(Reuters) – PACCAR Inc beat market estimates for second-quarter profit and sales, helped by strong demand for its trucks and aftermarket parts. A strong freight market and a focus on bolstering logistics networks amid sustained e-commerce deliveries aided demand for long-haul trucks, boosting sales for companies such as PACCAR. A global shortage of semiconductors and…
By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund on Tuesday called for better coordinated efforts to address the causes of climate change, warning extreme weather is posing material risks to countries globally, especially developing economies already saddled with high debts. IMF Chief Economist Pierre-Olivier Gourinchas said the case of Argentina, which has seen…
(Reuters) – Dover Corp on Tuesday forecast annual profit largely below Wall Street expectations and missed second-quarter estimates, as manufacturing and shipment disruptions due to a system upgrade hit the company’s vehicle services business. Shares of the company were down 3.6% at $146.50 in premarket trading. The industrial equipment manufacturer expects its full-year adjusted profit…
By David Milliken LONDON (Reuters) – The International Monetary Fund confirmed its latest forecast for British economic growth this year, saying cheaper energy, better relations with the European Union and calmer financial markets had improved the outlook since the start of 2023. Britain’s gross domestic product is expected to grow 0.4% this year and 1.0%…
By Ludwig Burger and Maggie Fick FRANKFURT/LONDON (Reuters) – Frustrated after countless failed diet and exercise attempts, 41 year-old Jessica Lenth from Hamburg has started putting money aside for a drug that she sees as a possible door to a life without obesity. Interviews with seven doctors and two other potential users of Wegovy from…
By David Randall NEW YORK (Reuters) – Some investors are giving the shares of dividend-rich companies a second look as expectations grow that the Federal Reserve is nearing the end of a rate-hiking cycle that has lifted bond yields to their highest level in nearly two decades. The Fed’s most aggressive rate increases in a…
By Richa Naidu LONDON (Reuters) -Nestle and Danone are among firms whose product prices in France have risen by more than 10% this year, data shows, potentially putting them under government pressure to renegotiate with French retailers. Finance Minister Bruno Le Maire said on June 9 he had secured a pledge from 75 food companies…
(Reuters) – Specialty glass maker Corning forecast third-quarter core sales below Wall Street estimates on Tuesday, as it grapples with the ongoing slump in the consumer electronics market. Corning said it expects core sales of about $3.5 billion in the three months ending September, compared with analysts’ estimates of $3.70 billion, according to data from…
BRASILIA (Reuters) – Brazil’s government issued an executive order on Tuesday to initiate taxation on sports betting, in line with a measure announced by President Luiz Inacio Lula da Silva’s economic team to increase revenues. The measure takes immediate effect but must be voted on by Congress within four months to remain valid. Under the…
By Chris Prentice and Tom Sims NEW YORK/FRANKFURT (Reuters) – The U.S. Securities and Exchange Commission is preparing to resolve a two-year probe into allegations of greenwashing by the German fund manager DWS, with a fine by the end of September, two people with knowledge of the matter said. Resolution of the case with the…
