Town Hall News

(Refiles to fix story formatting) By Matteo Allievi and Victor Goury-Laffont (Reuters) – French IT consulting group Capgemini on Thursday reported weaker revenue growth in the first quarter of 2023, compared with the year-ago period, citing a tense economic environment with clients adopting a “wait-and-watch stance”. Still, the company’s quarterly revenue reached 5.73 billion euros ($6.35 billion), 10.9% above the first three months in 2022. Cloud services for years have […]

LONDON (Reuters) – Goldman Sachs said on Thursday it was “cautious” on Turkish banks heading into the May 14 election, with lenders more vulnerable than the country’s other stocks to a potential post-vote rate hike following years of unorthodox monetary policy. Polls show President Tayyip Erdogan risks losing the landmark election largely due to a cost-of-living crisis that has seen inflation soar to more than 85% last year amid ultra-lose […]

By Sinead Cruise, John O’Donnell and Tom Sims LONDON/DUBLIN (Reuters) – European savers are pulling more of their money from banks, looking for a better deal as lenders resist paying up to hold on to deposits some feel they can currently live without. The trend emerged as some of the region’s biggest lenders outlined a profitable start to the year in results that also offered a glimpse of a phenomenon […]

By Sinead Cruise, John O’Donnell and Tom Sims LONDON/DUBLIN (Reuters) – European savers are pulling more of their money from banks, looking for a better deal as lenders resist paying up to hold on to deposits some feel they can currently live without. The trend emerged as some of the region’s biggest lenders outlined a profitable start to the year in results that also offered a glimpse of a phenomenon […]

NAIROBI (Reuters) – The U.N. World Food Programme has paused food distribution in Ethiopia’s Tigray region and will not resume until it can ensure the aid will reach the intended recipients, the agency said, citing reports that significant aid was being diverted. The announcement follows a similar one by the U.S. Agency for International Development, which said on Wednesday it had discovered that food intended for people in Tigray, which […]

(Reuters) – Satellite firm SES on Thursday reported first-quarter earnings above market expectations, and said it is on track to deliver on its full-year outlook. It also confirmed its schedule for both the O3b mPOWER and U.S. C-band projects. One of the world’s biggest commercial satellite operators, the Luxembourg-based company said first-quarter adjusted core earnings (EBITDA) fell 3.2% year-on-year to 265 million euros ($293.57 million), but that still above 255 […]

BERLIN (Reuters) – BMW reported on Thursday an earnings margin of 12.1% in the first quarter of 2023 for its cars segment, up from 8.9% a year earlier, confirming its outlook for 2023 but warning of ongoing high costs and rising competition particularly in China. The carmaker attributed a drop in group earnings before tax – to 5.1 billion euros ($5.65 billion) from 12.2 billion last year – to the […]

BERLIN (Reuters) -Volkswagen reported a rise in revenue of 22% to 76 billion euros ($84.22 billion) but saw a drop in operating profit to 5.7 billion euros, after last year’s first quarter profit was boosted by commodity hedging. The carmaker said the rise in revenue was attributed largely to strong growth in Europe and North America, and said its order book in western Europe totalled 1.8 million vehicles, including 260,000 […]

BERLIN (Reuters) – German chipmaker Infineon raised its full-year guidance for revenues and profitability on Thursday, citing strong demand from the electromobility, renewable energy generation and energy infrastructure sectors. It now sees full-year revenues of 16.2 billion euros ($17.96 billion)- plus or minus 300 million – compared with its previous forecast for 15.5 billion. ($1 = 0.9021 euros) (Reporting by Maria Sheahan, editing by Kirsti Knolle) Brought to you by […]