Sodexo cuts 2025 guidance on slower growth in North America
"While our industry fundamentals remain strong, in North America the continued soft trend in volumes in Education and slower than expected net new ramp-up in Healthcare have impacted our ability to meet initial expectations," CEO and Chairwoman Sophie Bellon said in a statement.
The group now sees 2025 organic revenue growth of between 3% and 4%, from between 5.5% and 6.5% previously, and an underlying operating margin increase of 10 to 20 basis points, down from a rise of 30 to 40 bps guided previously.
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Daily Mirror
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Hugo Ekitike joins Liverpool in £79m deal as Reds continue spending spree
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Reuters
an hour ago
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Dollar falls against yen as markets weigh new trade deal, Japanese politics
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Exclusive: Chinese engines, shipped as 'cooling units', power Russian drones used in Ukraine
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A person familiar with Beijing's thinking on the issue said that China produces around 75% of world's drones, with the majority not for military purposes; if Russia was using them as weapons, then the same was also true of Ukraine, the person added. Ahead of Thursday's summit, one European official said the EU was not asking China to cut economic ties with Russia but to strengthen customs and financial controls to reduce the flow of specific dual-use goods. The Garpiya, which means harpy in Russian, is based on the Iranian-made Shahed drones but relies on Chinese technology, the three European sources said. The Ukrainian military intelligence agency said the Chinese-made components in the drone included the engine, control systems, and navigation equipment. The engines were shipped by Xichao to a Russian front company identified as SMP-138, which then forwarded them to a second Russian firm LIBSS, according to another internal Kupol document, seen by Reuters. Abram Goldman, registered as the owner of SMP-138, did not respond to an emailed request for comment. LIBSS also did not respond to Reuters' questions. A contract for LIBSS to supply Kupol with the engines, reviewed by Reuters, stated they would be described as cooling units in shipping documents because of their sensitivity. The delivery route was from Beijing to Moscow then to Izhevsk, where Kupol has manufacturing facilities. Describing them as cooling units allowed the goods to be exported to Russia without alerting Chinese authorities, the three security officials said. Transportation documents reviewed by Reuters showed that Sichuan Airlines and China Southern Airlines ( opens new tab, China's largest carrier, had transported components for the drones to sanctioned Russian companies since October. China Southern did not respond to Reuters' questions and Sichuan could not be reached for comment.
