Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
* Q1 EBITA up 2 pct to 227 mln euros vs forecast 207 mln
* Europe steadies, apart from Germany; North America grows
* Shares up more than 5 percent to highest since September (Adds analyst, shares, details, background)
AMSTERDAM, April 24 (Reuters) - Netherlands-based staffing company Randstad beat first-quarter earnings forecasts on Wednesday, helped by stabilising markets in Europe, apart from Germany, and growth in North America.
Shares in the company, which competes with Switzerland's Adecco to be the largest global staffing company, rose more than 5 percent to 51.98 euros, their highest since September 2018.
The data add to recent signs the global economy might be slowing only gradually, rather than sharply as feared around the end of last year. Hiring trends are seen as a guide of future economic growth, as firms tend to take on fewer staff when they feel less confident about the future.
"Overall economic growth has come down, but has stabilised on a lower level," Chief Financial Officer Henry Schirmer said in an interview. "People are staying cautious in the current climate."
Randstad's sales were nearly flat at 5.7 billion euros ($6.4 billion) in the first three months of the year. A 10 percent fall in key market Germany was offset by growth in the United States and stabilising markets elsewhere in Europe.
The fourth quarter of last year saw a sharp downturn in business, with the U.S.-China trade conflict and Britain's planned departure from the European Union casting a shadow over global growth prospects.
Randstad said its underlying earnings before interest, taxation and amortisation (EBITA) rose 2 percent to 227 million euros. Analysts polled by the firm had on average forecast 207 million euros, down from 217 million a year earlier.
ING analysts said the company outperformed U.S. rival Manpower "in all key regions except France (in line) and especially in Southern Europe."
Brokerage KBC increased its target price on Randstad stock to 49 euros from 44.50 euros.
Randstad said that, based on April figures, it expected its current sales growth trend of about 0.5 percent to continue, with slightly higher gross margins in the second quarter.
Germany remains a concern, Schirmer said: "We are winning market share compared to our competitors, but Germany is still pretty hard hit."
($1 = 0.8917 euros) (Reporting by Anthony Deutsch; Editing by Rashmi Aich and Mark Potter)