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☆ Siemens Energy shares slide 39% after company seeks guarantees from German govt
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. The weekly said Siemens Energy is seeking up to 15 billion euros in guarantees. Siemens remains an anchor investor in Siemens Energy, retaining a 25.1% stake. The government was ready to help Siemens Energy while stakeholders also will have to play their role, they said. J.P. Morgan said in a note that the energy transition will require substantially higher rates of investments, which will bring commercial opportunities for Siemens Energy and sector peers.

Persons: Chris Helgren, Siemens Gamesa, WirtschaftsWoche, Morgan, Matthias Inverardi, Christian Kraemer, Alexander Huebner, Vera Eckert, Friederike Heine, Miranda Murray, Sabine Wollrab, Rachel More, Jan Harvey, Susan Fenton Organizations: Siemens Energy, REUTERS, Companies Company, Siemens, Siemens AG, Reuters Graphics Reuters, Spiegel, European Commission, Siemens Gamesa, Thomson Locations: Vancouver , British Columbia, Canada, BERLIN, Berlin

☆ France's Atos posts lower Q3 revenue dragged by Tech Foundations unit
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

The logo of Atos is seen on a company building in Nantes, France, March 11, 2022. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsOct 26 (Reuters) - French IT company Atos (ATOS.PA) on Thursday reported lower third-quarter revenue as good performance at its Eviden division was offset by the loss-making Tech Foundations unit. Atos is in talks to sell its legacy IT division, dubbed Tech Foundations, to Czech billionaire Daniel Kretinsky, which would end its initial turnaround plan to split the group into two listed entities. Atos posted quarterly revenue of 2.59 billion euros ($2.73 billion) for the whole group, down 3% organically and 5.3% on a constant currency basis from 2.82 billion euros last year. It still expects cash burn for the year to be about 1 billion euros.

Persons: Stephane Mahe, Daniel Kretinsky, Yves Bernaert, Atos, Michal Aleksandrowicz, Milla Nissi Organizations: REUTERS, IT, Tech, supercomputing, Thomson Locations: Nantes, France, French, Czech, Eviden, Gdansk

☆ Morning Bid: China spends, eyes on whether Europe lends
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O) each beat forecasts, but their share prices went in opposite directions as investors zeroed in on cloud computing. On the luxury front Kering (PRTP.PA), owner of Gucci and Balenciaga, reported a bigger-than-expected drop in third-quarter sales. Gucci's revamped look, unveiled last month in Milan by designer Sabato De Sarno, is yet to hit stores. European loans data and a survey of German business conditions will be closely watched later on Wednesday.

Persons: Thomas White, Tom Westbrook, Gucci, Balenciaga, LVMH, Birkin, Gucci's, Sabato De Sarno, Michele Bullock, Sam Holmes Organizations: REUTERS, Giants, Microsoft, Google, Nasdaq, Facebook, . Santander, Deutsche Bank, Dassault, Dassault Systemes, CME Group, Hilton, Boeing, IBM, Meta, Thomson Locations: China, Asia, Milan, Japan

☆ Atos shares plunge as nationalisation calls threaten planned Kretinsky deal
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsPARIS, Oct 23 (Reuters) - Atos (ATOS.PA) shares plunged on Monday after calls from opposition lawmakers for the nationalisation of the ailing IT firm on national security grounds raised doubts about a planned deal involving Czech billionaire Daniel Kretinsky. Asked by Reuters if the government was considering nationalisation, or could support an amendment to do so, a finance ministry source replied "no". Lawmakers from Les Republicains said the deal threatened to allow French supercomputers, made by Atos and used for virtual nuclear tests, to fall into foreign hands. Others, including Brun, have said critical Atos components were also used in combat systems used by France's navy and air force. Atos had also won a contract to process data for the Paris 2024 Olympic Games.

Persons: Atos, Sarah Meyssonnier, Daniel Kretinsky, Olivier Marleix, Socialist Philippe Brun, Philippe Brun, Jean, Pierre Mustier, Les Republicains, Brun, Leigh Thomas, Mathieu Rosemain, Tassilo Hummel, David Holmes Organizations: REUTERS, Rights, Les Republicans, Socialist, Atos, Reuters, supercomputing, Paris, National Assembly, Thomson Locations: Paris, France

☆ European shares slip as Middle East fears, ASML weigh
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 16, 2023. REUTERS/Staff/File photo Acquire Licensing RightsOct 18 (Reuters) - European stocks inched lower on Wednesday as deepening fears over an escalation in the Middle East conflict and a drop in ASML shares after the chipmaker's lacklustre forecast overshadowed support from upbeat economic data from China. The pan-European STOXX 600 index (.STOXX) was down 0.2% by 0703 GMT. Adidas (ADSGn.DE) jumped 4.7% after the sportswear firm lifted its revenue forecast and cut its expected loss for 2023. Data showed British annual consumer price inflation was unchanged at 6.7% in September, bucking economists' expectations for a further decline.

