By Praveen Paramasivam and Uday Sampath Kumar (Reuters) -Mattel Inc on Wednesday won the rights to produce dolls based on Disney royalty like Elsa and Jasmine, snatching back a highly lucrative license from archrival Hasbro Inc. The reunion sent Mattel’s shares surging 11% and is part of Chief Executive Ynon Kreiz’s plan to turn the…
(Reuters) – U.S. auto retail sales are expected to dip in January as reduced manufacturing due to the Omicron variant, supply chain constraints and global inflation caused prices to soar amid high demand, consultants J.D. Power and LMC Automotive said. Retail sales of new vehicles could fall 8.3% to 828,900 units from a year earlier,…
By Sujata Rao and Lewis Krauskopf LONDON/NEW YORK (Reuters) – U.S. stock markets, after enjoying their best three-year run in more than two decades, may soon have to cede the top spot. With the Fed preparing to raise interest rates https://www.reuters.com/business/finance/inflation-fighting-fed-likely-flag-march-interest-rate-hike-2022-01-26 for the first time in almost four years, capital is starting to fan out…
By Lucia Mutikani WASHINGTON (Reuters) -The U.S. trade deficit in goods widened to a record high in December amid a continued rise in imports, suggesting that trade likely remained a drag on economic growth in the fourth quarter. But the report from the Commerce Department on Wednesday also showed an acceleration in the pace of…
(Reuters) -Abbott Laboratories on Wednesday beat quarterly profit and sales estimates, aided by robust sales of COVID-19 test kits due to the spread of the Omicron variant and strong demand for its diagnostics products. Abbott said it expects $2.5 billion in sales of COVID-19 test kits in the early part of this year. The company…
(Reuters) -Mattel Inc on Wednesday snatched back rights to produce toys based on Walt Disney Co’s “Frozen” franchise and Princess lineup, more than seven years after losing it to rival Hasbro Inc. The reunion will bring popular Disney characters, including “Cinderella” and “Snow White,” to Mattel, which will also make toys based on characters in…
(Reuters) -Abbott Laboratories’ quarterly profit beat analysts’ estimate, aided by robust sales of COVID-19 test kits due to the spread of the Omicron variant and strong demand for its diagnostics products. Abbott said it expects $2.5 billion from COVID-19 test kits in the early part of this year. The company will update its test kit…
(Reuters) -Abbott Laboratories on Wednesday reported a 7.2% rise in quarterly sales on strong demand for diagnostics products, including its COVID-19 tests, led by a sharp surge in cases due to the Omicron variant. The company’s net earnings fell to $1.99 billion, or $1.11 per share, in the fourth quarter ended Dec. 31 from $2.16…
(Reuters) -Microsoft will begin offering more information to customers about how it automatically renews Xbox online gaming subscriptions in Britain, the UK’s competition watchdog said on Wednesday. The Competition and Markets Authority (CMA) said it had secured undertakings from the U.S. tech giant to inform customers upfront about auto-renewals for Xbox Live Gold and Game…
BEIJING (Reuters) -Apple Inc achieved its highest-ever market share in China in the fourth quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday. The milestone coincided with the release of the iPhone 13, and amid otherwise stagnant demand for handsets as chief…
