(Reuters) – AbbVie Inc missed Wall Street estimates for first-quarter sales on Friday, hurt by European competition for its blockbuster rheumatoid arthritis drug Humira and lower-than-expected revenue from its newer drug Rinvoq. Sales of the world’s best selling drug, Humira, fell 2.7% to $4.74 billion in the first quarter, below estimates of $4.91 billion as…
By Elizabeth Howcroft LONDON (Reuters) – The dollar edged down from its recent 20-year high on Friday but was still on track for its best month since 2015, having been boosted by a combination of expectations for U.S. rate hikes and growth concerns in China and Europe. In the final trading day of a seismic…
(Reuters) -Honeywell International Inc raised its full-year profit forecast on Friday, as a recovery in aviation markets due to a pickup in travel boosted demand for the company’s parts, software and aftermarket services. Booming air travel demand has forced legacy aircraft makers such as Boeing Co and Airbus SE to increase production leading to higher…
By Tom Hals (Reuters) – Elon Musk’s $44 billion takeover of Twitter is helping provide ammunition for an upcoming trial where an investor will argue the CEO’s $56 billion pay package from Tesla Inc is a waste of money that failed to secure his full-time services. The deal for Twitter Inc and its potential to…
COPENHAGEN (Reuters) – Danske Bank reported lower-than-expected first-quarter profits, citing higher costs and turbulent financial markets, sending its shares lower on Friday even as it maintained its full-year profit outlook. Danske shares were down 3.65% at 0940 GMT after it reported first quarter net profit of 2.8 billion Danish crowns ($396.28 million), below an average…
By Essi Lehto HELSINKI (Reuters) – Finland’s Nokian Tyres is still running its Russian factory and as long as it stays in the company’s hands production there will not support Russia’s war in Ukraine, CEO Jukka Moisio told Reuters in an interview. The company turned from basking in record earnings to survival mode in February…
COMO, Italy (Reuters) – The head of carmaker Stellantis said on Friday he did not see an improvement in the semiconductor supply chain before next year. “Semiconductor supply is still very short, the situation is very similar to that of 2021, I would say 2022 would not bring a major improvement,” Chief Executive Carlos Tavares…
(Reuters) – The Russian rouble firmed on Friday, hovering near highs last seen in March 2020 against the euro and strengthening past 72 against the dollar, while the market awaited an expected rate cut by the central bank. Movements on the Russian market are partly artificial as the rouble is propped up by capital controls,…
By Jesús Aguado MADRID (Reuters) – Spanish bank BBVA beat forecasts on Friday with a 36.4% year-on-year rise in first quarter net profit, driven by a strong performance in emerging markets, led by Mexico. Net profit came in at 1.65 billion euros ($1.74 billion) in the January to March period, more than the 1.24 billion…
By Florence Tan and Muyu Xu SINGAPORE (Reuters) – Top oil exporter Saudi Arabia may cut prices for crude grades sold to Asia in June after benchmarks slumped from records in the previous month as COVID lockdowns curbed demand in China, the world’s biggest crude importer, traders said on Friday. Global markets were rattled last…
