By Brenna Hughes Neghaiwi ZURICH (Reuters) -Credit Suisse on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and compensation costs. Though Switzerland’s second-biggest bank had flagged a large fourth-quarter loss, it was still steeper than expected. Analysts pointed to slides in revenue…
(Reuters) -Canadian business jet maker Bombardier Inc reported an adjusted quarterly profit on Thursday, helped by higher aircraft margins and cost reduction efforts. Bombardier’s business jet revenue decreased 24% to $1.87 billion on fewer deliveries of aircraft. However, Bombardier expects revenues to rise more than $6.5 billion in 2022 as higher-priced corporate planes account for…
LONDON (AP) — British Prime Minister Boris Johnson couldn’t escape his domestic woes during a trip to Belgium and Poland on Thursday aimed at increasing pressure on Russia over its military buildup near Ukraine. Johnson was trying to show NATO’s resolve in response to Russia massing troops near its neighbor’s borders. But he faced questions…
(Reuters) -PepsiCo Inc beat analysts’ estimates for quarterly revenue by more than $1 billion on Thursday, helped by higher prices and robust demand for its snacks and sodas. The company’s shares rose 1.4% in premarket trading, even as it forecast full-year earnings below estimates, signaling the impact from runaway cost inflation. PepsiCo, which raised prices…
PARIS (Reuters) -Shares in the world’s largest cosmetics company L’Oreal dropped on Thursday as higher marketing spending put pressure on profitability, overshadowing forecast-beating sales and gains in market share. The company’s spending on advertising and promotions, closely watched by investors, grew over the second half of the year. That weighed on the annual operating margin…
GENEVA (AP) — Credit Suisse on Thursday reported a fourth-quarter loss of 2 billion Swiss francs ($2.2 billion) as the top-drawer Swiss bank wrapped up “a year of challenges” marked by bad bets on a hedge fund, set asides for legal costs and accounting changes due to its acquisition of a U.S. investment bank over…
FRANKFURT, Germany (AP) — Germany Siemens AG, global maker of big-ticket machines and industrial equipment and software, saw net profit rise 20% to 1.8 billion euros in the last three months of 2021 as the rebounding global economy increased orders for its goods, including a 1-billion euro order for high speed trains in Germany. The…
BRUSSELS (AP) — The European Union is seeing its economic emergence from the unprecedented COVID-19 slowdown hampered by coronavirus-induced staff shortages, supply bottlenecks, runaway energy prices and subsequent inflation surges. In its winter 2022 forecast, the European Commission said Thursday that even though the economy has rebounded from stunning losses at the height of the…
MOSCOW (Reuters) – Russia’s Federal Antimonopoly Service (FAS) on Thursday said Alphabet’s Google had breached antitrust law related to suspending and blocking accounts on YouTube. Google is waiting for the FAS’ full decision in order to review it, the TASS news agency reported. Google did not immediately respond to a Reuters request for comment. (Reporting…
By Tommy Wilkes LONDON (Reuters) – The rebound in share prices took a pause on Thursday as investors geared up for crucial a U.S. inflation report that should offer new clues on the pace of Federal Reserve interest rate hikes. European stocks were mostly higher or unchanged on the day, while U.S. futures pointed to…
