By Laura Sanicola (Reuters) -Oil prices extended losses on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis. Brent crude futures fell 13 cents, or 0.1%, to $92.84 a barrel by 12:26 p.m. EDT (1526 GMT), extending…
By Lucia Mutikani WASHINGTON(Reuters) -U.S. home sales unexpectedly increased in January, but investors paying in cash are squeezing out first-time buyers from the housing market amid record low inventory and higher prices. The surge in sales of previously owned homes last month reported by the National Association of Realtors on Friday likely reflected buyers rushing…
By Amruta Khandekar (Reuters) – Steady sales of pacemakers and heart stents may have likely helped Medtronic Plc offset weak demand for its other medical devices, in a quarter that saw an Omicron-led surge in COVID-19 cases and staffing crisis at most U.S. hospitals. Overwhelmed by soaring infections and shortages of nurses and other healthcare…
CHICAGO (Reuters) -General Electric Co warned on Friday that a supply chain logjam coupled with a labor crunch and inflation will pressure profits through the first half of the year. The challenges are affecting its units including healthcare, renewable energy and aviation, the company said in a regulatory filing. But the Boston-based industrial conglomerate said…
By Emma-Victoria Farr and Alexander Hübner (Reuters) – German artificial limb maker Ottobock is waiting until September to launch its multibillion-euro stock market listing because of choppy financial markets, four people with knowledge of the matter said. Many investors had expected the business, which could be valued at more than 5 billion euros ($5.7 billion),…
LOS ANGELES (AP) — Sales of previously occupied homes rose in January as a surge in buyers with cash and others eager to avoid higher mortgage rates snapped up properties, leaving the number of available houses on the market at a record low. Existing home sales rose 6.7% last month from December to a seasonally…
BERLIN (Reuters) – Lufthansa will not impose compulsory job cuts, the German airline said on Friday, as it cuts costs nearly two years into the coronavirus pandemic that left the industry reeling. The company said voluntary redundancy programmes and part-time solutions would reduce numbers in a socially responsible manner. “We have worked hard in recent…
VILNIUS (Reuters) – Continental will continue investing in a factory in Lithuania, an executive was quoted saying, despite a diplomatic dispute between Beijing and the Baltic state that has threatened to embroil the German car parts maker. Two people familiar with the matter told Reuters in December that China was pressuring Continental to stop using…
LONDON (Reuters) -Britain’s Virgin Media O2 said on Friday its two owners were in talks with financial partners about funding a fibre network covering seven million premises, stepping up its challenge to BT in the race to roll out ultrafast connections. The broadband and mobile provider, a joint venture between Liberty Global and Telefonica, will…
JAKARTA (AP) — Finance leaders of the world’s biggest economies called Friday for a cautious and well coordinated approach to navigating recoveries from the pandemic. Finance ministers and top central bankers of the Group of 20 industrial nations agreed on a need to carefully calibrate moves by the U.S. and other countries to combat inflation…
