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LONDON, Nov 17 (Reuters) - Pharmaceutical companies could be made to disclose prices and deals agreed for any products they make to fight future pandemics, under new rules being drawn up by the World Health Organization and reviewed by Reuters. During the pandemic, many deals that governments made with pharmaceutical companies have been kept confidential, giving them little scope to hold drugmakers accountable. A spokesperson for the WHO said it was member states that were driving the current process towards a new agreement. "The process is open, transparent, and with the input from other stakeholders, including any interested stakeholders and public, able to submit comments at public consultations." The draft will be presented to them in full in a meeting on Friday, after being circulated earlier in the week.

The deadline for shareholders to tender shares in support of the bid was 1600 GMT on Friday. Protean Funds had said previously it wanted to fight for Swedish Match and thought PMI's bid undervalued the company. It is still not known what activist investor Elliott Management, which owns over 10% in Swedish Match, has done. Under Swedish law, PMI needs 90% of shareholders to agree to the deal to get full control of Swedish Match. PMI bid lights up Swedish Match stock($1 = 10.9446 Swedish crowns)Reporting by Marie Mannes; Editing by Jane Merriman, Josephine Mason, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Companies count the cost of ditching Russia
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +6 min

INDITEX (ITX.MC)Zara owner will book a provision of 216 million euros after agreeing to sell its Russia stores to UAE-based Daher Group. TRATON (8TRA.DE)Volkswagen's (VOWG_p.DE) truck division Traton in September said disposing of some assets in Russia would cause a 550 million euro loss. CREDIT AGRICOLE (CAGR.PA)Credit Agricole provisioned more than 500 million euros related to its Russian exposure in Q1. LINDEThe world's largest industrial gases company's exit from Russia recorded impairments of $993 million from its Russia exit. SIEMENS (SIEGn.DE)The Munich-based engineering and tech firm said in May it would take a 600 million euro hit in Q2 for exiting Russia.

The drop is not just because industrial companies are turning down thermostats, they are also shutting down plants that may never reopen. And while lower energy use helps Europe weather the crisis sparked by Russia's war in Ukraine and Moscow's supply cuts, executives, economists and industry groups warn its industrial base may end up severely weakened if high energy costs persist. Reuters GraphicsThe International Energy Agency estimates European industrial gas demand fell by 25% in the third quarter from a year earlier. "We are doing all we can to prevent a reduction in industrial activity," an European Commission spokesperson said in an email. "From Jan. 1, we will be able to switch to oil," company executive Wolfgang Ott said, as the company seeks government help to cushion energy costs.

☆ Caterer Sodexo sees rebound in 2023 to pre-pandemic levels
▼ + stars: | 2022-10-26 | by ( Federica Mileo | ) www.reuters.com time to read: +3 min

Sodexo's share price was up 2.7% by 0730 GMT to the highest level since March 2020, having gained nearly 20% this year. The Paris-based firm posted annual revenue of 21.1 billion euros ($21.1 billion), compared with 20.7 billion euros forecast by analysts polled by the company. After being hit by COVID-19 lockdowns, caterers are trying to renegotiate tariffs and supplier agreements as the sector faces soaring energy and food prices triggered by Russia's invasion of Ukraine, both major wheat exporters. It said revenue from its main on-site services unit reached 99% of its 2019 levels in the fourth quarter. Sodexo forecast organic revenue growth of between 8% and 10% for 2023, driven by further progress in new business and inflation, and underlying operating profit margin around 30%.

☆ Cloud services firm OVH sees flat 2023 profit margins as energy costs bite
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - French cloud services company OVHcloud (OVH.PA) forecast on Wednesday flat profit margins in its full-year to end-August 2023 even as revenue is expected to grow, as price hikes only partially offset rising energy costsOVH said it expects adjusted EBITDA margin growth to be inline with 2022 levels and organic revenue would grow 14-16%, although it said it has not seen any change in its customer behaviour following its price increases. It cautioned though of rising costs, forecasting electricity costs in 2023 will account for around a mid- to high-single digit percentage of its revenue, up from mid-single digit in 2022. The company posted revenues of 788 million euros ($784 million) in the full year to end-August, up 18.8% year-on-year, and higher than the 781 million average forecast from a company provided consensus. ($1 = 1.0050 euros)Reporting by Olivier Sorgho; Editing by Jacqueline Wong and Josephine MasonOur Standards: The Thomson Reuters Trust Principles.

