(Reuters) -Canadian retailer Loblaw on Wednesday beat Wall Street expectations for second-quarter revenue and profit, helped by sustained demand for groceries and drugs and higher prices. Retailers in Canada have banked on robust demand for essentials such as groceries despite stubbornly high pricing, after inflation pushed consumers to curb spending on non-essential goods. Loblaw has…
By Richa Naidu LONDON (Reuters) – Consumer companies and economists have said sentiment in China is slower than expected, but that’s not stopping them from buying more condoms, Durex maker Reckitt said on Wednesday. Economic data from China this month showed its post-pandemic surge was quickly fading, raising expectations that the government needs to bring…
FRANKFURT (Reuters) – Deutsche Bank on Wednesday said that it had hired 50 senior bankers in the origination and advisory business of its global investment bank and that a slump in activity affecting it and competitors was a thing of the past. The 50 managing directors and directors, and an unspecified number of junior bankers,…
By Maiya Keidan (Reuters) – It’s getting more difficult to land a job in the private equity industry — unless you are willing to join a smaller firm. Buyout firms specializing in small deals are braving a slowdown in hiring for dealmakers, as they skirt the financing and fundraising challenges hampering large leveraged buyouts, dealmakers…
By Bianca Flowers CHICAGO (Reuters) – U.S. equipment makers are likely to face excess inventory early next year as demand from farmers and construction companies cools, though second-quarter profit is expected to remain strong. Equipment dealers have struggled to keep tractors and combines in stock due to strong demand and supply-chain snarls that have kept…
By Safiyah Riddle (Reuters) – Weakening loan growth for U.S. banks and what top lending officers across the industry have to say about the credit outlook will color the debate U.S. Federal Reserve officials are having over where they push policy from here. Fed officials are broadly expected to raise their policy rate on Wednesday,…
A look at the day ahead in U.S. and global markets from Mike Dolan Alphabet outshone Microsoft as the latest two of the tech giants reported earnings overnight, with another regional bank merger exciting financial stocks as the Fed decides on interest rates. The blizzard of market-moving news has done little to rein in the…
NEW DELHI (Reuters) -IndiGo operator InterGlobe Aviation said on Wednesday it is working with Pratt & Whitney to assess any potential impact on its fleet, after a warning from the U.S. engine maker spooked global airlines. Pratt’s owner Raytheon said on Tuesday that a “rare condition” in powdered metal meant 1,200 of more than 3,000…
BEIJING (Reuters) – China’s industry ministry on Wednesday issued guidelines on standardisation of intelligent connected vehicles. The guidelines map out equipping the world’s largest auto market with a standards system in two phases. They include formulating a system that will support assisted and autonomous driving functions by 2025 and the roll-out of standards that will…
WASHINGTON (Reuters) – President Joe Biden is making a fresh push to force health insurance companies to improve access to mental health treatment for Americans who too often struggle to find and afford the care they need, officials said on Tuesday. The administration on Tuesday will release the text of a proposed rule change to…
