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Michelin

/ miʃəlɛ̃ /

noun

  1. André (ɑ̃dre). 1853–1931, French industrialist; founder, with his brother Édouard Michelin (1859–1940), of the Michelin Tyre Company (1888): the first to use demountable pneumatic tyres on motor vehicles

“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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Big movers included Ericsson which gained as much as 13% after earnings handily beat forecasts, while France’s Michelin slumped after it lowered its outlook on worsening market conditions and a sharp decline in North American sales.

Michelin cut its full-year outlook, citing worsening market conditions including the impact of U.S. tariffs, and a sharp decline in sales in North America.

Sales in its North American business fell by nearly 10% in the third quarter, Michelin said.

Outside the region, Michelin achieved on-year volume growth in the period despite what the Paris-listed company described as a “chaotic” business context and near-term uncertainties weighing on demand.

“The problem with the Long Beach ordinance is that it’s so constricting,” said Rachel Michelin, president of the association.

Read more on Los Angeles Times

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MicheletMichelin star