Vitol CEO Says Net Zero May Be Too Costly a Target for Europe
European governments should be realistic about the costs to consumers and industry from pursuing strict net-zero emissions goals, according to the head of the world's biggest independent oil trader.
Vitol Group Chief Executive Officer Russell Hardy pointed to the UK's ambitious clean power grid plan, which targets at least 95% of low carbon generation by 2030. Even 95% may be too ambitious, he said in an interview, arguing that there are trade offs to be made once all the 'cost effective and manageable' changes have been implemented.
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Time Business News
19 minutes ago
- Time Business News
Uniform: The Fabric of Identity, Safety, and Brand
Whether stitched from flame-resistant twill for refinery crews or fashioned into sleek blazers for airline staff, a Uniform is never 'just clothes.' It is a strategic tool that unites employees, projects brand values to customers, and delivers task-specific performance every single shift. As workplaces evolve, so do the demands we place on uniforms—demands that now include sustainability, inclusivity, and digital integration. Uniforms date back to ancient armies, whose standardized armor signaled allegiance and reduced battlefield confusion. In the 17th century, European navies formalized dress codes to enforce hierarchy and discipline. The Industrial Revolution introduced protective overalls and aprons, safeguarding factory workers from mechanized hazards. By the 20th century, service industries—hotels, airlines, cinemas—recognized the marketing power of consistent attire, turning employees into on-the-go billboards that reassured customers at first glance. Color palettes, trim details, and embroidered logos extend corporate identity beyond signage and websites. A well-crafted uniform instantly distinguishes staff on a busy sales floor or bustling tarmac, reinforcing the promise of reliability and professionalism. Technical textiles wick moisture in hot kitchens, repel chemicals in laboratories, and stretch with warehouse pickers' every reach. Strategic pockets, tear-resistant seams, and ergonomic tailoring translate directly into productivity—and sometimes into life-saving protection. When employees suit up in matching apparel, socioeconomic distinctions recede and a shared mission comes to the fore. Studies show that teams in uniform report higher feelings of belonging, which in turn correlate with lower turnover and stronger collaboration. Visual cues matter. A pharmacist's coat telegraphs expertise; a security guard's blazer communicates authority. By clarifying roles, uniforms streamline service interactions and elevate customer confidence. Selecting material is a science: cotton-poly blends for breathability and durability in retail, inherent FR fabrics for oil and gas, or recycled polyester for eco-conscious brands. Adding elastane enhances movement, while antimicrobial finishes keep hospital scrubs fresh through long shifts. Blues evoke dependability (think airlines); greens suggest wellness (spas, organic grocers). High-visibility neon accents or reflective tape keep roadside crews safe without sacrificing corporate aesthetics. Progressive companies offer multiple silhouettes—classic, tapered, maternity—and size ranges from XXS to 5XL. Adjustable waistbands, hidden gussets, and modular layering pieces ensure every body type feels respected and ready to work. Subtle tone-on-tone embroidery, signature buttons, or custom lining printed with company mottos elevate garments from utilitarian to iconic. The trick is striking a balance: enough branding for recognition without overwhelming practicality. Stakeholder Workshops – Gather insights from frontline staff to identify pocket placement needs, climate concerns, and cultural sensitivities. Prototype Testing – Distribute pilot sets, then survey wearers on comfort, durability, and laundering results. Iteration here prevents costly mass-production missteps. Phased Deployment – Roll out by department or location to manage inventory and gather real-time feedback for final tweaks. Digital Size Portals – Online self-measurement tools or 3-D body-scan kiosks slash fit errors and simplify reorders. Clear Care Guidelines – Printed tags and mobile app reminders ensure garments are laundered correctly, preserving colorfastness and protective properties. Lower-Impact Textiles : Recycled PET yarn, organic cotton, or Tencel™ fibers reduce water use and landfill waste. : Recycled PET yarn, organic cotton, or Tencel™ fibers reduce water use and landfill waste. Extended Life Cycles : Reinforced stress points, color-fast dyes, and repair programs keep pieces in rotation longer. : Reinforced stress points, color-fast dyes, and repair programs keep pieces in rotation longer. Circular End-of-Life Plans : Take-back schemes turn retired uniforms into insulation, carpet backing, or regenerated yarn, closing the material loop. : Take-back schemes turn retired uniforms into insulation, carpet backing, or regenerated yarn, closing the material loop. Transparent Supply Chains: Certifications like OEKO-TEX® and Fair Wear Foundation help companies verify that uniforms protect both employees and garment workers. 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Yahoo
38 minutes ago
- Yahoo
Biotalys Reports Progress in the Regulatory Review of EVOCA in both US and EU
