By Kanishka Singh WASHINGTON (Reuters) -Cable television network CNN has fired longtime host Don Lemon, the news anchor said in a post on Twitter on Monday, adding he was “stunned” by the step and that he was not directly informed of the termination by the network. “I was informed this morning by my agent that…
(Reuters) – Altria Group Inc missed sales expectations for the first quarter on Thursday, as price-sensitive consumers switched to cheaper brands of cigarettes and smokeless tobacco products. Hit by inflation, consumers have been trading down to affordable alternatives to the pricey traditional tobacco products that Altria sells, like the Marlboro brand family, which includes Special…
By Bianca Flowers and Aishwarya Nair (Reuters) – Heavy machinery maker Caterpillar Inc topped Wall Street expectations with a 31% rise in first quarter profit on Thursday but a flat order backlog left analysts thinking that demand may have peaked. Profit in the first quarter was lifted by a boost in U.S. infrastructure spending which…
(Reuters) – Industrial conglomerate Honeywell International Inc raised its full-year profit and revenue forecasts on Thursday, after posting a quarterly results beat on strength in its aviation unit. Shares of the company, which makes everything from engines to cockpit components, were up 2.4% at $195.50 before the bell. Aviation suppliers such as Honeywell and General…
BEIJING (Reuters) – China’s banking and insurance regulator said it would enhance credit support and lower the actual financing costs of small and micro enterprises this year to better support economic recovery. In a statement on Thursday, the China Banking and Insurance Regulatory Commission (CBIRC) said financial institutions should provide reasonable credits to small businesses,…
((This story has been corrected to add the word ‘contraction’ in the IMF estimate and change year to 2023, not 2024, in paragraph 4) ) By Uditha Jayasinghe NEW DELHI (Reuters) – Sri Lanka’s economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country…
(Reuters) – U.S. electric and gas utility firm DTE Energy Co beat estimates for first-quarter profit on Thursday, as lower costs and upbeat performance of a unit that develops energy projects partially offset a decline in demand for electricity and gas. Unfavourable weather including warmer-than-usual winter and storms in certain states were seen pressuring earnings…
BEIJING/SHANGHAI (Reuters) -Chinese electric vehicle giant BYD Co. posted a fivefold jump in its first-quarter profit on Thursday as the company consolidated its leadership in the domestic market. Net profit for the first three months of the year was 4.13 billion yuan ($596.56 million), up 410.9% from 808.41 million yuan a year earlier, on revenue…
BEIJING/SHANGHAI (Reuters) – CITIC Securities Co, China’s biggest brokerage, reported a 3.6% rise in first-quarter profit on Thursday, thanks to stronger investment returns as the economy recovers. Net profit in the January-March period rose to 5.4 billion yuan ($780.22 million), the company said in a stock exchange filing. The company’s investment income surged 89.6% year-on-year…
MADRID (Reuters) – The Spanish government intends to lower the budget deficit to the equivalent to 3% of gross domestic product in 2024 from 3.9% projected for this year, Budget Minister Maria Jesus Montero said on Thursday. The plan means Spain should reach the 3% level usually considered healthy for public finances one year earlier…
