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The fallout from slowing car- and truck-tyre demand in China and a European auto registrations slump linked to tougher new emissions tests has proven worse than expected, Chief Finance Officer Marc Henry told reporters on a call. “All of these markets are going to be in decline by comparison with the forecasts we had made,” he said. The company posted a 5.2 percent increase in third-quarter revenue to 5.62 billion euros ($6.44 billion) as it reported sales four days earlier than planned.

But tire sales to carmakers fell 5 percent in China and Western Europe - freemason formal set cufflinks where the tougher new Worldwide Harmonised Light Vehicle Test (WLTP) has led to model approval delays and withdrawals, Michelin, which had earlier pledged to increase 2018 recurring operating profit, said its growth would amount to at least 200 million euros before exchange-rate effects, But it slashed 2018 market growth forecasts to 0.5 percent for car tires, instead of the previously forecast 1.5 percent; and to a 1.5 percent decline in truck tires rather than a 0.5 percent expansion..

(Reuters) - Starbucks Corp (SBUX.O) said on Thursday it would give its longtime partner Mexico’s Alsea SAB (ALSEA.MX) the rights to operate its cafes in France, the Netherlands, Belgium and Luxembourg as the coffee chain tries to streamline its operations in markets where sales have struggled. Starbucks said it will sell 83 company-owned stores in the Netherlands and France to Mexican restaurant operator Alsea, while taking control of 177 franchised stores in the four countries, a company spokeswoman told Reuters.

U.S, restaurant chains typically seek to cut overhead costs by franchising their store operations to third parties instead of operating them themselves, But for Starbucks, the move comes freemason formal set cufflinks as it struggles to see growth in Europe, Middle East and Africa, where same-stores sales have failed to show strong growth in the past year, Starbucks said the move to license out would help it “unlock untapped potential” for growth, adding it would close a support center in Amsterdam and consolidate its European headquarters in London, The Amsterdam closure will impact about 186 employees, the spokeswoman said..

NEW YORK (Reuters) - Blackstone Group LP (BX.N), the U.S. buyout firm which is relying on Saudi Arabia to provide half the money for its planned $40 billion infrastructure fund, waved off concerns about funding on Thursday even as controversy rages over the disappearance of a Saudi journalist that has frayed relations between Wall Street and the oil-rich kingdom. Blackstone Chief Executive Stephen Schwarzman pulled out this week from a planned investment conference in Saudi Arabia, following other Wall Street and media leaders, over the disappearance of Jamal Khashoggi, a U.S. resident and Washington Post columnist critical of Riyadh’s policies, who was last seen entering the Saudi consulate in Istanbul on Oct. 2.

Turkish officials have said freemason formal set cufflinks they believe Khashoggi was murdered at the consulate and his body chopped up and removed, Saudi Arabia has denied involvement in the disappearance, and U.S, President Donald Trump said on Wednesday he needed to see evidence of any role by Riyadh, Blackstone Chief Operating Officer Jonathan Gray acknowledged that the firm “may get some questions” over its Saudi ties, but stressed Blackstone’s autonomy in investing the infrastructure fund, “Investors have enormous confidence in us, which is why we feel like this business is very much on the path to growing to large scale, regardless of obviously some near-term challenges,” Gray said about the infrastructure fund on a conference call discussing the firm’s third-quarter earnings with analysts..

Blackstone, the world’s largest manager of alternative assets such as private equity and real estate, has long cultivated Saudi Arabia as an investor, and the Kingdom’s main sovereign wealth fund agreed last year to contribute up to $20 billion for its new infrastructure fund. Blackstone has so far raised around $5 billion for its infrastructure fund, half of which came from Saudi Arabia. Gray said Blackstone has been concerned by the recent media coverage, but that the firm takes “a long-term approach, both to our relationships and to building businesses”.

For the third quarter, Blackstone modestly exceeded analyst expectations with an 11 percent jump in earnings, helped by climbing equity markets which buoyed its holdings, The New York-based firm’s economic net income (ENI) per freemason formal set cufflinks unit for the three months through September was 76 cents, compared to the mean forecast for 74 cents, according to Refinitiv data, A year earlier, Blackstone reported ENI per share of 68 cents, Blackstone shares were down around 0.2 percent in midday trading in New York against a broadly lower market..

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