(Reuters) -Barry Callebaut, the world’s biggest chocolate maker, on Thursday reported lower nine-month sales volumes than a year ago as customer demand dropped in an inflationary environment. Barry Callebaut’s volumes have been hit by growing inflationary pressures, with cocoa trading at around a 46-year high, which dampens demand for chocolate around the world. “Our volume…
By Naomi Rovnick, Marc Jones and Alun John LONDON (Reuters) – It was not meant to be this way. The big trades championed at the start of 2023 look redundant thanks to AI mania in stock markets, and long-predicted recessions that were supposed to fire up fixed income have proved elusive. Slowing growth was meant…
By Lewis Krauskopf NEW YORK (Reuters) -As U.S. inflation cools and growth remains resilient, bullish investors are counting on the upcoming earnings season to provide more fuel for a rally that has taken stocks to their highest levels in months. Wednesday’s closely-watched inflation report showed consumer prices increasing in June at their slowest annual pace…
By Jihoon Lee and Joyce Lee SEOUL (Reuters) -South Korea’s central bank held interest rates steady for a fourth straight meeting on Thursday, saying it will maintain a tight stance on monetary policy amid still high prices despite heightened financial uncertainty. The Bank of Korea (BOK) said its seven-member monetary policy board voted to keep…
A look at the day ahead in European and global markets from Vidya Ranganathan A big bunch of numbers is due out of Britain today – GDP, industrial output, construction – and will call into question the Bank of England’s insistence that both the economy and its banks are coping okay with its fast and…
By Laura Matthews NEW YORK (Reuters) – Large companies are spreading out their counterparty risk and increasing screening of their banking partners in response to the recent banking crisis that has been a “wake-up call”, according to an industry survey to be released on Thursday. Worried that possible future bank failures could leave them unable…
By Sinead Cruise, Lawrence White and Stefania Spezzati LONDON (Reuters) – Barclays is betting it can revive its wilting share price by upping investment in a crop of its smaller businesses including U.S. credit cards, sources familiar with the matter said. But some of its top shareholders would prefer the quicker fix of a buyback….
By David Shepardson (Reuters) -Kia said on Wednesday it will invest more than $200 million in its assembly plant in the U.S. state of Georgia to begin production of its electric EV9 SUV next year. The Korean automaker said the company will add about 200 jobs to build the three-row SUV alongside four other models…
By Diane Bartz WASHINGTON (Reuters) -The U.S. Federal Trade Commission (FTC) said on Wednesday it was appealing a federal judge’s ruling that Microsoft could go forward with its $69 billion purchase of “Call of Duty” maker Activision Blizzard. Microsoft’s victory in court on Tuesday, and a subsequent climbdown by Britain’s competition authority, brought the tech…
(This story has been refiled to remove the extraneous word ‘valuation’ in paragraph 1) By Abigail Summerville and Krystal Hu (Reuters) – Investment firm Wellington Management is in talks to lead a new funding round for Skims, which could value the underwear clothing company owned by Kim Kardashian at about $4 billion, according to people…
