By Joseph White and Ben Klayman DETROIT (Reuters) -General Motors Co on Tuesday said it will spend more than the $35 billion previously planned through 2025 to speed up launches of new electric vehicles, and noted that investments in technology will take priority over richer profits next year. GM said it expects 2022 operating profit…
By Erwin Seba HOUSTON (Reuters) -Union and energy company negotiators met on Tuesday without reaching agreement on a new labor contract covering 30,000 U.S. workers at oil refineries, chemical plants and pipelines. Marathon Petroleum and the United Steelworkers union (USW) on Monday averted a potential strike by agreeing to a 24-hour rolling extension of the…
By Paresh Dave and Nivedita Balu (Reuters) -Google parent Alphabet Inc reported record quarterly sales that topped expectations on Tuesday, as its internet advertising business surged on consumers using Google search as they shopped online and advertisers upping their marketing budgets. Alphabet’s shares jumped more than 8% in after-hours trading, also rising on the company’s…
By Siddharth Cavale and Arriana McLymore (Reuters) -United Parcel Service Inc projected 2022 revenue above market expectations and doled out its biggest dividend boost on Tuesday, as the logistics giant posted record annual earnings on the back of a pandemic-driven surge in online shopping and labor shortages. UPS stock jumped 16% to a record high…
By Hilary Russ and Praveen Paramasivam (Reuters) -Starbucks Corp will raise menu prices in 2022 and reduce some spending to offset soaring costs for labor and goods, as rising COVID-19 cases prompted the coffee chain on Tuesday to lower estimates for profits this year. The company missed estimates for quarterly profits and comparable sales as…
By Wayne Cole SYDNEY (Reuters) – The dollar was carrying a couple of bruises on Wednesday as Federal Reserve officials played down the chance of a half point rate hike in March and a rally in global equity markets tarnished some of its safe haven allure. Stellar results from Alphabet after the bell saw that…
(Corrects quarter to fourth from third in paragraph 2) (Reuters) -Match Group Inc cut its full-year revenue forecast on Tuesday, as the Tinder owner expects the impact from the Omicron COVID-19 variant to persist through 2022. The company, which also missed fourth-quarter revenue estimates, forecast 2022 total revenue growth between 15% and 20%. It had…
DETROIT (AP) — General Motors increased its net income 56% last year, helped by higher prices for its vehicles that were made scarce by a global shortage of computer chips. The Detroit automaker said Tuesday that it made $10.02 billion for the full year. And it predicted record pretax earnings in 2022 of $13 billion…
The airline that carried monkeys part of the way to a U.S. research laboratory before they were involved in a highway crash in Pennsylvania says it will stop the shipments. Kenya Airways will not renew its contract with the shipper when it expires this month, airline CEO Allan Kilavuka said in an email to The…
Starbucks had a strong holiday season in the U.S., but those results were offset by higher labor and commodity costs and weaker sales in China. In response, Starbucks lowered its earnings outlook for the 2022 fiscal year, which ends in September. The company said it expects earnings per share to decline by 4% to 6%…