Persons: Joe Biden's, ASML, Amruta Khandekar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, U.S, Adidas, Thomson Locations: Frankfurt, Germany, China, Gaza, Israel

☆ Jean-Pierre Mustier enters Atos last chance saloon
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 16 (Reuters Breakingviews) - Atos (ATOS.PA) is ending its long-running governance farce by starting at the top. Former UniCredit (CRDI.MI) CEO Jean-Pierre Mustier is taking over as chairman of the 540 million euro French IT group. Mustier, who led a recapitalisation for UniCredit in 2017, has his work cut out. On Monday, Atos also delayed the split until the second quarter of 2024, sending its shares down as much as 4%. Atos’s growing cybersecurity unit Evidian, which accounts for two-thirds of its current operating profit, will remain listed after the split.

Persons: Jean, Pierre Mustier, Mustier, Atos, Daniel Kretinsky, Pierre Briancon, Neil Unmack, Oliver Taslic Organizations: Reuters, HSBC, UBS, X, Infosys, Thomson Locations: UniCredit, Czech, Europe

☆ LVMH shares tumble, hit fashion sector as luxury giant's sales growth slows
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. REUTERS/Christian Hartmann/File Photo Acquire Licensing RightsPARIS, Oct 11 (Reuters) - LVMH's (LVMH.PA) shares slumped on Wednesday, to their lowest level since December, knocking other shares in the fashion sector, after the French luxury giant posted slower third-quarter revenue growth. Shares in Gucci-owner Kering fell 3.2% at the market open while Hermes (HRMS.PA) also shed more than 3%. "An end to the roaring 20s," Berenberg analysts wrote in a briefing note as they cut their target price for LVMH. Investors have recently questioned the appetite for shares in the luxury goods sector, in the face of a Chinese slowdown and interest rate uncertainty.

Persons: Christian Hartmann, LVMH, Louis Vuitton, Tiffany, Morgan, JP Morgan, Kering, Berenberg, Mimosa Spencer, Sudip Kar Organizations: REUTERS, Rights, Swatch, Burberry, Dior, Gucci, Investors, U.S, Gupta, Thomson Locations: Paris, France, United States, Europe, China

☆ Luxury stocks drag European shares lower on LVMH disappointment
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

The logo of LVMH is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File photo Acquire Licensing RightsOct 11 (Reuters) - European stocks slipped on Wednesday after sharp gains in the previous session, as luxury giant LVMH dragged the sector lower on disappointing sales, though Novo Nordisk jumped after positive update on its diabetes drug Ozempic. The pan-European STOXX 600 index (.STOXX) dipped 0.2% by 0707 GMT. Shares of other French luxury majors such as Hermes (HRMS.PA) and Kering (PRTP.PA) fell 2.5% and 2.7%, respectively. Swiss luxury firms Richemont (CFR.S) fell 5.3% and Swatch Group (UHR.S) dropped 2.9%.

Persons: Gonzalo Fuentes, Danish drugmaker, Sruthi Shankar, Rashmi Organizations: Viva Technology, Porte de, REUTERS, Novo Nordisk, U.S . Federal Reserve, Swatch Group, Fresenius, Thomson Locations: Porte, Paris, France, U.S, Danish, Bengaluru

☆ LVMH may have to settle for a more humdrum future
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The disappointing results knocked 6% off LVMH stock on Wednesday and dragged down rivals Richemont (CFR.S) and Kering (PRTP.PA) which also fell about 3%. That may compound investor worries about an overall slowdown of the company that’s behind Louis Vuitton and Christian Dior (DIOR.PA). And China’s economic slowdown and a possible U.S. recession make their future even more uncertain. LVMH is trading at 20 times its expected 2023 earnings after Wednesday's fall. If the less exuberant times keep rolling, LVMH may find itself settling for an even less luxurious valuation.

