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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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hace 1022
U.S. Factory Orders Slump Roughly In Line With Estimates In July
A report released by the Commerce Department on Wednesday showed an extended slump by new orders for U.S. manufactured goods in the month of July. The Commerce Department said factory orders fell by 1.3 percent in July after plunging by 4.8 percent in June. Economists had expected factory orders to decrease by 1.4 percent.
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hace 8 minutos
Eurozone Private Sector Growth At 1-Year High
The euro area private sector expanded at the fastest pace in a year in August but the overall pace was sluggish as the service sector held back growth, final survey data from S&P Global showed on Wednesday. The HCOB composite output index rose to 51.0 in August from 50.9 in July. The score was slightly below the initial estimate of 51.1.
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hace 1h 23min
Bay Street Likely To Open On Mixed Note
Canadian shares are likely to open on a somewhat mixed note on Wednesday, tracking commodity prices. With some crucial economic data, including jobs data from Canada and the U.S. due later in the week, the mood is likely to remain cautious.
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hace 1h 44min
FTSE Up Nearly 0.6%; Miners Among Top Gainers
The U.K. market remains well placed in positive territory in early afternoon trades on Wednesday, coming back strongly after posting a notable loss in the previous session. Mining stocks are among the prominent gainers.
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hace 2h 32min
CAC 40 Up Nearly 1%; Schneider Electric Rises Over 3.5%
French stocks are up firmly in positive territory on Wednesday, recovering strongly after suffering a setback in the previous session amid concerns over debt sustainability in major economies across Europe and Asia, and political uncertainty in France.
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hace 3h 10min
Sensex, Nifty End Higher After Choppy Trade
Indian shares closed higher on Wednesday despite weak cues from global markets as investors grappled with rising bond yields and renewed trade uncertainty.
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hace 3h 59min
DAX Moderately Higher As Stocks Recover After Recent Tumble
The German market is gaining some ground in positive territory on Wednesday, with several counters attracting buyers after suffering a sharp setback in the previous session amid uncertainty about prospects of growth in major economies in Europe.
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hace 4h 3min
