By Alexander Kloss and Ana CanteroRos (Reuters) -Swiss logistics group Kuehne + Nagel reported on Tuesday a 162% surge in its first-quarter net earnings, citing strong demand for capital and consumer goods. While its logistics volumes barely budged – sea freight was down 4% and air cargo was up 3% organically – quarterly earnings came…
By Sujata Rao LONDON (Reuters) – A dollar pullback from 20-year highs and Chinese authorities’ pledge to support economic growth offered respite to battered equity markets on Friday, though Wall Street remained poised to open lower after lacklustre earnings from retail giant Amazon. World stocks remain on course for their worst month since March 2020…
(Reuters) – Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow’s invasion of Ukraine on Feb. 24 have started to report associated losses. These are firms, listed by sector, that have provided cost estimates related to a temporary or permanent halt in Russia: APPAREL ADIDAS The German sportswear company warned…
(Reuters) – Russia made what appeared to be a late u-turn to avoid a default on Friday, as it made a number of already-overdue international debt payments in dollars despite previously vowing they would only be paid in roubles. Whether the money would make it to the United States and other Western countries that sanctioned…
By Sabrina Valle and Shariq Khan (Reuters) -Exxon Mobil Corp doubled its first-quarter per-share profit, it said on Friday, but the results fell short of Wall Street estimates, even excluding a $3.4 billion writedown from its withdrawal from Russia. The top U.S. oil producer tripled the size of its buyback program, similar to other energy…
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the economy. Yet there were signs in Friday’s report from the Commerce Department…
WASHINGTON (Reuters) – U.S. consumer spending increased more than expected in March amid strong demand for services, while monthly inflation surged by the most since 2005. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 1.1% last month. Data for February was revised higher…
(Reuters) – AbbVie Inc missed Wall Street estimates for first-quarter sales on Friday, hurt by European competition for its blockbuster rheumatoid arthritis drug Humira and lower-than-expected revenue from its newer drug Rinvoq. Sales of the world’s best selling drug, Humira, fell 2.7% to $4.74 billion in the first quarter, below estimates of $4.91 billion as…
NEW YORK (AP) — Exxon Mobil reported $5.48 billion in profits during the first quarter as oil and gas prices rose steadily, more than doubling its profits compared with the same quarter last year. But the oil giant took a huge hit as it abandoned its Russian operations due to the war, writing down $3.4…
Airbnb will allow its employees to live and work almost anywhere around the world, fully embracing a remote work policy to attract staff and ensure flexibility. The San Francisco short-term-stay company said late Thursday that under the new policy, employees can work from the office, home or during their travels to 170 countries. Staff will…
