(Reuters) – Smartwatch and navigation equipment maker Garmin Ltd topped first-quarter revenue estimates on Wednesday, boosted by strong growth in its businesses catering to the aviation and marine industries. Garmin’s diversified business is helping the company navigate a downturn in spending from recession-wary consumers, which pushed down sales at its outdoor unit – the biggest…
(Reuters) – U.S. engineering and industrial software firm Emerson Electric Co on Wednesday raised its fiscal 2023 outlook and reported better-than-expected quarterly earnings, on the back of strong demand for its automation systems in a tight labor market. Shares of the company were up 2.1% in premarket trading. The firm has benefited from companies worldwide…
By Lisa Richwine and Rollo Ross LOS ANGELES (Reuters) – Hollywood film and television writers went on strike on Tuesday, shutting down late-night TV shows, and took their demands for higher pay to the doors of major studios in a labor dispute that hinges on how the streaming boom is changing show business. Hundreds of…
(Reuters) – Ford Motor Co expects to take up restructuring charges between $1.5 billion and $2 billion in 2023, it said in a regulatory filing on Wednesday, as part of the U.S. automaker’s move to exit unprofitable locations and cut headcount. The charges will be primarily attributable to “employee separations and supplier settlements,” the automaker said, adding…
By Shaloo Shrivastava and Indradip Ghosh BENGALURU (Reuters) – The U.S. dollar will remain resilient against most major currencies over the coming months despite expectations of narrowing interest rate differentials, a Reuters poll of foreign exchange strategists predicted. Although the greenback weakened 0.8% last month, it was mild compared to March’s 2.3% slide as persistently…
By Jacob Gronholt-Pedersen, Greg Roumeliotis and Marie Mannes COPENHAGEN/NEW YORK (Reuters) -U.S. asset manager Apollo Global Management Inc plans to apply for approval from Swedish and Danish regulators to take a majority stake in SAS AB as part of the Scandinavian airline’s rescue plan, a source familiar with the matter said. The news of interest…
A look at the day ahead in U.S. and global markets from Mike Dolan Markets finally worked out May might be a bit bumpy after all. Another echo of March’s bank stock stress on Tuesday along with the alarming prospect of the U.S. government running out of cash in less than a month was enough…
By Mike Dolan LONDON (Reuters) -The surging euro may be the European Central Bank’s best friend for a change. Unlike much of the past 15 years, euro strength is on the ECB’s side as it meets on Thursday. And it is unlikely to restrain the central bank from tightening further. With so much focus on…
By Nell Mackenzie LONDON (Reuters) – Hedge fund manager Pierre Andurand’s Commodities Discretionary Enhanced Fund ended March down 15% and 34% lower for the year so far, eliminating over half of the fund’s 2022 gains, said a client note from Societe Generale seen by Reuters. March saw a wild ride in commodities prices with crude…
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – Interest rate hikes from central banks around the globe slowed to a trickle in April thanks to a combination of easing inflation and slowing growth prospects amid a dearth of meetings on monetary policy decisions. April saw two interest rate hikes across five meetings by central…
