TOKYO (Reuters) -Japan’s Honda Motor reported a 78% rise in quarterly profit on Wednesday, boosted by increased sales, especially in the North American market, and a weaker yen. Japan’s second-biggest automaker by sales said its operating profit totalled 394.4 billion yen ($2.76 billion) in the three months through June, handily beating the average 324.74 billion…
By Joanna Plucinska, Rajesh Kumar Singh, Doyinsola Oladipo and Priyamvada C LONDON/CHICAGO/NEW YORK (Reuters) -The post-pandemic travel boom and the high ticket prices that come with it show no signs of slowing well into next year, despite economic uncertainty and dwindling household savings. While questions linger about how much longer consumers will continue to indulge,…
MEXICO CITY (Reuters) -Mexico saw its annual inflation rate slow for the sixth consecutive month in July to 4.79%, data from statistics agency INEGI showed on Wednesday, continuing a downward trend spurred by a long cycle of interest rate hikes. Headline inflation was in line with a market forecast of 4.79%, a more than a…
By Sarupya Ganguly and Indradip Ghosh BENGALURU (Reuters) – U.S. Treasury yields will fall in coming months despite clear signs the Federal Reserve is reluctant to consider rate cuts any time soon, according to bond strategists polled by Reuters who said the 10-year yield would not revisit its cycle peak. Although yields have mostly defied…
By Angelo Amante and Valentina Za ROME (Reuters) -Prime Minister Giorgia Meloni on Wednesday defended the decision to impose a surprise windfall tax on profits at Italy’s banks after the government watered down the plan following a market rout. The economy ministry clarified late on Tuesday that the 40% windfall tax, a one-off measure which…
By Ben Blanchard and Friederike Heine TAIPEI/BERLIN (Reuters) -Taiwan said on Wednesday chipmaker TSMC’s 3.5 billion euro ($3.83 billion) investment in Germany would drive deeper engagement between the island and Europe, while Berlin said it was a positive sign for bilateral ties. For Taiwan, under increasing pressure from Beijing to accept China’s sovereignty claims over…
KYIV (Reuters) – Ukraine’s annual consumer inflation slowed to 11.3% in July compared with the same month a year ago, the statistics service said on Wednesday. It said in a statement that consumer prices fell by 0.6% in July compared with June mainly thanks to a seasonal drop in vegetable prices. It said vegetable prices…
By Jody Godoy (Reuters) – A conservative legal organization sued Target on Tuesday on behalf of an investor, saying the retailer misrepresented the adequacy of its risk monitoring when customer backlash over LGBTQ-themed merchandise caught it by surprise. America First Legal filed the lawsuit in Florida federal court on behalf of investor Brian Craig against…
(Reuters) -Used-car retailer Carvana expects its third-quarter adjusted core profit to be above $75 mln from its prior forecast of “positive adjusted EBITDA”, sending its shares up about 4% in morning trade on Wednesday. Carvana, in an attempt to strengthen its balance sheet and attain positive cash flow, has been trimming inventory and slashing advertising…
By Akash Sriram (Reuters) -Lyft’s shares fell more than 7% on Wednesday as investors feared the ride-hailing platform’s focus on competitive pricing to gain market share would muddy its path to profitability. The company and its more dominant rival, Uber, have been locked in a fierce price war as they stage a post-pandemic recovery. Lyft…
