(Reuters) – Chilean state-owned mining company Codelco is optimistic about copper prices for 2022 boosted by higher demand, its president Maximo Pacheco said on Friday during a press conference. Pacheco, who spoke after a meeting with shareholders and Finance Minister Mario Marcel and Mining Minister Marcela Hernando, said the optimism stems from a global trend towards renewable…
By Saikat Chatterjee and Sujata Rao LONDON (Reuters) – The dollar’s race to two-decade highs is leaving a trail of destruction in its wake, exacerbating inflation in other countries and tightening financial conditions just as the world economy confronts the prospect of a slowdown in growth. This year’s 8% gain against a basket of currencies…
By Sruthi Shankar and Susan Mathew (Reuters) -European shares on Friday rose to their highest in a week as strong earnings reports and a rally in miners boosted risk appetite at the end of a volatile month dominated by concerns about slowing global growth. The pan-European STOXX 600 index rose 0.7%, trimming its monthly declines…
By Jonathan Stempel OMAHA, Neb. (Reuters) – The longtime chief executive of running shoe maker Brooks Running, a unit of Warren Buffett’s Berkshire Hathaway Inc, aims to more than triple revenue over the next decade, overcoming effects from supply chain disruptions and a lingering pandemic. Jim Weber, 62, who has led Brooks since 2001, said…
By Alexander Kloss and Ana CanteroRos (Reuters) -Swiss logistics group Kuehne + Nagel reported on Tuesday a 162% surge in its first-quarter net earnings, citing strong demand for capital and consumer goods. While its logistics volumes barely budged – sea freight was down 4% and air cargo was up 3% organically – quarterly earnings came…
By Sujata Rao LONDON (Reuters) – A dollar pullback from 20-year highs and Chinese authorities’ pledge to support economic growth offered respite to battered equity markets on Friday, though Wall Street remained poised to open lower after lacklustre earnings from retail giant Amazon. World stocks remain on course for their worst month since March 2020…
(Reuters) – Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow’s invasion of Ukraine on Feb. 24 have started to report associated losses. These are firms, listed by sector, that have provided cost estimates related to a temporary or permanent halt in Russia: APPAREL ADIDAS The German sportswear company warned…
(Reuters) – Russia made what appeared to be a late u-turn to avoid a default on Friday, as it made a number of already-overdue international debt payments in dollars despite previously vowing they would only be paid in roubles. Whether the money would make it to the United States and other Western countries that sanctioned…
By Sabrina Valle and Shariq Khan (Reuters) -Exxon Mobil Corp doubled its first-quarter per-share profit, it said on Friday, but the results fell short of Wall Street estimates, even excluding a $3.4 billion writedown from its withdrawal from Russia. The top U.S. oil producer tripled the size of its buyback program, similar to other energy…
WASHINGTON (Reuters) – U.S. consumer spending increased more than expected in March amid strong demand for services, while monthly inflation surged by the most since 2005. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 1.1% last month. Data for February was revised higher…
