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Alstom to cut 1,500 staff, sell assets
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +1 min
A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File Photo Acquire Licensing RightsNov 15 (Reuters) - Alstom (ALSO.PA) on Wednesday said it would cut jobs, sell assets and was considering a capital increase in a bid to boost its balance sheet and alleviate investor concerns over high debt. The maker of France's iconic TGV trains said it aimed to cut about 1,500 staff to help meet its confirmed mid-term targets. Alstom plans to cut its net debt by 2 billion euros ($2.2 billion) by March 2025. As of Sept. 30, it had a net debt of 3.43 billion euros.
Persons: Regis, Henri Poupart, Lafarge, Philippe Petitcolin, Safran, Olivier Sorgho, Milla Nissi, Silvia Aloisi Organizations: Alstom, REUTERS, Traders, Thomson Locations: Semeac, Tarbes, France, Gdansk
Richemont's constant currency sales growth eased from a 19% rate in the April to June period to a 5% rate in the following three months. The company posted a profit of 1.51 billion euros, worse than the 2.17 billion euros forecast by analysts in a consensus cited by Zuercher Kantonalbank. "Growth eased in the second quarter as inflationary pressure, slowing economic growth and geopolitical tensions began to affect customer sentiment, compounded by strong comparatives," said Chairman Johann Rupert in a statement. "Consequently, we have seen a broad-based normalisation of market growth expectations across the industry." While jewellery - traditionally more resilient to economic swings - continued to shine with constant currency sales up 9%, watch sales fell 4%.
Persons: Regis, Cartier, Vacheron Constantin, LVMH, Zuercher Kantonalbank, Johann Rupert, Kepler, Jon Cox, John Revill, Mimosa, Miranda Murray, Shri Navaratnam, Tomasz Janowski Organizations: Cartier, Vendome, REUTERS, Rights, IWC, Thomson Locations: Paris, France, Swiss, United States, Europe, China
The logo of IndiGo Airlines is pictured on passenger aircraft on the tarmac in Colomiers near Toulouse, France, July 10, 2018. REUTERS/Regis Duvignau//File Photo Acquire Licensing RightsBENGALURU, Nov 3 (Reuters) - India's biggest airline IndiGo said on Friday it would lease new planes and extend agreements on some older ones to offset the disruption from new problems with Pratt & Whitney engines. IndiGo has retained 14 of its older Airbus A320ceo, extended leases on 36 other aircraft, and is taking 11 additional aircraft on lease starting November. The company is in talks with Pratt & Whitney for compensation over engine issues and expected payments to be staggered, he said. Close to 40 IndiGo planes are currently grounded due to older issues with Pratt & Whitney engines and the airline is yet to ascertain the number of groundings from the new problems.
Persons: Regis Duvignau, Pratt & Whitney, IndiGo, Pieter Elbers, Gaurav Negi, Negi, Aditi Shah, Nandan, Shounak Dasgupta, Mark Potter Organizations: IndiGo Airlines, REUTERS, Rights, India's, IndiGo, Pratt & Whitney, Pratt &, Airbus, Thomson Locations: Colomiers, Toulouse, France, India, New Delhi, Bengaluru
A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018. REUTERS/Regis Duvignau Acquire Licensing RightsCHICAGO, Oct 20 (Reuters) - Spirit Airlines (SAVE.N) on Friday said it has canceled a portion of its scheduled flights to perform a "necessary" inspection of a small section" of 25 planes. The ultra-low-cost carrier did not provide details of the inspections. "We apologize for the inconvenience and are working to take care of affected guests," Spirit said in a statement. Data from flight-tracking website FlightAware shows that the airline had canceled 11% of its flights on Friday.
Persons: Regis Duvignau, Rajesh Kumar Singh, Leslie Adler Organizations: Spirit Airlines, Airbus, REUTERS, Rights, Thomson Locations: Colomiers, Toulouse, France
Bottles of Ricard's aniseed-flavoured beverage are pictured at the Ricard manufacturing unit in Lormont, near Bordeaux, France February 15, 2019. REUTERS/Regis Duvignau/File Photo Acquire Licensing RightsPARIS/LONDON, Oct 19 (Reuters) - French spirits maker Pernod Ricard (PERP.PA) said on Thursday it expected to grow sales over the coming year, despite a difficult first quarter marred by big drops in sales in the United States and China. Pernod struggled as a tough economy in China dampened demand and amid inventory adjustments in the United States, where sales are also normalising after a post-COVID surge. "I am confident that we can deliver broad-based and diversified sales growth in FY24," Ricard said in a statement. But, he continued, it's not clear to what degree there will have been improvement in the economic environment hurting Pernod's performance right now.
