BEIJING (Reuters) -China’s cabinet on Tuesday issued a plan to stabilise its vital trade sector, including supporting exports of automobiles and facilitating visas for overseas businessmen, as subdued global demand threatens its exports outlook. The move came after Chinese officials repeatedly warned of a severe and complicated situation for foreign trade development as exporters reported…
By Shristi Achar A (Reuters) – Canada’s main stock index fell on Tuesday as investors remained on the sidelines in an earnings-heavy week, while weakness in crude and copper prices dragged the commodity stocks lower. At 10:03 a.m. ET (1403 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 113.01 points, or 0.55%, at…
By Richa Naidu LONDON (Reuters) – Nestle reported slightly better-than-expected first-quarter sales on Tuesday, as the world’s biggest packaged food company increased prices to offset weak sales volumes. The Swiss company, which makes KitKat chocolate bars, Nescafe coffee and Maggi stock cubes, said sales rose 5.6% to 23.5 billion Swiss francs ($26.48 billion) in the…
By Ananya Mariam Rajesh (Reuters) – PepsiCo Inc raised its annual forecasts on Tuesday after price hikes undertaken to offset higher costs and steady demand helped the soda and snack giant beat first-quarter results. The results pointed to a resilient consumer and followed similar quarterly performances by rival Coca-Cola and Nestle. PepsiCo’s shares rose 2%…
By Rajesh Kumar Singh and Abhijith Ganapavaram CHICAGO (Reuters) -General Electric Co on Tuesday raised the low end of its full-year profit forecast after quarterly profit topped Wall Street estimates as strong air travel demand drove up sales of jet engine spare parts and services. Rising interest rates, high inflation, mounting job losses and turmoil…
By Kate Abnett BRUSSELS (Reuters) -EU countries on Tuesday gave the final approval to the biggest revamp to date of Europe’s carbon market, which is set to make it more costly to pollute and sharpen the 27-member bloc’s main tool for cutting carbon dioxide emissions. The world’s first major carbon trading system has since 2005…
By Joseph White and Paul Lienert DETROIT (Reuters) -General Motors Co on Tuesday lifted its full-year profit and cash flow forecasts, citing stronger-than-expected demand and higher prices, but executives cautioned the price gains over 2022 won’t last as the year goes on. After better-than-expected first quarter results, the No. 1 U.S. automaker said it expects…
By Liz Hampton and Arunima Kumar (Reuters) – Oilfield firm Halliburton Co on Tuesday reported a first-quarter profit that topped Wall Street estimates as a tight services and equipment market has helped drive demand and improve its pricing. Global oil futures are currently trading above $80 a barrel, down about 20% from a year ago…
By Mike Stone and Pratyush Thakur WASHINGTON (Reuters) – Raytheon Technologies Corp reported a 4% rise in quarterly adjusted profit on Tuesday, as the aerospace and defense company saw strong Chinese demand for commercial aircraft spare parts and services. “The rebound in China was explosive,” chief financial officer Neil Mitchell said in an interview. “We…
By Hyunsu Yim (Reuters) -Netflix Inc said on Tuesday it will invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies and unscripted shows, doubling its investment in the market since 2016. The U.S. streaming service made the announcement after a meeting between South Korean President Yoon Suk…
