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British travel company Thomas Cook expects that following the results of the fiscal year ended September 30, its pre-tax profit fell by £58 million to £250 million. Such a significant drop in profits was caused by the hot summer weather in the country, which did not allow many Britons to travel. Low profit margins also made the British tour operator to refuse to pay dividends for the fiscal year. According to preliminary estimates, the company, nevertheless, expects that its revenue for the year will increase by 6% and will be 9 billion 580 million pounds. During trading on Tuesday, Thomas Cook shares showed a record decline in 7 years, losing 28% in price.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
European stocks sold lower earlier on Thursday as concerns mounted over the pace of a global economic recovery ahead of latest meeting from the European Central Bank (ECB). Germany’s DAX futures fell by 0.5% at 2:05 AM ET (0605 GMT), ...
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