Persons: Regis, Pernod Ricard, PERP.PA, Pernod, Alexandre Ricard, Ricard, Martell, Mumm, Pernod's, Bernstein, Trevor Stirling, it's, Helene de Tissot, Dominique Vidalon, Emma Rumney, Sherry Jacob, Phillips, Mark Potter Organizations: Ricard, REUTERS, Diageo, Thomson Locations: Lormont, Bordeaux, France, LONDON, United States, China, India, Americas, Paris, London
[1/2] A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. The shares were heading for their worst one-day drop in over 20 years as of 1140 GMT, down 37%, which wiped some 3 billion euros ($3.16 billion) from Alstom's market value. The group said it now expects a cash outflow of 500-750 million euros over the full year, after a preliminary first-half outflow of 1.15 billion euros, well above the consensus for a 152 million euro outflow cited by Jefferies. The cost of insuring Alstom's debt against the risk of default shot to its highest since last November, according to data from S&P Global Market Intelligence. Citi analysts were less concerned about liquidity, but said "the past track record on cash means cash improvement is now very much a 'show me' story".
Persons: Regis Duvignau, Jefferies, Angelo Meda, JP Morgan, Olivier Sorgho, Danilo Masoni, Chiara Elisei, Amanda Cooper, Alexander Smith Organizations: Alstom, REUTERS, Banor SIM, Deutsche Bank, P Global Market Intelligence, Traders, Citi, Thomson Locations: Semeac, Tarbes, France, Paris, Milan, Britain
France's own hefty nuclear power sector - which generates over 60% of the country's electricity - is clearly a key beneficiary of the allowances made by lawmakers as part of the deal which aggressively lifts EU renewable energy usage targets. But all of Europe's nuclear power producers may get a lift from the new deal, which allows for certain non-emitting nuclear facilities to bypass rules relating to hydrogen production. In addition, the EU's apparent acceptance that nuclear power is a key source of low-carbon energy will likely further shore up support for nuclear power. Beyond France, several European countries rely on nuclear power to generate a substantial share of electricity, including Sweden, Spain, Switzerland, Finland, Belgium and Bulgaria. The nuclear sector still has plenty of opponents, who point to decades-long construction times and multi-billion dollar price tags as key reasons why cheaper and quicker-to-build renewable sources may be a better fit for Europe's energy needs.
Persons: Regis, France's, Gavin Maguire, Stephen Coates Organizations: REUTERS, European Union, Beyond, Reuters, Thomson Locations: Agen, Toulouse, France, LITTLETON , Colorado, Europe, Ukraine, Beyond France, Sweden, Spain, Switzerland, Finland, Belgium, Bulgaria, Italy, Germany
REUTERS/ Regis Duvignau/File Photo Acquire Licensing RightsPARIS, Sept 12 (Reuters) - Apple must stop selling its iPhone 12 model in France due to above-threshold radiation levels, France's junior minister for the digital economy told newspaper Le Parisien in an interview published on Tuesday. France's radiation watchdog ANFR notified Apple of its decision to ban iPhone 12 sales after it had carried out tests which showed the smartphone's Specific Absorption Rate (SAR) was slightly higher than legally allowed, Jean-Noel Barrot told the paper. Barrot said a software update would be sufficient to fix the radiation issues linked to the phone which the U.S. company has been selling since 2020. The French watchdog will now pass on its findings to regulators in other EU member states. In 2020, France widened regulations requiring retailers to display the radiation value of products on packaging beyond cell phones, including tablets and other electronic devices.
