By Olivier Sorgho (Reuters) -Randstad, the world’s biggest staffing firm, on Tuesday flagged weaker demand in a “challenging” jobs market, even as it beat expectations for second-quarter core earnings. Randstad, which recruits for companies and helps people find jobs, echoed the warnings of other recruiters as tough economic conditions drive some employers to job cuts…
By Kevin Yao BEIJING (Reuters) – China’s new central bank governor Pan Gongsheng brings with him the reputation of a firefighting technocrat, signalling growing concerns among the country’s leadership over systemic risks in the $57 trillion financial sector. Pan, who came to prominence fighting capital outflows last decade, will be tasked with stabilising a faltering…
By Praveen Paramasivam CHENNAI (Reuters) -Jubilant FoodWorks reported a 74% fall in quarterly profit on Tuesday as the Indian franchisee of Domino’s Pizza grappled with higher costs while also spending heavily to expand in the country. Consolidated profit fell to 289.2 million rupees ($3.53 million) in the first quarter ended June 30, from 1.13 billion…
(Reuters) – PulteGroup Inc beat Wall Street estimates for second-quarter profit and revenue on Tuesday, as strong demand for affordable housing and tight resale inventory boosted new home sales. Existing home-owners locked into a lower mortgage rates have been unwilling to re-sell their houses in a high interest rate environment, driving consumers to purchase new…
(Reuters) – Kimberly-Clark Corp raised its full-year sales and profit forecasts on Tuesday, as the maker of Kleenex tissues and KleenGuard benefits from price increases and resilient demand for essential products. Pandemic-induced supply-chain disruptions that was worsened by Russia’s invasion of Ukraine crisis fueled a spike in transportation and raw materials costs, forcing consumer goods…
By Patrick Wingrove (Reuters) – Cheaper versions of one of the most costly and widely used arthritis treatments in the U.S. are likely to fuel further scrutiny of the middlemen that negotiate drug prices for most insured Americans from lawmakers and the federal government, according to healthcare experts. Seven drugmakers this month launched their own…
By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) -Indonesia’s central bank held policy rates steady for the sixth straight review on Tuesday, saying current levels are enough to ensure inflation stays within its target this year while global uncertainties are expected to ease. Bank Indonesia (BI) also kept its 2023 economic growth projections unchanged in…
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Swiss private bank Julius Baer will end all business with clients based in Russia, it told them in a letter seen by Reuters on Tuesday, as wealth managers navigate a widening net of sanctions and restrictions related to Moscow’s invasion of Ukraine. Julius Baer will cease business with clients…
STOCKHOLM (Reuters) -Spotify Technology SA on Tuesday reported second-quarter results that comfortably beat expectations for both monthly active users and subscribers, and forecast the number of listeners each month would reach 572 million next quarter. After laying out plans last year to get 1 billion users by 2030 and to reach $100 billion revenue annually,…
LONDON (Reuters) – British manufacturing orders declined in July at the weakest rate this year, while expectations for increases in selling prices cooled further, an industry survey showed on Tuesday. The Confederation of British Industry’s monthly balance of new orders rose this month to -9 from -15 in June, the highest reading since December and…
