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EasyJet's Q3 profits lower as Iran War raises costs
EasyJet, the target of a takeover, reported a PS85million ($113.8million) profit in its 'third quarter' on Thursday. This was a significant drop from a year earlier due to disruptions caused by Iran war, but said that consumer confidence is increasing as we enter 'peak summer season. The British budget airline, which has backed U.S. investor firm Apollo's PS5.7billion?takeover?offer over Castlelake's?repeated?approaches, stated that there was a strong demand for bookings made late in the month before departure, throughout the entire quarter. It also said it had 68% of its seats sold during the fourth quarter. The 'five-month war' has a dreary effect on the travel industry, as its quarterly earnings are a far cry from the PS286million profit it logged last year.
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New York Times Business News - July 23,
These are the 'top stories' from?the New York Times?business?pages. The?New York Times has not verified the accuracy of these stories. The Florida teenager who sued Meta for claiming that the company's social media apps caused his depression and anxiety dropped his lawsuit. Sony Pictures Entertainment announced that it will reopen the Cinerama Dome, Hollywood by 2028 after a renovation. This was in response to a growing demand from younger audiences for premium movie experiences. Three U.S. Airports are the first to adopt the new "private screening" model of the Transportation Security Administration, despite the staunch opposition from the union representing thousands of T.S.A. workers. workers. - ?U.S. Trade Representative Jamieson Greer said to Congress on Wednesday, that there was a "national emergency" in trade and that the administration was still determined to use tariffs as a tool for economic transformation.
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Channel Tunnel operator: EU software problems could delay biometric checks
Getlink, the operator of the Channel Tunnel, warned on Thursday that software problems could cause the biometric phase to be delayed past the original deadline of September 6, affecting car passengers who use the tunnel. The Chief Executive Yann Leriche stated that the biometric component for the new Entry/Exit System has yet to be implemented in passenger vehicles. He also warned that the software at the European level is not fully stable. Travel disruptions during holiday seasons are a concern for airline groups as well as British authorities. Leriche said to reporters: "I won't tell you that we're not experiencing any problems, but there is one problem?that impacts us all and?for which there is no immediate solution. The software provided by the European Union." Getlink, the company that operates the Channel Tunnel on a concession lasting until 2086 has invested EUR80,000,000 ($91,000,000) in preparing its terminals for EES. Leriche reports that the queues in the tunnel are generally only one or two hour long, as opposed to?significantly more delays' reported at certain airports. All this bad press, especially coming from the British, because 80% of tourists are British, creates an impression that the problems can't be solved. But, if we do our jobs, they're largely manageable. The Paris-based firm also announced that it had filed a lawsuit against the British government for revaluing business rates, which tripled their annual tax bill. Leriche stated that the company would give the UK government until the end the summer to reconsider their position before launching a formal legal challenge. Eurotunnel's owner has raised its guidance for full-year earnings to EUR835 to EUR870 millions, up from EUR820 to EUR860 in the past, and assumed only limited disruptions due to the rollout of the new entry system. $1 = 0.8763 Euros (Reporting and Editing by Edmund Klamann; Gianluca Nostro, Zakarya Melani)
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Indian billionaire Adani considering starting an airline, sources say
Two sources who have direct knowledge of the situation said that Indian billionaire Gautam 'Adani's group is considering launching a new airline. This could reshape the competition in a market currently dominated by IndiGo &?Air India. Sources declined to be named because they weren't authorised to talk to the media. According to the first source, India has been encouraging business groups to start an airline, including Adani. This is due to the ongoing scrutiny of Air India after 'last year's crash, and IndiGo's operational problems that led to 'widespread disruptions in December'. Adani?did not immediately respond to?questions from?. Reporting by Abhijith Gaapavaram and Aditya Kalra, Editing by Jacqueline Wong & Jamie Freed
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Wall Street Journal, July 23,
These are the most popular stories in the Wall Street Journal. The?has not?verified these stories and?does not?vouch for their accuracy. Union Pacific has struck a deal with Canadian National Railway in which it will give Montreal Railway more access to the Midwest, in exchange for the company ending its opposition to Norfolk Southern's merger with the American railroad. After the companies made concessions in relation to film distribution, the European Union has approved Paramount's $81 Billion bid to purchase Warner Bros Discovery. IBM CEO Arvind Krsna urged the company to shift its sales force away from large licensing deals and towards consumption-based cloud-based models after lowering its revenue growth forecast for the full year. Taco Bell executives held late-night meetings to discuss the chain's response to an outbreak of cyclospora linked to shredded romaine lettuce. Officials diverted supply trucks and mobilized field teams to remove cases of contaminated romaine lettuce. Prologis, a U.S. warehouse owner, increased its final bid for U.K. competitor Segro from?14 billion pounds to $ 18.74 billion and has ruled out any further increases. Penske Corp and Mitsui offered $210 per share for the sale of Penske Automotive Group, a potential deal worth $3.78 Billion.
