By Karl Plume CHICAGO (Reuters) -Archer-Daniels-Midland Co on Thursday said robust soy crushing margins and hefty global demand for crops propelled the U.S. grains merchant to a record fourth-quarter profit and would keep driving strong results in 2023. ADM reported a 46% operating profit jump in its core Ag Services and Oilseeds unit in the…
(Refiles to add dropped word in paragraph 6) (Reuters) – Shares of BuzzFeed Inc jumped over 50% in early trading after a report said Meta Platforms Inc was paying the digital media firm millions of dollars to bring more creators to Facebook, Instagram. About 30 million shares changed hands by 9:50 a.m. ET, setting the…
By Aishwarya Nair and Abhijith Ganapavaram (Reuters) -U.S. carriers on Thursday gave strong earnings forecasts for the year despite economic worries after buoyant demand for air travel during the crucial holiday season helped lift quarterly results. Major airlines are trying to cash in on a travel boom since the pandemic eased its grip on the…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed considerably towards the end of the year, with higher interest rates eroding demand. Gross domestic product increased at a 2.9% annualized rate last quarter,…
By Makiko Yamazaki and Kevin Krolicki TOKYO (Reuters) – Toyota’s chief executive will step down as head of the company his grandfather founded, the automaker said on Thursday, handing over to the leader of its Lexus luxury brand as the Japanese giant struggles to meet the shift to electric vehicles. The 53-year-old chief branding officer…
By Norihiko Shirouzu and Gilles Guillaume TOKYO/PARIS (Reuters) – French car maker Renault and its Japanese partner Nissan Motor aim to formally unveil a deal to reshape their alliance in London on Feb. 6, two sources close to the matter told Reuters on Thursday. Leaders of the two companies were meeting via video link for…
By Takaya Yamaguchi TOKYO (Reuters) -Japan’s government debt will top 1,100 trillion yen ($8.47 trillion) for the first time at the fiscal year end in March 2027 as the country remains heavily dependent on borrowing, a draft estimate seen by Reuters on Thursday showed. Even assuming a rosy scenario in which the world’s third-largest economy…
By Huw Jones LONDON (Reuters) – Stocks firmed on Thursday as investors bet that central banks meeting next week will signal a slowdown or even a pause in interest rate hikes for later in the year to make recession less likely and ease pressure on corporate earnings. Oil prices were steady after U.S. crude stocks…
TOKYO (Reuters) – Toyota Motor Corp said on Thursday that Akio Toyoda will step down as president and chief executive to become chairman from April 1, and hand over the helm of Japan’s biggest automaker to its top branding officer, Koji Sato. Sato will become the new CEO while the current chairman, Takeshi Uchiyamada, will…
TOKYO (Reuters) – Toyota Motor Corp said on Thursday its president and chief executive officer Akio Toyoda will become chairman effective April 1. Kouji Sato, chief branding officer, will become the new CEO, Toyota said. Representative director Takeshi Uchiyamada will drop his chairman title. The Japanese automaker will hold a news conference at 4 p.m….
