corporate-strategy
Top StoriesBmw Quarterly Profit Misses Expectations Due to Weak China Sales, Brake Issues
BusinessBarry Callebaut Sees a Second Year of Flat Sales Volumes on High Cocoa Prices
BankingCommerzbank Seeks to Fend Off UniCredit as Both Banks Hike Targets
FinanceGermany’s Fresenius Raises 2024 Forecast After Q3 Beat, Shares Rise
Evonik’s Cost Cuts Help It Beat Q3 Core Profit Expectations
Date: November 6, 2024
(Reuters) – German chemicals group Evonik Industries reported third-quarter core profit above market expectations on Wednesday, and said its initiatives to cut costs and build a leaner organisation were paying off. Evonik posted a 19% rise in quarterly adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to 577 million euros ($622 million), beating analysts’...
Germany’s TeamViewer Trims Revenue Forecast on Fx Headwinds
Date: November 6, 2024
(Reuters) – German software developer TeamViewer lowered its full-year revenue outlook on Wednesday, citing that foreign exchange headwinds from 2023 billings could likely have a negative impact of up to 11 million euros ($11.84 million). The company, which specialises in cloud-based technologies, now expects its revenue to hit 662 million euros-668 million euros, from a...
Burberry’s New CEO Faces Outlet Store and Pricing Dilemmas
Date: November 5, 2024
By Helen Reid and Mimosa Spencer LONDON/PARIS (Reuters) – Burberry’s new CEO Joshua Schulman faces an uphill task to turn around the British luxury brand whose sales have declined sharply while its share price has dropped 40% this year, stoking speculation it could be a takeover target. The luxury sector as a whole has been...
French Supermarket Group Auchan Planning to Cut More Than 2,000 Jobs, Media Reports Say
Date: November 5, 2024
PARIS (Reuters) – French supermarket retailer Auchan is planning to cut more than 2,000 jobs, reported BFM TV, France 2 TV and newsletter La Lettre on Tuesday, citing trade unions. Officials at Auchan could not be immediately reached for comment on the reports. (Reporting by Sudip Kar-Gupta; Editing by Tom Hogue)...
French IT Firm Atos Agrees to Sell Worldgrid Unit to Alten
Date: November 5, 2024
PARIS (Reuters) – Atos said on Tuesday it had signed an agreement to sell its Worldgrid business unit to Alten for 270 million euros ($293.7 million) on an enterprise value basis, in a transaction expected to close before end-2024. The agreement comes as France boosts its efforts to protect Atos, a struggling software company that...
Anglo American to Sell Stake in Australian Steelmaking Coal Mines for $1.1 Billion
Date: November 4, 2024
(Reuters) – Anglo American said on Monday that it will sell its minority stake in a joint venture that owns a 70% interest in the Jellinbah East and Lake Vermont steelmaking coal mines in Australia for A$1.6 billion ($1.06 billion). ($1 = 1.5156 Australian dollars) (Reporting by Prerna Bedi in Bengaluru; Editing by Sonia...