(Reuters) -Yum Brands Inc missed quarterly earnings estimates on Wednesday as increased costs of ingredients, labor and packaging material took a bite out of the Pizza Hut owner’s profits. The restaurant group has been raising prices of tacos, fried chicken and pizzas but could not fully counter the blow from a 4% increase in overall…
By Danilo Masoni MILAN (Reuters) – World stocks stabilised on Wednesday as markets weighed risks from U.S. House Speaker Nancy Pelosi’s visit to Taiwan and comments from Federal Reserve officials talking up the chance of aggressive interest rate hikes. MSCI’s benchmark for global stocks was broadly unchanged by 1127 GMT following Tuesday’s drop that took…
ISTANBUL (AP) — Annual inflation in Turkey soared to nearly 80% in July, official data showed Wednesday, with skyrocketing food, housing and energy prices hitting consumers hard. The Turkish Statistical Institute said consumer prices rose by 79.6% from a year earlier, up about 1 percentage point from June data. Independent experts say inflation is much…
CVS Health thumped second-quarter expectations and hiked its full-year forecast as growing prescription claims and COVID-19 test kits sales countered a drop in vaccinations. A longer cough, cold and flu season also brought in more business, and claims in CVS Health’s biggest segment, pharmacy benefits management, rose about 4%. Pharmacy sales at the company’s established…
NEW YORK (AP) — To understand the impact of surging inflation on this year’s back-to-school spending, look no further than children’s rain boots with motifs like frogs and ladybugs made by Washington Shoe Co. Spending held steady for these evergreen items even after the Kent, Washington-based business was forced to pass along 15% price increases…
BERLIN (Reuters) – Siemens’ new supervisory board is committed to doing away with the portfolio policy of the past, said influential employee representatives on the board, who added that they were opposed to further splitting up the German industrial group. Siemens AG, Siemens Mobility, and the majority stake in Siemens Healthineers are “the core of…
TOKYO (AP) — Nintendo’s profit in the April-June quarter rose 28% from a year earlier on healthy demand for its games, although its console sales were dented by a shortage of semiconductors. The Japanese video game maker behind the Super Mario and Pokemon franchises said Wednesday its profit in the last quarter totaled 118.9 billion…
BERLIN (AP) — German Chancellor Olaf Scholz inspected a mechanical turbine at the center of a natural gas dispute and declared Wednesday “there are no problems” with the part besides information from Russia’s state-controlled gas company. Russian energy giant Gazprom last week halved the amount of natural gas flowing through the Nord Stream 1 pipeline…
The OPEC oil cartel and its allies decided Wednesday to boost production in September by a much slower pace than in previous months at a time of high gasoline prices and unstable energy supplies exacerbated by Russia’s war in Ukraine. OPEC, led by Saudi Arabia, and its allies, led by Russia, said they will increase…
By Markus Wacket BERLIN (Reuters) – The German government will have to amend its energy security law again in September as its gas levy cannot yet be imposed on all consumers, including those with fixed prices contracts, government and parliamentary sources told Reuters on Wednesday. A gas levy, which had been set to come into…
