corporate-strategy
BankingEurope’s Banks Brace for Tougher Competition Under Trump 2.0
BusinessMoncler Repeats It Won’t Comment on ‘unsubstantiated Rumors’ About Burberry
BusinessFonterra Raises Milk Price Forecast and Confirms Plans to Exit Consumer-Facing Business
BankingEurope’s Banks Brace for Tougher Competition Under Trump 2.0
Stellantis to Lay Off 400 Workers at Detroit Parts Facility
Date: November 9, 2024
By Nora Eckert DETROIT (Reuters) -Stellantis added to its rising tally of layoffs on Friday, saying 400 workers at a Detroit automotive parts facility would indefinitely lose their jobs as the carmaker reduces costs in its struggling North American business. “As Stellantis navigates a transitional year, the focus is on realigning its U.S. operations to...
Portugal Targets 2025 Tap Sale as More Than 12 Potential Buyers Show Interest
Date: November 9, 2024
By Sergio Goncalves LISBON (Reuters) – Portugal’s government plans to resume the sale of flag carrier TAP in 2025, the country’s infrastructure minister said, after receiving interest from more than a dozen potential buyers. A previous Socialist administration approved the privatisation of at least 51% of TAP in September 2023, but the sale did not...
German Arms Group Rheinmetall Targets Record Sales as Political Landscape Shifts
Date: November 8, 2024
By Matthias Inverardi and Miranda Murray BERLIN (Reuters) -Germany’s Rheinmetall, boosted by the lift in European defence spending sparked by the Ukraine war, on Thursday said political shifts in the United States and Germany would not affect its path to record growth. Shares in Rheinmetall were up 7.83% at 1431 GMT and on track for...
Under Armour Lifts Profit Forecast on Cost Savings, Shares Surge
Date: November 8, 2024
By Ananya Mariam Rajesh (Reuters) -Under Armour shares shot up 20% on Thursday as the sportswear maker raised its annual profit forecast, betting on lower input costs and cost-saving strategies such as fewer discounts at its own stores and website. Following several quarters of poor results, company founder Kevin Plank returned as CEO to reset...
Nissan to Axe 9,000 Jobs, Cut Production on Weak China, US Sales
Date: November 7, 2024
By Daniel Leussink TOKYO (Reuters) -Nissan Motor will cut 9,000 jobs and 20% of its global manufacturing capacity, the automaker said on Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.S. The plans underline the vulnerability of Japan’s third-largest automaker,...
Iveco to Accelerate Cost Cutting Plans as Q3 Operating Profit Drops 13%
Date: November 7, 2024
By Giulio Piovaccari MILAN (Reuters) -Iveco Group said on Thursday it would accelerate plans to cut costs and improve efficiency as it reported a 12.6% decline in its third-quarter operating profit due to a decline in heavy duty truck and bus volumes in Europe. Shares in the company were up 6.7% by 1015 GMT, among...