By Aditya Soni (Reuters) – Qualcomm tumbled nearly 10% on Thursday after a gloomy forecast signalled more pain for the largest maker of smartphone chips from the ongoing slump in the consumer electronics market. The drop was set to erase about $14 billion from Qualcomm’s market value. The stock has risen 19% this year, but…
By Simon Jessop and Huw Jones LONDON (Reuters) – Is Ford doing a better job of cutting emissions than rival Toyota? Is BP greener than Shell? For investors looking to weed out climate laggards from portfolios, these are vital questions but existing guidelines on emissions reporting and new rules due to come in for the…
(Reuters) -E-cigarette maker Juul Labs is seeking to raise about $1 billion in a fundraising effort, Bloomberg News reported on Wednesday, citing people familiar with the matter. The company said last July that it was in the early stages of exploring options including financing alternatives, to protect its business and help refinance an existing loan,…
LONDON (Reuters) -Adidas is still in the process of getting rid of around 100 stores as the German sportswear firm works towards a full wind-down of its business in Russia, CEO Bjorn Gulden said on Thursday. “We have about 100 stores that are not operational, and of course they have been offered on the market,”…
LONDON (Reuters) – The Bank of England said on Thursday that businesses expected slower increases in the prices they charge and the wages they pay to staff, citing the findings of a monthly survey. Output price inflation expectations for the year ahead slowed to 5.2% in the three months to July, down by 0.1 percentage…
WASHINGTON (Reuters) – U.S. worker productivity rebounded sharply in the second quarter, helping to curb growth in labor costs and offering another boost to the improving inflation outlook. Nonfarm productivity, which measures hourly output per worker, increased at a 3.7% annualized rate last quarter, the Labor Department said on Thursday. Data for the first quarter…
(Reuters) -American Eagle Outfitters said on Thursday it expects revenue and operating income for the second quarter to be above prior forecast, sending its shares up 6% in premarket trade. The teen apparel maker now expects revenue for the quarter to be flat to a year earlier, compared with its prior forecast of down low-single…
By Victoria Waldersee BERLIN (Reuters) -BMW said it was raising investment in electrification faster than planned but that it was too soon to set an end date for combustion engine car production, with sales still strong in major growth markets like China and the U.S. The carmaker is close to hitting its target of 15%…
BEIJING (Reuters) – China on Thursday said it firmly opposes any form of official exchange between the United States and Taiwan, and resolutely opposes “sneaky visits” by Taiwan “independence separatists”. China urges the U.S. to stop official U.S.-Taiwan contacts and to stop escalating U.S.-Taiwan “substantive” relations, the foreign ministry said in a statement. Taiwan Vice…
(Reuters) – USA Today-publisher Gannett Co boosted its annual earnings expectations on Thursday, as advertising demand recovers from post-pandemic lows. Advertising budgets were hit earlier this year by an uncertain economy as rapid interest rate hikes by the U.S. Federal Reserve to clamp inflation fueled fears of a recession. But cooling inflation has put ad…
