(Reuters) – Kimberly-Clark Corp raised its full-year sales and profit forecasts on Tuesday, as the maker of Kleenex tissues and KleenGuard benefits from price increases and resilient demand for essential products. Pandemic-induced supply-chain disruptions that was worsened by Russia’s invasion of Ukraine crisis fueled a spike in transportation and raw materials costs, forcing consumer goods…
By Patrick Wingrove (Reuters) – Cheaper versions of one of the most costly and widely used arthritis treatments in the U.S. are likely to fuel further scrutiny of the middlemen that negotiate drug prices for most insured Americans from lawmakers and the federal government, according to healthcare experts. Seven drugmakers this month launched their own…
By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) -Indonesia’s central bank held policy rates steady for the sixth straight review on Tuesday, saying current levels are enough to ensure inflation stays within its target this year while global uncertainties are expected to ease. Bank Indonesia (BI) also kept its 2023 economic growth projections unchanged in…
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Swiss private bank Julius Baer will end all business with clients based in Russia, it told them in a letter seen by Reuters on Tuesday, as wealth managers navigate a widening net of sanctions and restrictions related to Moscow’s invasion of Ukraine. Julius Baer will cease business with clients…
STOCKHOLM (Reuters) -Spotify Technology SA on Tuesday reported second-quarter results that comfortably beat expectations for both monthly active users and subscribers, and forecast the number of listeners each month would reach 572 million next quarter. After laying out plans last year to get 1 billion users by 2030 and to reach $100 billion revenue annually,…
LONDON (Reuters) – British manufacturing orders declined in July at the weakest rate this year, while expectations for increases in selling prices cooled further, an industry survey showed on Tuesday. The Confederation of British Industry’s monthly balance of new orders rose this month to -9 from -15 in June, the highest reading since December and…
A look at the day ahead in U.S. and global markets from Mike Dolan Buoyant Wall St stocks brace for a critical test of this year’s extraordinary surge in Big Tech shares as Microsoft and Alphabet both report after the bell on Tuesday, just as Federal Reserve officials kick off their two-day policy meeting. The…
By Ludwig Burger and Thomas Escritt (Reuters) -Further deterioration in demand for glyphosate-based weed killers led Bayer to cut its full-year earnings outlook and announce a 2.5 billion euro ($2.8 billion) write-down on glyphosate-related assets. In an unscheduled statement late on Monday, the German drugs and pesticides maker said it was projecting 2023 earnings before…
By Blake Brittain (Reuters) – Billionaire Elon Musk’s decision to rebrand Twitter as X could be complicated legally: companies including Meta and Microsoft already have intellectual property rights to the same letter. X is so widely used and cited in trademarks that it is a candidate for legal challenges – and the company formerly known…
By Max A. Cherney (Reuters) – The U.S. semiconductor industry faces a shortfall of roughly 67,000 workers by 2030, according to an industry association study published on Tuesday. The chip industry’s workforce is projected to grow to 460,000 by the end of the decade, up from roughly 345,000 this year. But at the current rate…
