MILAN (Reuters) – Generali shareholders will vote to select a chief executive and board of directors on April 29. Philippe Donnet, who has been CEO at Europe’s third-largest insurer since 2016, is running for reappointment with the backing of Generali’s outgoing board and its leading shareholder Mediobanca. Donnet’s candidacy is opposed by Italian tycoon Francesco…
Boeing said Wednesday that it lost $1.2 billion in the first quarter as it and took large write-downs and lost money in both its civilian-airplane and defense businesses. The loss was bigger than Wall Street had forecast, and the company’s quarterly revenue also fell short of expectations. Boeing burned through $3.2 billion in cash. “Messier…
By Pushkala Aripaka and Natalie Grover (Reuters) – GSK beat first-quarter sales and earnings forecasts on Wednesday, helped by demand for its COVID-19 therapy and shingles vaccine, as the drugmaker moves towards the July separation of its consumer health business. Shares of the British company, which also reiterated its 2022 financial forecasts, were up about…
(Reuters) – Gulfstream jet maker General Dynamics Corp on Wednesday posted a 3.1% rise in first-quarter profit, as demand for private air travel during the COVID-19 pandemic remained high. Cautious passengers who opted for private flights instead of commercial flights due to fears of contracting COVID-19 have helped drive U.S. private air traffic higher than…
LONDON (AP) — A hands-off approach to moderating content at Elon Musk’s Twitter could clash with ambitious new laws in Europe meant to protect users from disinformation, hate speech and other harmful material. Musk, who describes himself as a “free speech absolutist,” pledged to buy Twitter for $44 billion this week, with European Union officials…
By Shadia Nasralla (Reuters) – Oil was broadly steady on Wednesday after Russia cut gas supplies to Bulgaria and Poland, while lingering concerns about Asian coronavirus lockdowns weighing on economic growth and oil demand kept a lid on prices. Having dipped into negative territory, Brent crude futures rose 53 cents, or 0.5%, to $105.52 a…
ZURICH (Reuters) – Credit Suisse has no plans for a capital increase, a source familiar with the matter told Reuters on Wednesday, after the Swiss bank reported a dip in capitalisation. As the bank reported a 273 million Swiss franc ($283.6 million) first-quarter loss on Wednesday, executives said capital could remain constrained over the next…
WARSAW, Poland (AP) — Polish and Bulgarian leaders accused Moscow of using natural gas to blackmail their countries after Russia’s state-controlled energy company stopped supplying them with gas Wednesday. European Union leaders echoed those comments and were holding an emergency meeting on the Russian move. The gas cutoff to Poland and Bulgaria came after Russian…
HELSINKI (Reuters) – Elevator-maker Kone posted weaker-than-expected first-quarter core earnings on Wednesday, burdened by supply chain constraints and a decline in its China business, and trimmed its full-year sales and earnings outlook. January-March operating profit fell to 171.1 million euros ($181.6 million) from 249.8 million euros a year earlier, missing the 225.8 million euro estimate…
(Reuters) – Russia expects the economy to contract by 8.8% in 2022 in its base case scenario, or by 12.4% under a more conservative scenario, an economy ministry document showed on Wednesday, further evidence that sanctions pressure is taking its toll. The conservative forecast is in line with that of former finance minister Alexei Kudrin,…
