By Navya Mittal (Reuters) – Australian contractor Downer EDI said on Thursday it expected to record a statutory net loss after tax of about A$386 million ($252.52 million) for fiscal 2023 on impairments against its facilities and utilities units. Shares of Downer EDI fell nearly 6% to A$4.17 in their biggest intraday loss since Feb….
DUBLIN (Reuters) – Irish service sector growth remained robust in July amid a strengthening in business sentiment and a slight easing in still high input and output cost pressures, a survey showed on Thursday. The AIB S&P Global Purchasing Managers’ Index (PMI) for services was almost unchanged at 56.7 versus 56.8 in June. The index…
By Susan Mathew and Saeed Azhar (Reuters) -Fitch’s downgrade of the U.S. credit rating is likely to exacerbate unease about the country’s debt position, political polarization and the global standing of the U.S. dollar, investors and analysts said. Wall Street’s three major indexes ended lower on Wednesday, a day after Fitch unexpectedly stripped the U.S….
TOKYO (Reuters) – Japan’s service sector activity expanded at a slightly slower pace in July as new business growth eased and cost pressures remained high, but the overall performance of the sector stayed solid amid the fading impact of COVID-19, a private-sector survey showed on Thursday. The final au Jibun Bank Japan Services purchasing managers’…
By Arunima Kumar (Reuters) – Phillips 66 reported a 46% fall in second-quarter profit on Wednesday, the latest U.S. refiner to signal the hit from a decline in margins from last year’s sky-high levels when Russia’s invasion of Ukraine squeezed fuel supplies. The company’s shares fell 2.7% to $109.04 in afternoon trade. Realized margins fell…
By Indradip Ghosh BENGALURU (Reuters) – The U.S. dollar will hold its ground against most major currencies over the coming three months as a resilient domestic economy bolsters expectations interest rates will remain higher for longer, according to FX strategists polled by Reuters. Despite net short dollar positions hitting their highest since March 2021, the…
BOGOTA (Reuters) -The technical team of Colombia’s central bank on Wednesday lowered its outlook for inflation in 2023 to 9%, from 9.5% previously, and cut its forecast growth for Latin America’s fourth-largest economy to 0.9%. The technical team previously forecast Colombia’s economic growth at 1% for this year. The revisions in the team’s quarterly monetary…
By Deborah Mary Sophia (Reuters) -Yum Brands on Wednesday beat estimates for quarterly comparable sales and profit as strong demand for cheaper meals and promotional offers at its KFC restaurants countered lackluster traffic at its Taco Bell and Pizza Hut outlets. Quarterly comparable sales at KFC jumped 13% and topped estimates for an 8.29% growth,…
By Peter Frontini SAO PAULO (Reuters) -Brazil’s central bank kicked off its rate-cutting cycle more aggressively than expected on Wednesday, reducing its benchmark interest rate by 50 basis points and signaling more of the same in the months ahead due to an improving inflation outlook. The bank’s rate-setting committee Copom cut its Selic policy rate…
By David Shepardson (Reuters) – A General Motors LG Energy Solution battery joint venture on Wednesday said it does not see any path for workers at its Ohio plant to be covered under a national labor agreement, rejecting a push by Democratic U.S. senators. Ultium Cells LLC said on Wednesday it “does not see a…
