SAO PAULO (Reuters) -German carmaker Volkswagen said on Thursday it will invest an additional 9 billion reais ($1.83 billion) in its Brazilian business over the next five years and launch 16 new models, including hybrid and electric vehicles. The new investments would more than double Volkswagen’s 2022-2028 Brazil investment plan to 16 billion reais and…
By Leroy Leo and Patrick Wingrove (Reuters) -AbbVie on Friday raised its 2027 forecast for sales of its immunology drugs Skyrizi and Rinvoq to $27 billion, up $6 billion from its previous prediction. The Chicago-based drugmaker has been counting on revenues from its newer immunology medicines to help make up for declining sales of blockbuster…
By Samrhitha A, Aishwarya Venugopal and Chuck Mikolajczak (Reuters) -Meta Platforms added $196 billion in stock market value on Friday, marking the biggest one-day gain by any company in Wall Street history after the Facebook parent declared its first dividend and posted robust results. Meta’s stock surged 20.3% for the session, also recording its biggest…
(Reuters) -Amazon.com founder Jeff Bezos will sell up to 50 million shares in the online retail and cloud services firm over the next one year, according to a company filing on Friday. The securities are worth $8.6 billion at the current price of $171.8 share. The sale plan, which is subject to certain conditions, was…
By Ann Saphir and Howard Schneider (Reuters) -Federal Reserve policymakers seeking greater confidence that inflation is on track to their 2% goal may have gotten the opposite on Friday when data showed U.S. job growth surged last month at well above the pre-pandemic pace, and wage growth accelerated. The numbers – 353,000 new jobs added…
By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production. Profits from oil majors have been down in 2023 by about a third from record levels in 2022, pressured as oil and gas prices retreated after spiking when…
By Akash Sriram and Aishwarya Venugopal (Reuters) -Amazon.com shares surged 7% on Friday after the e-commerce heavyweight reported higher-than-expected holiday quarter sales and its lucrative cloud business signaled early gains from AI-powered features. The company joined Microsoft and other tech firms in starting to see results benefiting from their heavy AI investments, while also outlining…
By Yelin Mo and Brenda Goh BEIJING (Reuters) -Apple’s weak China sales performance may have shocked investors, but customers and analysts have been noting the rising challenges the company faces in its third-largest market. Intensifying competition from domestic rivals, coupled with longer upgrade cycles as consumers spend more cautiously amid an economic slowdown, have stunted…
By Akash Sriram and Greg Bensinger (Reuters) -Amazon.com beat fourth-quarter revenue expectations on Thursday as new generative AI features in its cloud and ecommerce businesses spurred robust growth during the critical holiday period. Investors cheered the results, sending Amazon shares up as much as 8% in trading after the market close. Amazon’s roster of high-spending…
