France's Atos sets 10 billion euro target for annual revenue in new strategic plan
May 14 (Reuters) - French IT group Atos (ATOS.PA), opens new tab unveiled a new, four-year strategic plan on Wednesday, aiming for up to 10 billion euros ($11 billion) in annual revenue in 2028, with an operating margin of 10%.
($1 = 0.8939 euros)
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Reuters
40 minutes ago
- Reuters
Falling LME copper stocks inflate premium for nearby contracts
LONDON, June 6 (Reuters) - Concerns about the nearby supply of copper on the London Metal Exchange (LME) due to falling stocks in LME-registered warehouses has created a premium for nearby contracts against those with longer maturities. The discounts for nearby LME copper contracts against longer dated forwards flipped into premiums a month ago as higher COMEX prices than on the LME continued to attract metal. The premium of the cash LME copper contract over benchmark three-month futures was last at $75 per ton after jumping to $93 on Thursday's close, highest in two and a half years. This compares with a discount of $63 in early April. "The backwardation indicates that there is some kind of a shortage. Because normally it is in contango," said Dan Smith, managing director at Commodity Market Analytics. Total copper stocks in the LME warehouse system have halved since mid-February to 132,400 tons, the lowest in almost a year. Available stocks, those not marked for delivery, at 54,600 tons are the lowest since July, 2023. The sharp move in the spread on Thursday was caused by fresh cancellations in LME stocks, said Alastair Munro, senior base metals strategist EMEA, at broker Marex. The premium eased on Friday as there were no major new cancellations of warrants, title documents that confer ownership, in Friday's data, he said, even though stocks kept on leaving the LME-registered warehouses. Fuelling worries are recent mine supply disruptions and traders diverting copper metal to the U.S. while Washington investigates the potential for import tariffs on copper. Even though there is no dominant holder of the LME copper warrants ahead of the expiry of contracts on the third Wednesday of the month - something which could concern the market, as of June 4 one party held more than 90% of copper cash contracts, helping to keep the premium elevated.
Powys County Times
42 minutes ago
- Powys County Times
Call for firms to enter Powys Business Awards 2025
Business leaders attending the launch of this year's prestigious Powys Business Awards were encouraged to collaborate with Powys County Council to grow the economy and create jobs. Council leader Councillor Jake Berriman declared 'Powys is open for business' and outlined the investment made by the authority. 'If we want Powys to grow then we need to invest in businesses like yourselves so that we can continue to provide employment for a healthy economy,' he told the awards launch at Themes Restaurant, NPTC Newtown Campus on Friday. 'The more we do together, the better.' He revealed that the council's £1 million Powys local business growth grant fund had generated £10m investment and had created 200 jobs. He also revealed that a field alongside NPTC Newtown Campus will be developed as an advanced manufacturing centre which he described as 'a place for innovation and learning'. 'When you come into Newtown and see what is happening here, it's so dynamic,' he added. This year's Powys Business Awards will have a dozen categories, including the new Business-Education Partnership Award Sponsored by Mid Wales Regional Skills Partnership. This award recognises best practice and collaboration between employers and educational establishments. The existing partnership must have been created in the last three years, have made a significant impact on student achievement and the school and demonstrate sustainability and innovation. Teresa Peel-Jones, Mid Wales Regional Skills Partnership employer engagement officer, said businesses across Powys and Ceredigion were keen to engage with school pupils much earlier so that they can make informed career choices. 'The employer link is crucial and that's why we are going to develop that relationship with schools,' she added. 'There is going to be a consistent approach from now on.' The other Powys Business Awards categories are: Start-up Business Award, sponsored by EvaBuild Entrepreneurship Award, sponsored by Welshpool Printing Group Micro Business Award (less than 10 employees), sponsored by Myrick Training Services Growth Award, sponsored by WR Partners Small Business Award (under 30 employees) sponsored by BCRS Business Loans Social Enterprise/ Charity Award, sponsored by RWE Technology & Innovation Award, sponsored by Aberystwyth University People Development Award, sponsored by NPTC Group of Colleges Sole Trader Award, sponsored by The County Times Business in the Community Award, sponsored EDF Excellence in Sustainability Award, sponsored by the Wesh Government. The overall Powys Business of the Year is sponsored by Powys County Council, whilst the Judge's Award is sponsored by the awards organiser, Mid Wales Manufacturing Group (MWMG). Ceri Stephens, group manager of MWMG, said the award categories had been selected to showcase the diverse range of successful enterprises across Powys. 'There is something for everyone regardless of size or sector, to highlight and celebrate the excellent businesses that we have here in Powys,' she stressed.
Reuters
an hour ago
- Reuters
China says it is working with France on trade differnces, no sign yet of a cognac deal
BEIJING/PARIS, June 6 (Reuters) - China and France have agreed to resolve their trade disputes through dialogue, China's foreign ministry said on Friday, though there was no indication that agreement had been reached in talks on lifting Chinese levies on European brandy. Talks to resolve the cognac dispute accelerated this week with China's commerce minister Wang Wentao meeting his French counterpart in Paris on the sidelines of an OECD conference, and technical talks on the matter taking place in Beijing. The latest round of negotiations have raised hopes of a settlement, two industry sources with knowledge of the discussions said. "The two sides have reached consensus on resolving economic and trade issues through dialogue and consultation", the Chinese foreign ministry said after a call between the Chinese and French foreign ministers. Chinese anti-dumping measures that applied duties of up to 39% on imports of European brandy - with French cognac bearing the brunt - have strained relations between Paris and Beijing. The brandy duties were enforced days after the European Union took action against Chinese-made electric vehicle imports to shield its local industry, prompting France's President Emmanuel Macron to accuse Beijing of "pure retaliation". The Chinese duties have dented sales of brands including LVMH's ( opens new tab Hennessy, Pernod Ricard's ( opens new tab Martell and Remy Cointreau ( opens new tab. Beijing was initially meant to make a final decision on the duties by January, but extended the deadline to April and then again to July 5. China is seeking to strengthen trade ties with the 27-member bloc as relations with the United States have soured in the escalating trade war. "France will not compromise on ... the protection of its industries, such as cognac," French trade minister Laurent Saint-Martin said after talks with Wang on Wednesday. Chinese officials, meanwhile, signalled to industry officials during three rounds of technical meetings in Beijing this week they wanted to settle the matter, one of the sources said, but added some sticking points remained. With annual imports of around $1.7 billion last year, China is the French brandy industry's most important measured by value and the second-largest by volume after the United States.
