MILAN (Reuters) – Italy’s antitrust authority said on Wednesday it had opened an investigation against Samsung in Italy and two other companies over alleged misleading and aggressive commercial practices. The regulator said it was looking into the deals offered by the companies to customers seeking to buy new mobile phones while selling their used devices…
PARIS (Reuters) – Danone raised its 2022 revenue growth outlook after posting a 7.7% jump in second quarter like-for-like sales – beating analysts’ forecasts for 5.6% growth – reflecting price increases and strong demand for baby food and bottled water. Danone, which is the world’s largest yoghurt maker, said it now expected like-for-like sales growth…
BEIJING (AP) — Asian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike by the Federal Reserve to cool inflation. Shanghai, Hong Kong and South Korea declined. Tokyo and Sydney advanced. Oil prices were little changed, staying below $100 per barrel. Wall Street tumbled Tuesday after Walmart…
CANBERRA, Australia (AP) — Australian inflation rose farther, according to new data released on Wednesday that increases the likelihood of the central bank next week hiking interest rates for a fourth consecutive month. Inflation in the year through June was 6.1%, up from 5.1% in the year through March, the Australian Bureau of Statistics said….
DHAKA (Reuters) – Bangladesh has asked the International Monetary Fund to start negotiations for a loan, the finance minister told the Prothom Alo newspaper, while adding that the macroeconomic situation was “no way in trouble”. The minister, A.H.M. Mustafa Kamal, said, “The IMF was requested to start a formal negotiation to obtain loans for balance…
NEW YORK (AP) — Visa Inc. said Tuesday that its fiscal third quarter profits rose 32% from a year earlier, helped by yet another double-digit rise in the amount of money processed on its credit and debit card network. The payment processing company said it earned a profit of $3.4 billion, or $1.60 a share,…
(Reuters) -Teck Resources Ltd said on Tuesday Chief Executive Officer Don Lindsay will step down after 17 years with the Canadian miner, and also reported a surge in its second-quarter profit on upbeat prices for steelmaking coal. Lindsay, who will step down by end-September, will be replaced by Jonathan Price as CEO while Harry Conger…
By Wayne Cole SYDNEY (Reuters) -Australian inflation sped to a 21-year high last quarter and is likely to accelerate even further as food and energy costs explode, stoking speculation interest rates will need to more than double to bring the outbreak under control. Wednesday’s gloomy report comes just a day before Treasurer Jim Chalmers is…
By Rae Wee SINGAPORE (Reuters) – The euro nursed losses on Wednesday after its sharpest drop in two weeks, as a cut in Russian gas supply sent energy prices soaring, while the dollar held ground ahead of an expected U.S. interest rate hike later in the day. The euro fell about 1% to $1.0108 overnight,…
MEXICO CITY (Reuters) -Walmart’s Mexico unit posted a nearly 12% quarterly net profit increase as tighter operations and new income streams largely offset higher expenses amid swelling inflation, a day after its parent posted a profit warning. The retailer’s Mexican net profit of 10.89 billion pesos ($540.84 million) and revenue of 195.62 billion pesos for…
