By Shariq Khan NEW YORK (Reuters) – Swiss-based energy trader Litasco is hiring experienced traders and has lined up credit lines to revive its business in the Americas that withered after Russia invaded Ukraine in 2022, three sources close to the company said. Neither Litasco nor its Russian parent, oil producer Lukoil PJSC, were included …
By Tim Hepher PARIS (Reuters) -Airbus is in the process of finalising delivery of its longest-range single-aisle jet, the A321XLR, to Spanish airline Iberia, industry sources said on Tuesday. The keenly awaited delivery – the first of a new variant of the best-selling A321 jet – involves a formal handover and transfer of ownership, though …
Airbus poised to deliver first A321XLR, sources say Read More »
By Sheila Dang (Reuters) -Snap beat Wall Street expectations for both quarterly revenue and user growth on Tuesday, as the parent company of messaging app Snapchat has been able to lure back some advertisers with better-performing ad features. It also announced a share repurchase program of up to $500 million. Shares of Snap initially fell …
Snap beats revenue and user growth estimates, announces $500 million buyback Read More »
MOSCOW (Reuters) -Russia will file a legal challenge against the seizure of Russian state assets in Finland as part of a claim against it by Ukrainian oil and gas company Naftogaz, the Kremlin said on Tuesday. Lawyers for Naftogaz said on Sunday they had obtained a freeze of Russian state-owned real estate and other assets …
Russia to contest Finnish asset seizure in legal battle with Ukraine’s Naftogaz Read More »
By Deborah Mary Sophia and Kenrick Cai (Reuters) – Google parent Alphabet said on Tuesday its AI investments were “paying off” as it reported a 35% surge in its cloud business and U.S. election-related spending lifted YouTube ad sales in the third quarter. Alphabet shares rose nearly 6% in after-market trading on Tuesday. Shares of …
Alphabet’s AI investments boost cloud sales, lifts maturing ad business Read More »
(Reuters) – Insurance company Chubb posted a rise in third-quarter profit on Tuesday, helped by strong underwriting gains in its property and casualty (P&C) segment and higher returns on its investments. Global P&C net written premiums rose 7.6% in the quarter ended Sept. 30, driven by commercial lines and consumer lines premium growth of 8.1% …
Insurer Chubb’s profit rises on underwriting gains, investment returns Read More »
By William Schomberg LONDON (Reuters) – Britain’s new finance minister Rachel Reeves will announce what may be the biggest tax hikes in three decades on Wednesday in a bid to fix the country’s sagging public services, alongside billions of pounds of extra borrowing to overhaul the economy. The Labour government is betting that its first …
UK’s new finance minister Reeves lines up tax hikes and borrowing in first budget Read More »
By Anuja Bharat Mistry (Reuters) -Mondelez International on Tuesday beat third-quarter revenue and profit estimates, as the Cadbury parent’s efforts to provide its products at different price points drove a sequential improvement in sales volumes. Demand for the company’s products held steady, as the prices of its candies and biscuits ranging from $3 to $4 …
Mondelez beats quarterly results on rebound in demand, higher prices Read More »
By Tim Hepher BRUSSELS (Reuters) -French jet engine maker Safran set out plans on Tuesday to invest more than 1 billion euros ($1.1 billion) and hire 4,000 people worldwide to “radically scale up” its maintenance network as the aviation industry tackles congested repair shops. The plan follows strong demand for LEAP jet engines that Safran …
Safran in major engine repair capacity expansion as demand soars Read More »
(Reuters) – British finance minister Rachel Reeves will hand the UK government’s armed forces a funding boost of almost 3 billion pounds ($3.90 billion) in the Oct. 30 budget, the Telegraph reported on Tuesday. ($1 = 0.7686 pounds) (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Leslie Adler)
