(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…
(Reuters) – U.S. inflation remains too high, although recent readings showing price pressures have eased notably were welcome, Richmond Federal Reserve President Thomas Barkin said on Thursday. “Certainly, last month’s inflation read was a good one and I hope it is a sign,” Barkin said in remarks prepared for a speech in Virginia. Barkin did…
(Reuters) – Engine maker Cummins reported a second-quarter profit on Thursday that missed analysts’ estimates, hurt by high manufacturing costs. The company’s shares fell 3.8% to $252.20 in premarket trading. Increasing production costs have battered the auto industry’s earnings over the months. Despite taking pricing actions, automakers and parts suppliers have struggled to cover costs…
AMSTERDAM (Reuters) -The car carrier that caught fire last week off the coast of the Netherlands has arrived at the northern Dutch port of Eemshaven for salvage, officials there said on Thursday. One crew member died when the blaze broke out on the Fremantle Highway on July 26 as it was travelling from Germany to…
ZURICH (Reuters) – Switzerland’s financial capital is bracing itself for the biggest wave of job losses in over a decade following Credit Suisse’s collapse earlier this year. Since the government engineered a rescue of the 167-year-old bank in March by merging it with rival UBS, tens of thousands of jobs have been expected to go….
By Nyasha Chingono HARARE (Reuters) – When Zimbabwe’s President Emmerson Mnangagwa came to power nearly six years ago after the military toppled long-time ruler Robert Mugabe, he promised to tackle the country’s economic woes “head on”. But for many, like 51-year-old widow Regina Ruona, the promised economic revival remains elusive. After braving a chilly morning…
(Reuters) -Regeneron Pharmaceuticals expects a U.S. decision on a higher-dose version of its blockbuster eye disease drug Eylea in the third quarter, much earlier than market expectations, sending its shares 5% higher in premarket trading on Thursday. The U.S. Food and Drug Administration declined to approve a higher-dose version of Eylea in June following an…
