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Factbox-Top 20 global family-owned retail businesses
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Sweden’s Northvolt appoints restructuring expert to oversee main facility -report
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Discounter Lidl to step up UK store openings
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Cinven secures Italian nod to sell minority stake in Synlab to Labcorp
VW plans for factory closures cross several red lines, works council chief says
Date: November 20, 2024
WOLFSBURG/BERLIN (Reuters) – Volkswagen is planning to shut factories in every scenario presented to labour representatives, putting both factions on collision course in a dispute over pay and jobs, and raising the spectre of strikes. Daniela Cavallo, speaking a day ahead of a third round of negotiations between VW management and unions, said the proposals...
Nokia wins ‘multi-billion’ dollar deal in India
Date: November 20, 2024
HELSINKI (Reuters) – Finnish telecom equipment supplier Nokia on Wednesday said it had won a “multi-billion” dollar deal with India’s Bharti Airtel for delivery of 4G and 5G equipment. Sources familiar with the talks told Reuters last month Nokia and Bharti were nearing a deal worth several billion dollars to expand Bharti’s network in India....
Ninety One enters partnership with Sanlam, assets rise 1%
Date: November 20, 2024
LONDON (Reuters) – Asset manager Ninety One has entered an investment partnership with South African life insurer Sanlam, it said on Wednesday, as it recorded a 1% rise in assets in the first half to 127.4 billion pounds ($161.85 billion). Ninety One will gain preferred access to Sanlam’s distribution network and become its primary active...
STMicroelectronics delays long-term targets to 2030
Date: November 20, 2024
(Reuters) -STMicroelectronics (ST) pushed back its long-term financial forecasts on Wednesday, following three guidance cuts this year, amid a slump in markets for the industrial and automotive chips it makes. ST, one of Europe’s largest semiconductor firms, said it aimed to hit annual revenue of $20 billion and an operating margin above 30% by 2030,...
Exclusive-In high-wage Germany, VW’s labour costs outstrip the competition
Date: November 20, 2024
By Victoria Waldersee and Christoph Steitz BERLIN/FRANKFURT (Reuters) – As Volkswagen and unions gear up for the next round of talks over wages and plant closures in Germany, company and industry data reviewed by Reuters show that the automaker spends a higher proportion of sales on labour costs than major rivals. The data, in an...
Nokia’s US shares rise after T-Mobile says no plans to stop partnership
Date: November 20, 2024
(Reuters) – U.S.-listed shares of Nokia jumped around 5% in extended trading on Tuesday after T-Mobile said it has no plans to stop working with the Finnish company in a response to an analyst report claiming such a possibility. Nokia shares closed down around 7% after Earl Lum of EJL Wireless Research said in a...