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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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914 dias atrás
U.S. Dollar Higher On Trade Hopes
The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.
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1 dia atrás
Swiss Market Ends On Firm Note On Upbeat Industrial Production Data
After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note.
Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.
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1 dia atrás
European Stocks Close Week On Positive Note
European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.
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1 dia atrás
Canadian Market Recovers After Weak Start; TSX Up Marginally
Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.
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U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May
Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.
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U.S. Import, Export Prices Unexpectedly Inch Higher In April
The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.
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U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply
While the Commerce Department released a report on Friday showing a rebound by new residential construction in the U.S. in the month of April, the report also showed a substantial pullback by building permits during the month.
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