☆ Dassault Systemes raises FY outlook, boosted by strong U.S. dollar
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

GDANSK, Oct 26 (Reuters) - French software maker Dassault Systemes (DAST.PA) on Wednesday raised its full-year earnings and revenue forecast, due in part to the stronger dollar, after reporting higher-than-expected quarterly results. Revenue was driven by strong subscription and support growth. Dassault Systems increased its non-IFRS diluted earnings per share target for 2022 to between 1.12 and 1.14 euro from its earlier estimate of 1.08 euro and 1.10 euro. The company also said it was increasing its full-year revenue target to between 5.61 billion and 5.65 billion euros from a range of 5.49 billion to 5.54 billion euros previously boosted by a strong dollar. ($1 = 1.0047 euros)Reporting by Karol Badohal; editing by Josephine MasonOur Standards: The Thomson Reuters Trust Principles.

German chemicals maker Covestro (1COV.DE) lowered its 2022 earnings guidance for the third time this year, blaming gas and raw material prices. Gas prices in Europe have eased in response to an unusually warm October and projections of a mild winter. The group, which relies heavily on natural gas, is buying from outside Europe, where prices are lower. RACE TO CUT COSTSCompanies across Europe are racing to reduce their energy use ahead of the winter when demand increases as households turn up the heat. Chemical companies are among the hardest hit by the energy crisis because they use gas as a raw material for production and as an energy source.

☆ Air Liquide's Q3 sales beat forecast despite slowdown in European demand
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

Oct 25 (Reuters) - French industrial gases company Air Liquide (AIRP.PA) on Tuesday beat analyst expectations for third-quarter sales, despite flagging slowing demand in Europe from customers in its Large Industries unit. The group's shares were up 4.2% by 0832 GMT, as JPMorgan in a note called the results "reassuring". Register now for FREE unlimited access to Reuters.com RegisterAll three major segments recorded growth despite a "complex" macroeconomic environment of surging energy prices, the group said. The company said revenue in Europe contracted by 0.2%, largely due to its Large Industries segment where revenue dropped by 27.5%, in a context of surging energy prices. Air Liquide said Large Industries volumes dropped 6%, "impacted by a slowing demand from Steel and Chemical customers, notably in Germany and Benelux."

☆ France's Edenred expects annual core profit to grow by more than 12% over 2022-2025
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

Oct 25 (Reuters) - French vouchers and cards provider Edenred (EDEN.PA) said on Tuesday it expects like-for-like annual growth of more than 12% in its core profit for the next three years and to boost revenue to as much as 5 billion euros ($4.9 billion) by 2030. The revenue target would be more than triple the 1.63 billion the company reported last year. The forecasts came as the company, which helps other companies manage staff expenses and benefits and is known for its "Ticket Restaurant" vouchers, outlined its strategic plan for the period 2022-2025. ($1 = 1.0129 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Diana Mandiá in Gdansk; editing by Josephine Mason, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Covestro cuts profit outlook again on rising energy, raw material costs
▼ + stars: | 2022-10-25 | by ( Bartosz Dabrowski | ) www.reuters.com time to read: +2 min

The company's shares were down around 2% by 0810 GMT after it said it was only able to offset the sharp rise in raw material and energy prices to a small extent by higher prices. The group, whose main products include foam chemicals used in mattresses, car seats and insulation for buildings, sees full-year earnings before interests, taxes, depreciation and amortisation (EBITDA) in a range of 1.7 billion euros and 1.8 billion euros ($1.7 billion-$1.8 billion), compared with a previous forecast of 1.7 billions euros-2.2 billion euros. Register now for FREE unlimited access to Reuters.com RegisterIt lowered its free operating cash flow (FOCF) forecast to a range of 0 and 100 million euros from a previous range of 0 to 500 million euros. Covestro said third-quarter EBITDA fell 65% to 302 million euros, below the analysts' average estimate of 320 million euros in a company-provided poll. Chemical companies are among the hardest hit by the energy crisis because they use gas both as a raw material for production and as an energy source.

☆ Russia's Rusal files London lawsuit against Potanin over Nornickel pact
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +4 min

The dispute centres on an agreement brokered by Moscow in 2012 between Nornickel's two largest shareholders, Potanin and Rusal, which protected its dividend payouts. Disputes over dividends have been the main reason for on-and-off rows between shareholders at Nornickel and Rusal over the past 14 years. SEEKING COMPENSATIONThe London lawsuit comes as Moscow faces Western sanctions over what it calls a "special military operation" in Ukraine. While Nornickel has not been directly targeted by Western sanctions, Potanin was sanctioned by Britain in June. Potanin has been chief executive of Nornickel for the duration of the agreement and Rusal said in its statement that it now required a "professional independent executive" as CEO.

