By Richa Naidu LONDON (Reuters) -Nestle and Danone are among firms whose product prices in France have risen by more than 10% this year, data shows, potentially putting them under government pressure to renegotiate with French retailers. Finance Minister Bruno Le Maire said on June 9 he had secured a pledge from 75 food companies…
(Reuters) – Specialty glass maker Corning forecast third-quarter core sales below Wall Street estimates on Tuesday, as it grapples with the ongoing slump in the consumer electronics market. Corning said it expects core sales of about $3.5 billion in the three months ending September, compared with analysts’ estimates of $3.70 billion, according to data from…
BRASILIA (Reuters) – Brazil’s government issued an executive order on Tuesday to initiate taxation on sports betting, in line with a measure announced by President Luiz Inacio Lula da Silva’s economic team to increase revenues. The measure takes immediate effect but must be voted on by Congress within four months to remain valid. Under the…
By Chris Prentice and Tom Sims NEW YORK/FRANKFURT (Reuters) – The U.S. Securities and Exchange Commission is preparing to resolve a two-year probe into allegations of greenwashing by the German fund manager DWS, with a fine by the end of September, two people with knowledge of the matter said. Resolution of the case with the…
By Rachel More BERLIN (Reuters) -German business morale deteriorated in July for the third month in a row, a survey showed on Tuesday, as analysts warned that Germany’s economic engine was struggling to recover after slipping into recession earlier this year. The Ifo institute said its business climate index stood at 87.3 following a revised…
(Reuters) – GE HealthCare Technologies Inc raised its annual profit forecast on Tuesday, after beating quarterly earnings estimates due to easing supply chain issues that had largely impacted electronic components during the pandemic. The X-ray and ultrasound machine maker managed to keep its costs in check while also seeing an improvement in production and pricing…
By Richa Naidu LONDON (Reuters) – Unilever, which makes Ben & Jerry’s and Magnum ice creams, said on Tuesday that it hopes to sell more ice cream in Europe this summer but extreme temperatures could dent sales as consumers turn to fizzy drinks instead. This month has seen record-breaking temperatures in southern Europe and the…
BEIJING (Reuters) – Several Chinese steel mills have received instructions to cap this year’s output at the same level as 2022, five people familiar with the matter and analyst reports said on Tuesday, potentially curbing iron ore demand in the world’s top steel market. Three mills owned by the world’s biggest steelmaker, state-owned China Baowu…
(Reuters) – Moody’s Corporation beat Wall Street estimates for second-quarter revenue on Tuesday, helped by steady demand from investors for its data, analytics and research services. Customer demand for the firm’s ‘Know Your Customer’ solutions as well as banking and insurance services has remained resolute against an uncertain macroeconomic environment, offsetting a hit from muted…
By Richa Naidu LONDON (Reuters) – Unilever, which has faced criticism for over a year for remaining in Russia, said on Tuesday that it could abandon, sell or retain its operations there but the “least bad” option is to “pursue our business but in a highly constrained manner”. The Russian state this month took control…