US EPA projects taking a regulatory decision by end of September 2025; Dutch authorities finalise first phase of regulatory dossier for EVOCA in Europe Ghent, BELGIUM, June 11, 2025 (GLOBE NEWSWIRE) -- Press release Biotalys (Euronext - BTLS), an Agricultural Technology (AgTech) company developing protein-based biocontrols for sustainable crop protection, is pleased to announce progress in the regulatory approval procedures in both the United States and Europe of its first protein-based biocontrol product, EVOCA™*. In the US, Biotalys received a communication from the Environmental Protection Agency (EPA) that the company has provided responses to all the agency's requests for additional information. The EPA currently projects it will complete the scientific review of the EVOCA dossier later this summer and make a regulatory decision by September 30th, 2025. In Europe, Biotalys is pleased to confirm that both the Dutch Board for Authorisation of Plant Protection Products (CTGB) and the Dutch Institute for Health and Environment (RIVM) have now provided positive evaluations of EVOCA's regulatory dossier, paving the way for the peer review phase at the European level. In their review, both Dutch authorities have classified EVOCA's active ingredient as low risk based on the current data. This classification is important as it recognizes the active ingredient's safety profile and aligns with Biotalys' commitment to delivering sustainable, effective solutions for crop protection. No critical areas of concern were identified and therefore the Netherlands, as rapporteur Member State, proposes that the active ingredient of EVOCA can be approved in Europe, subject to the provision of certain additional data during the peer review phase. Biotalys' current assessment is that a regulatory decision in the European Union can be expected in the second half of 2026. Kevin Helash, Chief Executive Officer of Biotalys, said: 'We are pleased with the regulatory progress in both the US and EU, and look forward to a favorable outcome. An approval decision would be a major milestone for our company and a validation for our unique AGROBODY™ technology platform. This platform has the potential to develop many more protein-based biocontrol solutions for growers to fight key pests and diseases in agriculture. I am very grateful for the thorough review and guidance by the regulatory agencies, and for the hard work by our team to generate and provide the required scientific data on our innovative product.' The first biocontrol developed on Biotalys' AGROBODY™ technology platform, EVOCA helps safely control fungal diseases Botrytis (grey mold) and powdery mildew for fruit and vegetable growers looking to add effective, biodegradable solutions to their integrated pest management (IPM) initiatives to reduce chemical applications.* EVOCA™: Pending Registration. This product is not currently registered for sale or use in the European Union, the United States or elsewhere and is not being offered for sale. About Biotalys Biotalys is an Agricultural Technology (AgTech) company developing protein-based biocontrol solutions for the protection of crops and aiming to provide alternatives to conventional chemical pesticides for a more sustainable and safer food supply. Based on its novel AGROBODY™ technology platform, Biotalys is developing a strong and diverse pipeline of effective product candidates with a favorable safety profile that aim to address key crop pests and diseases across the whole value chain, from soil to plate. Biotalys was founded in 2013 as a spin-off from the VIB (Flanders Institute for Biotechnology) and is listed on Euronext Brussels since July 2021. The company is based in the biotech cluster in Ghent, Belgium. More information can be found on For further information, please contact: Toon Musschoot, Head of IR & CommunicationT: +32 (0)9 274 54 00E: IR@ Important Notice Biotalys, its business, prospects and financial position remain exposed and subject to risks and uncertainties. A description of and reference to these risks and uncertainties can be found in the annual report on the consolidated annual accounts published on the company's website. This announcement contains statements which are "forward-looking statements" or could be considered as such. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'aim', 'believe', 'estimate', 'anticipate', 'expect', 'intend', 'may', 'will', 'plan', 'continue', 'ongoing', 'possible', 'predict', 'plans', 'target', 'seek', 'would' or 'should', and contain statements made by the company regarding the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are warned that none of these forward-looking statements offers any guarantee of future performance. Biotalys' actual results may differ materially from those predicted by the forward-looking statements. Biotalys makes no undertaking whatsoever to publish updates or adjustments to these forward-looking statements, unless required to do so by in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
44 minutes ago
- Yahoo
Fnac Darty unveils Beyond everyday, its 2030 strategic plan, to accelerate the rollout of its pioneering model on the European market
Ivry-sur-Seine, June 11, 2025, 7:00 AM CEST Fnac Darty unveils Beyond everyday, its 2030 strategic plan, to accelerate the rollout of its pioneering model on the European market Since 2021, Fnac Darty has successfully implemented its strategic plan Everyday to transition toward a more omnichannel, service-oriented and sustainable model These solid foundations will enable the Group to implement three complementary strategic pillars: Becoming the benchmark player in high-value-added products and accelerating the rollout of subscription-based home services with circularity at the core. Setting market standards for customer experience at all touchpoints. Applying the Group's expertise to the benefit of partners and in all geographical locations. Fnac Darty has set the following objectives for the 2025–2030 period: Nearly 4 million subscribers for all services combined by 2030. An operating margin over 3% by 2030. A cumulative free cash-flow from operations1 for 2025–2030 over €1.2 billion. A dividend policy revised upward: payout rate of at least 40% and a minimum