By Linda Pasquini and Elizaveta Gladun (Reuters) -German sportswear maker Puma said on Wednesday it expected second-quarter sales to grow at a low- to mid-single-digit percentage rate, below its full-year target, due to high inventory levels as persistently high inflation blunts demand. However, the firm beat first-quarter revenue expectations, saying strong growth globally, including Greater…
SAO PAULO (Reuters) – Brazilian motor maker WEG SA on Wednesday reported a first-quarter net profit of 1.3 billion reais ($257.29 million), up 38.4% from a year earlier and roughly in line with analysts’ forecasts in a Refinitiv poll. WEG said the quarter was marked by a good performance in its main foreign markets as…
By Fergal Smith TORONTO (Reuters) – Canadian inflation excluding food and energy costs is expected to remain above 3% until the fourth quarter of this year, the median forecast of seven economists recently surveyed by Reuters showed, which could dash hopes of an early Bank of Canada shift to cutting interest rates. While Canadian inflation…
By David Brunnstrom WASHINGTON (Reuters) – At a summit with South Korean leader Yoon Suk Yeol on Wednesday, U.S. President Joe Biden will seek to reassure South Koreans that the U.S. nuclear umbrella is sufficient protection from North Korean attack. But with North Korean missiles now a direct threat to the United States, an old…
LONDON (Reuters) – British retail sales inched higher in April, although most shop chains do not foresee a lasting improvement, an industry survey showed on Wednesday. The Confederation of British Industry’s monthly retail sales balance rose to +5 in April from +1 in March, its highest level this year. Expectations for May were slightly negative,…
(Reuters) -Hilton Worldwide Holdings Inc raised its full-year adjusted profit forecast on Wednesday as the U.S. hotel operator bets on pent-up travel demand to offset any inflation-driven spending declines. The hotel industry has benefited from price hikes and a rebound in travel demand after COVID lockdowns, with consumers booking longer stays despite rising interest rates…
COPENHAGEN (Reuters) -The world’s biggest lockmaker Assa Abloy on Wednesday posted a higher than expected first-quarter operating profit after a “very strong” start to the year and said it would raise prices again to offset inflationary pressure. Operating profit at the Swedish group fell to 3.96 billion crowns in the first three months of the…
WASHINGTON (Reuters) – Florida Governor Ron DeSantis’ battles with Walt Disney Co over a state law banning public school lessons on sexual orientation and gender identity could boost his support among U.S. Republican voters as he mulls a possible White House bid, a Reuters/Ipsos poll found. DeSantis has been tussling with Disney for over a…
BUDAPEST (Reuters) – Price caps to curb surging inflation and windfall taxes imposed by Hungary’s government have hurt sentiment among German firms in the country, a business survey showed on Wednesday. Germany is Hungary’s biggest foreign investor, giving the survey by the German-Hungarian Chamber of Industry and Trade extra resonance. It showed the assessment of…
BERLIN (Reuters) – Germany expects to post a deficit of 4.25% of gross domestic product (GDP) in 2023, up from a 2.6% deficit the previous year, according to finance ministry calculations published on Wednesday. Overall, the deficit is projected to be gradually reduced to about 0.75% of GDP by 2026. “In the crises of the…
