Month: November 2019

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UPDATE 1-North America helps lift Securitas profit, offsetting Europe wage costs

November 6, 2019 admin Comments Off on UPDATE 1-North America helps lift Securitas profit, offsetting Europe wage costs

Securitas, the world’s biggest security services group, reported a rise in third-quarter profit as improved margins in North America helped offset wage cost pressure in Europe and said it outgrew the market in the first nine months. Operating profit grew to 1.4 billion Swedish crowns ($149.2 million) from a year-ago 1.1 billion, roughly matching a mean forecast in a Refinitiv poll of analysts. The operating margin in North America widened to 6.7% from 6.5% while in Europe it shrank slightly to 5.9% from 6.0% on some wage pressure, with salary increases not fully offset by price increases in …read more […]

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European Banking Integration Gets Boost in New Push From Berlin

November 6, 2019 admin Comments Off on European Banking Integration Gets Boost in New Push From Berlin

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Germany’s finance ministry sought to break the deadlock in discussions over European banking integration by signaling it may drop its opposition to a key part of the plan.Berlin is ready to consider a form of joint European deposit insurance, something that would stabilize the financial system by reducing the risk of bank runs, according to a finance ministry paper published on Wednesday. That part of the plan has stalled, facing strong resistance from fiscally conservative countries and some parts of the German …read more […]

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Mitsubishi Motors Slashes Profit Outlook by $550 Million

November 6, 2019 admin Comments Off on Mitsubishi Motors Slashes Profit Outlook by $550 Million

(Bloomberg) — Mitsubishi Motors Corp. slashed its annual profit and sales outlook, becoming the latest Japanese automaker hit by sputtering global demand and a stronger yen.Operating profit for the fiscal year through March 2020 will be 30 billion yen ($275 million) instead of 90 billion yen, the company said in a statement Wednesday, citing decreases in wholesale volumes and the impact of currency swings that erode income brought home. The revenue outlook for the period was cut 5% to 2.45 trillion yen.The gloomy outlook underscores the challenges facing other Japanese carmakers, including Toyota Motor Corp., which reports results Thursday, as …read more […]

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German chemicals industry sees no reason for optimism after Q3 revenues drop

November 6, 2019 admin Comments Off on German chemicals industry sees no reason for optimism after Q3 revenues drop

German chemicals association VCI on Wednesday said it saw no positive signals for the chemical industry after reporting a 2.4% drop in third-quarter revenues, citing a weakening auto market, a drop in domestic orders and sluggish global growth. “The situation for the chemical industry is not easy,” VCI President Hans Van Bylen said. Production in the chemical and pharmaceutical industries, which are significant contributors to Germany’s gross domestic product, fell 0.6% in the third quarter of the year, VCI said, adding that falling prices weighed on third-quarter revenues. …read more […]