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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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Pred 1021 dňami
European Shares Slide As Inflation Accelerates
European stocks traded lower on Tuesday after Eurostat data showed Eurozone inflation rose to 2.1 percent last month, climbing above the European Central Bank's 2 percent target for the first time since April driven by higher prices for food, alcohol and tobacco.
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Pred 15 minútami
Pound Slides Against Majors
The British pound weakened against other major currencies in the European session on Tuesday.
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Pred 23 minútami
FTSE Edges Lower As Yields Jump On Debt Concerns
U.K. stocks traded lower on Tuesday as the 30-year gilt yield hit a 27-year high at 5.680 percent in early trading on rising debt concerns, in a pre-budget blow for chancellor Rachel Reeves.
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Pred 34 minútami
CAC 40 Marginally Higher With French Politics In Focus
French stocks were marginally higher on Tuesday ahead of a crucial confidence vote in parliament next Monday.
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Pred 48 minútami
DAX Drifts Lower Ahead Of Key Inflation Data
German stocks fell sharply on Tuesday while the euro pulled back from recent highs ahead of Eurozone inflation data due later in the day.
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Pred 1 h 1 min
Yen Slides Amid BoJ Rate Hike Uncertainty
The Japanese yen weakened against other major currencies in the European session on Tuesday, due to the uncertainties surrounding the probable timing of the Bank of Japan's (BoJ) next interest rate hike.
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Pred 1 h 13 min
Asian Shares Give Up Early Gains To End Mixed
Asian stocks surrendered early gains to end on a mixed note Tuesday as technology stocks succumbed to profit taking in China and Hong Kong after a recent powerful rally on AI optimism.
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Pred 1 h 19 min
