By Richa Naidu LONDON (Reuters) – Nestle reported slightly better-than-expected first-quarter sales on Tuesday, as the world’s biggest packaged food company increased prices to offset weak sales volumes. The Swiss company, which makes KitKat chocolate bars, Nescafe coffee and Maggi stock cubes, said sales rose 5.6% to 23.5 billion Swiss francs ($26.48 billion) in the…
By Mike Stone and Pratyush Thakur WASHINGTON (Reuters) – Raytheon Technologies Corp reported a 4% rise in quarterly adjusted profit on Tuesday, as the aerospace and defense company saw strong Chinese demand for commercial aircraft spare parts and services. “The rebound in China was explosive,” chief financial officer Neil Mitchell said in an interview. “We…
LONDON (Reuters) -The chairman of NatWest Howard Davies, one of the most storied figures in UK finance, said on Tuesday he would leave the British bank by next year, paving the way for a leadership revamp at the lender still around 40% owned by the UK taxpayer. At NatWest’s annual investor meeting in Edinburgh, banking…
By Jonathan Stempel (Reuters) – First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest rates threatened its business model by prompting an exodus of deposits. The lawsuit filed late Monday in San Francisco federal court accused First Republic and its auditor KPMG of misrepresenting…
(Reuters) – Truckmaker PACCAR Inc on Tuesday beat first-quarter profit and revenue estimates as demand for its truck models and aftermarket parts remained strong, boosted by customers looking to replace ageing fleets. Shares of the Bellevue, Washington-based company were up 1.65% at about $75 in premarket trading. The company benefited from a surge in ecommerce…
By Hyunsu Yim (Reuters) -Netflix Inc said on Tuesday it will invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies and unscripted shows, doubling its investment in the market since 2016. The U.S. streaming service made the announcement after a meeting between South Korean President Yoon Suk…
By Huw Jones LONDON (Reuters) – The long-delayed forum for European Union and British financial regulators won’t reopen the door for London’s financial centre to the bloc, EU lawmakers were told on Tuesday. The Windsor agreement on EU-UK arrangements for Northern Ireland will mean that the delayed UK-EU memorandum of understanding (MOU) for a regulatory…
(Reuters) -Biogen Inc said on Tuesday it would pause or discontinue studies of some experimental drugs and therapies and focus on more promising treatments, in the latest attempt by the new chief to cut costs. CEO Christopher Viehbacher has been looking for ways to keep costs in check as it prepares to increase marketing efforts…
By Helen Coster (Reuters) -Fox News Media and its top-rated host Tucker Carlson have agreed to part ways, less than a week after parent company Fox Corp settled for $787.5 million a defamation lawsuit in which Carlson played a starring role. The outspoken Carlson embraced conservative issues and delivered his views with a style that…
(Reuters) – Specialty glass maker Corning Inc beat profit estimates for the first quarter on Tuesday as price hikes more than made up for higher raw material costs and a demand slowdown. Shares of the company, whose Gorilla glass is used in smartphones of companies including Apple Inc and Samsung Electronics, rose 2% in premarket…
