MILAN/PARIS (Reuters) – Sales of luxury goods worldwide are likely to fall between 2% and 5% this year, consultancy Bain & Co forecast on Wednesday, sharply downgrading its previous estimate for 0-4% growth and signalling further gloom for the sector after 2024’s 1% drop. Ahead of its closely-watched spring report, Bain said the luxury market …
Luxury sector faces more gloom as Bain cuts sales forecast Read More »
MADRID (Reuters) -Spanish telecoms company Telefonica’s Chief Executive Emilio Gayo said on Wednesday that his company was satisfied with its Liberty Global tie-up to run Britain’s Virgin Media O2 and is not seeking to take control. “We’re very happy with the current situation. The joint venture is working very well, we don’t have any deal …
Telefonica says it is satisfied with VMO2 tie-up, with ‘no deal on the table’ Read More »
(Reuters) -Britain’s blue-chip index closed lower on Wednesday, while mid-caps clocked gains as investors assessed a mixed bag of corporate earnings, with the focus shifting to the state of the country’s economy. The benchmark FTSE 100 was down 0.2%, while the domestically focused FTSE 250 was up 0.3%. Despite the day’s muted performance, Goldman Sachs …
London stocks end mixed as investors assess corporate earnings Read More »
By Nikhil Sharma and Purvi Agarwal (Reuters) – European shares eased on Wednesday after a four-day rally fuelled by the U.S.-UK and U.S.-China trade deals that relieved some concerns over the global trade war, while downbeat corporate earnings also weighed. The continent-wide STOXX 600 index closed 0.2% lower, its first loss in five sessions. The …
European shares pull back after rally, earnings disappoint Read More »
By Pietro Lombardi MADRID (Reuters) – An abrupt loss of power generation at a substation in Granada, followed by failures seconds later in Badajoz and Seville, triggered an unprecedented blackout across Spain and Portugal on April 28, Spain’s energy minister said on Wednesday. Sara Aagesen told lawmakers that the three initial incidents, whose cause has …
Granada substation power loss pinpointed as ground zero of Spain’s blackout Read More »
By Stefania Spezzati, Jesús Aguado, Lawrence White, Elisa Martinuzzi LONDON (Reuters) -European Central Bank supervisors are asking some of the region’s lenders to assess their need for U.S. dollars in times of stress, as they game out scenarios in which they cannot rely on tapping the Federal Reserve under the Trump administration, three people with …
ECB supervisors press banks on dollar funding over Trump concerns, sources say Read More »
PARIS (Reuters) -HSBC plans to cut 348 jobs in France through a voluntary redundancy scheme, amounting to about 10% of its workforce in the country, the bank said on Wednesday. The job losses are part of a cost-cutting drive led by CEO Georges Elhedery, who aims to reduce expenses by $1.8 billion by the end …
By Christoph Steitz, Andres Gonzalez and Emma-Victoria Farr FRANKFURT/LONDON (Reuters) -State-owned Dutch power grid operator TenneT has kicked off talks with investors about the sale of a minority stake in its German division, four people familiar with the matter said, in what could become one of Europe’s largest deals in 2025. TenneT Germany has a …
By Alessandro Parodi (Reuters) -Euronext’s revenues hit record levels in the first quarter on the back of “exceptional market volatility”, the European stock exchange operator said on Wednesday, and its core profit was stronger than analysts expected. The group, which operates exchanges in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris, has benefited from disruptions …
Euronext sales hit record on back of ‘exceptional market volatility’ Read More »
LONDON (Reuters) – Britain is planning to allow foreign states to own up to 15% of a newspaper title, a government official said on Wednesday – a move that could speed up the sale of the Telegraph. The battle over one of Britain’s most famous newspapers has raised questions about the independence of the media …
UK planning to allow foreign states to own 15% stake in newspaper titles – source Read More »
