By Linda Pasquini and Elizaveta Gladun (Reuters) -German sportswear maker Puma said on Wednesday it expected second-quarter sales to grow at a low- to mid-single-digit percentage rate, below its full-year target, due to high inventory levels as persistently high inflation blunts demand. However, the firm beat first-quarter revenue expectations, saying strong growth globally, including Greater…
LONDON (Reuters) – British retail sales inched higher in April, although most shop chains do not foresee a lasting improvement, an industry survey showed on Wednesday. The Confederation of British Industry’s monthly retail sales balance rose to +5 in April from +1 in March, its highest level this year. Expectations for May were slightly negative,…
COPENHAGEN (Reuters) -The world’s biggest lockmaker Assa Abloy on Wednesday posted a higher than expected first-quarter operating profit after a “very strong” start to the year and said it would raise prices again to offset inflationary pressure. Operating profit at the Swedish group fell to 3.96 billion crowns in the first three months of the…
BUDAPEST (Reuters) – Price caps to curb surging inflation and windfall taxes imposed by Hungary’s government have hurt sentiment among German firms in the country, a business survey showed on Wednesday. Germany is Hungary’s biggest foreign investor, giving the survey by the German-Hungarian Chamber of Industry and Trade extra resonance. It showed the assessment of…
BERLIN (Reuters) – Germany expects to post a deficit of 4.25% of gross domestic product (GDP) in 2023, up from a 2.6% deficit the previous year, according to finance ministry calculations published on Wednesday. Overall, the deficit is projected to be gradually reduced to about 0.75% of GDP by 2026. “In the crises of the…
A look at the day ahead in U.S. and global markets from Mike Dolan Just as markets were getting all antsy again about regional U.S. banks, Big Tech mega caps seem to have calmed the investment world with cloud-covered earnings beats and giddy talk of the quantum leap in artificial intelligence. After Tuesday’s bank stress…
WARSAW (Reuters) – Microsoft will build a data centre in Poland, the company’s President for Europe, the Middle east and Africa (EMEA) said on Wednesday at the European Economic Congress in the southern city of Katowice. (This story has been corrected to say that the data centre has been launched, instead of that it will…
By Tim Hepher PARIS (Reuters) -French aero engine maker Safran unveiled stronger than expected quarterly revenues on Wednesday, buoyed by a swift recovery in air travel, but predicted problems with aviation’s supply chain could drag into next year. “The (pandemic) demand crisis is well and truly behind us,” Chief Executive Olivier Andries said after reporting…
By Mike Dolan LONDON (Reuters) – Growing wealth inequality and rise of the digital economy may well have combined to undermine the entire banking system – in an intriguing connection that potentially helps tie up some loose ends in world markets. Many investment strategists have for years seen the ebb and flow of world liquidity…
LONDON (Reuters) -Canadian miner Teck Resources, the target of an unsolicited takeover bid by Glencore, narrowly missed first-quarter estimates on Wednesday, hit by lower prices, weak copper and zinc sales and higher expenses. Teck reported adjusted profit of C$1.81 per share for the three months to March 31, compared with an average analyst estimate of…
