By Joseph White LOUISVILLE, Kentucky (Reuters) – Shutting down the assembly lines that build Super Duty pickup trucks at Ford Motor Co’s Kentucky Truck Plant is a multimillion-dollar action company managers try hard to avoid. As part of a new approach to stamping out quality demons, Kentucky Truck Plant manager Joseph Closurdo said he stopped…
PRAGUE (Reuters) – The Czech Republic’s budget deficit doubled to 200 billion crowns ($9.30 billion) in January-April, a record for the four-month period and reaching two thirds of the full-year target, raising doubts the plan will be met. Overall expenditure rose 26.7% due to higher social costs including pensions and subsidies to bring down energy…
By Liz Hampton DENVER (Reuters) – U.S. shale producer Diamondback Energy on Tuesday said rig prices are falling and steel costs are set to decline by about $20-$25 per foot, a sign the inflationary pressures that plagued the oilfield in the past year are easing. Diamondback’s second-quarter average rig dayrate is down from the first…
By Medha Singh (Reuters) -What’s the cost of students using ChatGPT for homework? For U.S. education services provider Chegg Inc, it could be nearly $1 billion in market valuation. Chegg signaled the rising popularity of viral chatbot ChatGPT was pressuring its subscriber growth and prompted it to suspend its full-year outlook, sending shares of the…
By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan inflation rose to a record 36.4% in the year to April driven mainly by food prices, the highest rate in South Asia and up from March’s 35.4%, the statistics bureau said on Tuesday. Pakistan’s rural areas recorded food inflation of 40.2%, the bureau told Reuters. Food inflation for…
By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan inflation rose to a record 36.4% in the year to April driven mainly by food prices, the highest rate in South Asia and up from March’s 35.4%, the statistics bureau said on Tuesday. Pakistan’s rural areas recorded food inflation of 40.2%, the bureau told Reuters. Food inflation for…
By Sourasis Bose (Reuters) – Top U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc raised its 2023 core earnings forecast on Tuesday after reporting a quarterly profit compared with a year-ago loss, sending its shares up about 1.8% in premarket trading. The United States has emerged as the world’s largest LNG exporter after Western…
(Reuters) – U.S. food distributor Sysco Corp missed Wall Street expectations for third-quarter profit on Tuesday, hurt by higher raw material costs and a stronger dollar. Shares of the Texas-based company fell about 2% in premarket trading. While supply chain constraints have started to gradually ease, this is having little impact on Sysco as it…
By Vitalii and Hnidyi HRAKOVE, Ukraine (Reuters) – A Ukrainian farmer has come up with a novel way to remove mines left in his fields after Russia’s invasion — he’s kitted out his tractor with protective panels stripped from Russian tanks and operates it by remote control. After Russian forces were driven back from parts…
By Alexander Marrow and Elena Fabrichnaya (Reuters) – Russia will keep interest rates on hold at 7.5% in 2023 as inflation ends the year above target and the economy grows marginally, a Reuters poll showed on Tuesday, with analysts split on whether the central bank’s hawkish stance is justified. The Bank of Russia kept the…
