Sales slump hits French press
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The French newspaper industry faces job cuts and losses as circulation figures plummet.
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Slow sales hit a margin-boosting afterburner.
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French economic growth faltered in the third quarter, the national statistics office said Friday, and higher oil prices added to inflationary pressures in October.
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When the leading left-wing tabloid sells a sizable stake to a Rothschild heir, you know things are getting desperate for France&#39;s newspaper industry.
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SALES at consumer goods giant Unilever slumped 4% in its latest quarter, heaping yet more bad news on long-suffering investors. Just weeks after a devastating profit warning braced the markets for grim tidings
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Publishers tout their online strategies and efforts to rein in costs as print advertising revenue falls.
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The newspaper publisher and television station operator said  third-quarter profit fell to $2.5 million as ad revenue slumped.
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French carmaker PSA Peugeot-Citroen is cutting 10,000 jobs, or 7 percent of its European work force, and is imposing a hiring freeze as it tries to cut costs amid a sales slump in Europe.
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Following Kodak&#39;s announcement in January to halt production of film cameras it is cutting jobs at manufacturing sites in France and the UK resulting in the loss of around 870 jobs.
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French carmaker PSA Peugeot -Citroen is cutting 10,000 jobs, or 7 percent of its European workforce, and is imposing a hiring freeze as it tries to cut costs amid a sales slump .
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Pearson, the publisher of The Financial Times and the owner of Penguin books, said that profit fell 29 percent in 2006, partly as a result of a gain in the prior year on the sale of its stake in a Spanish newspaper. Income for the company, which also has a 50 percent stake in The Economist magazine and owns the French newspaper Les Ãchos, dropped to Â£446 million ($875.4 million) from Â£624 million. Revenue rose 8 percent, to Â£4.4 billion ($8.7 billion) as 8 percent sales growth at the companyâs schools publishing business in the United States outweighed slower sales at Penguin. Ad revenue was up 9 percent at The Financial Times. Excluding one-time items, profit rose 38 percent, to Â£455 million ($893.6 million) in 2006.
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The French economy ground to a halt in the third quarter as exports slowed, the national statistics agency confirmed Tuesday.
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The companyâs consumer segment, which accounts for more than half of the companyâs sales, posted a 16 percent drop in earnings as the cost of ingredients jumped.
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Shares in Molson Inc. slumped Friday after the brewer warned its summer-quarter earnings would be lower than expected due to slow sales in Canada and problems with profitability in Brazil.
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Cadbury Schweppes, the confectionery to soft drinks group, followed rivals such as Unilever and Coca-Cola yesterday in admitting the poor summer had taken its toll on its sales, knocking its shares.
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Sales slump subsides at Furniture Brands.
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MONTREAL - Molson Inc. has served up a warning of disappointing summer-quarter earnings, saying sales have been slow in Canada and profitability has been squeezed in Brazil.