(Reuters) -Air Canada on Thursday raised its full-year forecast for core profit, citing a stronger-than-anticipated demand environment and lower-than-expected fuel costs. Shares of Canada’s largest carrier rose 10% on Friday. Easing restrictions spurred international travel demand, helping carriers to mitigate cost pressures even as rising inflation is making leisure activities more expensive. Despite a looming…
By Stephen Nellis (Reuters) -When Apple Inc surprised investors this week with a rise in iPhone sales despite a slump in the global smartphone market, Chief Executive Tim Cook credited emerging markets like India where the company is luring away Android phone users. Cook is betting that those markets will provide more opportunities for growth,…
MADRID (Reuters) – Spanish media company Prisa said on Friday its second-largest shareholder Vivendi, had obtained the Spanish government’s go-ahead to raise its stake in the publisher of the El Pais newspaper. The Spanish government has given authorisation for Vivendi to exchange the Prisa convertible bonds it acquired in February into equity, Prisa said in…
By Philip Pullella VATICAN CITY (Reuters) -Pope Francis on Friday praised the work of an international Vatican commission on sexual abuse prevention, following the recent acrimonious resignation of a high-profile member who accused it of lacking transparency. In an address to a plenary session of the Pontifical Commission for the Protection of Minors, Francis made…
By Leroy Leo and Khushi Mandowara (Reuters) -Cigna Group on Friday raised its annual profit forecast after lower medical costs at the company’s health insurance business helped it beat estimates in the first quarter, lifting shares 7.5% in morning trade. The health insurer also cut the midpoint of its 2023 medical cost ratio – or…
BRASILIA (Reuters) – Brazilian Finance Minister Fernando Haddad said on Friday that he favored taking a long-term view of inflation and that the central bank could begin cutting interest rates. He added, however, that the government could not pre-empt any decision on changing the inflation targets set by the National Monetary Council consisting of himself,…
MADRID (Reuters) – Spain’s main unions and representatives of employers reached a preliminary agreement on Friday to grant a 4% wage increase across the board in 2023, El Pais newspaper reported, citing unidentified sources close to the negotiation. The agreement also included wage increases of 3% in 2024 and in 2025, the newspaper as well…
By Kannaki Deka (Reuters) – Carvana Co’s shares soared as much as 55% on Friday after the struggling online used-car retailer’s surprise second-quarter profit forecast caught bearish investors on the wrong foot. Carvana endured a turbulent 2022 as the company struggled to offload used cars purchased at higher prices during the pandemic due to weak…
By Ismail Shakil OTTAWA (Reuters) -Canada’s economy added far more jobs than expected in April and the jobless rate stayed near a record low for a fifth consecutive month in a show of continued labor market resilience despite signs of an economic slowdown, data showed on Friday. The economy gained a net 41,400 jobs in…
By Hilary Russ NEW YORK (Reuters) – More job seekers are filling out applications to sling Big Macs at McDonald’s, and Starbucks baristas are staying in their jobs longer, as a cooling economy sends workers back to low-wage restaurant gigs and keeps them there. “We’re seeing the labor situations improving,” McDonald’s Chief Executive Chris Kempczinski…
