Tag Archives: Reuters Top News

UPDATE 1-Telefonica is in exclusive talks with investors for the Brazilian fiber unit | Instant News


(Write with COO comments)

MADRID, February 25 (Reuters) – Telefonica is in exclusive talks with financial investors about setting up a joint fiber optic venture in Brazil, Chief Operating Officer Angel Vila said Thursday.

The Spanish telecommunications group plans to expand high-speed fiber-optic coverage to more cities in Brazil, following a similar project launched in Germany in partnership with insurance company Allianz.

“Brazil is the size of a continent. Our capital expenditure (capex) will not reach everything, “Vila told Reuters.

After speaking with many potential partners, the company has held exclusive talks with “international operators with a financial and infrastructure profile”, said Vila, declining to name investors.

Talks have progressed, he added, but “in this situation you can never say 100% that you will sign.”

Previously Vila told analysts that the second phase of development could be done through agreements with fiber owners such as the American Tower.

Telefonica is already using the infrastructure of larger US companies in the Brazilian states of Minas Gerais and Vila said they “may be interested in consolidating” the agreement.

Vila said she could not confirm a Bloomberg News report that exclusive talks were held with Canadian pension fund Caisse de depot el placement du Quebec (CDPQ), due to a confidentiality agreement.

“CDPQ is a top class long-term global investor, that would be very attractive,” he added.

American Tower did not immediately respond to a request for comment. CDPQ could not be reached immediately.

Telefonica plans to hold half of the business through Telefonica and its local branch Telefonica Brasil.

Vila told analysts by conference call that it could expand the unit later through acquisitions.

Telefonica cut its dividend after reporting a 10% drop in previous 2020 earnings on Thursday, although it expects business to stabilize this year. (Reporting by Isla Binnie, Eid by Inti Landauro, Kirsten Donovan)

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Prada reworked the winter classic at Milan Fashion Week | Instant News


MILAN (Reuters) – Italian fashion house Prada reworked its classic wardrobe for fall at Milan Fashion Week on Thursday, with designers Miuccia Prada and Raf Simons saying they were inspired by the idea of ​​change and transformation.

In a video shared online as part of the virtual Milan Fashion Week, models are dressed in layers in various prints and colors as part of the fall / winter 2021-2022 collection.

Prada and Simons, who joined the brand as co-creative directors last year, featured a tight jacquard knit bodysuit in a mixed pattern, which was made to appear as a second skin.

The dark blue and gray striped suit was redesigned as a ruffled short-sleeved jacket worn with a matching skirt or ankle-length trousers.

Models, walking between rooms with marble floors or faux fur, wear coats of bright colors, decorated with sparkling paillettes or with exaggerated sleeves.

Outerwear included faux fur wrapping, re-nylon and sequins, and the oversized, loose bomber jacket. Loose dresses and mostly dark colors.

For the evening there is a black jumpsuit and a long black dress with a patterned collar. The colorful gloves have a small zip wallet on the front.

“In this collection we play with classic ideas – we subvert them, we transform them,” Prada said in a statement.

“There’s a lot more contrast in this collection – retro and futuristic, embellished and minimal, sporting and elegant – because we put them together, put them together, created something that looked new,” added Simons.

Milan Fashion Week, which starts on Wednesday and runs until March 1, is a virtual event this season due to COVID-19 restrictions.

Major Italian fashion names like Giorgio Armani, Dolce & Gabbana and Valentino share videos on digital platforms.

Reporting by Marie-Louise Gumuchian; Edited by Janet Lawrence

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UPDATE 2-Adecco Switzerland sees a steady recovery as COVID restrictions easing | Instant News


* The company sees steady improvements in early 2021

* CFO sees further recovery when restrictions are lifted

* First quarter earnings tend to be flat

* The company continues its 600 million euro share buyback (Update with share prices, analyst and executive comments)

ZURICH, February 25 (Reuters) – Adecco Group sees a steady recovery in the labor market and does not expect the increase to be thwarted by the latest COVID-19 restrictions across Europe, the Swiss employment firm said on Thursday.

Adecco said many entrepreneurs have learned to overcome social distancing rules and other restrictions, while it is hoped that measures to tackle the latest COVID-19 spike will subside.

The company, whose operations help signal the health of the broader economy, said earnings in January and February were close to returning to pre-crisis levels helped by increased hiring in fast-growing areas such as e-commerce and logistics.

