NEW YORK (Reuters) – The negative impact of currency fluctuations on North American companies’ results rose sharply again in the third quarter of 2022, data from treasury and financial management firm Kyriba showed on Tuesday. The collective exchange-rate hit, including on companies in the United States, Canada and Mexico, was $43.15 billion in the third…
By Maggie Fick and Natalie Grover (Reuters) – GSK on Wednesday beat fourth-quarter profit and sales forecasts helped by sales of its blockbuster shingles vaccine Shingrix and unveiled an upbeat forecast for 2023. The positive outlook and strong Q4 results are the latest endorsement of chief executive Emma Walmsey’s spin-off last year of consumer business…
SHANGHAI (Reuters) – Chinese investors are starting to shift money from bonds to stocks, betting on a robust recovery for riskier assets as the government’s policy pivots to boost growth, the latest report on mutual funds showed. Foreign money has also been flowing into China equities, sending the benchmark index up 7.4% in January, although…
ZURICH (Reuters) – ABB has raised 325 million Swiss francs ($355 million) from selling a further part of its electric vehicle (EV) charging business to four minority investors, the Swiss engineering and technology company said on Wednesday. The investors will take a combined 12% stake in the E-Mobility business in the final round of private…
By Ludwig Burger BASEL (Reuters) -Swiss drugmaker Novartis on Wednesday predicted that core operating income would grow in a “mid single digit” percentage range in 2023, following stagnation last year. Full-year core operating income was broadly flat at $16.7 billion, it said in a statement, coming in slightly below market expectations of $16.8 billion. Adjusted…
BERLIN (Reuters) – The United States remained the most important destination for German exports in 2022 for the eighth consecutive year. Exports of goods reached a record 156 billion euros ($169.31 billion) last year, according to Reuters calculations based on preliminary data from the German statistics office. German exports to the United States in 2022…
BENGALURU (Reuters) – Most Adani Group stocks dropped on Wednesday, extending losses after a report from short-seller Hindenburg criticised the conglomerate and despite the group completing a $2.5 billion share sale a day earlier. Hindenburg Research’s report last week alleged improper use of offshore tax havens and flagged concerns about high debt. The group, led…
By Stephen Nellis (Reuters) – Intel Corp said on Tuesday that it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn. The reductions will range from 5% of base pay for…
By Alexandra Alper and David Shepardson WASHINGTON (Reuters) – An American official on Tuesday made the most direct comments by a U.S. authority to date acknowledging the existence of a deal with Japan and the Netherlands for those countries to impose new restrictions on exports of chipmaking tools to China. “We can’t talk about the…
(Corrects spelling of Elliott in headline and 2nd paragraph) By Chibuike Oguh and Tiyashi Datta NEW YORK (Reuters) -Memory chip maker Western Digital Corp said on Tuesday it will receive $900 million through a convertible preferred stock deal from private equity firm Apollo Global Management Inc and hedge fund Elliott Management Corp. Western Digital said…
