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Pernod Ricard reports profit fall, cuts 900 jobs PARIS: Drinks giant Pernod Ricard reported a fall in annual profits on Thursday, blaming in part a sales slowdown in China, and cut 900 jobs worldwide.Net profit over 12 months to the end of June fell by 14.0 percent to 1.02 billion euros ($1.35 billion), and sales fell by 7.0 percent to 7.94 billion euros.Operating profit fell by 8.0 percent to 2.05 billion euros.The price of shares in the group was showing a gain of 2.25 percent to 90.04 euros in early trading.After the results statement, the group said at a press conference that it would shed 900 jobs around the world, of which fewer than 100 would be shed in France, as part of a cost-cutting programme.The group employs 19,000 people throughout the world of whom 2,800 work in France.Pernod Ricard, a French group ranking number two in the world's spirits drink industry after Diageo of Britain, owns the ...

German joblessness up slightly in August, rate steady at 6.7pc BERLIN: German unemployment posted a small but unexpected increase in August but the jobless rate held steady at just 6.7 percent, the Labour Office said on Thursday, suggesting the job market in Europe's largest economy remains intact. The number of people out of work increased by 1,000 to 2.901 million, seasonally-adjusted data showed. The mid-range forecast in a Reuters poll had been for a drop of 5,000.Copyright Reuters, 2014

German jobless rate unchanged in August: data FRANKFURT: Unemployment in Germany stagnated in August, as clouds continue to build over Europe's biggest economy, official data showed on Thursday. The unemployment rate stood at 6.7 percent in seasonally adjusted terms in August, unchanged from July, while the number of people registered as unemployed edged up by 2,000, the Federal Labour Office said in a statement.That took analysts by surprise. They had projected a decline of around 5,000. "The German economy shrank by 0.2 ...

Indonesia cuts Sept palm export tax to 9pc JAKARTA: Indonesia, the world's top producer of palm oil, lowered its export tax for crude palm oil to 9 percent for September from 10.5 percent in August, an industry ministry official told Reuters on Thursday. For cocoa, the government left the export tax unchanged at 10 percent, said Abdul Rochim, director of food and fisheries industry at Industry Ministry.Copyright Reuters, 2014

EU awards 164,000 T Ukrainian wheat imports this week PARIS: The European Union this week awarded licences to import 164,000 tonnes of Ukrainian wheat under a duty-free quota created this year as part of a trade deal between the bloc and Kiev, data from French farm office FranceAgriMer showed on Thursday. The award leaves around 18,614 tonnes Ukrainian wheat available under the quota, which was opened in April and allowed for 950,000 tonnes of Ukrainian wheat to be imported by Oct. 31.An equivalent quota ...

Greece's PPC H1 net profit drops 24pc, hurt by provisions ATHENS: Greece's dominant power utility PPC reported a bigger/smaller-than-expected drop in first-half net profit, weighed down by increased provisions for overdue bills and tariff cuts. Net profit dropped 24 percent to 96.3 million euros (127 million US dollar), down from 127.1 million euros in the same period last year, the company said on Thursday. Analysts in a Reuters poll had forecast on average a net profit of 105.9 million euros. Bad debt provisions rose 32 ...

Indonesia, Australia sign deal to end spying row NUSA DUA: Indonesia and Australia on Thursday signed an agreement aimed at drawing a line under a damaging espionage row and paving the way for the resumption of full cooperation on issues such as defence.Ties between the neighbours sank to their lowest point in years in November after reports that Australian spies tried to tap the phones of President Susilo Bambang Yudhoyono and his inner circle.Jakarta recalled its ambassador from Canberra and suspended cooperation in ...


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