Latest news with #supplier
Yahoo
2 days ago
- Business
- Yahoo
Siltronic lowers full-year guidance
(Reuters) -German semiconductor materials supplier Siltronic on Tuesday cut its annual sales guidance, amid continued weakness in its semiconductor business and high customer inventories. The company expects revenue growth in a mid-single-digit percentage range for 2025, having previously forecast sales growth to be in the previous year's region. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
6 days ago
- Automotive
- Reuters
Valeo cuts 2025 sales outlook, sees forex impact of 750 million euros
July 24 (Reuters) - French car parts supplier Valeo ( opens new tab cut its 2025 sales outlook on Thursday, citing an adverse currency impact of 750 million euros. The designer and producer of car components and integrated systems now expects sales of around 20.5 billion euros ($24.1 billion) this year, down from the 21.5-22.5 billion euros it forecast previously.
The Independent
7 days ago
- Business
- The Independent
Philly cheesesteak maker challenged by the ever-rising cost of beef
Ken Silver knows beef because he knows Philly cheesesteak. He hopes that a summer spike in how much he pays for his restaurant's main product doesn't cause heartburn for him or his customers. Silver, president of Jim's South St. in Philadelphia, said the price of beef from his supplier now is about $1 more per pound than it was a year ago. And that is on top of a roughly 50% increase when he reopened in 2024 after a fire — 'crazy,' as he put it. U.S. beef prices have been steadily rising over the past 20 years because the supply of cattle remains tight while beef remains popular. 'Our strategy right now is just absorbing the price and hoping that we see a reduction after the summer months are over, the grilling season and all the rest,' Silver said Wednesday. He said a cheesesteak sandwich at Jim's South St. costs $13.49, up from $11.49 in 2022, when the popular eatery was forced to close for nearly two years because of a fire. Cheesesteaks typically are made with thinly sliced beef, cheese and onions, though other toppings are possible, too. For consumers, the average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago, according to U.S. government data. The average price of all uncooked beef steaks rose 8% to $11.49 per pound. 'We've taken a hit, profitability-wise, just to maintain what our customers would expect to get when they come to us: a reasonably priced cheesesteak of the best quality they can find," Silver said. If supply costs don't ease, Silver said he might have to raise menu prices or declare a market price, which fluctuates and is commonly associated with seafood. 'I really hate to do that,' said Silver, whose father started the business in 1976. A customer, Bryan Williams, suggested a price hike wouldn't discourage him from placing an order. 'That's just how things are going lately,' he said. 'There's really nothing that they can do about it.' ___ White reported from Detroit.
CNA
22-07-2025
- Business
- CNA
Apple supplier Goertek to buy Luen Fung Commercial's units for $1.3 billion
BEIJING :Apple supplier Goertek Inc said on Tuesday it plans to buy two units of Hong Kong's Luen Fung Commercial Holdings for about combined HK$10.4 billion ($1.32 billion). The acquisition of Mega Precision Technology and Channel Well Industrial would help Goertek strengthen competitiveness in the field of precision structural components, the company said in a Shenzhen stock exchange filing. ($1 = 7.8499 Hong Kong dollars)
Yahoo
22-07-2025
- Business
- Yahoo
Apple supplier Goertek to buy Luen Fung Commercial's units for $1.3 billion
BEIJING (Reuters) -Apple supplier Goertek Inc said on Tuesday it plans to buy two units of Hong Kong's Luen Fung Commercial Holdings for about combined HK$10.4 billion ($1.32 billion). The acquisition of Mega Precision Technology and Channel Well Industrial would help Goertek strengthen competitiveness in the field of precision structural components, the company said in a Shenzhen stock exchange filing. ($1 = 7.8499 Hong Kong dollars) Error 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