Persons: Regis, Le, Jean, Noel Barrot, Barrot, Tassilo Hummel, Aurora Ellis Organizations: Apple, REUTERS, Rights, Le Parisien, U.S ., European Union, Thomson Locations: Lusignac, France, U.S
A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018. REUTERS/Regis Duvignau/File Photo Acquire Licensing RightsCompanies Spirit Airlines Inc FollowNEW YORK, Aug 24 (Reuters) - Spirit Airlines Inc (SAVE.N) has agreed to pay up to $8.25 million to settle a class action lawsuit by passengers who said the low-cost carrier blindsided them with surprise carry-on bag fees on tickets bought through third-party travel services. Like other low-cost airlines, Miramar, Florida-based Spirit relies on added fees to help make up for lower base fares. Plaintiffs in the 2017 lawsuit accused the carrier of advertising misleading low prices on travel websites that concealed the "gotcha" bag fees travelers would have to pay at the airport. The plaintiffs originally sought $100 million in punitive damages, though that was dropped from a later version of the lawsuit.
Persons: Regis, Brendan Pierson, Alexia Garamfalvi, Jonathan Oatis Organizations: Spirit Airlines, Airbus, REUTERS, Spirit Airlines Inc, Lawyers, Thomson Locations: Colomiers, Toulouse, France, Brooklyn, Expedia, Miramar , Florida, New York
Bottles of Coca-Cola are seen at a Carrefour Hypermarket store in Montreuil, near Paris, France, February 5, 2018. REUTERS/Regis Duvignau/File PhotoAug 9 (Reuters) - Bottler Coca-Cola HBC (CCH.L) beat half-year profit expectations and lifted its annual revenue target on Wednesday, supported by strong sales and higher prices of its drinks. Organic net sales revenue per case expanded by 19.0%, beating analysts' forecast of 17.4% in a poll compiled by the company. It still expects the negative impact from foreign currency exchange on the group's comparable operating profit to be between 50 million and 60 million euros ($55 million and $66 million) this year. HBC reported a comparable operating profit of 560.7 million euros for the six months through June, up 21.2% from a year earlier.
Persons: Regis, Zoran Bogdanovic, Radhika Anilkumar, Milla Nissi Organizations: Carrefour, REUTERS, Cola HBC, HBC, Analysts, Thomson Locations: Montreuil, Paris, France, Switzerland, Nigeria, Bengaluru
This account of how Niger's coup unfolded is based on 15 interviews with Nigerien security officials, politicians, as well as current and former Western government officials. In his first address following the July 26 coup, Tiani said he had ousted the president for the good of the country. But in recent months, Bazoum had curtailed the size of the presidential guard, which was about 700-strong at the time of the coup, and started to scrutinize its budget. Issoufou was elected in 2011, a year after a previous military coup. Almost all the different branches of Niger's security apparatus had a member in the group, including the police, army, air force and presidential guard.
Persons: Emmanuel Macron, Mahamadou Issoufou, Regis, Mohamed Bazoum, Bazoum, Abdourahamane Tiani, Tiani, Keen, Issoufou, Spokespeople, swirled, Salifou Mody, Mody, Hassoumi Massaoudou, Amadou Abdramane, Ahmad Sidien, Moussa Aksar, David Lewis, David Gauthier, Michel Rose, Edward McAllister, Alexandra Zavis, David Clarke Organizations: Niger, REUTERS, Nigerien, Reuters, West African States, Reuters Graphics Reuters, Western, Niger Armed Forces, United Arab Emirates, National Guard, Thomson Locations: Sahel, French, Pau, France, NIAMEY, United States, Niamey, Diffa, Niger, Mali, Burkina Faso, Russia, West Africa, Tiani, Nairobi, Villars, Istanbul, Paris, Dakar
A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018. Pratt & Whitney's new engine issue adds to headache for carriers that are already grappling with shortages of pilots, air traffic controllers and new planes, making it harder to add more flights. Spirit Airlines, which is the largest operator of GTF-powered NEO aircraft in the United States, previously cut 2023 capacity estimates due to unscheduled engine removals. Spirit, however, said RTX has promised to compensate the airlines affected by the new engine issue. Christie said Spirit has as many as 13 engines out of initial 200 identified by Pratt & Whitney for accelerated inspection.
Persons: Regis, Pratt, Ted Christie, Christie, RTX, Rajesh Kumar Singh, Mark Porter, Jonathan Oatis, Conor Humphries Organizations: Spirit Airlines, Airbus, REUTERS, Pratt & Whitney, Thomson Locations: Colomiers, Toulouse, France, United States, Florida
[1/2] A view shows the Ponte Vecchio bridge and the Arno River in Florence October 16, 2014. The Ponte Vecchio, or Old Bridge, crosses the River Arno at its narrowest point. REUTERS/Regis DuvignauROME, June 1 (Reuters) - Florence wants to ban residential properties in its historic centre from being used for short-term rentals by platforms such as Airbnb (ABNB.O) in order to free up more homes for local people in the Tuscan city. Nardella is a member of the centre-left Democratic Party (PD), which is part of the opposition at national level. Airbnb did not immediately comment on Nardella's initiative, but said in a statement that it wanted to see "clear and simple national rules" in Italy.
