Chairman says weak dollar, one-off costs have hit group
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HONG KONG (CBS.MW) -- British pest control and office services group Rentokil warned investors Tuesday to expect weaker results next year and said 2004 profit would be hurt by the soft US dollar and one-off costs.
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The European Union&#39;s economy commissioner said in a newspaper interview Friday the bloc is worried about the low level of the dollar against the euro.
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BERLIN  - The world's top finance officials stopped well short of expressing serious concern about the plunging U.S. dollar at a weekend meeting, although they issued a call for "steps toward greater exchange-rate flexibility" in Asia's emerging economies.
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Facing continued top-line weakness, the company may have to cut costs.
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The dollar was near record lows against  the euro and its lowest level since March 2000 versus the yen  on Monday after a meeting of the Group of 20 rich and  developing nations suggested no effort to stem the dollar's  decline.
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Media group Reuters blames the weak dollar for an 11% fall in revenues , but  it sees annual profits rise to Â£198m.
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THE dollar reversed yesterday&#39;s modest gains to open more than half a US cent weaker today, weighed down on news Axa Asia Pacific had knocked back a takeover proposal from its French parent.
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The results for the current quarter came in slightly below expectations and the company sounded a note of caution on the global economy.
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The dollar weakened across the board  on Thursday, forging new lows as a deepening sense of gloom  over the U.S. economic and external deficit picture weighed on  sentiment, analysts said.
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The dollar remained weak against major currencies after a weekend meeting of Group of 20 ministers reinforced the market's view that Washington is happy to see the dollar decline and is unlikely to intervene to support it.
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Some strategists say the dollar has probably hit bottom and may even be on the rebound.
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Sirva is feeling the pinch as organizations look to spend less on employees based overseas.
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The dollar got little relief from strongly worded expressions from European Union finance chiefs, falling to another low against the euro.
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The world's top finance officials stopped well short of expressing serious concern about the plunging U.S. dollar at a meeting that ended Sunday, although they issued a call for "steps toward greater exchange-rate flexibility" in Asia's emerging economies.
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The dollar weakened against major  currencies on Wednesday after a below-consensus snapshot of  regional U.S. business activity  kept the currency under  selling pressure.
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You probably know that the dollar is plunging. That will make it expensive to travel overseas for the holidays or to buy something made in a foreign land.
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External cost pressures dragged on the company's first-quarter results.