By Francesco Canepa and Belén Carreño FRANKFURT/MADRID (Reuters) – The euro zone economy is barely growing but inflation in the bloc remains high, leaving the European Central Bank with little choice but to inflict more financial pain on households and businesses to tame prices. Buffeted for more than a year by the surge in fuel…
(Reuters) – Intel Corp shares rose nearly 6% as the once-dominant chipmaker’s quarterly print indicated “baby step progress” in efforts to turn around its business after ceding market share to rivals and struggling with all-time low margins. At least 13 brokerages raised their target price on the stock that has underperformed rivals this year, encouraged…
(Reuters) – Colgate-Palmolive Co raised its full-year organic sales forecast on Friday, betting on consistent price hikes and steady demand for its pet nutrition products. The company’s shares rose about 2% in premarket trading after it also beat first-quarter revenue and profit expectations. Like many consumer product makers, Colgate-Palmolive has been raising prices to battle…
By Gabrielle Tétrault-Farber GENEVA (Reuters) -A United Nations committee said on Friday it was deeply concerned about human rights violations by Russian forces and private military companies in Ukraine, including enforced disappearances, torture, rape and extrajudicial executions. In its findings on Russia, the U.N. Committee on the Elimination of Racial Discrimination called on the Russian…
By Gavin Jones and Giuseppe Fonte ROME (Reuters) -Italy’s economy grew by 0.5% in the first quarter from the previous three months, preliminary data showed on Friday, a stronger recovery than expected after a slight contraction at the end of last year. On a year-on-year basis, first quarter gross domestic product in the euro zone’s…
(Reuters) – Sharpie-maker Newell Brands Inc on Friday forecast annual sales and profit at the low end of its previous outlook, signaling a hit from softer demand for its products and higher costs. Shares of the company fell about 2% in premarket trading. While the supply chain snags gradually ease, the Atlanta-based company is still…
SAO PAULO (Reuters) – Brazilian planemaker Embraer SA said on Friday it has sold 33 Ipanema 203 aircraft in the first quarter of 2023, a 38% increase from the same period of 2021, predicting to end the year with a sales volume similar to or better than 2022’s 66 planes. “With the positive performance at…
TOKYO (Reuters) – Toyota Motor Corp affiliate Daihatsu rigged part of the door in side-collision safety tests carried out for some 88,000 small cars, most of which were sold under the Toyota brand, the companies said on Friday. They said the door trim on the affected vehicles had been modified with a “notch” to minimise…
By Alex Lawler LONDON (Reuters) – The U.S. crude oil being added to the global Brent benchmark will lack the list of cargoes scheduled to load that could help set the price, a change for an industry that is accustomed to using such programmes to assess supplies. Oil-index publisher S&P Global Platts is adding U.S….
By Kiyoshi Takenaka and Tim Kelly TOKYO (Reuters) -Sony Group Corp on Friday said PlayStation 5 sales will jump by six million units this business year, but forecast its profit will slip from a record high as weaker financial services sales offset gains from gaming, music and movies. The Japanese company said it expects operating…