By Lucia Mutikani WASHINGTON (Reuters) -The U.S. trade deficit in goods widened to a record high in December amid a continued rise in imports, suggesting that trade likely remained a drag on economic growth in the fourth quarter. But the report from the Commerce Department on Wednesday also showed an acceleration in the pace of…
OMAHA, Neb. (AP) — Norfolk Southern railroad delivered 13% greater profit in the fourth quarter even though the amount of cargo it transported declined because it was able to raise rates. The Atlanta-based company said it earned $760 million, or $3.12 per share, in the quarter. That’s up from $671 million, or $2.64 per share,…
The Bill and Melinda Gates Foundation announced Wednesday it will add four members to its board of trustees, a first for the Seattle-based philanthropic giant whose decision making has been guided by very few hands since its incorporation in 2000. The foundation, one of the world’s largest with its $50 billion endowment, said it would…
(Reuters) -Abbott Laboratories on Wednesday beat quarterly profit and sales estimates, aided by robust sales of COVID-19 test kits due to the spread of the Omicron variant and strong demand for its diagnostics products. Abbott said it expects $2.5 billion in sales of COVID-19 test kits in the early part of this year. The company…
(Reuters) -Mattel Inc on Wednesday snatched back rights to produce toys based on Walt Disney Co’s “Frozen” franchise and Princess lineup, more than seven years after losing it to rival Hasbro Inc. The reunion will bring popular Disney characters, including “Cinderella” and “Snow White,” to Mattel, which will also make toys based on characters in…
ATHENS, Greece (AP) — Greek army and municipal crews removed hundreds of vehicles Wednesday that had been stranded in snow for three days along a road linking Athens to its international airport, as authorities struggled to clear blocked thoroughfares and restore power to blacked out parts of the capital. In Istanbul, Turkey’s largest city, road…
Boeing on Wednesday reported a $4.16 billion loss for the fourth quarter as the financial fallout of production flaws in one of its best-selling planes, the 787 Dreamliner, grew much worse. The aircraft maker took a charge of $3.5 billion to cover additional delays in delivering copies of its 787 jetliner and compensation for airlines…
(Reuters) -Abbott Laboratories’ quarterly profit beat analysts’ estimate, aided by robust sales of COVID-19 test kits due to the spread of the Omicron variant and strong demand for its diagnostics products. Abbott said it expects $2.5 billion from COVID-19 test kits in the early part of this year. The company will update its test kit…
(Reuters) -Abbott Laboratories on Wednesday reported a 7.2% rise in quarterly sales on strong demand for diagnostics products, including its COVID-19 tests, led by a sharp surge in cases due to the Omicron variant. The company’s net earnings fell to $1.99 billion, or $1.11 per share, in the fourth quarter ended Dec. 31 from $2.16…
LONDON (AP) — Chipmaker Intel scored a decisive legal victory Wednesday in a long-running battle against European Union competition watchdogs after a court reversed itself and threw out a billion euro antitrust fine issued more than a decade ago. The EU’s General Court annuled the 1.06 billion euro fine ($1.43 billion at current exchange rates)…
