By Rachel More BERLIN (Reuters) -German business morale deteriorated in July for the third month in a row, a survey showed on Tuesday, as analysts warned that Germany’s economic engine was struggling to recover after slipping into recession earlier this year. The Ifo institute said its business climate index stood at 87.3 following a revised…
(Reuters) – GE HealthCare Technologies Inc raised its annual profit forecast on Tuesday, after beating quarterly earnings estimates due to easing supply chain issues that had largely impacted electronic components during the pandemic. The X-ray and ultrasound machine maker managed to keep its costs in check while also seeing an improvement in production and pricing…
By Richa Naidu LONDON (Reuters) – Unilever, which makes Ben & Jerry’s and Magnum ice creams, said on Tuesday that it hopes to sell more ice cream in Europe this summer but extreme temperatures could dent sales as consumers turn to fizzy drinks instead. This month has seen record-breaking temperatures in southern Europe and the…
BEIJING (Reuters) – Several Chinese steel mills have received instructions to cap this year’s output at the same level as 2022, five people familiar with the matter and analyst reports said on Tuesday, potentially curbing iron ore demand in the world’s top steel market. Three mills owned by the world’s biggest steelmaker, state-owned China Baowu…
(Reuters) – Moody’s Corporation beat Wall Street estimates for second-quarter revenue on Tuesday, helped by steady demand from investors for its data, analytics and research services. Customer demand for the firm’s ‘Know Your Customer’ solutions as well as banking and insurance services has remained resolute against an uncertain macroeconomic environment, offsetting a hit from muted…
By Richa Naidu LONDON (Reuters) – Unilever, which has faced criticism for over a year for remaining in Russia, said on Tuesday that it could abandon, sell or retain its operations there but the “least bad” option is to “pursue our business but in a highly constrained manner”. The Russian state this month took control…
By Olivier Sorgho (Reuters) -Randstad, the world’s biggest staffing firm, on Tuesday flagged weaker demand in a “challenging” jobs market, even as it beat expectations for second-quarter core earnings. Randstad, which recruits for companies and helps people find jobs, echoed the warnings of other recruiters as tough economic conditions drive some employers to job cuts…
By Kevin Yao BEIJING (Reuters) – China’s new central bank governor Pan Gongsheng brings with him the reputation of a firefighting technocrat, signalling growing concerns among the country’s leadership over systemic risks in the $57 trillion financial sector. Pan, who came to prominence fighting capital outflows last decade, will be tasked with stabilising a faltering…
By Praveen Paramasivam CHENNAI (Reuters) -Jubilant FoodWorks reported a 74% fall in quarterly profit on Tuesday as the Indian franchisee of Domino’s Pizza grappled with higher costs while also spending heavily to expand in the country. Consolidated profit fell to 289.2 million rupees ($3.53 million) in the first quarter ended June 30, from 1.13 billion…
(Reuters) – PulteGroup Inc beat Wall Street estimates for second-quarter profit and revenue on Tuesday, as strong demand for affordable housing and tight resale inventory boosted new home sales. Existing home-owners locked into a lower mortgage rates have been unwilling to re-sell their houses in a high interest rate environment, driving consumers to purchase new…
