Burberry shares pop 9%<\/p>\n
London-listed shares of Burberry were 9.1% higher at 8:27 a.m. in London, after the company announced new steps in a restructuring plan and said its earnings fell less than expected in the three months to March.<\/p>\n
The company said its organizational changes could lead to job cuts, with the strategy potentially impacting up to 1,700 jobs globally.<\/p>\n
Read more here.<\/a><\/p>\n Embattled Burberry announces new turnaround steps even as sales fall less than expected<\/p>\n A Burberry store at Fashion Valley, an upscale shopping mall, on Dec. 13, 2024, in San Diego, California.<\/p>\n Kevin Carter | Getty Images News | Getty Images<\/p>\n In corporate news, British luxury giant Burberry<\/a> just announced a slew of organizational changes, as part of continued turnaround efforts at the embattled luxury house.<\/p>\n CNBC’s Karen Gilchrist is reporting on the measures<\/a>, which were announced as the company’s quarterly earnings report showed sales fell less than expected in the three months to March.<\/p>\n Stoxx 600 could end four-day run of gains<\/p>\n If the Stoxx 600 dips into negative territory on Wednesday, it will put the index on track to snap its four-day winning streak.<\/p>\n Global stocks rallied earlier this week after the U.S. and China announced a 90-day pause<\/a> on most of the tariffs they had slapped on each other’s goods in recent weeks. The Stoxx 600 gained 1.2% on Monday, after details on the deal were made public.<\/p>\n \u2014\u00a0Chloe Taylor<\/p>\n TUI misses sales expectations over timing of Easter holidays<\/p>\n Holiday operator TUI Group<\/a> missed top line expectations owing to a shift in Easter holidays to the third financial quarter.<\/p>\n The company said revenues were “modestly” higher by 1.5% to 3.7 billion euros ($4.14 billion) for its third financial quarter ending March 31, missing analyst expectations of 3.86 billion euros. It also reported an adjusted loss of 207 million euros, better than the expected 226.1 million loss.<\/p>\n However, TUI maintained its full-year revenue guidance, adding that total sales were expected to rise between 5% and 10%.<\/p>\n “We expect a small positive reaction as the strong profitability and continued [average sale price] growth for summer bookings offsets the deceleration in booking volumes \u2013 even with the Easter impact,” said Citi’s equity analyst Leo Carrington in a note to clients. “With the company reiterating its [2025 financial year] guidance, we don’t expect material changes to consensus estimates at this stage.”<\/p>\n \u2014 Ganesh Rao<\/p>\n The UK wants to crack down on foreign workers. Businesses worry Brits can\u2019t \u2014 or won\u2019t \u2014 fill the labor gap<\/p>\n CNBC’s Holly Ellyatt reported this morning that British businesses are concerned about a labor shortage arising from U.K. government plans to tighten immigration policy.<\/p>\n The British government on Monday\u00a0announced plans to cut migration to the U.K.<\/a>, tightening the rules on who can come to work, study and live in the country. The proposals raise English-language requirements for migrants, as well as the skills and level of education they need to obtain work visas.\u00a0<\/p>\n Read Holly’s story in full here.<\/a><\/p>\n German inflation hit 2.2% in April<\/p>\n Germany’s annual harmonized inflation rate stood at 2.2% in April, data<\/a> from the country’s Federal Statistical Office showed on Wednesday.<\/p>\n The data release confirmed preliminary figures<\/a> released at the end of last month.<\/p>\n \u2014 Chloe Taylor<\/p>\n Opening calls<\/p>\n Good morning from London.<\/p>\n European stock markets are expected to open lower, paring some of the gains seen earlier this week after the U.S. and China agreed to a trade truce.<\/p>\n Futures point to the Stoxx Europe 600<\/a>, Germany’s DAX<\/a> and the French CAC 40<\/a> all opening 0.2% lower, while the FTSE 100 is slated to shed 0.3%.<\/p>\n Investors are looking ahead to earnings updates from Burberry<\/a>, TUI<\/a>, Imperial Brands<\/a>, Experian<\/a>, Compass Group<\/a>, Telefonica and EON<\/a>.<\/p>\n \u2014 Chloe Taylor<\/p>\n","protected":false},"excerpt":{"rendered":"Burberry shares pop 9% London-listed shares of Burberry were 9.1% higher at 8:27 a.m. in London, after the…\n","protected":false},"author":2,"featured_media":100196,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[4959,51,3085,1830,2441,1831,16,15],"class_list":{"0":"post-100195","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breaking-news-markets","9":"tag-business","10":"tag-business-news","11":"tag-earnings","12":"tag-markets","13":"tag-stock-markets","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114505022362009244","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/100195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=100195"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/100195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/100196"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=100195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=100195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=100195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}