“The risk of pulling back is limited,” Chief Financial Officer Coram Williams told Reuters. “We are clearly at a point where the restrictions have become the strictest and the volume is resilient. We should see further restoration and improvement but only if those restrictions are actually lifted. “

Switzerland on Wednesday said it would ease restrictions starting March 1 and Britain has laid out plans to ease the measures, although shops, restaurants and schools remain closed in many European countries.

In January and February, Adecco’s revenue decreased 2% compared to the previous year, an upward trend from a 5% decline in the fourth quarter and a 15% decline in the third quarter.

“We are a good barometer of the economy and we are close to pre-crisis levels if you look at our earnings,” Williams said.

Adecco’s new confidence echoes rivals Randstad and ManpowerGroup who both say they are seeing a steady increase in hiring.

During the fourth quarter, Adecco’s revenue fell to 5.41 billion euros ($ 6.59 billion), beating estimates of 5.27 billion euros in the consensus views of analysts compiled by the company.

Fourth-quarter net profit of 149 million euros beat estimates of 116 million euros. Shares were up 1.6% in early trading.

Williams said Adecco is expected to post revenue growth during the second quarter of this year after a 28% drop in the COVID-hit second quarter of 2020.

Earnings will likely be flat in the first quarter with “little chance of growth,” Williams said.

The company proposed a 2020 dividend of 2.50 Swiss francs, the same rate as 2019, and said it would continue the 600 million euro share buyback scheme that was halted at the start of the crisis.

$ 1 = 0.8214 euros Reported by John Revill; Edited by Michael Shields and Edmund Blair

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British owners Primark warned that sales closed at 1.1 billion pounds | Instant News


FILE PHOTOS: Signs displayed outside the Primark store on Oxford Street, in London, England July 2, 2020. REUTERS / Hannah McKay

LONDON (Reuters) – Associated British Foods warned on Thursday that it is expected to lose 1.1 billion pounds ($ 1.6 billion) of sales from the lockdown of its stores in fast fashion chain Primark in the first half of its financial year.

The group said it expects Primark sales in the first half to February 27 to be around 2.2 billion pounds and an adjusted operating profit slightly above break-even.

Due to restrictions imposed on Primark in the UK and across Europe, Primark expects sales, adjusted operating profit and adjusted earnings per share for the group as a whole to be lower than last year.

But the group said it was looking forward to reopening Primark stores and by Thursday a possible reopening date for 233 stores in addition to the 77 stores already open. About 83% of its retail space will be traded on April 26.

“We expect the period after reopening to be very money-making,” he said.

AB Foods also has a wholesale division, whose brands include Kingsmill bread and Twinings tea, as well as its sugar, agricultural and key ingredients businesses.

It expects revenue and profit in all of these units to be ahead of expectations and in the first half of last year.

AB Foods shares closed Wednesday at 2,437 pence, valuing the business at 19.3 billion pounds.

($ 1 = 0.7064 pounds)

Reporting by James Davey; Edited by Kate Holton

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Astrazeneca denies shortage of vaccine shipments to EU, Italy – paper | Instant News


FILE PHOTO: Oxford / AstraZeneca COVID-19 vaccine box pictured in a refrigerator at the NHS mass coronavirus vaccination center at Robertson House in Stevenage, Hertfordshire, England January 11, 2021. Joe Giddens / Pool via REUTERS // File Photo

MILAN (Reuters) – AstraZeneca will deliver 180 million COVID-19 vaccines to Europe in the second quarter, of which 20 million to Italy, the head of its unit in Italy was quoted as saying on Thursday, dismissing reports of possible shortages.

Lorenzo Wittum, CEO and chairman of Astrazeneca in Italy, told the daily Il Corriere della Sera in an interview that Italy would receive more than 5 million shots by the end of March, less than the 8 million previously agreed, bringing the total to 25 million. dose in June.

Reuters reported on Tuesday, citing an EU official who was directly involved in talks with the Anglo-Swedish drug maker, that AstraZeneca expects to deliver less than half of the COVID-19 vaccines it contracts to supply to the European Union in the second quarter.

Wittum also said pharmaceutical companies were considering the possibility of administering a third dose and were working on a new version of the vaccine.

Reporting by Maria Pia Quaglia, editing by Agnieszka Flak

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