Canadian factory PMI falls in April as downturn hits one year
By Fergal Smith TORONTO (Reuters) - Canadian manufacturing activity slowed in April, extending a lengthy period of contraction for the sector, as output and new orders fell at an accelerated pace and inflation pressures picked up, data showed on We...
2h ago
Aircraft lessor DAE set to receive half promised Boeing planes this year
DUBLIN (Reuters) - Aircraft lessor Dubai Aerospace Enterprise (DAE) Capital will likely receive around half the number of aircraft from Boeing this year than the planemaker had originally committed to deliver, DAE's chief executive said on Wednesda...
2h ago
US manufacturing sector regresses in April; prices paid near two-year high
WASHINGTON(Reuters) - U.S. manufacturing contracted in April amid a decline in orders after briefly expanding in the prior month, while a measure of prices paid by factories for inputs approached a two-year high. The Institute for Supply Management...
2h ago
Portugal swings to unexpected $276 million budget deficit
By Sergio Goncalves LISBON (Reuters) - Portugal swung to an unexpected budget deficit of 259 million euros ($276 million) in the first quarter from a surplus of 5.1 billion euros a year ago, the finance ministry said, blaming the previous governmen...
3h ago
Utility PPL Corp's first-quarter results beat on lower operating costs
(Reuters) - PPL Corp reported first-quarter results ahead of analysts' estimates on Wednesday as the electricity and natural gas utility benefited from lower operating costs and higher transmission revenue. The company's Kentucky Regulated earnings...
3h ago
US private payrolls beat expectations in April
WASHINGTON(Reuters) - U.S. private payrolls increased more than expected in April while data for the prior month was revised higher, a report showed on Wednesday. Private payrolls increased by 192,000 jobs last month after rising by an upwardly rev...
3h ago
Exclusive-Near-record high LME prices a magnet for Chinese copper exports
By Pratima Desai and Siyi Liu LONDON/BEIJING - China's copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, aiming to cool a rally that has propelled prices towards record highs and hit their o...
3h ago
Airbus ready to lock out A220 workers if offer rejected
By Allison Lampert MONTREAL (Reuters) - Airbus is ready to lock out its Canadian A220 workers if a latest contract offer is rejected on Wednesday, according to sources and a conciliator's recommendations seen by Reuters. Airbus and the Internationa...
3h ago
Bombardier reveals NetJets as the buyer of 12 Challenger business jets
(Reuters) - Canada's Bombardier said on Wednesday NetJets was the customer for the order of 12 Challenger 3500 business jets announced in December. At list prices, the order was valued at $326.4 million at the time of signing, but could amount to m...
4h ago
NYCB forecasts estimate-topping profit for next 2 years, shares jump
(Reuters) -New York Community Bancorp forecast profits for the next two years that topped analysts' predictions by a wide margin, sending its battered shares up 15%. The bank, however, posted a first quarter loss and increased its loan loss provisions ...
4h ago
Marriott lifts profit forecast on international travel demand
(Reuters) - Hotel operator Marriott International raised its forecast for annual adjusted profit on Wednesday, banking on international travel demand to offset normalizing domestic travel in the U.S. International travel demand is expected to remai...
4h ago
Kraft Heinz misses first-quarter sales estimates on sluggish demand
Kraft Heinz missed Wall Street expectations for first-quarter sales on Wednesday, as inflation-weary consumers pushed back on higher prices of its branded lunch combos, meat cold cuts and mac & cheese. Shares were down 4% before the bell, even as the p...
4h ago
KKR's earnings rise 20% on strong management fees, annuities business
By Chibuike Oguh NEW YORK (Reuters) - Private equity firm KKR & Co Inc said on Wednesday its first-quarter adjusted net income jumped 20% year-on-year, driven by strong management and transaction fees as well as earnings from its annuities business...
4h ago
KFC parent Yum reports surprise drop in global same-store sales on weak demand
By Juveria Tabassum (Reuters) -Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets. Cons...
4h ago
Loblaw reports strong first quarter on resilient demand, easing food prices
(Reuters) - Canadian food and pharmacy retailer Loblaw Companies topped expectations for first-quarter revenue and profit on Wednesday, aided by sustained consumer demand well as easing prices of grocery items. The company has seen gains from stead...
4h ago
Johnson Controls rides on residential construction demand to beat profit estimates
Johnson Controls beat analysts' expectations for second-quarter profit on Wednesday, as strong residential construction activity in the U.S. boosted demand for its products such as air conditioning units, heating systems and automation systems. A tight...
4h ago
Norwegian lifts annual profit target but Q1 revenue miss drags shares
(Reuters) -Norwegian Cruise Line Holdings raised its full-year profit forecast after beating first-quarter earnings estimates on Wednesday, betting on record demand for cruise vacations to destinations like the Caribbean and higher ticket prices. Howev...
4h ago
Starbucks shares tumble as China, US demand slowdown clouds outlook
(Reuters) - Shares of Starbucks fell nearly 14% before the bell on Wednesday, after the coffee chain cut its annual forecasts on persistent weak demand in the United States from inflation-weary customers and a slower-than-expected recovery in China...
4h ago
Mastercard profit rises on strong card spending by U.S. consumers
(Reuters) -Mastercard's first-quarter profit jumped on strong card spending as U.S. consumers kept up their splurging habits despite rising borrowing costs and persistent inflation. Payments firms have benefited from resilient spending, thanks to wage ...
4h ago
Dayforce raises 2024 revenue forecast on strong payroll demand
(Reuters) - Dayforce, formerly Ceridian HCM Holding, raised its full-year revenue forecast on Wednesday, helped by strong demand for its payroll services amid a resilient labor market. A rise in U.S. jobs is driving demand for the company's human r...
4h ago
Amgen investors await weight-loss drug data
By Deena Beasley (Reuters) - Amgen investors eyeing dramatic share price gains for rivals with successful obesity drugs will be focused on any updates the biotech company may provide on its own weight-loss drug candidates when it reports quarterly ...
4h ago
AMD, Super Micro tumble as earnings fall short of lofty AI expectations
(Reuters) - Shares of Advanced Micro Devices and Super Micro Computer sank on Wednesday, sparking a selloff in chip stocks, after their earnings disappointed investors who have piled into the sector on hopes rising AI investments would boost demand...
4h ago
Garmin's Q1 results beat on strong demand for fitness, auto products
(Reuters) - Swiss navigation device maker Garmin topped Wall Street expectations for first-quarter results on Wednesday, benefiting from new launches and strong demand for its products in fitness and auto segments. Garmin, which offers GPS devices...
4h ago
J&J advances $6.475 billion settlement of talc cancer lawsuits
By Dietrich Knauth NEW YORK(Reuters) - Johnson & Johnson is moving forward with a $6.475 billion proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talc products contain asbestos and cause ovarian cancer, t...
5h ago
Estee Lauder lifts annual profit view on US, China demand recovery
(Reuters) -Estee Lauder raised its annual profit forecast and beat Wall Street targets for third-quarter sales on Wednesday, as demand for the MAC lipstick maker's higher-priced skincare and fragrances rebounded in the U.S. and Asia Pacific markets. Sh...
5h ago