Persons: Regis Duvignau ROME, Dario Nardella, Federica Urso, Federico Maccioni, Keith Weir, Crispian Balmer Organizations: REUTERS, Democratic Party, Thomson Locations: Florence, Ponte, Tuscan, Nardella, Italy, Rome, Milan
The Nuclear Regulatory Commission (NRC) said the license authorizes private company Holtec to store 500 canisters holding nearly 8,700 metric tonnes of spent nuclear fuel from nuclear power plants for 40 years. Opponents of nuclear power say the government does not yet have a permanent fix for the waste that can be toxic for hundreds of thousands of years. It bans storage of the waste, until the state agrees to handle it and until the federal government figures out permanent storage. The Biden administration prefers a consent-based siting of nuclear waste facilities in which local communities are involved in the site selection process. The NRC issued a license in 2021 to Interim Storage Partners LLC for a proposed storage site in Andrews, Texas, but the company has not started construction.
[1/2] The logo of GoAir airline on an A320neo aircraft in Colomiers near Toulouse, France, November 15, 2019. REUTERS/Regis DuvignauBENGALURU, May 8 (Reuters) - Go Airlines (India) on Monday asked the country's company law tribunal to urgently pass an order on its insolvency plea, citing lessors' efforts to take back planes, per the court hearing. The push comes less than a week after the cash-strapped Indian airline filed for bankruptcy, blaming "faulty" Pratt & Whitney engines for the grounding of about half its fleet. On Monday, Go First lawyers told the tribunal to urgently pass an order on the airline's insolvency plea, saying its lessors had moved to repossess the planes even as bankruptcy proceedings were ongoing. Meanwhile, Pratt & Whitney told a New Delhi arbitrator hearing its dispute with Go that the Indian airline’s claim of defective engines causing its demise was “astounding” and without evidence.
[1/3] Logo of Air France KLM Group is pictured on the first Air France airliner's Airbus A350 during a ceremony at the aircraft builder's headquarters of Airbus in Colomiers near Toulouse, France, September 27, 2019. REUTERS/Regis DuvignauMay 5 (Reuters) - Air France-KLM (AIRF.PA) on Friday reported better-than-expected first-quarter revenue and robust cash flow as it benefited from a global recovery in air travel and strong summer ticket sales. The carrier's revenue grew 42% year-on-year to 6.33 billion euros ($6.97 billion), just above the 6.30 billion euros expected on average by analysts polled by the company. Air France-KLM said it did not see an impact from the cost- of-living crisis, pointing to more than 1.5 billion euros in ticket sales over the first quarter and to a strong demand across its network. Air France-KLM said the impact from French air-control strikes had been limited and was in the millions of euros, which it quantified as smaller than the impact from previous strikes.
[1/2] An Airbus A320neo aircraft is pictured during a news conference tin Colomiers near Toulouse, France, October 17, 2017. Airbus' defense portfolio includes the A400M and the C295, which are respectively larger and smaller than Embraer's KC-390. De La Vela said he sees potential collaborations emerging in areas such as unmanned aircraft and space technologies, including for new products, adding that he would like to hear from Embraer before elaborating. De La Vela said Airbus expects the Brazilian MRTTs to open the Latin American market for the aircraft, noting talks with four other undisclosed countries in the region were underway. Reporting by Gabriel Araujo and Rodrigo Viga Gaier; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.
Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC), Telecom Italia (TLIT.MI) and other operators have long lobbied for a Big Tech contribution and have found an ally in Breton, a former chief executive at Orange. These companies account for more than half of data internet traffic, according to telecom operators. Adriaansens said the Dutch government had commissioned a study by economic consultancy Oxera which showed the drawbacks of such a tax. "I think that there is this concern that our infrastructure is not able to meet our expectations and our ambitions. According to Oxera's study, Europe's telecoms providers have not been burdened with higher network costs despite the strong growth in internet data traffic.
watch nowNot all software updates offer an array of new features, but when they do it can feel like you are getting a new phone without added cost. Yet, many users still do whatever they can to put off the 30 minutes that a software update can take. Discomfort often stems from the perception that software updates will require users to relearn how to use certain features on their device and threatens their current habits. When 30 days have passed, the system then prompts the user to install the system update. When a major security update comes out, everyone should act relatively fast.
