(Reuters) – Hospital operator HCA Healthcare Inc on Thursday raised its annual profit forecast, betting on a recovery in surgical procedure volumes. The volumes of medical procedures are trending upwards after the U.S. government ended the public health emergency status for COVID-19 in May. Patients, particularly older adults, have been returning to hospitals for procedures…
(Corrects dateline) (Reuters) -Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world’s second-largest economy from a pandemic slowdown. Following are comments from firms on their China business during the latest reporting season: Company China recovery comments Citigroup The lender…
(Reuters) – A. O. Smith on Thursday raised its full-year adjusted profit forecast, helped by lower cost of steel and strong demand for water heaters in North America. The Milwaukee, Wisconsin-based company now expects an adjusted profit of $3.45-$3.60 per share, compared with its prior projection of $3.30-$3.50 per share. “We saw improvement in consumer…
By Victoria Waldersee and Miranda Murray BERLIN (Reuters) -Volkswagen on Thursday cut its full year sales target and pledged to improve its cash position in the second half by hiking prices and cutting costs as the German carmaker seeks to fend off tough competition in China, its top market. The reduced sales target of 9-9.5…
By Helen Reid, Corina Pons LONDON (Reuters) -Zara owner Inditex is in the process of stopping purchases from Myanmar, the company told Reuters on Thursday, as a result of a campaign by global workers’ union IndustriALL to convince companies to divest from the country. “Inditex is in the process of a phased and responsible exit…
(Reuters) – Auto parts distributor LKQ Corp lowered its full-year profit and sales guidance on Thursday, as falling commodity prices drag down growth prospects. LKQ, which also sells scrap and other materials to metal recyclers, have been hurt by falling metal prices. The company had earlier forecast metal prices to be a headwind in coming…
By Fabian Cambero SANTIAGO (Reuters) – Chile is expected to cut its benchmark interest rate on Friday, the first major Latin American economy to do so since a wave of hikes to contain surging post-pandemic inflation, in a likely sign of loosening monetary policy in the region. Chile and most major Latin American economies hit decades-high…
By Timothy Gardner and Laura Sanicola WASHINGTON (Reuters) -The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven’s price cap on Russian oil as the crude trades over that level, sources and experts said. The approach reflects a desire…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) -Shell on Thursday reported a 56% fall in second-quarter profit to $5 billion as oil and gas prices and refining profit margins fell, prompting the energy giant to slow its share repurchase programme. The earnings, which missed forecasts, follow bumper earnings in 2022 after energy prices surged…
By Gilles Guillaume and Giulio Piovaccari PARIS (Reuters) – Western automakers are fretting about an “invasion” of cheap Chinese electric cars in Europe, prompting France’s Renault to say on Thursday it was aiming to slash production costs for its electric models by 40%. Finance chief Thierry Pieton said the best way to fend off price…
