SAO PAULO (Reuters) -Brazilian lender Santander Brasil on Wednesday reported a 45% drop in second quarter net profit, dragging on the performance of its Spanish parent. The bank, an unit of Spain’s Banco Santander, said in a securities filing its net income reached 2.26 billion reais ($475.76 million) in the period. That was 5.5% higher…
By Akash Sriram and Stephen Nellis (Reuters) -Artificial intelligence is expected to pay off big for tech giants including Microsoft and Alphabet someday. But expect deeper investments before gains trickle to the bottom line, the companies said on Tuesday. Microsoft said costs rose sharply as it built new data centers to support AI and that…
By Giulio Piovaccari MILAN (Reuters) – Stellantis CEO Carlos Tavares said a production target of one million vehicles in Italy it is discussing with Rome was well within reach but it could not be a one-sided commitment and the government must support it. Tavares and Italy’s Industry Minister Adolfo Urso agreed this month on an…
By Aditya Soni (Reuters) – Alphabet rallied more than 5% on Wednesday on signs its dominant Google Search business was faring well in an uncertain advertising market and remained unscathed in the face of competition from an AI-powered Microsoft Bing. The world’s fourth most valuable firm was on track to add more than $80 billion…
(Reuters) -Canada’s Rogers raised its annual forecasts for adjusted core earnings and free cash flow on Wednesday, betting on strong demand for its wireless services, sending its shares up more than 4%. An expanding 5G network and plan bundles have helped Rogers attract cost-conscious consumers in a highly competitive market that includes players such as…
By Josh Smith SEOUL (Reuters) -After years of pandemic isolation, North Korea has invited its friends back this week, hosting senior Chinese and Russian delegations for 70th anniversary commemorations of the Korean War and the struggle against the United States and its allies. The visiting dignitaries, which include Russian Defence Minister Sergei Shoigu and Chinese…
By Paul Sandle and Sarah Young LONDON (Reuters) – Aero-engineer Rolls-Royce hiked its full-year operating profit forecast by around 45% on Wednesday after operational improvements, increased military spending and a recovery in long-haul flying delivered a stronger-than-expected first half. Shares in the British company jumped 20% to 183 pence, the highest level since the start…
(Reuters) -China Evergrande New Energy Vehicle Group reported a combined net loss of 71.12 billion yuan ($9.95 billion) for 2021 and 2022 as it posted its long overdue financial results on Wednesday. The NEV company, which has been under pressure since its parent China Evergrande group got sucked into a debt crisis in mid-2021, had…
By Ananya Mariam Rajesh (Reuters) -Coca-Cola Co raised its annual revenue and profit forecasts after beating quarterly results on the back of higher pricing, with demand for its sodas remaining resilient at a time when consumers are cutting back on non-essential spending. Recent results from rival PepsiCo and consumer products makers in Europe such as…
By Joyce Lee SEOUL (Reuters) – Samsung Electronics unveiled its latest foldable smartphones on Wednesday, keeping prices around the same level three years in a row as it seeks to challenge Apple’s dominance in the premium market. The world’s largest smartphone maker pioneered the segment in 2019, betting that it would appeal to consumers looking…
