(Reuters) – French construction materials group Saint-Gobain on Thursday posted record first-quarter sales but flagged the higher impact of energy and raw material costs in 2022 amid a challenging geopolitical situation and supply chain issues. Saint-Gobain, which manufactures and distributes materials in sectors ranging from automotive to health, security, and food and beverages, also confirmed…
By Chris Prentice WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission (SEC) on Thursday sued Brazilian miner Vale SA for allegedly making false and misleading disclosures about the safety of its dams ahead of a 2019 disaster that killed 270 people. Beginning in 2016, Vale manipulated dam safety audits, obtained fraudulent stability certificates and misled…
(Reuters) -Europe’s biggest hotel group Accor said on Thursday it expected domestic demand to return to levels comparable to 2019 by the end of the year after reporting a jump in first-quarter revenue. The global travel and hospitality industry is recovering from the pandemic as higher vaccination rates and an easing of restrictions spur a…
By Sruthi Shankar and Susan Mathew (Reuters) – European shares moved further off six-week lows hit last session as forecast-beating results from companies including energy major TotalEnergies and automaker Volvo Car helped set aside worries about slowing global economic growth. The pan-European STOXX 600 index closed up 0.6%, but was below session highs, hit by…
(Reuters) – Europe’s biggest hotel group Accor reported on Thursday a jump in first-quarter revenue, as travel gradually recovers from the pandemic. “Accor’s performance in the first quarter of 2022 confirms the clear upturn in business across all regions and the renewed momentum in tourism, food services and entertainment,” Chairman and Chief Executive Officer Sebastien…
By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday called for a modernization of the U.S. unemployment insurance system, with more effective automatic stabilizers that speed assistance to workers who lose jobs or income when recessions hit. Yellen, in remarks to the Brookings Institution in Washington, said that recent recessions, including the…
By Kate Abnett and Francesco Guarascio BRUSSELS (Reuters) – The European Commission on Thursday warned buyers of Russian gas they could breach sanctions if they converted gas payments into roubles, as officials struggled to clarify the EU’s stance on Moscow’s payments scheme, which has sowed confusion in the bloc. Russian gas giant Gazprom cut supplies…
By Rajesh Kumar Singh and Kannaki Deka (Reuters) -Southwest Airlines Co on Thursday forecast “solid” profit for the current quarter and said quarterly revenue would surpass pre-pandemic levels on surging travel demand, sending its shares higher. The company said it turned a profit in the month of March and expects to be “solidly profitable” this…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday called for a modernization of the U.S. unemployment insurance system, with more effective automatic stabilizers that speed assistance to workers who lose jobs or income when recessions hit. Yellen, in remarks to the Brookings Institution in Washington, said that recent recessions, including the 2020 COVID-19…
(Reuters) – Shares of Meta Platforms Inc rose 17% in a relief rally on Thursday after having lost nearly half their value this year, as the social media giant surprised Wall Street with a better-than-expected rise in users joining the platform. The stock helped lift the tech-heavy Nasdaq in premarket trading, spreading cheer to several…