☆ Philips to cut 5% of its workforce after medical equipment recall
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Oct 24 (Reuters) - Dutch medical equipment maker Philips (PHG.AS) said on Monday it expected to scrap around 4,000 jobs as it tried to streamline its organisation after a massive recall slashed around 70% off its market value in the past year. "My immediate priority is to improve execution so that we can start rebuilding the trust of patients, consumers and customers," Jakobs said in a statement. The cuts represent just over 5% of the company's workforce based on last year's total of 78,000. The company said it expected the reorganisation to cost around 300 million euros ($295.41 million) in the coming quarters. As flagged in a profit warning earlier this month, Philips said its adjusted earnings before interest, taxes and amortisation (EBITA) had tumbled 60% in the third quarter, to 209 million euros.

☆ Philips to cut 5% of workforce as new CEO acts to counter falling sales
▼ + stars: | 2022-10-24 | by ( Tosterling Bart H. Meijer | Bart H. Meijer | ) www.reuters.com time to read: +3 min

AMSTERDAM, Oct 24 (Reuters) - Philips' (PHG.AS) new CEO announced plans on Monday to cut around 4,000 jobs following falling sales and after a massive recall slashed around 70% off the Dutch medical equipment maker's market value in the past year. The company said it expected the reorganisation to cost around 300 million euros ($295.41 million) in the coming quarters. Philips is in talks with the U.S. Department of Justice on a settlement following the recall. Comparable sales dropped 6% to 4.3 billion euros in July-September as Philips said supply chain problems were worse than anticipated and would continue to weigh on sales in the last months of 2022. Jakobs said his top priorities were repairing the company's reputation by ensuring the recall is completed as soon as possible, and resolving the supply chain problems.

☆ BESI sees Q4 revenue drop, warns U.S. export curbs add uncertainty
▼ + stars: | 2022-10-20 | by ( Dagmarah Mackos | ) www.reuters.com time to read: +1 min

Oct 20 (Reuters) - BE Semiconductor (BESI) (BESI.AS) forecast on Thursday a fall in quarterly revenue, as the chipmaking equipment supplier warned that U.S. export curbs to China added more uncertainty to the industry outlook. The Dutch firm is the latest semiconductor company to give downbeat guidance amid growing concerns about weakening consumer demand for electronic devices. The forecast came as the company reported third quarter orders fell 18.2% to 125.3 million euros from the prior quarter, as demand for high performance computing applications and Asian subcontractors weakened. The group reported revenues of 168.8 million euros, a 21.1% decrease from the previous quarter, at the high end of the 20-30% range forecast in July. ($1 = 1.0221 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Dagmarah Mackos; editing by Josephine Mason and Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

The maker of KitKat chocolate bars and Nescafe reported organic sales, which cut out the impact of currency movements and acquisitions, rising by 8.5% in the nine months to end-September. "We delivered strong organic growth as we continued to adjust prices responsibly to reflect inflation," the company's chief executive Mark Schneider said. "Sales volumes have held up well so far but we are a way from peak cost of living squeeze." As a result Nestle raised its full-year outlook, saying it now expected organic growth of "around 8%" for 2022, up from a 7% to 8% increase previously. The Swiss company also confirmed its target for a trading operating profit margin of around 17%.

A Just Eat delivery man rides his bicycle in Nice amid the coronavirus disease (COVID-19) outbreak in France, February 16, 2021. The group last posted an underlying profit in the second half of 2020, said Clement Genelot, analyst at Bryan Garnier. Shares in the company see-sawed in early trade as investors weighed the return to profitability against concerns about falling orders. As part of the cost cutting measures, Groen said the company has introduced a hiring freeze. Just Eat is looking to expand its networks to include deliveries of other products and is currently exploring a number of pilot schemes, Groen said.

☆ Nestle raises FY outlook as KitKat maker pushes through price hikes
▼ + stars: | 2022-10-19 | by ( John Revill | ) www.reuters.com time to read: +3 min

Jars of Nescafe Gold coffee by Nestle are pictured in the supermarket of Nestle headquarters in Vevey, Switzerland, February 13, 2020. The KitKat chocolate bar maker reported organic sales, which cut out the impact of currency movements and acquisitions, rising by 8.5% in the nine months to end-September. As a result Nestle raised its full-year outlook, saying it now expected organic growth of "around 8%" for 2022, up from a 7% to 8% increase previously. The Swiss company also confirmed its target for a trading operating profit margin of around 17%. "Our real internal growth remained resilient despite a high base of comparison and continued supply chain constraints, with limited demand elasticity," Schneider said.

