By Christoph Steitz and Tom Käckenhoff FRANKFURT (Reuters) – Thyssenkrupp’s outgoing Chief Executive Martina Merz sought to assuage investor fears that her exit would slow down the conglomerate’s turnaround efforts, as the German company swung to a net loss in the second-quarter. The submarines-to-car parts group has been criticised for not making enough progress with…
By Andrea Shalal NIIGATA, Japan (Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said many members of the Group of Seven advanced economies shared U.S. concerns about China’s use of “economic coercion” against other countries, and were considering how to counter such behavior. Yellen told a press conference that Washington had also long considered…
By Sarah Young and Paul Sandle LONDON (Reuters) -British engine maker Rolls-Royce said the new CEO’s plan to boost the company’s profitability was moving “at pace”, and it was on track to meet 2023 forecasts, buoyed by cost savings and the ongoing travel recovery. But shares in the company, which has been one of the…
LONDON (Reuters) – Martin Sorrell’s S4 Capital said artificial intelligence (AI) was helping the advertising group to become more efficient and navigate pressure from clients seeking to cut costs. S4, founded by the ad boss after he left WPP, reiterated its full-year net revenue outlook after the first quarter, saying growth was driven by U.S….
By Harry Robertson LONDON (Reuters) – Italian bonds face a rockier road in the coming months after a period of unusual calm, starting with credit ratings decisions over the next two weeks. Ratings agency Fitch will pronounce on Italy’s creditworthiness on Friday. Moody’s will follow suit on May 19, and there is a small risk…
By Ludwig Burger FRANKFURT (Reuters) – Germany’s Merck KGaA on Thursday warned that adjusted operating earnings could decline by as much as 10% this year as the outlook for its specialty chemicals business darkened, offsetting an upswing in drug prescriptions. The company said it was expecting between 6.1 billion euros ($6.71 billion) and 6.7 billion…
BERLIN (Reuters) – Deutsche Telekom slightly raised its full-year operating profit target on Thursday after reporting a small bump in first-quarter revenue and profit that was in line with expectations. The group now expects adjusted operating profit (EBITDA AL) to now reach 40.9 billion euros ($45.02 billion) in 2023, from previous guidance of 40.8 billion…
PARIS/BEIJING (Reuters) – French Foreign Minister Catherine Colonna and her Chinese counterpart Qin Gang agreed on the need to “develop an economic relationship that is both stronger and more balanced”, the foreign ministry in Paris said after they met on Wednesday. The meeting followed French President Emmanuel Macron’s visit to China in April and came…
By Jeffrey Dastin MOUNTAIN VIEW, California (Reuters) – The financial report you read, the apparel marketing you see and the chat assistant you engage may soon reflect a common origin: artificial intelligence from Google. The cloud division inside Alphabet Inc is lining up customers to put its newest technology to the test, so-called generative AI…
(Reuters) – China has dramatically increased use of the yuan to buy Russian commodities over the past year, with nearly all of its purchases of oil, coal and some metals now settled in the Chinese currency instead of dollars, people familiar with the matter said. Chinese imports of major commodities from its northern neighbour totalled…
