BERLIN (AP) — The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed Friday. But the immediate outlook for Europe’s biggest economy remained gloomy, with inflation rising again in October. Gross domestic product expanded by 0.3% in the July-September period compared with the previous quarter,…
Elon Musk has taken control of Twitter after a protracted legal battle and months of uncertainty. The question now is what the billionaire Tesla CEO will actually do with the social media platform. Musk gave one indication of where he’s headed in a tweet Friday, saying no decisions on content or reinstating of accounts will…
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…
