MEXICO CITY (Reuters) -Steel producer Ternium’s net income rose 24% to $877.5 million during the first quarter from the year-ago period, the company said on Tuesday, citing higher steel prices partially offset by high costs of raw materials. The company, which operates in Mexico, Brazil, Argentina, Colombia, the United States and Central America, posted a…
By David Shepardson WASHINGTON (Reuters) -The U.S. Occupational Safety and Health Administration issued a https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/OSHA22599Amazon%20HAL%20-%205a1%20Letter%204.26.22.pdf hazard alert letter to Amazon.com Inc on Tuesday after six contractors were fatally injured and another was severely injured when a tornado struck Amazon’s Edwardsville, Illinois, warehouse in December 2021. OSHA did not issue any violations or citations after the…
By Paul Lienert and Joseph White (Reuters) -General Motors Co’s first-quarter profit beat analyst estimates on Tuesday, as the automaker focused on sales of more expensive models with higher margins, even with production still limited by chip shortages and supply chain disruptions. GM earned $2.9 billion in the quarter, compared with analysts’ estimates of $2.45…
(Reuters) – Chipotle Mexican Grill Inc forecast second-quarter same-store sales above analysts’ estimates on Tuesday, betting demand for its burritos and rice bowls will remain buoyant despite a few rounds of price increases. The burrito chain forecast comparable restaurant sales growth of 10% to 12% for the second quarter, compared with estimates of an 8.8%…
By Daina Beth Solomon MEXICO CITY (Reuters) – The new independent labor union at General Motors Co’s largest plant in Mexico is seeking a 19.2% wage increase, citing surging inflation, and the U.S. carmaker has countered with an offer of 3.5%, the head of the union SINTTIA told Reuters. GM would not confirm the percentage…
By Joseph White DEARBORN, Mich. (Reuters) -Ford Motor Co on Tuesday started regular manufacturing of its F-150 Lightning electric pickup truck, the most prominent emblem of the 119-year-old company’s drive to retool for a new century. Ford workers, top executives and a group of F-150 Lightning customers joined a party at Ford’s Rouge Electric Vehicle…
By Chris Prentice and Danilo Masoni WASHINGTON/MILAN (Reuters) -U.S. shares fell on Tuesday and European stocks extended losses for a third session as investors warily awaited U.S. tech earnings and worries over global growth lingered. China’s COVID-19 curbs and fears of aggressive U.S. Federal Reserve tightening continued to damp risk appetite and lifted the dollar…
By David Lawder WASHINGTON (Reuters) – If China wants its yuan to become a globally used currency, Beijing would need to have open capital markets and full currency convertibility, the International Monetary Fund’s No. 2 official said on Tuesday. IMF First Deputy Managing Director Gita Gopinath, speaking about the global lender’s new institutional view on…
(Reuters) – Russia’s top lender Sberbank is still trying to fund property developers in spite of “difficulties and losses” that the sanctioned bank is experiencing, Deputy Prime Minister Marat Khusnullin said on Tuesday, the RIA news agency reported. Khusnullin gave the first insight into the strain that unprecedented sanctions against Moscow are putting on the…
WARSAW (Reuters) -Poland could drastically cut back on flights to and from Warsaw from May 1 if a dispute with air traffic controllers over pay and conditions is not resolved, according to legislation published before negotiations were set to resume on Tuesday. Almost 90 percent of air traffic controllers in Warsaw chose to quit rather…
