By Arundhati Sarkar (Reuters) – Gold prices were flat on Friday and poised for a fourth consecutive monthly drop, as an elevated U.S. dollar and aggressive monetary policies from top central banks continued to erode demand for bullion. FUNDAMENTALS * Spot gold <XAU=> was flat at $1,755.59 per ounce, as of 0045 GMT. U.S. gold …
Firm dollar pushes gold to fourth straight monthly loss Read More »
By Silke Koltrowitz ZURICH (Reuters) -Nestle warned on Thursday that price hikes could eventually weigh on sales volumes for the maker of Cheerios cereals, Kit Kat bars and Nescafe as it raised its full-year sales growth forecast to 7-8% and trimmed its margin guidance. Cost inflation hurt the world’s biggest food group less than expected …
Nestle raises growth outlook, eyes consumer reaction to price hikes Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices were mixed on Thursday as concerns about a potential global recession that would knock energy demand offset lower U.S. crude inventories and a rebound in gasoline consumption. Brent crude futures rose 52 cents to settle at $107.14 a barrel, after gaining $2.22 on Wednesday. U.S. West Texas …
Oil mixed as U.S. gasoline demand rebounds but recessionary fears loom Read More »
By Mimosa Spencer PARIS (Reuters) -Cosmetics group L’Oreal bucked a declining trend for the luxury and fashion industry in China with sales growing in the second quarter despite COVID-19 lockdowns, as the make-up market rebounds. The group said on Thursday overall sales for the three months to June came in at 9.31 billion euros ($9.46 …
L’Oreal bucks trend with Chinese sales growth in Q2 Read More »
By Victoria Waldersee BERLIN (Reuters) -Volkswagen said it expected to hit the high end of its profit target range for 2022 as supply chain bottlenecks ease and said it was still aiming to list the Porsche brand this year despite its CEO double jobbing as boss of both companies. Volkswagen shares rose 2% in early …
Volkswagen keeps outlook, says Porsche IPO on track Read More »
By Nupur Anand and Swati Bhat MUMBAI (Reuters) – Loan growth in India is at a three-year high and seen inching up further as economic activity gains traction but a much slower growth in deposits could send banks scurrying for funds and prompt deposit rate increases, say analysts and bankers. Deposit growth has floundered as …
As credit demand grows in India, banks may soon be scrambling for deposits Read More »
BENGALURU (Reuters) -Consumer goods conglomerate Nestle India Ltd said it was seeing early signs of softening of prices in commodities such as edible oil and packaging materials, against the backdrop of surging inflation. Nestle, which sells the popular Maggi instant noodles, KitKat chocolates and Nescafe coffee in the country, said on Thursday profit for the …
Nestle’s India unit says seeing early signs of easing costs Read More »
By Kavya Guduru and Ashitha Shivaprasad (Reuters) – Gold jumped more than 1% as the dollar and Treasury yields retreated after the U.S. Federal Reserve hiked interest rates by 75 basis points as expected. Spot gold rose over 1% to $1,735.49 per ounce by 3:36 p.m. EDT (1936 GMT). U.S. gold futures settled 0.1% higher …
Gold bounces over 1% as dollar retreats post Fed verdict Read More »
CAIRO (Reuters) – Egypt has signed a memorandum of understanding (MoU) with an Indian company to build a green hydrogen factory in the Suez Canal Economic Zone, a cabinet statement said on Wednesday. According to the MoU, Indian ReNew Power Private Limited will build a factory to produce 20,000 tonnes of green hydrogen a year, …
Egypt and India sign MoU to build a green hydrogen factory worth $8 billion Read More »
By Tanvi Mehta and Aditi Shah BENGALURU (Reuters) – Tata Motors Ltd expects strong demand to drive up sales of its cars, including at the luxury Jaguar Land Rover (JLR) unit, as the semiconductor shortage eases, even as it posted a wider quarterly loss on higher costs. The carmaker reported a consolidated net loss of …
JLR parent Tata Motors sees sales picking up as chip shortage eases Read More »
