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Burberry's comparable store sales plummet 21% as new boss named
Burberry Group reported on Monday retail revenue of £458 million ($594 million) for the 13 weeks ended June 29, compared to £589 million last year, and announced a new chief executive. Comparable store sales were down 21% for the period. The British luxury group noted that if the slowdown trend continues through the current quarter, it expects a first-half operating loss, and fiscal 2025 operating profit to be below current consensus. The group anticipates wholesale revenue to decline by around 25% in first half and decline by around 30% for the full year. "Our first quarter performance is disappointing. The weakness we highlighted coming into fiscal 2025 has deepened and if the current trend persists through our second quarter, we expect to report an operating loss for our first half. In light of current trading, we have decided to suspend dividend payments in respect of fiscal 2025," said Gerry Murphy, chair of Burberry. Burberry also announced the appointment of Joshua Schulman as chief executive officer and executive director, replacing Jonathan Akeroyd. Joshua was previously CEO of US fashion brands Michael Kors.
Paris Olympics should brace for cyberattacks from Russia, experts say
A Finnish cybersecurity firm expects the Paris Olympics to become the target of an increasing number of cyberattacks, especially by Russian actors, according to a new study released on Monday. Experts at Finland's cybersecurity firm WithSecure said the organizers of this year's Summer Olympics held in Paris should brace for a higher risk of cyberattacks compared to previous editions "due to geopolitical turbulence." In their report, WithSecure point to Russia as the most likely source of cyberattacks, with the experts saying they have identified three groups intent on disrupting the Games: state-sponsored actors, private "hacktivists" and common cybercriminals. "Russian state actors almost certainly...
Airbus and Thales reportedly explore merger of space operations
Airbus and Thales are actively considering a merger of their space activities, which would consolidate Airbus Defence & Space and Thales Alenia Space, French business paper La Tribune reported citing unnamed sources. The report noted that the companies have initiated preliminary discussions involving various tie-up scenarios. At this stage, La Tribune said, all parties involved remain highly cautious about the potential success of these talks, especially given the history of failed attempts to merge their space activities over the past 15 years. Airbus Defence & Space is headquarter in southern Germany, while Thales Alenia Space is based in Cannes, France.
Motor scooter safety: Always be seen - and more essentials
If you've started riding a motor scooter, there are a few things you should bear in mind to make sure that you arrive safely. First of all, you have to wear a helmet, as does any passenger you bring along. It's also important to wear the appropriate clothing. Shoes should be sturdy and reach to the ankle - leave the flip-flops till you get to the beach. If you have a passenger you should explain the most important things before your first ride together: Hold on tight, keep your feet up and keep them on the footrests at the traffic lights. And...
Top German diplomat: West Africa stability key for European security
German Foreign Minister Annalena Baerbock, who is set to travel to West Africa on Monday, is hoping to expand cooperation with Senegal and Ivory Coast in order to prevent instability currently rocking the Sahel from spreading to the rest of the region. "If more countries in West Africa descend into instability, that will not only have dramatic consequences for the local population, but also a direct impact on our security in Europe," the minister said ahead of her two-day visit to the region. Baerbock pointed to Senegal in particular as an important mediator in the region. Senegal and Ivory Coast, who are among...
Nordea Bank's operating profit falls slightly in second quarter
Nordea Bank reported Monday that its second-quarter earnings per share were €0.37 ($0.40), unchanged from a year ago. Operating profit was down 2% to €1.68 billion from last year's €1.72 billion. Profit before loan losses was €1.75 billion, same as the prior year. Total income improved 3% to €3.03 billion from the prior year's €2.96 billion. Net interest income grew 4% and net fee and commission income returned to growth, up 6%. Looking ahead for fiscal 2024, the Nordic financial services group continues to expect return on equity above 15%. "Nordea has a strong and resilient business model with a very well-diversified loan portfolio across the Nordic region. This enables the bank to support its customers and deliver high-quality earnings, with high profitability and low volatility, through the economic cycle," a company statement said.
