By Swati Verma and Noah Browning (Reuters) – The European Union’s ban on imports of Russian refined oil products, including diesel and jet fuel, will disrupt global flows once it takes effect on Sunday and could hurt Moscow more than an embargo on crude oil. Although Western sanctions could force Russia to cut crude production…
By Bianca Flowers and Aishwarya Nair (Reuters) -Harley-Davidson Inc reported higher-than-expected quarterly profit on Thursday as a boost in bike shipments, coupled with strong pricing, allowed the motorcycle maker to navigate cost inflation and deliver on pent-up demand. Shares in the U.S. company rose 8.3%. The manufacturer has either beaten or met Wall Street earnings…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) – Shell delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after Russia’s invasion of Ukraine allowed it to hand shareholders unprecedented returns. The British company’s record earnings, which more than…
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week as the labor market remained resilient despite higher borrowing costs and mounting fears of a recession. Initial claims for state unemployment benefits dropped 3,000 to a seasonally adjusted 183,000 for the week ended Jan. 28, the Labor Department…
By William Schomberg and David Milliken LONDON (Reuters) – The Bank of England raised interest rates for the 10th time in a row on Thursday but dropped its pledge to keep increasing them “forcefully” if needed and said inflation had probably peaked. Softening their forecasts of recession this year, the BoE’s nine interest rate-setters voted…
(Reuters) – Estee Lauder Cos Inc raised its full-year sales forecast on Thursday, on resilient demand for its skincare and fragrances and an expected recovery in major market China that recently eased its COVID curbs. The company expects 2023 net sales to fall between 5% and 7%, compared with the prior forecast of a decrease…
TOKYO (Reuters) -The operator of Japan’s largest airline, ANA Holdings Inc, raised its full-year profit forecast as travel demand recovers following the easing of COVID-19 border curbs. ANA now expects operating profit to reach 95 billion yen ($739 million) in the year through March, up from a previous estimate of 65 billion yen. The consensus…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) -Deutsche Bank reported a surge in fourth-quarter earnings on Thursday, exceeding expectations and contributing to a third consecutive year of profit, helped by higher interest rates and buoyant trading. The period marked an end to a 9 billion euro ($9.9 billion)four-year turnaround plan put in place by…
NEW DELHI (Reuters) – India’s Adani group shares sank on Thursday after market turmoil forced the conglomerate to axe a crucial $2.5 billion stock offer, deepening its market losses to more than $100 billion and sparking worries about the potential systemic impact. The withdrawal of Adani Enterprises’ share sale marked a dramatic setback for Gautam…
By Davide Barbuscia and Lewis Krauskopf (Reuters) – A more dovish-than-expected message from Federal Reserve Chairman Jerome Powell stands to further boost hopes of slowing rate hikes and a so-called economic soft landing that have fueled a powerful rebound in U.S. stocks. For weeks, hopes that easing inflation and cooling growth will allow the Fed…
