(Reuters) – Navigation equipment maker Garmin beat market estimates for second-quarter revenue and profit on Wednesday, thanks to strong growth in its auto and fitness businesses. The company has been leaning on its diversified presence that spans smartwatches, GPS devices and technology used in vehicles to help ride out weaker spending by consumers and corporates…
By Rod Nickel WINNIPEG, Manitoba (Reuters) – TC Energy’s surprise plan last week to split the company accelerated a stock selloff, but shareholders bet the North American pipeline operator will finish the year on a higher note by completing the troubled Coastal GasLink project. Shares of Calgary, Alberta-based TC, which has a market value of…
(Reuters) – Auto parts supplier BorgWarner reported second-quarter results on Wednesday that beat analysts’ estimates, helped by sustained demand from automakers ramping up output. The Michigan-based company, whose customers include Volkswagen, General Motors and Ford, over the past two years has also been realigning itself to become an EV supplier. On an adjusted basis, BorgWarner…
(Reuters) -Kraft Heinz missed quarterly sales estimates on Wednesday as inflation-hit customers bought fewer packaged meals and condiments, discouraged by higher product prices. Shares of the Jell-O maker were down 0.5% in premarket trade after it also maintained its annual sales and profit forecasts. U.S. packaged food makers have kept their product prices higher for…
(Reuters) – U.S. engineering and industrial software firm Emerson on Wednesday raised its fiscal 2023 forecast, as companies increase spending on automation in response to a tight labor market. The company’s shares rose 3.9% in premarket trading. Companies across North America are working towards automating their factories in order to enhance efficiency and streamline operations…
By Tim Hepher and Joey Roulette PARIS (Reuters) – U.S. space venture company Voyager Space and Airbus said on Wednesday they will co-operate more closely in the race to build a private version of the International Space Station. The two companies announced plans in January for Airbus to provide design support for Voyager’s Starlab, one…
WASHINGTON (Reuters) -The United States has banned goods from two China-based companies as part of an effort to eliminate forced labor practices in the U.S. supply chain, prompting a warning from Beijing of measures to safeguard Chinese firms’ rights. The action targets Camel Group Co. Ltd., a battery manufacturer, and Chenguang Biotech Group Co. Ltd.,…
By Deborah Mary Sophia and Kailyn Rhone (Reuters) -Starbucks missed market expectations for quarterly comparable sales on Tuesday, with demand for its coffees and cold drinks showing some signs of tapering in the North American and international markets even as China sales rebounded sharply. The world’s largest coffeehouse chain has targeted its younger, wealthier U.S….
MANILA (Reuters) – The United States has expressed concern over the involvement of a Chinese state-owned firm that it blacklisted for its role in constructing and militarising artificial South China sea islands in Philippine reclamation projects. A spokesperson for the U.S. Embassy in Manila, Kanishka Gangopadhyay, said Washington also expressed to the Philippine government its…
By Selena Li and Kane Wu HONG KONG (Reuters) -Hong Kong stock exchange has removed a China-risk section for mainland-incorporated companies in its listing application rules with effect from Tuesday, which the bourse said was to align disclosure requirements for IPO-aspirants from other countries and the scrutiny level remains the same. In its latest revision…
