By Stephanie Hamel and Diana Mandia (Reuters) – JDE Peet’s NV will from the end of the year sell coffee and tea in Russia only under local brands, it said on Wednesday, as it lowered its annual earnings target, saying the business impact was uncertain. Shares were down 1.6% at 1300 GMT The maker of…
By Jorgelina do Rosario and Karin Strohecker LONDON (Reuters) – A helping hand from China saw Argentina avert a default with the International Monetary Fund for the second time in 30 days, as the cash-strapped country tapped almost $3 billion of a Beijing currency swap line to pay the multilateral lender. Accessing yuan to make…
LISBON (Reuters) – Pope Francis arrived in Lisbon on Wednesday to start a five-day visit centred around the World Youth Day, a global gathering of young Catholics. The ITA Airways plane carrying the pontiff, his entourage and reporters landed at Lisbon’s Figo Maduro military air base. His first stop will be a welcoming ceremony hosted…
(Reuters) – CVS Health said on Wednesday it has eliminated about 5,000 non customer-facing roles as it seeks to rein in costs after a recent spree of acquisitions. CEO Karen Lynch said on an earnings conference call that the $496 million restructuring charge recorded during the second quarter was related to the job cuts and…
By Lisa Richwine STUDIO CITY, California (Reuters) – For actors trying to make it in Hollywood, a small residual check from one of their first jobs used to prompt laughter, and at one neighborhood watering hole, a drink on the house. Residuals Tavern provided a free beer to any performer who brought in a check…
LONDON (Reuters) – Vodafone said on Wednesday it had agreed a long-term, exclusive national roaming partnership deal to provide 5G mobile coverage to 1&1’s customers in Germany, in a deal which it said would be cashflow accretive from its 2026 financial year. Vodafone’s new Chief Executive Margherita Della Valle is leading a turnaround of the…
(Reuters) – Navigation equipment maker Garmin beat market estimates for second-quarter revenue and profit on Wednesday, thanks to strong growth in its auto and fitness businesses. The company has been leaning on its diversified presence that spans smartwatches, GPS devices and technology used in vehicles to help ride out weaker spending by consumers and corporates…
By Rod Nickel WINNIPEG, Manitoba (Reuters) – TC Energy’s surprise plan last week to split the company accelerated a stock selloff, but shareholders bet the North American pipeline operator will finish the year on a higher note by completing the troubled Coastal GasLink project. Shares of Calgary, Alberta-based TC, which has a market value of…
(Reuters) – Auto parts supplier BorgWarner reported second-quarter results on Wednesday that beat analysts’ estimates, helped by sustained demand from automakers ramping up output. The Michigan-based company, whose customers include Volkswagen, General Motors and Ford, over the past two years has also been realigning itself to become an EV supplier. On an adjusted basis, BorgWarner…
(Reuters) -Kraft Heinz missed quarterly sales estimates on Wednesday as inflation-hit customers bought fewer packaged meals and condiments, discouraged by higher product prices. Shares of the Jell-O maker were down 0.5% in premarket trade after it also maintained its annual sales and profit forecasts. U.S. packaged food makers have kept their product prices higher for…
