(Reuters) – U.S. truck engine maker Cummins Inc on Tuesday raised its full-year 2023 revenue forecast, on the back of strong demand for parts across its markets. Supply chain issues, which led to a fall in production of new trucks, have forced truckers to keep their ageing fleet on roads for longer, which in turn…
By Mark Miller (Reuters) – The U.S. economy is in much better shape today than it was during the Great Recession. But persistent inflation and last year’s sharp stock market decline have shaken the confidence of American workers and retirees about their retirement prospects in a way not seen since 2008. That is the key…
By Clyde Russell LAUNCESTON, Australia (Reuters) -Asia’s imports of liquefied natural gas (LNG) fell in April as major buyers China and Japan trimmed purchases, offsetting small gains among South Asian countries. The total volume of the super-chilled fuel imported was 20.86 million tonnes in April, down from March’s 22.23 million and 22.19 million in February,…
(Reuters) – Tesla Inc was the biggest loser among top companies by market capitalisation in April, hit by disappointing quarterly earnings after it posted the lowest quarterly gross margin in two years. Tesla’s market cap dropped to $520.7 billion at the end of April from $657.5 billion in March, a 20.8% decline, pushing it to…
(Reuters) – Tesla Inc was the biggest loser among top companies by market capitalisation in April, hit by disappointing quarterly earnings after it posted the lowest quarterly gross margin in two years. Tesla’s market cap dropped to $520.7 billion at the end of April from $657.5 billion in March, a 20.8% decline, pushing it to…
By Leika Kihara INCHEON, South Korea (Reuters) – Bank of Japan Governor Kazuo Ueda said on Tuesday the downside risks to Asia’s economy were smaller than those to other parts of the world, partly due to the region’s resilience to U.S. and European banking sector woes. His remarks underscore optimism over the outlook for Asia’s…
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -Euro zone banks are turning off the credit taps and a key gauge of inflation is finally falling, data showed on Tuesday, boosting the case for a smaller interest-rate increase by the European Central Bank later this week. Core inflation in the euro zone, a closely watched…
(Reuters) -Restaurant Brands International Inc beat Wall Street estimates for first-quarter revenue and profit on Tuesday, boosted by higher prices and increased traffic at its Burger King and Tim Hortons chains. Last month, McDonald’s Corp and Chipotle Mexican Grill Inc also posted better-than-expected quarterly sales as they have been bumping up menu prices over the…
By David Milliken LONDON (Reuters) -Food prices in Britain rose by a record amount over the past 12 months but lower prices are on the horizon, offering some relief to squeezed consumers, the British Retail Consortium (BRC) said on Tuesday. The BRC, representing 5,000 retailers including supermarkets, said food prices at its members soared 15.7%…
(Reuters) – Marathon Petroleum Corp posted a bumper profit on Tuesday, benefiting from higher margins on sustained fuel demand and tight crude supplies, and announced an additional $5 billion share repurchase authorization. Pandemic-era closure of facilities and demand recovery have boosted margins for refiners, with crude supplies also coming under pressure after Russia’s invasion of…