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Indian billionaire Adani considering starting an airline, sources say
Two sources who are 'directly familiar with the matter' said that the 'group of Indian billionaire Gautam adani is pondering launching a brand new airline. This could reshape the competition in an industry dominated by IndiGo &?Air India. Sources declined to be identified as they weren't authorised to speak with the media. According to the first source, India has been encouraging business groups to start an airline, including Adani. This is due to the 'ongoing scrutiny' of Air India following 'last year's crash' and IndiGo's operational problems that caused widespread air traffic disruptions in December. Adani?did not immediately respond?to questions?from. Reporting by Abhijith Gaapavaram and Aditya Kalra, Editing by Jacqueline Wong & Jamie Freed
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Freight forwarder Kuehne+Nagel lifts 2026 operating profit forecast
Swiss logistics group Kuehne Nagel raised its 'operating profit' guidance for 2026 on Thursday. It cited strong performance in the second-quarter and its efficiency measures. The freight forwarder that operates in over 100 countries forecasts recurring earnings of between 1.35 and 1.55 billion Swiss Francs ($1.66 to $1.91 billion), up from its previous range of 1.25 to 1.40 billion Swiss Francs. A poll conducted by the company showed that analysts were expecting a median operating income of 1.41 billion Swiss francs in 2026. The recurring EBIT for last year was 1.24 billion Francs. In recent weeks, several major logistics companies have raised their earnings forecasts. They cite resilient demand, despite the economic uncertainty. K+N's second-quarter earnings, before interest and tax, grew to?381 millions francs, up from?342 million in the previous year, exceeding analysts' median expectations of 356 millions francs. The CEO Stefan Paul stated that "The Kuehne+Nagel Group achieved significant momentum in the 2nd quarter of 2026. This once again demonstrated its ability to position itself successfully in the market."
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Swiss stocks: Factors to be on the lookout for July 23
Here are a few of the major factors that may affect Swiss stocks this Thursday: COMPANY STATEMENTS GIVAUDAN Reports a?H1?net profit?of CHF475 million. CEMBRA MONEY BBANK Reports H1 Net Income CHF 92.3 Million. SFS GROUP Reports H1 adjusted margin of EBIT 13.3%. TEMENOS The company reaffirmed their full-year guidance for 2026 and?2028. KUEHNE UND NAGEL Reports Q2 revenue of?CHF 6600 Million NESTLE H1 results due. H1 results due. Galderma H1 results due. ANALYSTS' ?VIEWS CICOR TECHNOLOGIES LTD : BERENBERG ?CUTS TARGET PRICE TO ?CHF 165 FROM CHF 170 VAT GROUP AG : BERENBERG RAISES TARGET PRICE TO CHF 640 FROM CHF 600 ECONOMY No major Swiss economic data ?scheduled. (Reporting by Zurich newsroom and Gdansk newsroom) |1|For Top News in ?a multimedia Web format on ?Eikon visit: ?https://bit.ly/2NDFd6g FOR RELATED PRICES, NEWS AND OTHER TOPICS, DOUBLE-CLICK ?ON: Daily Swiss stock market ?report in German All SMI constituent stocks DJ STOXX index Top ?10 STOXX sectors Top ?10 EUROSTOXX sectors Swiss ?mid-cap index Swiss all-share index Swiss market digest Sector overview All Swiss news Swiss research news All equity news SPEED GUIDES: |1|
Brazilian soy deliveries to China from 5 companies stopped, sources say
China, the world's biggest soybean purchaser, has actually stopped receiving Brazilian soybean deliveries from 5 entities after freights did not fulfill phytosanitary requirements, 2 sources with direct understanding of the matter informed Reuters on Wednesday.
The suspension comes as Brazil has actually been boosting its share of the world's greatest soybean market at the expense of the no. 2 exporter the United States.
China, which purchases more than 60% of soybeans shipped across the world, now takes more than 70% of its imports of the oilseed from Brazil, consuming into U.S. market share.
With worries of renewed Washington-Beijing trade tensions, China protected almost all of its soybeans from Brazil for first-quarter delivery ahead of Donald Trump taking office as president.
Brazil has from Jan. 8 suspended deliveries to China from Terra Roxa Comercio de Cereais, Olam Brasil and C.Vale Cooperativa Agroindustrial, one of the sources stated.
On Jan. 14, Chinese customizeds suspended deliveries from Cargill Agricola S A and ADM do Brasil, the source added.
There were issues after some cargoes had been discovered with chemical contamination, pests or pests, sources said.
The moms and dad firms of the impacted entities did not instantly react to ask for remark.
China's General Administration of Customs did not react to an ask for remark.
When we try to process clearance on custom-mades' site for soybeans delivered by these five companies, we are unable to proceed, said the 2nd source, a trader at a China-based soybean crusher.
It was unclear how long the suspension would last, although traders expected it to be short-term.
It depends mainly on how rapidly the Brazilian companies can provide evidence that they learnt what was incorrect that caused these inconformities and supply a plan to fix that, the very first source stated.
The suspended companies are systems of a few of the biggest soybean suppliers to China.
We are taking it seriously, an official at one of the affected companies informed Reuters. He decreased to be called due to sensitivities of the problem.
China imported a record 105 million tons of soybeans in 2024.
(source: Reuters)