By Ann Saphir WASHINGTON (Reuters) – Since it began its current round of interest-rate hikes this year, the U.S. Federal Reserve has aimed to let investors know ahead of time not just where rates are heading generally but exactly how big a move to expect each time. And despite some snags, including what analysts say…
The Coca-Cola Co. posted strong sales in the second quarter due to price increases and rising demand from restaurants, theme parks and other venues. The company also raised its revenue expectations Tuesday, saying that it now expects organic revenue growth of between 12% and 13% for the full year. That’s up from earlier projections of…
NEW YORK (AP) — The Rockefeller Foundation, created with wealth generated from the oil industry more than a century ago, plans to make the fight against climate change central to all of its work, including its operations and investments. In a public letter released Tuesday, foundation president, Dr. Rajiv J. Shah, acknowledged the “irony” that…
By Kate Abnett BRUSSELS (Reuters) -European Union countries approved a weakened emergency plan to curb their gas demand on Tuesday, after striking compromise deals to reduce the cuts for some countries, as they brace for further Russian reductions in supply. Europe faces an increased gas squeeze from Wednesday, when Russian’s Gazprom has said it would…
BERLIN (AP) — Lufthansa says it will have to cancel almost all flights at its main Frankfurt and Munich hubs on Wednesday because of a strike by its German ground staff, affecting tens of thousands of passengers in the latest travel turmoil to hit Europe. The airline said Tuesday that the strike will force the…
DETROIT (AP) — General Motors’ second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and drove the company’s U.S. sales down more than 15%. The Detroit automaker earned $1.67 billion from April through June, in part because it couldn’t deliver 95,000 vehicles because they were built…
By Oliver Hirt and Tom Sims ZURICH (Reuters) -UBS posted a smaller-than-expected quarterly profit as turmoil in financial markets hurt its investment banking and wealth management businesses, with analysts predicting the Swiss bank will see harsh conditions in the second half as well. The Zurich-based bank kicks off a round of earnings by major lenders…
BEIJING (AP) — Asian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike from the Federal Reserve to cool inflation. Shanghai, Hong Kong and South Korea declined. Tokyo advanced. Oil prices were little changed, staying below $100 per barrel. Wall Street tumbled Tuesday after Walmart warned inflation…
By Nichola Groom (Reuters) – The number of jobs in the U.S. solar energy industry rose 9% last year to more than 255,000, with most workers employed in installation and project development, according to a report published on Tuesday. The rise marked a return to growth in sector employment following a contraction in 2020 due…
(Reuters) – European stocks fell on Tuesday as a slide in retailers and Swiss bank UBS offset a rally in oil stocks and Unilever, which rose after an upbeat sales forecast. The pan-European STOXX 600 index fell 0.1% by 0722 GMT with broader sentiment remaining fragile on recession worries. Russia is set to cut more…
