FRANKFURT (Reuters) – The European Central Bank raised its deposit rate to a historic high on Thursday and kept its options open on whether more increases will be needed to bring down inflation against a worsening economic backdrop. Thursday’s hike, the ninth in a row, increases the rate that the ECB pays on banks’ deposits…
By Elisa Anzolin MILAN (Reuters) – Italian fashion group Prada posted 20% growth in first half sales on Thursday as a strong performance in Asia and Europe helped to offset a slowdown in its Americas region. The group reported double figure growth from all product categories, with ready-to-wear the strongest part, ahead of footwear and…
(Reuters) -Mobileye Global said on Thursday it expects a smaller operating loss for the full year as resilient demand for the company’s driver-assistance technology helped it report a better-than-expected quarterly revenue. Mobileye, which counts BMW, Nissan and Volkswagen among its customers, benefited from strong demand for its technology in North America and Europe, which helped…
AMSTERDAM (Reuters) – A burning car carrier was drifting off the Dutch coast on Thursday, the coastguard said, a day after the Panamanian-registered ship caught alight, causing the death of an Indian crew member and injuring several others. The 199-metre (653 ft) Fremantle Highway caught fire overnight Tuesday and several of the 23 crew jumped…
By Granth Vanaik and Doyinsola Oladipo (Reuters) – Cruise giant Royal Caribbean raised its full-year profit forecast on Thursday after posting a record for quarterly revenue, sending its shares to a three-year high on Thursday. Royal Caribbean and rivals have benefited from pent-up demand as travelers flock to cruises that are seen as a good…
(Reuters) -Netflix is restructuring its advertising partnership with Microsoft for its lower-priced ad-supported subscription plan and is also cutting ad prices, the Wall Street Journal reported on Thursday. The streaming company launched the $7-per-month plan with commercials last year in 12 markets, including the U.S., to attract more customers and selected Microsoft as its technology…
By Mariam Sunny (Reuters) -Laboratory Corp of America Holdings cut its annual profit forecast on Thursday following the spin off of its clinical development business, Fortrea. The lab operator has been struggling with a shortage of lab monkeys due to curbs on animal imports after a Cambodian supplier was charged in connection with illegal imports…
By Tom Sims, John O’Donnell and Emma-Victoria Farr FRANKFURT (Reuters) – New construction plunged in Germany during the first half of the year, data on Thursday showed, the latest sign of stress in the property market of Europe’s largest economy. New building starts were down 47% in the first six months, compared with the average…
FRANKFURT (Reuters) – European Central Bank policymakers debated raising banks’ mandatory reserves to 2% from 1% of their deposits at their meeting on Thursday as part of their fight against high inflation, two sources close to the matter told Reuters. The move would mop up more cash from the banking system and therefore contribute to…
By Andrey Sychev and Bartosz Dabrowski (Reuters) -Linde, the world’s largest industrial gases company, on Thursday raised its full-year earnings guidance after reporting second-quarter profit above market expectations, as higher pricing offset weaker volumes. Linde, which supplies gases such as oxygen, nitrogen and hydrogen to factories and hospitals, now expects its adjusted earnings per share…
