By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil Corp on Friday smashed expectations as soaring energy prices fuelled a record-breaking quarterly profit, nearly matching that of tech giant Apple. Its $19.66 billion third-quarter net profit far exceeded recently raised Wall Street forecasts as sky-rocketing natural gas and high oil prices put its earnings within reach of…
By Valentine Baldassari (Reuters) -Signify, the world’s biggest lighting maker, cut its full-year outlook on Friday, hit by lower consumer demand and a slowdown in China even as shops and businesses in Europe rush to buy more efficient bulbs to cut energy costs. The former lighting arm of Philips said it is seeing increased demand…
By Sheila Dang and Greg Roumeliotis (Reuters) – Elon Musk has taken ownership of Twitter Inc with brutal efficiency, firing top executives immediately but providing little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform. “The bird is freed,” he tweeted after he completed his $44…
By Victoria Waldersee BERLIN (Reuters) – Volkswagen reported third-quarter earnings of 4.3 billion euros ($4.29 billion), behind pre-pandemic levels, following 1.6 billion in one-off effects from the suspension of Russian activities and its Porsche AG listing. Margins across the group were 6%, but Volkswagen maintained its outlook for the year of the upper end of…
By Cynthia Kim SEOUL (Reuters) – A missed bond payment by the developer of a South Korean theme park has rattled the country’s money markets and raised worries about the prospect of a credit crunch similar to the kind that threw China’s property market and economy into crisis. South Korea’s central bank and financial regulators…
Elon Musk has taken control of Twitter and ousted the CEO, chief financial officer and the company’s top lawyer, two people familiar with the deal said Thursday night. The people wouldn’t say if all the paperwork for the deal, originally valued at $44 billion, had been signed or if the deal has closed. But they…
(Reuters) – French drugmaker Sanofi on Friday projected faster earnings growth this year on strong demand for its bestselling drug Dupixent and for its flu vaccines. In a statement, Sanofi said it now expects 2022 adjusted earnings per share to grow by about 16%, not taking into account an expected positive currency impact of between…
PARIS (Reuters) -Europe’s Airbus raised its 2022 free cashflow forecast on the back of a strong dollar and reaffirmed delivery and production targets while delaying the projected introduction of its newest jet, the A321XLR, by a few months. Third-quarter revenues were also partially boosted by the U.S. currency while adjusted operating earnings rose 26% to…
TOKYO (AP) — Japan’s Cabinet approved Friday a hefty economic package including 29 trillion yen ($200 billion) in government spending to counter the blow to household budgets from inflation, signaling that the greater concern of its policymakers is that the economy will stall, not overheat. While central banks around the world are raising interest rates…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan kept ultra-low interest rates on Friday and maintained its dovish guidance, cementing its status as an outlier among global central banks tightening monetary policy, as recession fears dampen prospects for a solid recovery. In fresh quarterly projections, the BOJ revised up its core consumer inflation…