dividend per share of €1 per year. With the Everyday plan, Fnac Darty has transformed itself by achieving extensive development of the subscription-based service model, by making sustainability a core part of its vision, by devising and launching new levers for growth, and, finally, by expanding its European footprint with the integration of Unieuro. Fnac Darty will build on the foundations laid by this profitable growth as it embarks upon a new stage of its development with the aim of consolidating its omnichannel and service-based model on a European scale. With Beyond everyday, Fnac Darty is continuing to innovate in the interests of its purpose, which is the cornerstone of all its initiatives: to enable its customers to make educated choices and guide them toward more sustainable consumption. Enrique Martinez, Chief Executive Officer of Fnac Darty, said: 'Building on the success of the plan Everyday, which is nearing its conclusion, I am very proud to be unveiling today our new plan Beyond everyday, which will sustainably strengthen our leadership in our markets and set new standards for a commerce that matters. This plan will allow us to expand and broaden our service model in Europe, with circularity at the core, to make ourselves the benchmark for customer experience at all touchpoints, to go beyond the traditional borders of retail by deploying our services on a large scale for third-party partners. We will rely on the extraordinary commitment of our teams, who work every day to ensure our mission is meaningful. Beyond everyday sets us on an ambitious course for 2030 to accelerate the deployment of our model with a commitment to generating positive impacts for our customers and partners, driving momentum across our entire industry, and promising sustainable value creation for our shareholders.' Becoming the benchmark player in high-value-added products, and accelerating the rollout of subscription-based home services with circularity at the core Fnac Darty aims to drive growth toward premium, innovative and sustainable products by extending their life spans through services, while maintaining its carbon footprint reduction commitments. This pillar is built on: Continuous optimization and renewal of the offering to gain market share and improve profitability by developing products and services adapted to new uses: beauty tech, entertainment, cultural exclusives, partnerships and licenses for games and leisure, etc. A significant breakthrough in subscription-based services. Moving beyond Darty Max's classic model, the objective is to reach approximately 4 million subscribers across all services by 2030 by expanding offerings, investing in new channels and markets, and diversifying – starting with a step into the energy sector – to make Fnac Darty a genuine assistant and partner for its customers in their everyday lives, homes and leisure activities. Strengthening of Fnac Darty's commitment to repairability. The objective is to increase the number of products repaired from 2.6 million to 3.5 million by 2030. Reiteration of the Company's ambitious carbon footprint reduction target. The Group is maintaining its target of a 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030, compared to 2019. Setting market standards for customer experience at all touchpoints Fnac Darty aims to set new standards in terms of sales experience by seamlessly integrating the physical and digital worlds. The objective is to provide a seamless and personalized experience that is consistent across all customer touchpoints to boost retention and loyalty. The Group also aims to expand its customer base and consolidate its positions at the European level. This will involve: Reaffirming the position of stores at the core of the Fnac Darty model. This model will be reinforced by a plan to renovate over 200 stores and open 150 new stores during the timeframe of the plan. Geographic expansion and consolidation, by strengthening and stabilizing the number 1 and number 2 positions, maximizing customer contact points (offline and online), while expanding the addressable market with increased activity aimed at professionals' clients. Aiming to set new standards in terms of digital and social customer experience by making journeys increasingly fluid, intuitive and personalized, and by developing new concepts and new ways of interacting with customers. Investing in employee training. The internal academies, which have already trained several thousand employees, will offer new modules dedicated to AI, new product ranges and hybrid customer journeys. The objective is to equip teams with all the skills they need to master new tools and free up their time for high-value-added tasks, and to continue offering outstanding customer the Group's expertise to the benefit of partners and in all geographical locations Fnac Darty wants to accelerate the sale of services to businesses by leveraging on its unique marketplace and logistics expertise through customer relationship management solutions, while also harnessing its experience and the strength of its physical and digital network in retail media. Fnac Darty's aim is to monetize its expertise and its assets, which are among the best on the market, by putting them at the service of third-party players. As such, the aim is to: Accelerate the rollout of Weavenn, a company created with CEVA Logistics, dedicated to marketplace operations, to offer an increasingly efficient fulfillment experience, regardless of the vendor partner, and increase the number of Saas contracts. Increase focus on omnichannel Retail Media, with the target of representing 2% of total Group sales by 2030, by developing under-exploited and emerging segments, and extending this strategy throughout Europe. Consolidate Fnac Darty's position as a central player in the cultural