Wind turbine maker Nordex sees orders up 27% in first half of year
German wind turbine maker Nordex secured 3,357 megawatts (MW) of orders in the first half of the year, reflecting a a 27% increase compared to the previous year. The orders are from the group's Projects segment and excludes its service business. The average sales price in euros per megawatt of capacity (ASP) continued to remain on a stable level of €0.89 million/MW in the first half of this year compared to last year. Jose Luis Blanco, CEO of Nordex Group, said there was "strong demand" for its N163 turbines, both in Europe and globally, which has led the company to "re-affirm our confidence in our order intake plans for the remainder of this year."
Juice jacking: Use a USB condom for safer charging at public ports
When your phone runs out of power while you are away from home, public charging stations can be a lifesaver. However, when you charge your device at public USB ports at airports, malls and on public transport cybercriminals can take advantage to smuggle malware onto your device or to access sensitive data. Known as juice jacking, they will carry out a direct data transfer using the port or manipulate the device's software. The safest way to charge your device when out and about is using your own charger and connecting it to an electrical socket instead of a USB port, says Germany's TÜV Süd association, which tests product safety. Alternatively, you can bring along your own power bank. These external batteries are not only mobile, but also don't transmit any data. There are also USB data blockers available that prevent unwanted access to your device when using public charging stations. Also known as USB condoms, these small devices, which you plug into your phone before plugging it into the charging port, allow power to flow but block data transfers.
Top German diplomat: West Africa stability key for European security
German Foreign Minister Annalena Baerbock, who is set to travel to West Africa on Monday, is hoping to expand cooperation with Senegal and Ivory Coast in order to prevent instability currently rocking the Sahel from spreading to the rest of the region. "If more countries in West Africa descend into instability, that will not only have dramatic consequences for the local population, but also a direct impact on our security in Europe," the minister said ahead of her two-day visit to the region. Baerbock pointed to Senegal in particular as an important mediator in the region. Senegal and Ivory Coast, who are among...
Republican convention opens amid tense aftermath of attack on Trump
The US Republican Party begins its national convention on Monday, setting the stage for Donald Trump to be officially confirmed as the party's candidate for the November presidential election, just days after an attempt on his life. Trump, widely expected to be nominated by party delegates, is also set to name his running mate for vice president at the event in the city of Milwaukee in the US state of Wisconsin. The four-day convention, or RNC, comes just two days after a shooting at a Trump campaign rally sent shockwaves through the United States, just months ahead of Trump's rematch with Democratic...
WHO: Child vaccination rates below pre-pandemic levels
Global child vaccination rates remained below pre-pandemic levels last year, the World Health Organization (WHO) and the United Nations Children's Fund (UNICEF) reported on Monday, raising concerns among experts. In 2023, 84% of children globally were fully vaccinated against diphtheria, tetanus and pertussis - or whooping cough -, a triple vaccination considered a key indicator of child vaccination rates. The figure represents a slight decrease compared to pre-pandemic levels recorded in 2019, according to the report. The number of children without a single dose of the triple vaccination increased to 14.5 million last year, up from 12.8 million before the pandemic began, it...
Republican convention opens amid tense aftermath of attack on Trump
The US Republican Party begins its national convention on Monday, setting the stage for Donald Trump to be officially confirmed as the party's nominee for the November presidential election, just days after an attempt on his life. Trump is also set to name his running mate for vice president at the event in the city of Milwaukee in the Midwestern US state of Wisconsin. The four-day Republican National Convention opens just two days after a shooting at a Trump campaign rally sent shockwaves through the United States and plunged an already tumultuous campaign into dark territory ahead of the November 5 election. Prior...
Spain light up Euro 2024 but other teams and fans also shine
Spain became deserved champions on Sunday as the best team throughout Euro 2024 which set several new records and also provided a rare shared passion on the continent in difficult times. The 2-1 victory over England in the Berlin final was the culmination of the month-long tournament in Germany which overall ran smoothly amid a big security operation. Mostly peaceful fans There were pre-tournament fears owing to geopolitical tensions and a variety of domestic problems in Germany but those ended once the fans arrived. England fans were among those who followed their teams to Germany with tens of thousands, just like the Scots who...