[1/2] A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File PhotoJan 25 (Reuters) - French train maker Alstom (ALSO.PA) posted an 8% rise in third-quarter sales on Wednesday, helped by forecast-beating orders, particularly in Europe. Revenue in the October-December period, Alstom's fiscal third quarter, amounted to 4.22 billion euros ($4.60 billion), compared with 3.92 billion euros in the same period a year earlier. Quarterly orders, of which most came from Europe, increased by 13% to 5.15 billion euros, and were 11% ahead of a consensus cited by J.P.Morgan. Alstom's orders "highlight high level of activity in rail industry which is already visible in large order announcements of companies", J.P.Morgan analyst Akash Gupta said in a note to clients.
Train maker Alstom's sales gain steam from European orders
  + stars: | 2023-01-25 | by ( ) www.reuters.com   time to read: +1 min
[1/2] A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File PhotoJan 25 (Reuters) - French train maker Alstom (ALSO.PA) on Wednesday posted an 8% rise in third-quarter sales, helped by strong orders in Europe. The COVID-19 pandemic and the war in Ukraine have hiked input costs and worsened supply-chain problems for train manufacturers, but a ramp-up in orders has nonetheless fuelled Alstom's sales growth. Revenue in the October-December period, Alstom's fiscal third quarter, amounted to 4.22 billion euros ($4.60 billion), compared with 3.92 billion in the same period a year earlier. Quarterly orders increased by 13% to 5.15 billion euros, with majority of them coming from Europe, the company said.
[1/2] Bottles of Coca-Cola are seen at a Carrefour Hypermarket store in Montreuil, near Paris, France, February 5, 2018. REUTERS/Regis Duvignau/File PhotoJan 9 (Reuters) - Beverage giants Coca-Cola Co (KO.N) and PepsiCo Inc (PEP.O) are under preliminary investigation by the U.S. Federal Trade Commission (FTC) over potential price discrimination in the soft drink market, Politico reported on Monday citing sources. The U.S. antitrust law prevents large franchises and chains from engaging in price discrimination against small businesses. The FTC reached out to large retailers, including Walmart Inc (WMT.N), for at least a month seeking data and other information on how they purchase and price soft drinks, two of the sources told Politico. FTC, Coca-Cola, Pepsi and Walmart did not immediately respond to Reuters' request for comments.
[1/2] The CN-ROP Royal Air Maroc Boeing 737 makes its final approach for landing at Toulouse-Blagnac airport, France, March 20, 2019. "Following the latest restrictions imposed by the Qatari authorities, Royal Air Maroc regrets to inform customers of the cancellation of their flights operated by Qatar Airways," the airline said in an emailed statement. The Qatari government's international media office did not immediately respond to requests for comment. The RAM spokesperson did not immediately respond to Reuters request for comment. Qatar Airways did not immediately respond to Reuters request for comment.
[1/2] Singer Celine Dion arrives to attend the Haute Couture Fall/Winter 2019/20 collection show by designer Alexandre Vauthier in Paris, France, July 2, 2019. REUTERS/Regis DuvignauDec 8 (Reuters) - Canadian singer Celine Dion said she has been diagnosed with a rare neurological disorder called Stiff-Person Syndrome that causes muscle spasms and has led her to postpone some European shows. Dion's muscle spasms led her to postpone her Las Vegas residency in October 2021. The "My Heart Will Go On" singer said that while she misses her fans, her health is her focus right now. While Dion's spring 2023 shows will be rescheduled for the following year, eight summer 2023 shows have been canceled.
Solutions for problems with the batteries have been found through work in the booming electric car market, their study says. China has the world's largest conventional submarine fleet, with an estimated 60 to 70 vessels. The main purpose of China's conventional submarine fleet is to protect its coastal areas and strategic waters including the Taiwan Strait and the South China Sea. JMSDF/TwitterThe booming electric car market has also brought changes in the defence industry. Germany and France have also developed prototype lithium batteries for submarine use with plans for military service in the near future.
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