market-conditions
Top StoriesEricsson Says Telecoms Uncertainty to Persist Into 2024, Shares Fall
Top StoriesUK’s Ig Group Ekes Out Revenue Rise From Interest Income, U.S. Trading
Top StoriesArcelorMittal Cuts Steel Demand Forecast, Beats Profit Expectations
Top StoriesUber to Cease Food Delivery in Italy, Exit Israel
UK Auto Industry Body Says New Car Sales Rise in May, but Below pre-COVID Level
Date: June 5, 2023
(Reuters) – Britain’s new car sales still below pre-pandemic level despite a rise it witnessed in May from a year earlier, according to the preliminary industry data released by the Society of Motor Manufacturers and Traders (SMMT) on Monday. The SMMT will provide the final figures for the month at 0900 GMT. (Reporting by...
Jewellery Maker Pandora to Slow Down Brand Relaunch in China
Date: May 3, 2023
Jewellery maker Pandora to slow down brand relaunch in China COPENHAGEN (Reuters) – Danish jewellery maker Pandora will slow down a planned country-wide relaunch of its brand in China as customer demand has yet to recover to pre-pandemic levels, the company’s CEO said on Wednesday. Pandora sees China as a potential driver of future growth,...
Beiersdorf Benefits From Bump in Nivea Sales
Date: April 26, 2023
Beiersdorf benefits from bump in Nivea sales (Reuters) -Beiersdorf’s Nivea brand recorded 18% sales growth in the first quarter of 2023 thanks to price hikes, the German firm said on Wednesday, confirming higher sales across its business year-on-year. Its Tesa segment eked out organic of 0.9% in the quarter. Sales to the automotive industry rose...
HelloFresh Sees 2023 Core Profit of 460-540 Million Euros
Date: March 7, 2023
(Reuters) – German meal-kit maker HelloFresh forecast a higher 2023 core profit on Tuesday, as it focuses on strengthening its customer offer despite cost pressures. It sees adjusted core profit (AEBITDA) of between 460 million and 540 million euros ($491.60 million-577.10 million) in 2023. The guidance midpoint of 500 million euros compares with AEBITDA of...
Tesla Cuts U.S. Model S and Model X Prices Between 4% and 9%
Date: March 6, 2023
(Reuters) -Tesla Inc has cut prices on its two most expensive electric vehicles in the United States, according to the company’s website, days after Chief Executive Elon Musk said recent price cuts on other models had stoked demand. The price cuts, Tesla’s fifth adjustment since the start of the year, ranged from 4% on the...
Puma Expects Cost Pressure on Margins to Persist in 2023
Date: March 1, 2023
By Linda Pasquini (Reuters) -German sportswear maker Puma on Wednesday gave a forecast for 2023 profit with a midpoint below last year’s number, expecting some impact from currency effects and higher freight and raw material costs. Rising materials and freight costs along with a stronger U.S. dollar, inventory markdowns and higher promotion expenses have pressured...