ecosystem by offering high-value-added services for publishers, artists, booksellers and other players in the sector; by holding events on behalf of third parties; by supporting bookstore digitalization and operating commercial microsites on behalf of artists (Direct-to-fans). Broaden partnerships with third-party companies, such as in the insurance sector, where the Group is responsible for the management of repairs and replacement of damaged goods. These activities illustrate Fnac Darty's ability to harness its technical expertise and provide concrete solutions to its partners' sustainability challenges. Group objectives 2025-2030 In line with this vision, and assuming that no major changes occur as regards the macroeconomic, geopolitical and fiscal environment, Fnac Darty today announces its financial targets for the 2025–2030 period: The operating margin is expected to increase to at least 3% by 2030. The Group expects to generate cumulative operational free cash-flow2 of at least €1.2 billion over the period. With a level of debt that will remain under control in the long term and target leverage of 1.5x 3 in the medium term, Fnac Darty will pursue a capital allocation strategy that maximizes shareholder value. The Group will give priority to financing profitable organic growth, and to paying a dividend with a payout ratio of at least 40% and a minimum dividend of €1 per share per year. The Group may also carry out M&A transactions or pay a special dividend if results allow. The ambitious environmental and social objectives of the plan Everyday remain in place: 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030, compared to 2019. Proportion of women in the leadership group (Top 200) of over 40% by 2030. With Beyond everyday, the Group is also expressing its commitment to value-sharing and wants its employee shareholders to represent 5% of its equity. KEY FIGURES 2030 Nearly 4 million subscribers for all services combined by 2030 (vs 1.9 million in February 2025). Contribution of services to the Group's gross margin up from 25% to 30%, and contribution of subscription-based services to B2C gross margin increased from >60% to >80%. Cumulative free cash-flow1 for 2025–2030 of >€1.2 bn. Operating margin >3% by 2030 (+100 basis points vs 2024PF). Average CapEx for 2025–2030 of approximately €200 million per year (vs ~€160 million in 2024PF). Improved shareholders' return policy: payout rate up from 30% to 40%, dividend-per-share floor of €1 per year. Target financial debt ratio kept at 1.5x2. 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030 compared with 2019. Feminization rate of the leadership group (Top 200) of over 40% by 2030. Employee shareholding: 5% of capital by 2030. Fnac Darty is holding its Investor Day 2025 today at 9:30 (Paris time). The presentation will be streamed live at this link. Later, you can listen to the recording on the website: press release contains certain forward-looking statements. Although Fnac Darty believes that its forecasts are based on reasonable assumptions, the actual results may differ significantly from the forward-looking statements due to various risks and uncertainties, as described in the Company's Universal Registration Document ('Risk factors' section, the latest version of which is available at About Fnac Darty: Fnac Darty is a European leader in the omnichannel retail of consumer electronics and domestic appliances, culture and leisure products. Operating in 14 countries, it employs nearly 30,000 employees and has a multi-format network of more than 1,500 stores, with a strong web position and a growing number of subscribers to its services. Fnac Darty's revenue was over €10.5 billion in 2024 on the new perimeter including the Italian leader Unieuro. With its 2030 plan Beyond everyday, Fnac Darty is expanding its European footprint and deepening its shift towards a model focused on omnichannel, services, and circularity. For more information: CONTACTSANALYSTS/INVESTORSDomitille Vielle – Investor Relations Director – – +33 (0)6 03 86 05 02Laura Parisot – Investor Relations Manager – – +33 (0)6 64 74 27 18 PRESSBénédicte Debusschere – Media Relations and Influence Director – – +33 (0)6 48 56 70 71DEFINITIONS OF ALTERNATIVE PERFORMANCE INDICATORS Indicator name Indicator definition Free cash-flow from operations excluding IFRS 16 Free cash-flow from operations, including cash impacts relating to rent within the scope of application of IFRS 16. Free cash-flow from operations This financial indicator measures net cash-flow from operating activities and net cash-flow from operating investments (defined as acquisitions and disposals of property, plant and equipment and intangible assets, and the change in trade payables for non-current assets). The application of IFRS 16 significantly changes the Group's free cash-flow from operations. 2024 pro forma The pro-forma data comprises the sum of the Group's reported data (12 months Fnac Darty + 1-month Unieuro) and the Unieuro data from January to November 2024 (11 months) for the income statement only. Current operating income Fnac Darty uses the current operating income as the main operating balance. It is defined as the difference between the total operating income and the 'Other non-current operating income and expenses.'Current operating income is an intermediate line item intended to facilitate the understanding of the entity's operating performance that can be used as a way to estimate recurring performance. This indicator is presented in a manner that is consistent and stable over the long term in order to ensure the continuity and relevance of financial information. 1 Excluding IFRS 162 Net debt to EBITDA (IFRS 16) at the end of DecemberAttachment 20250611_Fnac Darty_Beyond everyday_EN_vDefError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
