By Jonathan Stempel (Reuters) – A federal judge in Chicago has dismissed a proposed class action lawsuit accusing Walmart Inc of deceiving shoppers by selling Fudge Mint cookies that lacked fudge and mint. Eugene DeMaso, of La Salle, Illinois, said packaging for the cookies sold under Walmart’s Great Value label misled reasonable consumers because the…
(Reuters) – Uber Technologies Inc said on Wednesday it would focus on delivering profits this year, after rounding off 2022 with blowout earnings as a surge in demand for airport and office rides helped the company rebound from pandemic lows. Uber’s shares surged nearly 8% in premarket trading after the company reported a surprise fourth-quarter…
JAKARTA (Reuters) – Two lessors have filed applications in a Jakarta court in a bid to cancel flag carrier Garuda Indonesia’s restructuring deal, a court website showed. Garuda reached an agreement with its creditors, which include lessors and Islamic bond investors, last June to restructure more than $9 billion of debt. The lessors, which filed…
By Alexander Villegas and Adam Jourdan ESPINAR, Peru (Reuters) – Peru’s biggest copper mines have been able to maintain production despite road blockades, attacks and protests that have roiled the Andean nation for over two months and led to warnings of production halts, an analysis showed on Wednesday. The analysis of power usage data by…
By Mathieu Rosemain and Matthieu Protard PARIS (Reuters) – Societe Generale, France’s third biggest bank, favoured financial prudence over quick returns to shareholders as it prepared for the arrival of a new CEO in May tasked with reviving its valuation in an uncertain economic climate. SocGen said on Wednesday it hiked provisions for bad loans…
FRANKFURT (Reuters) -European Central Bank supervisors will zero in on bad loans this year after finding that some euro zone banks had set too little money aside for them or were slow in recognising the problem, the ECB said on Wednesday. Presenting its annual review of the sector, the ECB said euro zone banks generally…
JOHANNESBURG (Reuters) – Supermarket group Pick n Pay said on Wednesday its four-month sales grew by 6.4%, but its like-for-like sales growth in South Africa was softer, impacted by store revamps and unprecedented power cuts in the last quarter of 2022. At market open, shares of Pick n Pay, South Africa’s second biggest supermarket chain,…
(Reuters) – Turkey’s Borsa Istanbul issued a market-wide circuit breaker after the benchmark index dropped 5% within minutes of opening on Wednesday, continuing losses after a devastating earthquake in the south of the country on Monday. The benchmark BIST-100 index opened down 0.52% and slid rapidly to be 5% lower, issuing the market-wide circuit breaker…
By Nerijus Adomaitis OSLO (Reuters) -Equinor on Wednesday posted a record $74.9 billion adjusted operating profit for 2022, more than double its previous record thanks to soaring gas prices and with fourth-quarter results beating analysts’ expectations. The oil and gas producer’s adjusted earnings before tax and interest for October-December rose to $15.1 billion from $15…
By Mathieu Rosemain and Matthieu Protard PARIS (Reuters) -Societe Generale, France’s third biggest bank, posted a higher-than-expected profit in the fourth quarter, driven by a strong performance of its corporate and investment banking division as it set aside more money for failing loans. The reported group net income for the three months ending in December…
