By Mimosa Spencer PARIS (Reuters) -Cosmetics group L’Oreal bucked a declining trend for the luxury and fashion industry in China with sales growing in the second quarter despite COVID lockdowns, as the make-up market rebounds. The group said on Thursday overall sales for the three months to June came in at 9.31 billion euros ($9.46…
DALLAS (AP) — Southwest Airlines’ second-quarter profit doubled to $760 million on record revenue, but it warned that rising costs and lower productivity are likely to continue in the second half of the year. Shares fell 7% Thursday in midday trading. Air travel has bounced back this year from pandemic depths, and that is particularly…
By Eva Mathews (Reuters) – Stiff competition from TikTok and Apple Inc’s privacy changes will remain a cause for concern for Facebook-owner Meta Platforms Inc in the near term, Wall Street analysts said. At least 16 brokerages cut their price targets on Meta after the company reported its first-ever quarterly revenue drop on Wednesday, highlighting…
NEW YORK (AP) — For more than a decade, US Bank pressured its employees to open fake accounts in their customers’ names in order to meet unrealistic sales goals, the Consumer Financial Protection Bureau said Thursday, in a case that is deeply similar to the sales practices scandal uncovered at Wells Fargo last decade. The…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices edged higher in choppy trade on Thursday, buoyed by improved risk appetite among investors as lower crude inventories and a rebound in gasoline demand in the United States supported prices. However, futures pulled back in mid-morning trade after the U.S. Commerce Department reported the economy unexpectedly contracted…
PARIS (AP) — French President Emmanuel Macron is welcoming Saudi Crown Prince Mohammed bin Salman to his presidential palace Thursday and offering him dinner in controversial talks that mark another step in the Saudi leader’s diplomatic rehabilitation — a move that has drawn harsh criticism in France after the gruesome Saudi killing of U.S.-based Saudi…
By Bansari Mayur Kamdar and Johann M Cherian (Reuters) – Canada’s main stock index slipped on Thursday following a mixed bag of results, while gloomy forecasts by U.S. companies and an early reading showing the economy contracted again on the other side of the border exacerbated recession fears. At 10:22 a.m. ET (14:22 GMT), the…
Sales of Pfizer’s COVID-19 vaccine and treatment in the second quarter propelled the pharmaceutical giant to the largest quarterly sales in its history. The coronavirus vaccine Comirnaty brought in $8.85 billion in sales, and the treatment Paxlovid added another $8.12 billion as company revenue totaled $27.74 billion. Pfizer said Thursday that it earned $9.91 billion,…
WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week, but the previous week’s number was revised upward significantly, with claims breaching the 250,000 level in back-to-back weeks for the first time in more than eight months. Applications for jobless aid for the week ending July 23 declined by 5,000 to 256,000 from the…
(Reuters) – Canada’s main stock index rose on Thursday, helped by a slew of strong quarterly results and a jump in commodities as crude and metal prices rose after the U.S. Federal Reserve raised hopes of slowing its monetary policy tightening. At 9:30 a.m. ET (1330 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was…
