSSELS (Reuters) -The European Union is nearly on track to reach its main climate target for this decade, with countries’ existing CO2-cutting plans set to bring the bloc within one percentage point of the goal, the European Commission said on Wednesday. The EU is on course to reduce its net greenhouse gas …