A Just Eat delivery man rides his bicycle in Nice amid the coronavirus disease (COVID-19) outbreak in France, February 16, 2021. REUTERS/Eric Gaillard/File PhotoOct 19 (Reuters) - Just Eat Takeaway.com (TKWY.AS), Europe's largest meal delivery company, said on Wednesday it made an underlying profit in the third quarter, sooner than expected, after cutting expenses on delivery costs and operations. The group said in September it expected to have positive earnings before interest, taxes, depreciation and amortisation (EBITDA) in the second half of the year. The company will hold an extraordinary shareholders meeting on Nov. 18 to vote on the deal worth $1.8 billion, it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Diana Mandiá and Dagmarah Mackos; editing by Josephine Mason and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

FILE PHOTO - Maersk CEO Soren Skou answers questions from the press after publishing the company's quarterly accounts, in Copenhagen, Denmark, November 2, 2021. Moller-Maersk's (MAERSKb.CO) chief executive said on Thursday he expects a "modest" pick-up in trade for the upcoming holidays this year amid concerns about the slowing global economy and consumer demand. "Volumes headed into the Christmas season are lower than a normal year," Soren Skou said in a Reuters Newsmaker interview. Ocean freight volumes will be flat or lower this year, though there is still congestion in global supply chains, he said. Maersk has raised its 2022 profit guidance twice this year as high freight rates persisted longer than expected.

☆ Analysis: Alzheimer's drug trial breakthrough boost for Roche, Eli Lilly
▼ + stars: | 2022-09-28 | by ( Natalie Grover | ) www.reuters.com time to read: +5 min

Eli Lilly logo is shown on one of the company's offices in San Diego, California, U.S., September 17, 2020. Nearly all Alzheimer's drugs, including those targeting amyloid, have stumbled in trials. Late-stage data on gantenerumab is expected by the fourth quarter, Roche said in a statement, saying it was encouraged by the lecanemab data. Results of a key late-stage trial testing the drug are anticipated by mid-2023. AMYLOID HYPOTHESISSome researchers, including Frederiksen, are cautiously optimistic about the impact the Biogen, Eisai data has on the likelihood of success for the other two drugs in development.

A view shows a shelf with bottles of Pepsi at a grocery store in Moscow, Russia September 9, 2022. The continued production means sodas are still widely available in Moscow and also in Vladivostok in the far east and Krasnoyarsk in Siberia, according to a review by Reuters. The West has not sanctioned food and drink as part of sweeping measures aimed at punishing Russia over its actions in Ukraine. Earlier in the summer, shops in the capital were still selling off stockpiles of foreign beers, months after the brewers said they would halt production. read moreAtlanta-based rival Coca-Cola Co's (KO.N) production in Russia also continued after it said in March it would suspend operations.

☆ Flights briefly disrupted at UK's Luton airport as heat damages runway
▼ + stars: | 2022-07-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 18 (Reuters) - Flights to and from Britain's London Luton airport were temporarily disrupted on Monday after soaring temperatures caused a defect in its runway, prompting airlines to delay or divert their planes. read moreThe airport said its runway had reopened at 1705 GMT, after earlier suspending flights at 1522 GMT. Some 14 flights due to land at Luton were diverted to other airports including Gatwick and Stansted on Monday afternoon, according to FlightRadar24 data. That total included 14 Wizz flights heading to European holiday destinations including Tenerife and Dubrovnik, and 16 EasyJet arrivals. A spokesperson for Ryanair said it had not cancelled any flights to or from Luton, but had diverted a small number to London Stansted Airport due to the runway defect.

☆ GE unit boosts medical dye output as China COVID lockdown cuts supplies
▼ + stars: | 2022-05-10 | by ( ) www.reuters.com time to read: +3 min

read moreSome of the largest U.S. hospitals said on Tuesday they are facing critical shortages of iodinated contrast media products. The Greater New York Hospital Association (GNYHA) warned on May 4 of temporary supply shortages of GE Healthcare's iodinated contrast media - specifically its Omnipaque products made in Shanghai. "We are working around the clock to expand capacity of our iodinated contrast media products," a GE spokesperson said after the company had to close its Shanghai facility for several weeks due to local COVID policies. GE Healthcare has four contrast media manufacturing facilities, including the one in Shanghai. A spokesperson for Bayer (BAYGn.DE), which competes with GE Healthcare in contrast media, said it is not facing a similar situation.

☆ Airbus urges European leaders to refrain from Russian titanium sanctions
▼ + stars: | 2022-04-12 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

The logo of Airbus is picuted at the Airbus facility in Montoir-de-Bretagne near Saint-Nazaire, France, March 4, 2022. "Sanctions on Russian titanium would hardly harm Russia, because they only account for a small part of export revenues there. In March, Airbus said it "is directly sourcing titanium from Russia as well as from other countries" and indirectly acquiring Russian titanium via suppliers. On Tuesday, it reaffirmed this in answer to a Reuters query but declined to say when it had last received Russian titanium. Last month, Boeing said it had suspended buying Russian titanium.

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