(Reuters) – Michael Kors-owner Capri Holdings Ltd lowered its annual profit forecast on Wednesday, blaming a hit from a stronger dollar and a slow demand recovery in the key Chinese market due to persistent COVID-19 curbs. The company forecast fiscal 2023 revenue of $5.7 billion, compared with its prior estimate of about $5.85 billion. (Reporting…
FRANKFURT (Reuters) – Inflation expectations among euro zone consumers continued to rise in September, even as economic growth and income forecasts declined markedly, a new European Central Bank survey showed on Wednesday. Inflation has been hitting new records month after month, raising fears that wages, still growing relatively slowly, will eventually follow, setting off a…
By Simon Jessop and Kate Abnett SHARM EL-SHEIKH, Egypt (Reuters) – Finance took centre stage at the COP27 climate talks on Wednesday, with U.N. experts publishing a list of projects worth $120 billion that investors could back to help poorer countries cut emissions and adapt to the impacts of global warming. A $3 billion water…
By Emma-Victoria Farr, Joice Alves and Shadia Nasralla LONDON (Reuters) -Ithaca Energy shares dipped on their London debut on Wednesday after the North Sea oil and gas producer defied volatile markets to deliver Britain’s largest initial public offering (IPO) this year, and Europe’s fifth biggest. The shares opened 2% below the 250 pence per share…
By Dina Kartit (Reuters) -Revenues at France’s Veolia jumped 49.1% in the nine months to the end of September, the company said on Wednesday, mostly driven by its takeover of rival Suez earlier this year. The waste and water company’s revenues for the period climbed to 30.71 billion euros ($30.92 billion), while its earnings before…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares inched higher on Wednesday as investors braced for U.S. inflation data due this week and awaited the results of the midterm elections that could signify a power shift in Washington. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.33% higher, while Japan’s Nikkei slipped 0.16% and…
By Tom Westbrook SINGAPORE (Reuters) – The dollar steadied on Wednesday as traders waited on results from U.S. elections and on inflation data that could disappoint hopes for the interest rate outlook, while cryptocurrencies were on edge as a major exchange faces a bailout. The greenback has been under downward pressure from bets on the…
By Jamie Freed (Reuters) -Hong Kong’s Cathay Pacific Airways Ltd said on Wednesday that long-serving executive Ronald Lam would take over as chief executive from Jan. 1, with current boss Augustus Tang set to retire, as the pandemic-hit airline rebuilds capacity. Lam, who joined Cathay in 1996, was previously the airline’s chief customer and commercial…
NEW YORK (Reuters) – Investors are expecting Republican gains in U.S. midterm elections, a result that could ease worries about Democratic spending and regulation but set up a bruising fight over raising the U.S. debt ceiling next year. The S&P 500 rose 0.56% on Tuesday during voting that will determine control of the U.S. Congress,…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares rose and the dollar wobbled on Wednesday as investors awaited U.S. inflation data as well as the results of the U.S. midterm elections that could signify a power shift in Washington. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.45% higher, while Japan’s Nikkei rose 0.2%…