Persons: Richemont, Bernard Arnault’s, Louis Vuitton, Christian Dior, Karen Kwok, Aimee Donnellan, Streisand Neto Organizations: Reuters, UBS, Hermès, Reuters Graphics Reuters, Qantas, Thomson Locations: Asia, Japan, Brussels

KARACHI, Pakistan, Oct 5 (Reuters) - Pakistani ecommerce logistics startup Rider, backed by YCombinator, is looking into acquiring BlueEx (UNIV.PSX) the only listed Express Courier Logistics Company in Pakistan, it told Reuters on Thursday. "We are carving out and acquiring the e-commerce logistics business which currently operates under the brand name BlueEx. This is not an acquisition of Universal Network System Limited as a whole," said Salman Allana, founder and CEO of Rider. If the transaction goes through, this will be the first acquisition of a listed company by a startup, and the first major acquisition of a company listed on Pakistan's Growth Enterprise Market (GEM) board at the Pakistan Stock Exchange (PAKS.PSX). While Rider has not disclosed the transaction value, it claims the acquisition will make Rider the third largest player in the ecommerce logistics space.

Persons: Salman Allana, Rider, Allana, Ariba Shahid, Michael Perry Organizations: Express Courier Logistics Company, Reuters, Venture, Universal Network System, Pakistan Stock Exchange, GEM, YCombinator, Global Founders Capital, Flexport, i2i Ventures, Fatima, Ventures, Soma, Rebel Fund, Thomson Locations: KARACHI, Pakistan, Karachi

☆ France's Atos appoints Yves Bernaert as new CEO
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

The logo of Atos is pictured at the Eurosatory international defence and security exhibition in Villepinte, near Paris, France June 13, 2022. REUTERS/Benoit Tessier/File photo Acquire Licensing RightsCompanies Atos SE FollowOct 4 (Reuters) - French IT firm Atos (ATOS.PA) said on Wednesday it appointed Yves Bernaert as its new chief executive officer, effective immediately. Bernaert has served as the CEO Europe for Accenture Technology for the past nine years. In July 2022, Atos named Nourdine Bihmane for the top job as previous CEO Rodolphe Belmer left the company a month earlier after only a half-a-year stint. Bihmane, who was also co-CEO of the group, now becomes its deputy CEO and is still in charge of the Tech Foundations business, Atos said.

Persons: Benoit Tessier, Yves Bernaert, Bernaert, Atos, Bihmane, Rodolphe Belmer, Philippe Oliva, Michal Aleksandrowicz, Piotr Lipinski, Sharon Singleton Organizations: REUTERS, Accenture Technology, Tech Foundations, Digital, Thomson Locations: Villepinte, Paris, France, French, Atos, Gdansk

☆ Atos unit, ParTec sign deal for Europe's first Exascale supercomputer
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

The logo of Atos is seen on a company building in Nantes, France, March 11, 2022. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsOct 4 (Reuters) - A Franco-German consortium said on Wednesday it had signed a deal to provide Europe's first Exascale supercomputer, as the region tries to catch up with the United States in next-generation computing. Supercomputers are vastly more powerful than traditional ones, and an Exascale supercomputer can perform one quintillion - or 1,000,000,000,000,000,000 - calculations per second. The 500 million euro ($524 million) deal will see the consortium provide a supercomputer, called JUPITER, for the German Jülich Supercomputing Centre. "JUPITER will have three times the computing capability of Europe’s current most powerful supercomputer", the consortium said, adding it would require the space of about four tennis courts.

Persons: Stephane Mahe, Germany's, Gaëlle Sheehan, Mark Potter Organizations: REUTERS, EuroHPC, EU, supercomputing, Jülich Supercomputing, Thomson Locations: Nantes, France, German, United States, Europe

☆ Cable makers are green investing’s dark horses
▼ + stars: | 2023-09-28 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

An electrical power pylon with high-voltage power lines is seen next to wind turbines near Weselitz, Germany November 18, 2022. Moving away from fossil fuels will require laying thousands of new and stronger power lines carrying electricity from source to end users. Putting the additional earnings on Prysmian’s expected EBITDA multiple for 2026 of 8 times would generate an additional enterprise value of 2 billion euros, nearly 20% above today’s 11.6 billion euros. One potential snag is that cable makers’ annual capacity for high-voltage cables is currently only 6 billion euros per year. The volume of high-voltage cable orders has risen to more than 10 billion euros last year from around 3 billion euros in 2019, according to industry and analyst estimates.

