(This story has been corrected to clarify that dealers in Austria, Belgium, Luxembourg and Netherlands will still move to the ‘agency’ model, in paragraph 6) VERONA, Italy (Reuters) -Stellantis suspended a contested plan to overhaul the legal structures of its dealership network in Europe, its chief for the region said on Tuesday, as the carmaker …
Stellantis freezes plan to overhaul dealer structure in Europe Read More »
By Marleen Kaesebier (Reuters) -The outlook for European corporate health has improved, the latest earnings forecasts showed on Tuesday. European companies are expected to report a rise of 1.9% in first-quarter earnings, on average, according to LSEG I/B/E/S data, better than the 0.4% rise analysts expected a week ago. The improvement comes after 59.6% of …
European first-quarter corporate profits seen rising 1.9%, up from last week’s estimate Read More »
BERLIN (Reuters) -Volkswagen’s cost-cutting programme in Germany, signed off with unions last December, has so far led to an average cut in factory costs of 13%, brand CEO Thomas Schaefer told the Financial Times at a conference on Tuesday. Managers and works council representatives recently reported progress towards cost-cutting targets at the carmaker’s first quarterly …
VW German cost-cutting drive has sunk factory costs by 13%, brand CEO tells FT Read More »
(Reuters) -British stocks ended mixed on Tuesday, as investors assessed a tick up in U.S. inflation data, while signs of a cooling UK labour market fuelled speculation over the Bank of England’s future rate decisions. The blue-chip FTSE 100 was nearly flat, while the domestically focused midcap index gained 0.6%. The U.S. consumer prices rebounded …
British stocks mixed as investors assess US inflation, UK labour market report Read More »
(This May 12 story has been corrected to say Anheuser-Busch plans to start a new facility, not a plant, in Columbus, Ohio, in paragraph 2) (Reuters) – Anheuser-Busch InBev said on Monday it would invest $300 million in its manufacturing operations in the United States this year amid a push for local production under President …
Budweiser-maker AB InBev to invest $300 million in US facilities (May 12) Read More »
PARIS (Reuters) -Gucci-owner Kering has seen a stark decline of demand for its luxury and fashion goods in the United States, its Chief Executive Francois-Henri Pinault told French senators at a parliamentary hearing on Tuesday. “The drop in consumption, which has been going on for several weeks now, is quite strong”, Pinault said. Kering last …
Kering facing drop in U.S. consumption, CEO says Read More »
MADRID (Reuters) -The head of Spain’s antitrust watchdog said on Tuesday the country’s banking sector would still be competitive after BBVA’s proposed acquisition of Sabadell thanks to the presence of other lenders such as Caixabank. The Spanish government opposes BBVA’s hostile takeover bid, currently worth around 14 billion euros ($15.55 billion) and rejected by Sabadell …
Spain’s antitrust watchdog says BBVA-Sabadell deal won’t make market uncompetitive Read More »
MILAN (Reuters) -Italy’s biggest phone group Telecom Italia (TIM) is considering adding insurance, digital payments and energy to its business as described in its bylaws ahead of expanding the offering of those services, two sources told Reuters. Having sold its prized landline grid, TIM, the heir to Italy’s phone monopoly, is looking to reshape its …
By Sam Tabahriti LONDON (Reuters) -British defence minister John Healey on Tuesday announced new measures aimed at boosting small and medium-sized enterprises in the defence sector, including reforms to speed up procurement and encourage investment in emerging technologies. Prime Minister Keir Starmer’s government is looking to distribute the economic benefits of an increase in defence …
UK unveils growth package for defence SMEs to boost innovation Read More »
By Dan Catchpole SEATTLE (Reuters) -Boeing said on Tuesday it delivered 45 commercial jets in April, nearly twice the 24 airplanes it delivered during the same month a year ago. Aircraft deliveries are closely tracked by Wall Street because planemakers collect the majority of their payment when they hand over jets to customers. Years of …
