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Vodafone to axe 11,000 jobs, sees flat FY as new CEO slams firm
Telecoms giant Vodafone said it was cutting 11,000 jobs and expected to post flat earnings next year after reporting a decline in annual profits in a performance described as “not good enough” by its chief executive.
Europe midday: China data, German ZEW hit sentiment
European markets opened slipped into the red on Tuesday as weaker-than-expected China data and downbeat consumer sentiment in German hit trade.
Europe open: Shares edge ahead as weak China data mutes sentiment
European markets opened slightly higher on Tuesday as weaker-than-expected China data prompted fears that the post Covid recovery in the world’s second-largest economy was losing steam.
Essentra holds guidance despite 9% fall in sales
Components maker Essentra on Tuesday held annual guidance, despite sales falling 9% in the four months to May 6, as supply chain improvements and signs of a rebound in China helped orders.
China slowdown fears as ind production, retail sales miss forecasts
Chinese industrial production and retail sales both grew less than expected, according to official data, fuelling worries that the post-Covid rebound expected to drive the global economic rebound was running out of steam.
Greggs sees rise in sales despite pressure on customers
UK high street food chain Greggs has forecast a strong growth in demand this year, driven by new products such as chicken goujons and potato wedges despite cost inflation and pressure on customers.