By Hilary Russ and Praveen Paramasivam (Reuters) -Starbucks Corp will raise menu prices in 2022 and reduce some spending to offset soaring costs for labor and goods, as rising COVID-19 cases prompted the coffee chain on Tuesday to lower estimates for profits this year. The company missed estimates for quarterly profits and comparable sales as…
By Wayne Cole SYDNEY (Reuters) – The dollar was carrying a couple of bruises on Wednesday as Federal Reserve officials played down the chance of a half point rate hike in March and a rally in global equity markets tarnished some of its safe haven allure. Stellar results from Alphabet after the bell saw that…
(Corrects quarter to fourth from third in paragraph 2) (Reuters) -Match Group Inc cut its full-year revenue forecast on Tuesday, as the Tinder owner expects the impact from the Omicron COVID-19 variant to persist through 2022. The company, which also missed fourth-quarter revenue estimates, forecast 2022 total revenue growth between 15% and 20%. It had…
By Praveen Paramasivam (Reuters) – Workers at nearly 80 King Soopers, owned by Kroger Co, approved a new three-year contract, the Colorado-based chain said on Tuesday, ending a stalemate that had caused a 10-day strike at the start of the year. King Soopers will invest $170 million in wage increases through the life of the…
By Paresh Dave and Nivedita Balu (Reuters) -Alphabet Inc and its Google unit on Tuesday reported higher than expected fourth-quarter sales as the search giant’s internet advertising and cloud computing businesses benefited over the holiday season from the growing surge in online shopping. Alphabet’s overall quarterly sales jumped to $75.3 billion, above the average estimate…
By Ann Saphir (Reuters) – St. Louis Federal Reserve President James Bullard on Tuesday said he favors lifting rates at the U.S. central bank’s meeting in March and likely again in May. But he pushed back against the idea of kicking off the tightening cycle with a half-percentage point hike, and said that how high…
By Erwin Seba HOUSTON (Reuters) – Union and energy company negotiators met on Tuesday to settle terms on a new labor contract covering 30,000 U.S. workers at oil refineries, chemical plants and pipelines. Marathon Petroleum and the United Steelworkers union (USW) on Monday averted a potential strike by agreeing to a 24-hour rolling extension of…
(Reuters) – St. Louis Federal Reserve President James Bullard on Tuesday said he favors lifting rates at the U.S. central bank’s meeting in March and likely again in May, but he pushed back against the idea of kicking off the coming tightening cycle with a half-percentage point hike. “I don’t think a 50-basis point hike…
(Reuters) -Ford Motor Co is planning new investment of up to $20 billion in building its electric vehicles, Bloomberg News reported on Tuesday. The additional investment will be spread out over the next five to ten years and will include converting its present factories around the world to electric-vehicle production, the report https://bit.ly/3L4LFxS said, citing…
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices. The company slashed spending after fuel demand cratered two years ago. Since then, earnings have topped pre-pandemic levels, helped by the…
