(Reuters) – Regeneron Pharmaceuticals Inc reported an about 46% plunge in its fourth-quarter profit on Friday, hurt by a drop in U.S. sales of its blockbuster eye drug, Eylea, and drying up of its COVID-19 antibody cocktail sales. The company reported net income of $1.20 billion, or $10.50 per share, in the quarter ended Dec. 31,…
By Mimosa Spencer PARIS (Reuters) – French luxury goods group Kering said on Friday it was entering the cosmetics business, with the announcement that it has recruited seasoned Estee Lauder executive Raffaella Cornaggia to head the push into the new segment. “We are building this new area of expertise within our Group to ensure that…
VILNIUS/PRAGUE (Reuters) – The European Central Bank is likely to raise interest rates again in May after an already signalled hike in March, two policymakers said on Friday, with one arguing that the peak or “terminal” rate is at least starting to appear on the horizon. The ECB raised rates by a half a percentage…
STOCKHOLM (Reuters) -Sweden-based Volvo Car AB said on Friday its sales increased by 2% year-on-year in January to 48,520 cars, but tumbled in China due to public holidays. Volvo Cars, which is majority-owned by China’s Geely Holding, said the increase at group level was led by markets such as Britain, Italy and Belgium while in…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Billionaire investor Ryan Cohen is building a large stake in Nordstrom Inc and plans to push the upscale retailer to shake up its board as its performance has lagged behind rivals, people familiar with the matter said on Thursday. Cohen, who built his fortune by co-founding online pet…
By Chavi Mehta and Jane Lanhee Lee BANGALORE/OAKLAND Calif (Reuters) – Qualcomm Inc forecast second-quarter revenue and profit below Wall Street estimates on Thursday as the chipmaker grapples with the combined toll of weak demand for smartphones and a supply glut, a situation that is expected to persist into the first-half of this year. The…
SEOUL (Reuters) – South Korea’s finance minister said on Friday the country’s exports and investment would be weak at least through the first half of the year and that the government would provide maximum support to ease the situation. “The government will provide maximum support to boost exports and investment by companies so that the…
By Unknown f70e0fa1-f662-4c5f-a841-bbe5694475cb and Nivedita Balu (Reuters) -Alphabet Inc on Thursday fell short of Wall Street expectations for fourth-quarter profit and revenue and Chief Executive Sundar Pichai said Google’s digital ad clients pulled back spending more in the period than in the preceding quarter. Shares of Alphabet were down nearly 5% in after-hours trading, after…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The Fed, ECB, and BoE have spoken, and the market’s message is: We hear you, but we don’t believe you. All three raised interest rates as expected this week, said they will act again at upcoming meetings, and…
(Reuters) -Adani Group Chairman Gautam Adani is in talks with lenders to prepay and release pledged shares as he seeks to restore confidence in the financial health of his conglomerate, Bloomberg News reported on Thursday. The move would see lenders release some of the stock in Adani Group companies that was pledged as collateral, Bloomberg…
