European Press Roundup: Spain's Renfe Will Receive $6 Billion For U.S. Contract
February 20 2020 - 7:56AM
Dow Jones News
In Europe today, shares in Air France-KLM fell on its
coronavirus warning, while UBS said its Chief Executive Sergio
Ermotti is stepping down. Read about the above topics on Dow Jones
Newswires or WSJ.com.
In Other Media...
Spain's national railway company, Renfe, will receive $6 billion
for its role in the construction and operation of a high-speed rail
corridor between Houston and Dallas. In the initial design and
construction phase, Renfe will make $311 million, with the
remaining amount due from 2026. -Expansion
Shares of Eramet plunged more than 15% after the French mining
and metallurgy group reported Wednesday evening a EUR184 million
loss in 2019. Eramet also expects 2020 to be challenging. -Les
Echos
French cables manufacturer Nexans reported a net loss of EUR118
million in 2019 compared with a profit of EUR13 million the
previous year, blaming the hit on restructuring costs. However, the
group posted earnings before interest, taxes, depreciation, and
amortization of EUR413 million, in line with its targets, with
revenue rising 4.5% to EUR6.7 billion. -Le Figaro
The Italian government could be ready to revoke the concession
of Atlantia's motorway unit Autostrade after the Chamber of
Deputies on Wednesday approved a decree reducing the amount the
government has to pay to the operator in case the concession is
revoked. -La Repubblica
Axminster Carpets, a 265-year-old U.K. company that supplied
luxury carpets to the British royal family, Trump Hotels and the
U.S. Congress among others, has entered into administration.
Axminster, which was already bought out of administration in 2013,
failed to secure a rescue deal, putting 80 jobs at risk. -The
Guardian
University lecturers and staff at 74 U.K. universities are due
to start a 14-day strike on Thursday which is expected to affect
more than a million students. The University and College Union will
hold strikes until March 31 over work conditions, pay and pensions,
following eight days of industrial action in November and December.
-BBC
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(END) Dow Jones Newswires
February 20, 2020 07:41 ET (12:41 GMT)
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