(Reuters) – United Parcel Service Inc on Tuesday reported a rise in third-quarter adjusted profit as higher delivery prices offset softening e-commerce demand. In the wake of falling e-commerce demand and receding domestic volume, delivery firms such as UPS and FedEx Corp have banked on higher-paying small businesses and enterprise customers to drive volumes and…
CANBERRA, Australia (AP) — Australia’s new government released plans Tuesday for more spending on families, the elderly, defense and its Pacific neighbors as the country braces for an economic slowdown due to rising interest rates, inflation and disastrous floods. Treasurer Jim Chalmers delivered his center-left Labor Party’s first annual budget for the fiscal year that…
BERLIN (AP) — German and European Union leaders gathered experts Tuesday to start work on what Germany’s chancellor described as a “new Marshall Plan” for the rebuilding of Ukraine. The Marshall Plan was a U.S.-sponsored initiative that helped revive western European economies after World War II. German Chancellor Olaf Scholz, whose country currently chairs the…
BRUSSELS (AP) — European Union nations on Tuesday gave themselves yet another month to overcome deep differences on groundbreaking measures to shield their citizens from the energy crisis. Such initiatives are also necessary for the bloc to maintain a united front during Russia’s war in Ukraine. With winter approaching, home energy bills piling up and…
By Nivedita Bhattacharjee BENGALURU (Reuters) -Popular messaging app WhatsApp stopped working for many people across the world on Tuesday, with users in Asia, the United Kingdom, South Africa and Europe reporting issues sending and receiving texts and videos. At around 0750 GMT, outage reporting site Downdetector showed over 68,000 users had reported problems with the…
By Noele Illien ZURICH (Reuters) -UBS logged a smaller-than-expected 24% slide in third-quarter net profit with robust client inflows and lower costs helping to ameliorate the impact of turbulent financial markets. The Swiss bank attracted $17 billion in net new fee generating assets in wealth management and $18 billion of net new money in asset…
Wall Street notched more gains Tuesday, as major stock indexes rallied for the third day and Treasury yields fell again. The S&P 500 rose 1.6%, with roughly 90% of stocks in the index notching gains. The benchmark index hadn’t been able to string together more than two gains in a row since mid-September. The Dow…
(Corrects headline and the first three paragraphs to include correct consensus figures. The previously used Refinitiv consensus figures were for Q4, not Q3.) BERLIN (Reuters) -Business software maker SAP reported faster than expected revenue growth for the third quarter, though its profit declined due to lower contribution from software licenses revenue as well as investments…
(Reuters) – French industrial gases company Air Liquide reported on Tuesday slightly better-than-expected third quarter sales, helped by growth in all its segments amid growing energy costs. The supplier of gases such as oxygen, nitrogen and hydrogen to factories and hospitals, posted revenues of 8.25 billion euros ($8.15 billion) in the third quarter, higher than…
By Anshuman Daga and Lawrence White SINGAPORE (Reuters) -HSBC reported on Tuesday a 42% tumble in third-quarter pretax profits on the back of losses on the sale of its French unit and rising bad loans, but its interest income surged as banks benefit from rising rates around the world. The London-headquartered bank posted a pretax…