Persons: Lisi Niesner, Prysmian, George Hay, Streisand Neto Organizations: REUTERS, Reuters, International Energy Agency, JPMorgan, Reuters Breakingviews, Thomson Locations: Weselitz, Germany, Europe, North America, Britain, Denmark, China

In volatile trading, the U.S.-listed shares of several cannabis firms rose immediately after the Senate vote. Investors expected it to exit the banking committee. An earlier version of the bill, the SAFE Banking Act, had failed to secure a Senate vote despite being passed seven times by the U.S House of Representatives. As a result, legal cannabis companies are denied access to financial services. To get it through the Senate banking committee is a major achievement," Boris Jordan, billionaire founder of Curaleaf Holdings, said in an interview.

Persons: Chris Wattie, Jesse Redmond, Redmond, We've, it's, Boris Jordan, Jordan, Chibuike Oguh, Suzanne McGee, Michelle Price, Lance Tupper, Bill Berkrot Organizations: Canopy Growth Corporation, REUTERS, U.S, U.S . Senate, Aurora, Cronos, SNDL Inc, Curaleaf Holdings, Tilray, Cannabis ETF, Cannabis, Tower Research, Investors, SAFE, Thomson Locations: Smiths Falls , Ontario, Canada, U.S, New York, Bengaluru

REUTERS/Erica Dischino/ File Photo Acquire Licensing RightsSept 27 (Reuters) - A U.S. Senate committee on Wednesday voted to advance a marijuana banking bill, raising hopes for the cash-dependent cannabis sector to get access to regular banking services. The Secure and Fair Enforcement Regulation Banking Act (SAFER) bill, introduced by a bipartisan group of senators last week, will now move to the Senate floor. Shares of SNDL (SNDL.O), Trulieve Cannabis (TRUL.CD), Cronos Group (CRON.TO), rose between 1% and 3% following the vote. An earlier version of the bill, the SAFE Banking Act, had failed to secure a Senate vote despite the House of Representatives passing it seven times. "Realizing this first vote out of the Senate signals strong bipartisan support from both chambers of Congress," said Trulieve CEO Kim Rivers.

Persons: Erica Dischino, Kim Rivers, Arunima Kumar, Sourasis Bose, Sriraj Organizations: Red, REUTERS, U.S, Cronos, Cannabis ETF, Holdings, SAFE, U.S . Department of Health, Human Services, Drug Enforcement Agency, Thomson Locations: Red Lake, Red Lake , Minnesota, U.S, Bengaluru

☆ Condom-shy India arouses interest of global contraceptive makers
▼ + stars: | 2023-09-21 | by ( Kashish Tandon | ) www.reuters.com time to read: +5 min

Such is the trend that the market is set to more than double to $1.7 billion by 2030, showed data from GrandView Research. By contrast, 19% of U.S. men use condoms every time they have sex, showed data from the National Center for Health Statistics. World Bank data showed that, in 2021, per capita gross domestic product crossed $2,000 - a threshold at which, in China in 2006, consumption jumped. Britain's Reckitt Benckiser Group (RKT.L) has launched new products under its Durex brand and expanded its "Birds and the Bees" rural marketing campaign. SOCIAL MEDIAIndia's market leader is domestic manufacturer Mankind Pharma (MNKI.NS) with a 33% share, ahead of Reckitt Benckiser at 14%, TechSci data showed.

Persons: Kazuhiro Kamio, Okamoto, Arvind Singhal, Miah Kiat Goh, Dwight, Mankind, Ashita Aggarwal, Kashish Tandon, Sumit Khanna, Rocky Swift, Dhanya Skariachan, Christopher Cushing Organizations: GrandView Research, Reuters Graphics Reuters, Okamoto Industries, National Center for Health Statistics, Technopak Advisors, Reuters, United Nations, Benckiser, ., Mankind Pharma, Social, Jain Institute of Management & Research, HDFC Securities Institutional, View Research, Thomson Locations: BENGALURU, India, Europe, Japan, China, U.S, S.P, Bengaluru, Ahmedabad, Rocky, Tokyo

A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - Danish drugmaker Novo Nordisk briefly unseated LVMH (LVMH.PA) as Europe's most valuable listed company in intraday trading on Friday, ending the French luxury group's 2-1/2 year-long reign at the top. At 0843 GMT, Novo Nordisk (NOVOb.CO) had a market capitalisation of $421 billion including unlisted stock, according to Refinitiv data and company disclosures of its share count. By 1031 GMT, Novo Nordisk shares were up 1% while LVMH shares were down 0.4%. LVMH shares have fallen 13.8% from an all-time high hit in April, underperforming Europe's broader STOXX 600 which is down around 1.9% in the same time frame.

