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Group 1 Automotive To Cut U.K. Headcount By Approximately 10% - Update
(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, Group 1 Automotive, Inc. (GPI) President and Chief Executive Officer Daryl Kenningham said the automotive retailer expects to cut its U.K. headcount by approximately 10 percent as it focuses on reducing costs in the U.K. in the first quarter of 2024.
"We continue to execute well in this evolving U.S. market. We experienced challenges in our U.K. operations during the current quarter with used vehicles and recognize we have some work ahead of us to bring our costs back in-line with recent trends," added Kenningham.
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Group 1 Automotive Boosts Dividend, Stock Repurchase Authorization
Automotive retailer Group 1 Automotive, Inc. (GPI) announced Wednesday its board of directors increased the Company's common stock repurchase authorization by $161 million to $200 million. The Company expects that any repurchase of shares will be funded by cash from operations. Repurchased shares will be held in treasury.
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Před 1021 dny
Domino's Launches Two New Delectable Bread Bites Flavors
Domino's Pizza, the largest pizza company in the world, announced the launch of two new Bread Bite flavors: Cinnamon and Garlic, to join Domino's Parmesan Bread Bites, adding to its line of oven-baked mouthwatering options for customers to enjoy.
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Před 9 minutami
U.S. Manufacturing Index Inches Up In Line With Estimates In August
The Institute for Supply Management released a report on Tuesday showing a slight increase by its reading on U.S. manufacturing activity in the month of August, although the index still indicated the sixth consecutive month of contraction.
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Před 11 minutami
FTSE 100 Slips As Yields Spike, Sterling Plunges
The FTSE 100 benchmark of the London Stock Exchange dropped close to a percent amidst renewed concerns about the fiscal situation in the U.K.
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Před 58 minutami
CAC 40 Slips Amidst Fiscal Concerns
A renewed focus on the fiscal situation in France dampened sentiment for the CAC 40 benchmark that tracks the 40 largest French stocks based on the Euronext Paris.
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Před 2 h 6 min
DAX Dips As Inflation Spike Hurts Sentiment
The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange is trading deep in the red amidst a higher-than-expected level of inflation reading from Euro Area.
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Před 3 h 8 min
Sensex, Nifty Give Up Early Gains To End Lower
Indian shares gave up early gains to end lower on Tuesday ahead of the upcoming two-day Goods and Services Tax (GST) Council meeting later this week.
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Před 4 h 3 min
Pound Slides After UK Starmer's Reshuffle
The British pound weakened against other major currencies in the European session on Tuesday, amid rising concerns about the UK government's ability to maintain fiscal discipline.
In order to meet her fiscal goals, Chancellor Rachel Reeves is anticipated to increase taxes in her autumn budget, which could likely weigh on economy.
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Před 4 h 17 min