Biden warns of political violence after attack on Trump
Following the attack on his Republican rival Donald Trump, US President Joe Biden has stressed "the need for us to lower the temperature in our politics," calling on the public to "remember, while we may disagree, we are not enemies." "In America, we resolve our difference at the ballot box, not with bullets," Biden said in an address to the nation from the White House on Sunday evening. "The power to change America should always rest in the hands of the people, not in the hands of a would-be assassin," the president said. "You know, the path forward through competing visions of the campaign should always be resolved peacefully, not through acts of violence."
Biden stresses need 'to lower temperature in politics' after attack
In the wake of the assassination attempt on his Republican rival Donald Trump, US President Joe Biden has stressed "the need for us to lower the temperature in our politics," telling the public to "remember, while we may disagree, we are not enemies." "In America, we resolve our difference at the ballot box, not with bullets," Biden said in a formal Oval Office address on Sunday evening - a format typically reserved for moments of crisis and major turning points in the country. "The power to change America should always rest in the hands of the people, not in the hands of...
World's rarest whale washes ashore on New Zealand beach
The world's rarest whale is believed to have washed ashore on a New Zealand beach, the country's conservation authority said on Monday. The whale is so rare that since the 1800s, only six specimens have ever been known to science, the Department of Conservation (DOC) said. The 5-metre long whale, found on July 4 on a beach near Dunedin in the South Island, was believed to be a spade-toothed whale, DOC Coastal Otago operations manager Gabe Davies said. "Spade-toothed whales are one of the most poorly known large mammalian species of modern times," Davies said. "From a scientific and conservation point of view, this...
Israel claims top Hamas leader killed in deadly Gaza airstrike
Israel on Sunday said Rafa Salama, a top commander from the Palestinian Islamist group Hamas, was confirmed killed in a deadly airstrike which the Hamas-run health authorities in Gaza said hit a refugee camp, leaving at least 90 people dead. Hamas meanwhile denied reports that negotiations on a ceasefire and the return of remaining hostages have broken down in the Qatari capital Doha in the wake of the attack. Salama was a key target of Saturday's strike along with Mohammed Deif, the leader of Hamas' military wing in Gaza. The pair have been described by Israel as "masterminds of the massacre on...
Oyarzabal makes history for Spain after injury heartbreak
Mikel Oyarzabal made history for Spain as he scored the winner in the 2-1 victory over England in Berlin on Sunday to secure his team a record fourth European title at Euro 2024. But the goal in the 86th minute also marked a personal moment of redemption for the Real Sociedad captain, who ruptured his anterior cruciate ligament during training in March 2022, which ruled him out of a bid to play at the 2022 World Cup in Qatar. "That's part of it, the injury, everything I've been through... bringing people this immense joy... I'm very happy, very proud of everyone. This...
Spain's Rodri named best player of Euro 2024, Yamal best youngster
Midfielder Rodri from Euro 2024 champions Spain has been voted Player of the Tournament and team-mate Lamine Yamal the best young player on Sunday. Manchester City's Rodri pulled the strings in midfield as La Roja claimed a record fourth continental title with a 2-1 triumph over England. "This is probably the best day of my career. We are European champions, as difficult as that is. We have become Europe's most successful national team," Rodri said. "Previous generations showed us the way. In sport, as in life, when you leave it all out there, you are rewarded." Spain won all seven matches at the tournament...
Classy Spain beat England 2-1 for a record fourth Euro title
Spain lived up to their top billing as they defeated England 2-1 in the Euro 2024 final on Sunday to claim a record fourth continental title and extend England's 58-year big trophy drought by at least another two years. Substitute Mikel Oyarzabal slid into Marc Cucurella's low cross to fire an 86th-minute winner after their 47th-minute opener from Nico Williams was cancelled out by English sub Cole Palmer in the 73rd. Man of the Match Williams' goal was superbly set up by Lamine Yamal who the day after his 17th birthday became the youngest player in a Euro final. The goal ignited Spain...
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