By Yuvraj Malik and Eva Mathews (Reuters) – Facebook-owner Meta Platforms Inc is expected to report its slowest quarterly ad revenue growth in a decade on Thursday, as businesses pull back on ad spending against the backdrop of soaring inflation worldwide and the war in Ukraine. Global advertising and marketing budgets will be strained further…
(Adds dropped word ‘permanently’ in final paragraph) By Federica Urso (Reuters) – Companies in North America and Europe plan to give more employees an equity stake in their businesses to help retain talent amid a pandemic-induced “Great Resignation”, a survey showed on Wednesday. Global Equity Organization (GEO), a not-for-profit body tracking global share plans and…
MILAN (Reuters) – Generali shareholders will vote to select a chief executive and board of directors on April 29. Philippe Donnet, who has been CEO at Europe’s third-largest insurer since 2016, is running for reappointment with the backing of Generali’s outgoing board and its leading shareholder Mediobanca. Donnet’s candidacy is opposed by Italian tycoon Francesco…
By Pushkala Aripaka and Natalie Grover (Reuters) – GSK beat first-quarter sales and earnings forecasts on Wednesday, helped by demand for its COVID-19 therapy and shingles vaccine, as the drugmaker moves towards the July separation of its consumer health business. Shares of the British company, which also reiterated its 2022 financial forecasts, were up about…
(Reuters) – Gulfstream jet maker General Dynamics Corp on Wednesday posted a 3.1% rise in first-quarter profit, as demand for private air travel during the COVID-19 pandemic remained high. Cautious passengers who opted for private flights instead of commercial flights due to fears of contracting COVID-19 have helped drive U.S. private air traffic higher than…
By Shadia Nasralla (Reuters) – Oil was broadly steady on Wednesday after Russia cut gas supplies to Bulgaria and Poland, while lingering concerns about Asian coronavirus lockdowns weighing on economic growth and oil demand kept a lid on prices. Having dipped into negative territory, Brent crude futures rose 53 cents, or 0.5%, to $105.52 a…
ZURICH (Reuters) – Credit Suisse has no plans for a capital increase, a source familiar with the matter told Reuters on Wednesday, after the Swiss bank reported a dip in capitalisation. As the bank reported a 273 million Swiss franc ($283.6 million) first-quarter loss on Wednesday, executives said capital could remain constrained over the next…
HELSINKI (Reuters) – Elevator-maker Kone posted weaker-than-expected first-quarter core earnings on Wednesday, burdened by supply chain constraints and a decline in its China business, and trimmed its full-year sales and earnings outlook. January-March operating profit fell to 171.1 million euros ($181.6 million) from 249.8 million euros a year earlier, missing the 225.8 million euro estimate…
(Reuters) – Russia expects the economy to contract by 8.8% in 2022 in its base case scenario, or by 12.4% under a more conservative scenario, an economy ministry document showed on Wednesday, further evidence that sanctions pressure is taking its toll. The conservative forecast is in line with that of former finance minister Alexei Kudrin,…
BERLIN (Reuters) – Germany is preparing for a change of control at the PCK refinery in Schwedt operated by Russian state-owned Rosneft which accounts for all of Germany’s remaining Russian oil imports, Economy Minister Robert Habeck said on Wednesday. Germany has set out plans to become independent of Russian oil, which would make a European…
