Shares of French luxury group Kering sank more than 9% Wednesday after the company warned it expects a sharp downturn in first-half profits as demand for its Gucci brand continues to wane.
Kering braces for a profit slump in the first half of the year as the French luxury goods giant struggles to win back Gucci sales.
But there is talk that a predator rather than rescuer could emerge. Gucci is one of two brands most coveted by Bernard Arnault, boss of LVMH.
Mounting competition in the stuttering electric vehicle market is taking the juice out of Tesla. The automaker's first-quarter profit plummeted 55% as falling global sales and price cuts sliced into the EV maker's revenue and earnings. The company said Tuesday it made $1.13 billion in profit from January through March, compared with $2.51 billion in the same period a year ago. Revenue was $21.3 billion, down 9% from last year, the company said.Tesla executives blamed the dip partly on EV sales...
Amid the semiconductor industry’s slowdown and increasing geopolitical tensions, Dutch chip machine-maker ASML reported a decrease both in sales and profits. Europe’s most valuable tech company saw orders fall to €3.6bn in the first quarter of 2024, down from €9.2bn in the previous quarter. Its net profit also dropped to €1.2bn — a 37% decrease compared to Q4 2023. “We see 2024 as a transition,” ASML's President and CEO Peter Wennink said in a statement. Wennink expects a stronger...
Shares in the boot maker fell 29.4% as the group said it faced another tough year in the US and revealed its chief executive was stepping down.
Read the full story: https://sc.mp/nzev7 Residents in the southern Chinese province of Guangdong have been placed on high alert for “once in 50 years” river levels
According to the heartbroken dog-dad, 'poison' had been deliberately scattered around the Staffordshire neighbourhood before his dogs found it while out walking.
U.S. Secretary of State Antony Blinken met Friday with Chinese President Xi Jinping and senior Chinese officials, stressing the importance of “responsibly managing” the differences between the United States and China as the two sides butted heads over a number of contentious bilateral, regional and global issues. Talks between the two sides have increased in […]
SIOUX CITY, Iowa (KCAU) — UPDATE (4:43 PM) – The National Weather Service
Ericsson has reported its first-quarter financialsRevenues are down by 14% year on year as network operators continue to hold back on investmentsThe Swedish ve
Schools in different parts of the country sent messages to parents via the Wilma messaging system, urging them to discuss the matter with their children.