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PageGroup Issues Profit Warning Amid Weaker Hiring Activity

Due to a cautious prognosis for the years second half and lowerthanexpected recruiting activity in June, British recruiter PageGroup PAGE.L warned of

Due to a cautious prognosis for the years second half and lowerthanexpected recruiting activity in June, British recruiter PageGroup PAGE.L warned of a reduced yearly profit. With a noticeable decrease in new job registrations and interviews as the quarter went on, CEO Nicholas Kirk saw difficult market circumstances throughout Q2. The organisation needed help getting employment offers approved after interviews. June fees showed an 18% decline from the prior year, contributing to a 12% decline in secondquarter gross profit to 224.3 million pounds $287.2 million. In contrast to the 118.8 million pounds recorded in the previous year, PageGroup now projects fullyear operating profit for 2024 to be about 60 million pounds. Read More..

B2B Tech News | 6 days ago         

Dassault Systemes Cuts 2024 Earnings Outlook Amid Customer Caution

Due to contract delays and cautious consumer spending, the French software giant Dassault Systemes lowered its fullyear profitability goal. The busine

Due to contract delays and cautious consumer spending, the French software giant Dassault Systemes lowered its fullyear profitability goal. The business revised its estimate of a 10% to 12% increase in diluted EPS by 2024 to 8% to 11%. With secondquarter revenue projected at about 1.50 billion euros, below the 1.53 to 1.56 billion target, CEO Pascal Daloz emphasised that "large transaction delays" impacted sales. Despite these setbacks, Dassault is confident that the transactions will close in upcoming quarters. However, it recognises that client decisionmaking is still unpredictable, which calls for a more cautious forecast for the entire year. The business, which supplies software to the industrial, aerospace, and automotive industries, has already disclosed a mixed first quarter. Read More..

B2B Tech News | 6 days ago         

Shell Faces $2 Billion Impairment Charge on Singapore Refinery, Biofuel Plant Suspension

Shell SHEL.L said that after selling its refinery in Singapore and stopping work on a sizable biofuel project in Europe, it would face an impairment c

Shell SHEL.L said that after selling its refinery in Singapore and stopping work on a sizable biofuel project in Europe, it would face an impairment charge of up to $2 billion. The British energy business stopped development at the Rotterdam project in the Netherlands, which was initially scheduled to start producing 820,000 metric tonnes of biofuels yearly, citing unfavourable market circumstances. In connection with this decision, Shell expects a noncash, posttax impairment of between $600 million and $1 billion, which will be disclosed in its secondquarter earnings on August 1. Furthermore, Shell anticipates an impairment of between $600 million and $800 million on its chemicals hub and refining facility in Singapore, which it announced for sale in May. Read More..

B2B Tech News | 8 days ago         

Atos Secures €575 Million in ShortTerm Financing

The French technology company Atos reported obtaining $621 million in shortterm financing in two loan tranches totalling €575 million. These compris

The French technology company Atos reported obtaining $621 million in shortterm financing in two loan tranches totalling €575 million. These comprise two revolving loan amounts of €225 million and €350 million, contingent on bondholders amending earlier arrangements. Atos anticipates signing this amendment shortly. Furthermore, the business was granted a waiver by banks about a €1.5 billion term loan. By the end of the month, Atos still hopes to secure a definitive restructuring deal. Read More..

B2B Tech News | 8 days ago         

EUFunded INPHOMIR Project to Enhance Satellite Navigation with UltraLowPower Sensors

Ultralowpower sensors are being developed by an EUfunded collaboration to improve satellite navigation and allow longer drone flights. The INPHOMIR pr

Ultralowpower sensors are being developed by an EUfunded collaboration to improve satellite navigation and allow longer drone flights. The INPHOMIR project intends to develop an optical gyroscope and a customised lidar sensor to increase the price and efficiency of space missions. The €5 million $5.38 million initiative, funded by the Horizon Europe programme, aims to lessen navigational difficulties in challenging environments, including dust and limited visibility. The sensors promise smaller dimensions and increased efficiency by using indium phosphide in photonic integrated circuits. Drones and selfdriving automobiles may ultimately benefit from this technology. Amidst growing satellite traffic and space debris, project supervisor Daniele Palaferri stressed the possibility of better satellite locations and fruitful space exploration. Read More..

B2B Tech News | 8 days ago         

Sodexos Q3 Sales Rise to €6.07 Billion, Slightly Below Expectations

The French food caterer Sodexo had thirdquarter sales that were somewhat lower than anticipated because of a slowdown in China and adjustments to reve

The French food caterer Sodexo had thirdquarter sales that were somewhat lower than anticipated because of a slowdown in China and adjustments to revenue recognition for a few fixedterm contracts in Australia. Revenue missed the target of €6.11 billion, rising 6.8% organically to €6.07 billion $6.51 billion. Due to weaker price impacts, higher comparative numbers, and the second quarters favourable impact from the leap year, organic growth decreased. Sodexo is raising prices to combat excessive inflation, even after it spun off its voucher firm Pluxee in February. This quarters price hikes are less than 4%, compared to almost 5% last year. The business released its expectations for the Augustending fiscal year. Read More..

B2B Tech News | 8 days ago         

Revolut Reports £438 Million Pretax Profit for 2023, Surging from Previous Years Loss

Revolut, a British fintech company, reported a pretax profit of £438 million in 2023 after suffering a £25.4 million loss the year before. This was

Revolut, a British fintech company, reported a pretax profit of £438 million in 2023 after suffering a £25.4 million loss the year before. This was an impressive turnaround for the company. Predictably, revenue exceeded £1.8 billion, fueled by solid user growth and more interestrelated activity revenue. The firm wants to establish itself as the top startup in Europe and aims for a valuation of over $40 billion through a $500 million share sale. Revolut is still awaiting permission to obtain a UK banking licence after applying three years ago CEO Nikolay Storonsky is optimistic about the outcome. Due to investor apprehension following the epidemic, the fintech industry in Britain is under more scrutiny, emphasising how crucial it is for businesses like Revolut to show consistent profitability and regulatory compliance. Read More..

B2B Tech News | 8 days ago         

Atos Finalizes Agreement for Debt Restructuring, Plans Capital Increase and Debt Conversion

The French technology giant Atos ATOS.PA has made significant progress in its financial recovery efforts by finalising an agreement with a group of ba

The French technology giant Atos ATOS.PA has made significant progress in its financial recovery efforts by finalising an agreement with a group of banks and bondholders about its debt restructuring plan. The restructuring strategy includes a capital increase of 233 million euros $250 million through preferential subscription rights. Atos net indebtedness will be drastically reduced by approximately 3.1 billion euros once approximately 2.8 billion euros of its debt is converted into equity, totalling 2.9 billion euros. After ending talks with investor David Layanis Onepoint consortium last Wednesday, Atos hopes to finalise the restructuring deal by July. Read More..

B2B Tech News | 8 days ago         



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