(Reuters) – Eli Lilly and Co on Thursday posted quarterly results that beat Wall Street estimates and said its experimental obesity drug met the main goal in a late-stage study, sending shares of the drugmaker up 4%. Tirzepatide showed up to 22.5% weight loss in adults with obesity in the study, with the trial also…
(Reuters) -Domino’s Pizza Inc missed quarterly U.S. same-store sales estimates on Thursday and said staffing shortages and unprecedented inflation will haunt it further into the year, sending the fast-food chain’s shares down 5%. U.S. restaurants have in recent months struggled to keep their workers from leaving for higher-paying jobs, with Domino’s even offering consumers a…
By Lawrence White and Iain Withers LONDON (Reuters) -Barclays has put its $1.25 billion share buyback plan on hold until talks with U.S. regulators over a major trading blunder have been resolved, piling early pressure on the British bank’s new Chief Executive C.S. Venkatakrishnan. Barclays disclosed on March 28 that it had exceeded a U.S….
By Krishna N. Das and Munsif Vengattil NEW DELHI (Reuters) – India has reiterated its position on social-media accountability in response to Elon Musk’s pending takeover of Twitter, saying platforms must make checks on users and content. A change in ownership would make no difference, Rajeev Chandrasekhar, India’s junior minister for electronics and technology, said…
By Mike Stone and Ashwini Raj (Reuters) – U.S. weapons maker Northrop Grumman Corp reported a fall in first-quarter sales and adjusted profit on Thursday, hit by labor shortages and supply chain issues. An acute labor shortage due to the Omicron-led surge in coronavirus infections led to demand for workers far outpacing supply. Chief Executive…
By Richa Naidu (Reuters) -Unilever raised prices by over 8% in the first quarter and warned more hikes were on the way as the maker of Dove soap and Ben & Jerry’s ice cream lifted its cost inflation forecast for the second half of the year due to the Ukraine conflict. The company said it…
MILAN (Reuters) – Andrea Guerra, the former chief executive of Italian eyewear giant Luxottica, is leaving LVMH after leading its hotel business over the past two years, the French luxury goods group said on Thursday. Guerra, who had also taken on oversight of the group’s Fendi and Loro Piana Italian fashion brands and LVMH’s Thelios…
By Dominique Vidalon PARIS (Reuters) -French spirits group Pernod Ricard posted a forecast-beating 20% jump in third quarter sales on Thursday but said COVID-19 measures in China, war in Ukraine, and a normalisation of its U.S. business could mean a softer fourth quarter. Despite the challenges, the maker of Martell cognac and Absolut vodka, forecast…
BEIJING (Reuters) – China will cut import tariffs for all types of coal to zero from May 1, 2022, until March 31, 2023, the finance ministry said on Thursday, as Beijing strives to ensure energy security amid soaring global prices and supply disruption concerns. Top Chinese officials, including President Xi Jinping, have repeatedly addressed the…
By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) – The dollar was on the cusp on Thursday of its highest in two decades on Thursday while stocks gained on corporate earnings, with the yen tumbling to its lowest since 2002 after the Bank of Japan doubled down on its ultra loose monetary policy. The yen…
