A look at the day ahead in markets from Dhara Ranasinghe. Bank of England boss Andrew Bailey is sorry for an “apocalyptic” view of the world, saying that monetary policy faces its biggest test in 25 years with surging inflation exacerbated by war in Ukraine and China’s COVID lockdowns. Federal Reserve chief Jerome Powell, who…
LONDON (Reuters) – Imperial Brands on Tuesday reported a marginal increase in first half sales as demand for ecigarettes and heated tobacco products helped make up for lower tobacco volumes. The maker of Winston cigarettes and Backwoods cigars reported adjusted net revenue of about 3.50 billion pounds up 0.3% in constant currencies, for the six…
BERLIN (Reuters) -Daimler Truck Holding increased its forecast for 2022 revenues to 48 – 50 billion euros ($52.21 billion) from 45.5 – 47.5 billion, it said on Tuesday, with a record-high order backlog enabling it to push up prices. The truckmaker still expected to make between 500,000 and 520,000 vehicles this year, as previously forecast…
ZURICH (Reuters) – ABB is aiming to increase sales at its motion business 50% quicker than the overall market for electric motors, the Swiss engineering company said on Tuesday ahead of its investor day for the division. The business, which makes motors and drives, is targeting faster growth by offering more variable speed drives which…
By Nupur Anand MUMBAI (Reuters) – Shares in state-owned Life Insurance Corp of India (LIC) slid 5% in their market debut on Tuesday, with sentiment hurt by recent market volatility. The government raised about $2.7 billion from selling a 3.5% stake in the country’s biggest insurer and largest domestic financial investor, marking India’s biggest IPO…
By Tetsushi Kajimoto TOKYO (Reuters) – The Bank of Japan must maintain current monetary stimulus to create sustainable increases in prices, corporate profits, jobs and wages, its deputy governor said on Tuesday, dismissing speculation about an early exit from accommodative settings. With inflation in Japan far below levels in the United States and elsewhere, the…
By Scott Murdoch HONG KONG (Reuters) – Asian shares edged higher on Tuesday despite data reinforcing investor fears the global economic recovery may be more fragile than expected, even as inflationary pressures remain high. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.84% on Tuesday, but is still down the index is down 6.7%…
SHANGHAI (Reuters) – Tesla has stopped taking orders for its electric pickup truck Cybertruck outside of North America, according to its official website. The U.S. automaker is only taking reservations of Cybertruck in Canada, the United States and Mexico, the website showed. Tesla declined to comment on the changes on its website. (Reporting by Zhang Yan,…
SHENZHEN, China (Reuters) – China’s strict COVID-19 controls will hamper foreign investment into the country for years to come as limits on travel block the pipeline for projects, the President of the American Chamber of Commerce warned on Tuesday. There are few signs that American companies are leaving the China market, but the years-long process…
By Tom Westbrook SINGAPORE (Reuters) – The dollar fought for a footing on Tuesday and the tumbling Chinese yuan found a floor as investors trimmed bets on whether U.S. interest rate rises will drive further dollar gains. The greenback has edged from a two-decade high this week and was a touch softer across the board…
