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Volvo Cars seeks to oust Northvolt from EV battery venture
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UK’s Reeves raises employers’ National Insurance Contributions
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Outokumpu warns of worsening steel markets after Q3 profit beat
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Amplifon trims margin forecast as higher marketing costs weigh
Prada’s third quarter revenues up 17.7%, Miu Miu sales double
Date: October 30, 2024
MILAN (Reuters) – Third-quarter net revenues for Prada rose 17.7% at constant exchange rates, driven by double-digit retail sales growth in Asia and Europe and by the doubling of sales at the smaller Miu Miu brand, the Italian luxury group said on Wednesday. The main brand Prada reported a 1.7% increase in retail sales in...
Airbus delivers first A321XLR in new front against Boeing
Date: October 30, 2024
By Tim Hepher PARIS (Reuters) – Airbus has delivered its first A321XLR jet to Spain’s Iberia, the European planemaker said, stepping up a battle with Boeing in the middle of the jet market. The plane, which took five years to develop and targets a market previously served by Boeing’s out-of-production 757 or larger wide-bodies, was...
Top Chinese airlines’ profits fall as flagging economy pressures fares
Date: October 30, 2024
By Lisa Barrington and Sophie Yu SEOUL/BEIJING (Reuters) – China’s top three state-owned airlines reported profit declines in the third quarter despite record summer passenger numbers and fuller planes than last year, as a slowdown in domestic economic growth pushes flyers to seek cheaper fares. Beijing-headquartered Air China on Wednesday reported a net profit of...
Estee Lauder names insider de La Faverie as new CEO to kickstart turnaround
Date: October 30, 2024
(Reuters) -Estee Lauder named insider Stephane de La Faverie its new CEO on Wednesday, as the company looks to revamp its business amid falling demand for cosmetics and premium fragrances with consumers getting picky with their spending. De La Faverie, currently the cosmetic giant’s executive group president, oversees high-end fragrance brands such as Jo Malone...
BASF sees 2024 profit at lower end of range on weaker auto, agriculture demand
Date: October 30, 2024
By Ludwig Burger and Patricia Weiss FRANKFURT (Reuters) -BASF on Wednesday predicted full-year earnings growth at the lower end of its target range on weaker demand for its chemicals and plastics, making it the latest German industrial heavyweight to come under pressure from the country’s weak economy. The chemicals maker said 2024 earnings before interest,...
Virgin Money UK picks insider Gergely Zaborszky as next CFO
Date: October 30, 2024
(Reuters) – British lender Virgin Money UK said on Wednesday that insider Gergely Zaborszky would take on the role of its CFO, after current finance boss Clifford Abrahams leaves the company in December. Abrahams will stay with the company until Dec. 15, and Zaborszky, who currently heads FP&A and Capital Management at Virgin Money, will...