By Herbert Lash and Danilo Masoni NEW YORK/MILAN (Reuters) – A gauge of global equity markets rose slightly on Tuesday while 10-year U.S. Treasury yields slid from 3% amid investor caution ahead of the biggest single-day rate hike expected by the U.S. Federal Reserve since 2000. In a sign of the challenge the Fed faces…
By Eva Mathews and Helen Coster (Reuters) -Paramount Global reported forecast-missing quarterly revenue on Tuesday that sent its shares down 6%, but the media giant still added millions of streaming subscribers. Total revenue fell about 1% to $7.33 billion in the first quarter, below analysts’ estimates of $7.38 billion, according to IBES data from Refinitiv….
By Mrinalika Roy and Leroy Leo (Reuters) – Biogen Inc said on Tuesday that Chief Executive Michel Vounatsos will step down and that the company is pulling back on selling its Alzheimer’s drug Aduhelm after the U.S. government’s Medicare program restricted coverage of the controversial treatment to patients in clinical trials. Vounatsos, who was named…
By Manas Mishra and Michael Erman (Reuters) – Pfizer Inc maintained sales forecasts for its COVID products on Tuesday after a series of hikes to the sales outlook for its COVID-19 vaccine last year, in a sign that dizzying growth has slowed. Several countries across the globe have eased pandemic-linked restrictions and relaxed rules related…
By Alex Lawler LONDON (Reuters) -Oil slipped by more than 1% on Tuesday as concerns about demand due to China’s prolonged COVID lockdowns outweighed support from a possible European oil embargo on Russia over its actions in Ukraine. Beijing, reporting dozens of new cases daily, is mass-testing residents to avert a lockdown similar to Shanghai’s…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – A battery startup founded by a former Tesla engineer announced on Tuesday plans for U.S.-based mass production of next-generation materials aimed at cutting costs, boosting driving ranges and reducing the industry’s reliance on China. Sila Nanotechnologies will invest in the low hundreds of millions of dollars in a…
By Eva Mathews and Helen Coster (Reuters) – Paramount Global said on Tuesday it added more than 6 million streaming subscribers in the first quarter but missed revenue estimates, hurt by weaker TV advertising sales in a period without the Super Bowl broadcast. Shares of the company, formerly known as ViacomCBS, fell more than 4%…
By Marc Jones LONDON (Reuters) – Global supply chain problems look to set to worsen, a new report published on Tuesday said, as China’s COVID-19 lockdowns, Russia’s invasion of Ukraine and other strains cause even longer delays at ports and drive up costs. The study by analysts at Royal Bank of Canada (RBC) found that…
(Reuters) -U.S. refiner Marathon Petroleum posted a first-quarter profit on Tuesday, compared with a loss last year, buoyed by strong refining margins as demand for fuel and refined products recovered to near pre-pandemic levels amid tight supplies. Global fuel demand has recovered to near pre-COVID-19 levels, while Western sanctions on Russia following its invasion of…
(Reuters) – Private equity firm KKR & Co Inc said on Tuesday that its first-quarter distributable earnings rose 47% year-on-year, thanks to a surge in asset sales and a rise in revenue from fees it charges investors to manage their money. KKR’s earnings jump came despite financial markets plummeting in February in the wake of…
