By Philip Blenkinsop BRUSSELS (Reuters) – Heineken cast doubt on its mid-term profit margin target due to the uncertain impact of spiralling inflation on beer consumption, after reporting stronger than expected earnings in 2021 from higher prices and cost savings. The world’s second-largest brewer said on Wednesday the COVID-19 pandemic would still affect 2022 revenue,…
(The August 15 story corrects job title in paragraph 9) By Toby Sterling AMSTERDAM (Reuters) – Apple and Google face a potential class action lawsuit in the Netherlands over app store charges, after a foundation headed by Dutch entrepreneur Alexander Klöpping began gathering claimants. The action, which still faces legal hurdles before any court hearing,…
AMSTERDAM (Reuters) – Ahold Delhaize, the supermarket retailer, reported on Wednesday a strong fourth quarter in its core U.S. and European markets, as the COVID-19 pandemic drove robust online sales. Net sales in the last three months of 2021 came in at 20.1 billion euros ($22.8 billion), compared to a forecast of 19.8 billion in…
BEIJING (AP) — Asian stock markets followed Wall Street higher Thursday after Federal Reserve policymakers indicated they are leaning toward more decisive action on inflation but set no firm targets. Shanghai, Hong Kong and Sydney advanced while Tokyo declined. Oil prices, which have been volatile due to anxiety over a potential Russian invasion of Ukraine,…
SHANGHAI (Reuters) – Increasingly divergent monetary policies between China and the United States would help rein in an excessive rise in the yuan by reducing foreign money inflows, a former Chinese forex regulator said on Wednesday. The U.S. Federal Reserve is widely expected to accelerate monetary tightening to tame inflation this year, while the People’s…
(Reuters) – CNN executive Allison Gollust has resigned from the company following an internal investigation that found violations of policy by her and others, WarnerMedia Chief Executive Jason Kilar said in a memo to staff, which was seen by Reuters on Tuesday. Her departure is the latest move after a network investigation into the conduct…
(Refiles to add media packaging code) (Reuters) -Australia’s Liontown Resources said on Wednesday it signed a five-year agreement with Tesla to supply lithium spodumene concentrate to the electric carmaker, sending the lithium miner’s shares up nearly 20%. Tesla will buy 100,000 dry metric tonnes (DMT) of the concentrate in the first year starting 2024, increasing…
By Chris Prentice WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) is probing whether financial executives may have broken the rules by tipping off hedge funds ahead of large sales of shares, known as “block trades,” according to a source with knowledge of the matter. The Wall Street Journal first reported the probe…
(Reuters) – Australia’s Fortescue Metals, the world’s fourth-largest iron ore miner, on Wednesday said first-half profit tumbled a third on higher material and labour costs and lowered its interim dividend, sending its shares more than 4% lower. Fortescue said costs for the half jumped by a fifth. Australian miners have been burdened by a shortage…
By Prerana Bhat BENGALURU (Reuters) – The U.S. Federal Reserve will kick off its tightening cycle in March with a 25-basis-point interest rate rise, a Reuters poll of economists found, but a growing minority say it will opt for a more aggressive half-point move to tamp down inflation. While inflation is rising across the globe,…
