By Chris Thomas and Aditya Kalra BENGALURU (Reuters) – Shares in Indian tycoon Gautam Adani’s conglomerate plunged again on Wednesday as a rout in his companies deepened to $86 billion in the wake of a U.S. short-seller report, with the billionaire also losing his title as Asia’s richest person. Wednesday’s stock losses saw Adani slip…
By Douglas Gillison WASHINGTON (Reuters) – The White House on Wednesday was due to announce fresh efforts to slash credit card late fees and drive down the prices that Apple Inc and Google parent Alphabet Inc charge on mobile app stores, part of a larger policy drive to promote competition in consumer markets, officials said….
GDANSK (Reuters) -Poland’s competition watchdog has accused e-commerce firm Amazon’s European unit of misleading sales and delivery practices, the Office of Competition and Consumer Protection (UOKiK) said on Wednesday. The office said consumers on Amazon’s Polish website were misled as to the moment a sales contract is concluded, product availability, delivery times and consumer rights,…
NEW YORK (Reuters) – The negative impact of currency fluctuations on North American companies’ results rose sharply again in the third quarter of 2022, data from treasury and financial management firm Kyriba showed on Tuesday. The collective exchange-rate hit, including on companies in the United States, Canada and Mexico, was $43.15 billion in the third…
By Maggie Fick and Natalie Grover (Reuters) – GSK on Wednesday beat fourth-quarter profit and sales forecasts helped by sales of its blockbuster shingles vaccine Shingrix and unveiled an upbeat forecast for 2023. The positive outlook and strong Q4 results are the latest endorsement of chief executive Emma Walmsey’s spin-off last year of consumer business…
SHANGHAI (Reuters) – Chinese investors are starting to shift money from bonds to stocks, betting on a robust recovery for riskier assets as the government’s policy pivots to boost growth, the latest report on mutual funds showed. Foreign money has also been flowing into China equities, sending the benchmark index up 7.4% in January, although…
ZURICH (Reuters) – ABB has raised 325 million Swiss francs ($355 million) from selling a further part of its electric vehicle (EV) charging business to four minority investors, the Swiss engineering and technology company said on Wednesday. The investors will take a combined 12% stake in the E-Mobility business in the final round of private…
By Ludwig Burger BASEL (Reuters) -Swiss drugmaker Novartis on Wednesday predicted that core operating income would grow in a “mid single digit” percentage range in 2023, following stagnation last year. Full-year core operating income was broadly flat at $16.7 billion, it said in a statement, coming in slightly below market expectations of $16.8 billion. Adjusted…
BERLIN (Reuters) – The United States remained the most important destination for German exports in 2022 for the eighth consecutive year. Exports of goods reached a record 156 billion euros ($169.31 billion) last year, according to Reuters calculations based on preliminary data from the German statistics office. German exports to the United States in 2022…