Persons: Jacob Gronholt, Pedersen, LVMH, Ozempic, Wegovy, Novo's, Louis Vuitton, Marcel Stotzel, Stotzel, Eli Lilly, Axelle Pinon, Mounjaro, Novo, Carmignac's Pinon, Hennessy, Tiffany, Fiona Cincotta, Hermes, Samuel Indyk, Amanda Cooper, Catherine Evans Organizations: Novo Nordisk, REUTERS, Nestle, Dior, Fidelity European Fund, Fidelity European Trust, Barclays, Index, Financiere, Thomson Locations: Copenhagen, Denmark, Danish, LVMH, United States, China, Covid

REUTERS/Robert Galbraith/File Photo Acquire Licensing RightsORLANDO, Florida, Aug 30 (Reuters) - To buy back, or not to buy back. The highest U.S. interest rates in over 20 years coupled with Wall Street's remarkable resilience has brought an old boardroom dilemma into sharp focus: are share buybacks worth it? Ditto Apple, Chevron, Alphabet and Wells Fargo, which this year have announced buybacks of $90 billion, $75 billion, $70 billion and $30 billion, respectively. Figures from Refinitiv show that S&P 500 companies spent more than $6 trillion on stock buybacks in the decade through 2022. Reuters Image Acquire Licensing Rights(The opinions expressed here are those of the author, a columnist for Reuters.)

Persons: Robert Galbraith, Joe Kleven, Ali Ragih, Nicholas Guest, Kothari, Parth Venkat, Jamie McGeever Organizations: Nvidia, REUTERS, Rights, U.S, Chevron, Mega Tech, Marathon Petroleum, VerityData, Reuters, Apple, Microsoft, Google, Corporate, Cornell University, S.P, Massachusetts Institute of Technology, University of Alabama, Thomson, & ' $ Locations: Santa Clara , California, Rights ORLANDO , Florida, Wells, YCharts, VerityData, U.S, underperformed

China, Brazil's largest trading partner, funneled $1.3 billion in direct investments into the country last year, the lowest level since 2009, according to a CEBC study. The performance contrasts with overall foreign direct investment (FDI) in Brazil in 2022, which skyrocketed by 95% to $90.6 billion, highest in a decade. Last year, just 28% of announced Chinese projects worth $4.7 billion went ahead, the CEBC said. That compares poorly with 2021, when pledged investments of $5.9 billion were fully realized, bolstered by two oil projects worth nearly $5 billion. Chinese mining firm Honbridge (8137.HK), for example, announced investments worth $2.1 billion that failed to proceed due to a pending environmental license.

Persons: Cariello, Hua Sheng, Getulio Vargas, Luiz Inacio Lula da Silva, Bernardo Caram, Tom Hogue Organizations: Brazil tanked, China Business Council, HK, U.S ., Sao Paulo Business Administration School, Getulio Vargas Foundation, Thomson Locations: BRASILIA, Brazil, China, Ukraine, U.S, Asia, Beijing

☆ European shares rise as fresh Chinese measures lift mood, tech stocks rally
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured as the German index celebrates its 35th birthday at the stock exchange in Frankfurt, Germany, August 15, 2023. By 0710 GMT, the pan-European STOXX 600 (.STOXX) added 0.7% after posting its first weekly gain in four. Technology stocks (.SX8P) advanced 1.5%, their first climb in three sessions, tracking an overnight rally on Wall Street. Meanwhile, interest rate expectations in the euro zone remained tepid following the European Central Bank President Christine Lagarde's speech late on Friday at the Jackson Hole symposium. Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Hermes, Christine Lagarde's, Shashwat Chauhan, Dhanya Ann Thoppil Organizations: REUTERS, Staff, Beijing, Technology, European Central Bank, Thomson Locations: Frankfurt, Germany, China, United Kingdom, Bengaluru

☆ European shares open lower as rate jitters, China woes loom large
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 17, 2023. As of 0703 GMT, the pan-European STOXX 600 (.STOXX) was down 0.5% and poised for its fourth consecutive day of losses, if trend holds. Surging bond yields have pressured equities this week, with the STOXX 600 headed for a weekly fall of nearly 2%. European miners (.SXPP), who also face an exposure to China, fell 1.1% in early trade. UK's blue-chip FTSE 100 (.FTSE) fell 0.6% after data showed British retail sales slumped more sharply than expected in July.

