By Kate Holton LONDON (Reuters) -British commercial broadcaster ITV expects its soon-to-launch free streaming platform ITVX to resonate with viewers at a time when deteriorating economic conditions have forced many to cancel subscriptions with the likes of Netflix. ITV alarmed investors in March when it announced the arrival of ITVX, a major expansion of its…
SEOUL, South Korea (AP) — Samsung Electronics Co. has reported its operating profit rose 12% in the April-June quarter thanks to strong demand for server chips. The world’s top producer of smartphones and memory chips said in a statement Thursday that its operating profit for the last quarter rose to 14.1 trillion won ($10.8 billion)…
By Charlotte Van Campenhout AMSTERDAM (Reuters) -ArcelorMittal, the world’s second-largest steelmaker, reported higher than expected second-quarter earnings on Thursday helped by sharply increased prices, but saw threats from spiralling inflation, the war in Ukraine and China’s COVID-19 restrictions. The Luxembourg-based company did not give a specific forecast, but highlighted downside risks. Inflationary pressure presented a…
TOKYO (AP) — Asian shares were mostly higher on Friday following a broad rally on Wall Street, but Hong Kong’s benchmark sank more than 2%. Investors appear to have grown more convinced that the Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation after the Commerce Department reported the U.S. economy…
LONDON (Reuters) -BAE Systems, Britain’s biggest defence company, named Cressida Hogg as its next chair on Thursday, as it reported stronger-than-expected half-year results and announced a new share buyback plan. The builder of combat ships, submarines and fighter jets said Hogg, currently chair at commercial landlord group LandSec, would become chair designate from November, and…
CANBERRA, Australia (AP) — Australia’s runaway inflation is forecast to remain too high for the next two years and economic growth will slow without falling into recession, the government’s treasurer said on Thursday. Treasurer Jim Chalmers outlined to Parliament how the country’s economic outlook has deteriorated since the government of Prime Minister Anthony Albanese was…
(Reuters) – French healthcare group Sanofi lifted its full-year earnings outlook on continued strong sales growth for its bestselling drug Dupixent. In a statement on Thursday, Sanofi said it now expects 2022 adjusted earnings per share to grow by about 15%, excluding the effect of currency swings. It had previously predicted low double-digit percentage growth….
The world’s most influential banks need to substantially accelerate climate efforts if global temperature rise is to be kept within the targets of the Paris Agreement, an assessment released Thursday by an institutional investors group warned. The efforts of 27 giant banks in North America, Europe and Asia to align their policies with global warming…
LENORAH, Texas (AP) — To the naked eye, the Mako Compressor Station outside the dusty West Texas crossroads of Lenorah appears unremarkable, similar to tens of thousands of oil and gas operations scattered throughout the oil-rich Permian Basin. What’s not visible through the chain-link fence is the plume of invisible gas, primarily methane, billowing from…
WASHINGTON (AP) — Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs. Yet despite his resolute words, the Fed chair also said for the first time that the central bank’s actions are…
