By Fedja Grulovic and Lamine Chikhi RHODES/ALGIERS (Reuters) – Large areas of the Mediterranean sweltered under an intense summer heatwave on Tuesday and firefighters battled to put out blazes across the region. In Algeria, at least 34 people have died. In Croatia, flames came within 12 km (7.5 miles) of the medieval town of Dubrovnik…
By Greg Bensinger, Akash Sriram and Max A. Cherney SAN FRANCISCO (Reuters) -Alphabet’s second-quarter profit exceeded Wall Street expectations on Tuesday and the Google parent announced that its long-time CFO, Ruth Porat, would assume a new role while the company sought a new finance chief. Alphabet’s results were helped by steady demand for its cloud…
By Sheila Dang (Reuters) -Photo messaging app-owner Snap Inc on Tuesday gave weaker third quarter guidance than analysts had expected as it works to compete with tech giants for advertising dollars, sending its shares down 18%. The company’s Snapchat app has attracted hundreds of millions of users thanks to its lighthearted photo filters and new…
By Valerie Insinna, Mike Stone and Pratyush Thakur (Reuters) -Pratt & Whitney on Tuesday hit fresh turbulence over a problem-plagued engine model, prompting a 10% drop in shares of parent RTX as it said more than 1,000 engines must removed from Airbus planes and checked for microscopic cracks. It was the latest setback to the…
MEXICO CITY (Reuters) – Carrefour Brasil reported a 95.2% drop in its second-quarter adjusted net profit to reach 29 million reais ($6.10 million), hit by the financial impact of its integration with BIG Group, the company said on Tuesday. The Brazilian arm of French retailer Carrefour SA said that net sales rose 8.1% to reach…
By Niket Nishant and Sri Hari N S (Reuters) -Visa on Tuesday forecast annual results in line with Wall Street estimates and executives looked to allay fears of a spending slowdown, after the payments processor reported its smallest jump in quarterly profit in over two years. Months of high inflation and rising borrowing costs are…
By Brendan O’Brien (Reuters) -The 18-year-old son of NBA legend LeBron James suffered a cardiac arrest while practicing with the University of Southern California (USC) basketball team and was in stable condition, ESPN reported on Tuesday, citing a James family statement. The statement said Bronny James was no longer in intensive care at a hospital…
By Lisa Baertlein and Priyamvada C (Reuters) -UPS and its Teamsters union have signed a tentative contract deal for about 340,000 U.S. workers at the parcel delivery firm, one week ahead of a threatened strike that could have cost the economy billions and disrupted a quarter of the nation’s package shipments. Tuesday’s agreement, which must…
(Reuters) – Ukrainian President Volodymyr Zelenskiy said on Tuesday he would tolerate no corruption or treachery in affairs of state while his country is struggling to find the means to defend itself against Russian invaders. Zelenskiy made anti-corruption appeals in his nightly video address as two landmark cases came to light – the arrests of…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian stock markets will open strongly on Wednesday if the previous day’s China- and U.S.-fueled momentum doesn’t wilt, as investors brace for a triple whammy of major central bank policy decisions over the coming 72…
