(Reuters) -Swedish industrials group Atlas Copco on Wednesday reported second-quarter operating profit that beat market forecasts, but said demand was expected to weaken in the near term, sending its shares lower. Operating profit adjusted for items affecting comparability rose to 9.49 billion Swedish crowns ($925 million) from 7.04 billion a year earlier, beating the 8.94…
JOHANNESBURG (Reuters) – South African retail sales fell 1.4% year on year in May after declining by a revised 1.8% in April, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales decreased 0.7%. Sales in the three months to the end of May were down 1.5% compared with the same period last…
SAO PAULO (Reuters) – Brazilian motor maker WEG SA reported a 50% jump in net profit, saying that “good demand” in the main regions where it operates helped it post positive figures. WEG, which in the last couple of years faced supply chain disruptions, managed to improve its results across the board in the quarter,…
KYIV (Reuters) -Ukraine accused Russia on Wednesday of intentionally striking grain terminals and infrastructure in the Black Sea port of Odesa, with one official saying the main aim was to stop Kyiv shipping grain from there. Russia attacked Odesa for the second consecutive night after quitting a deal on Monday that allowed the safe passage…
(Reuters) – M&T Bank Corporation beat Wall Street estimates for second-quarter profit on Wednesday, as the U.S. Federal Reserve’s rapid rate hikes to tame inflation boosted the lender’s interest income. Most consumer-facing lenders have tapped higher rates to charge more interest on their loans and credit card debt, with M&T’s upbeat results echoing larger rivals…
(Reuters) – Citizens Financial Group reported a second-quarter profit that beat Wall Street estimates as lenders’ net interest income rose in a high-interest-rate environment. The upbeat results follow a tumultuous first quarter in which the global banking crisis – triggered by the collapse of three mid-sized U.S. banks – led panicked consumers to pull billions…
(Reuters) – Ancient Buddhist murals in northwestern China are under “direct threat” as a result of unprecedented levels of rainfall brought about by climate change, researchers said on Monday. Extreme rainfall in Dunhuang and Zhangye in China’s Gansu province has put UNESCO-listed world heritage sites at risk, with cave monasteries dating back to the 4th…
BEIJING (Reuters) – China’s outstanding structural policy tools totalled 6.87 trillion yuan ($952.14 billion) at the end of June, the central bank said on Wednesday, up 0.7% from 6.82 trillion yuan at the end of March. The central bank has in recent years expanded its arsenal of structural policy tools, including relending and rediscount facilities…
By Josh Smith SEOUL (Reuters) – North Korea is likely to milk the border crossing by a U.S. soldier for propaganda purposes but will probably not be able to gain political leverage, analysts and a former North Korean diplomat said. Pyongyang may even end up paying a lot to keep U.S. Army Private Travis King…
(Reuters) – A look at the day ahead in U.S. and global markets from Mike Dolan July is heating up and cooling down at the same time – and it’s not just the extraordinary weather. Red-hot, Big Tech mega caps that have driven Wall St stocks to their highest in more than year start to…
