(Reuters) -Chemicals maker Dow Inc on Thursday reported an over 58% surge in first-quarter profit, helped by stronger product prices as supplies remained tight amid robust demand. With demand rising thanks to an economic recovery from the pandemic, Dow has boosted its prices as it combats supply-chain pressures, logistical snags and weather-related outages at plants….
PARIS (Reuters) -Bernard Arnault, the head of luxury giant LVMH said on Thursday his business empire was eying expanding into the digital “metaverse”, but stressed that the company still wants to sell “real products”. “We’re looking closely”, said Chief Executive Bernard Arnault, but added that he saw “no need to rush”. Arnault, who was addressing…
(Reuters) – The Russian central bank will consider cutting the key interest rate from 17% at upcoming board meetings, Governor Elvira Nabiullina said on Thursday, flagging economic challenges that Russia will face as it tries to blunt western sanctions over Ukraine. Nabiullina also said Russia is looking at adjustments to its forex controls to avoid…
By Silke Koltrowitz ZURICH (Reuters) – Nestle on Thursday confirmed it expects to grow sales around 5% and keep margins broadly stable this year after higher pet food, dairy and coffee prices did not deter consumers in the first quarter, forecasting more price increases ahead. Russia’s invasion of Ukraine has forced consumer goods companies to…
By Julia Love and Tiyashi Datta (Reuters) -Workers at an Apple Inc store in Atlanta on Wednesday filed a petition to hold a union election, seeking to become the company’s first U.S. store to unionize amid a wave of labor activity at other major firms. The effort at the Apple store in Cumberland Mall is…
A look at the day ahead in markets from Sujata Rao. The ink is barely dry on global growth forecast downgrades from the World Bank and International Monetary Fund, but banks are rushing out their own gloomy assessments. “Prepare for a hard landing,” Deutsche Bank shrilled in a Wednesday report. Flagging the possibility of a…
BERLIN (AP) — The World Health Organization says that the number of reported new COVID-19 cases worldwide decreased by nearly a quarter last week, continuing a decline since the end of March. The Geneva-based U.N. health agency said in a weekly report that nearly 5.59 million cases were reported between April 11 and 17, 24%…
BEIJING (AP) — China’s credit card processor has refused to work with banks in Russia for fear of being targeted by sanctions over its war on Ukraine, cutting off a possible alternative after Visa and Mastercard stopped serving them, according to the Russian news outlet RBC. UnionPay’s decision affects Sberbank, Russia’s biggest commercial bank, and…
TOKYO (AP) — Asian shares fell Friday, tracking losses on Wall Street after Federal Reserve Chair Jerome Powell indicated increases in interest rates must be faster to fight inflation. Major indexes cascaded downward in Asia, with the drop pronounced at nearly 2% in Tokyo. Japan’s consumer price index data showed an increase for the seventh…
By Mohi Narayan and Sonali Paul (Reuters) – Oil prices rose on Thursday as concerns about supply due to a potential European Union (EU) ban on Russian oil came to the fore, days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.32, or 1.24%, to $108.12 a barrel at 0636 GMT….
