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UPDATE 1-North America helps lift Securitas profit, offsetting Europe wage costs

Securitas, the world’s biggest security services group, reported a rise in third-quarter profit as improved margins in North America helped offset wage cost pressure in Europe and said it outgrew the market in the first nine months. Operating profit grew to 1.4 billion Swedish crowns ($149.2 million) from a year-ago 1.1 billion, roughly matching a mean forecast in a Refinitiv poll of analysts. The operating margin in North America widened to 6.7% from 6.5% while in Europe it shrank slightly to 5.9% from 6.0% on some wage pressure, with salary increases not fully offset by price increases in …read more […]

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European Banking Integration Gets Boost in New Push From Berlin

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Germany’s finance ministry sought to break the deadlock in discussions over European banking integration by signaling it may drop its opposition to a key part of the plan.Berlin is ready to consider a form of joint European deposit insurance, something that would stabilize the financial system by reducing the risk of bank runs, according to a finance ministry paper published on Wednesday. That part of the plan has stalled, facing strong resistance from fiscally conservative countries and some parts of the German …read more […]