Persons: Hermes, Shashwat Chauhan, Sherry Jacob, Phillips Organizations: REUTERS, Staff, China Evergrande, HK, EQT, Thomson Locations: Frankfurt, Germany, China, U.S, Bengaluru

☆ French lawmakers raise strategic concerns over Atos sale to Kretinsky
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

The logo of Atos is seen on a company building in Nantes, France, March 11, 2022. REUTERS/Stephane Mahe/File PhotoPARIS, Aug 3 (Reuters) - Talks to sell parts of French company Atos (ATOS.PA) to Czech billionaire Daniel Kretinsky are raising concerns among some French lawmakers, who say the deal risks undermining the independence of France's nuclear deterrence. Lawmakers cannot block a sale of a French company, only the government can if it considers there is a strategic reason for doing so. The lawmakers questioned why an alternative French buyer, a consortium of French companies Astek and ChapsVision, who were reported in French media to have been interested, were not given more consideration. A source close to Astek said Atos's cybersecurity business also hosted other sensitive assets crucial to French intelligence interests.

Persons: Stephane Mahe, Daniel Kretinsky, Atos, Thursday's, Figaro, Cedric Perrin, Kretinsky, Perrin, Astek, Atos's, Michel Rose, Mathieu Rosemain, Sharon Singleton Organizations: REUTERS, Les, Kretinsky, Casino, Reuters, Thomson Locations: Nantes, France, Czech, Europe

☆ Atos lifts sales target, expands divestment plan
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of French IT consulting firm Atos is seen on its new supercomputer BullSequana XH3000 during a news conference in Paris, France, February 16, 2022. REUTERS/Sarah MeyssonnierJuly 28 (Reuters) - France's Atos (ATOS.PA) raised its annual organic revenue target on Friday, pointing to improving commercial traction and high demand, and said it planned further divestments. Atos expects to achieve the initial divestment target by the end of 2023, when the sale of its sustainability consultancy unit Ecoact to Schneider Electric (SCHN.PA) is completed. "We have already received signals of interest for assets we've identified in our supplementary divestment plan," Senior Executive Vice President Diane Galbe said in a call with journalists. Atos's revenue for the six months through June was 5.5 billion euros ($6 billion), slightly below the 5.57 billion euros expected by analysts polled by Refinitiv Eikon.

Persons: Atos, Sarah Meyssonnier, Ecoact, Diane Galbe, Refinitiv Eikon, Victor Goury, Milla Nissi Organizations: REUTERS, Schneider Electric, Thomson Locations: Paris, France, Laffont, Gdansk

☆ Hermes defies luxury slowdown with strong sales
▼ + stars: | 2023-07-28 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

Hermes' results come as luxury stocks have come under pressure due to uncertainty over the pace of China's post-pandemic recovery, while a months-long spending frenzy in the U.S. market cools amid rising inflation. "We've seen no interruption in (growth) trends," Hermes Executive Chairman Axel Dumas told journalists. "Strong print across the board," said Exane BNP Paribas, citing fast sales growth and consensus-beating margins. Analysts said the results showed the strength of Hermes' business model, which entails careful management of production and stocks. Hermes shares traded up 3.3% in early morning trading, while rival Kering was up 1% and LVMH was down 0.5%.

Persons: Veronique Nichanian, Gonzalo Fuentes, Birkin, Hermes, Richemont, We've, Axel Dumas, Dumas, Bernstein, Kering, LVMH, Mimosa Spencer, Silvia Aloisi, Sharon Singleton Organizations: REUTERS, BNP, Thomson Locations: Paris, France, U.S, China

☆ Beyond the metaverse
▼ + stars: | 2023-07-26 | by ( Sponsor Post | Created Insider Studios With Pwc | ) www.businessinsider.com time to read: +8 min

However, many consumers — and even business leaders — are still confused about what the metaverse actually is and how it will work. No matter what you call it — the metaverse, spatial computing, the 3D web – when the metaverse is broken down into its component parts, more realistic applications emerge. "We call it Metaverse Technologies for a reason." PwCIt's not just retail; events that have traditionally relied on in-person participation are also embracing a combination of metaverse technologies. The Venice Carnival is just one example of how metaverse technologies can create new ways for people to connect, learn, and experience the world.

Persons: —, Roberto Hernandez, We've, Hernandez, Joe Harrington, Harrington, We're, Alberto Bozzo, Ve.La, PwC Organizations: Technologies, PwC, Venice Carnival, Venice, Companies, Insider Studios Locations: Venice

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