By Anna Peverieri and Michal Aleksandrowicz (Reuters) -ArcelorMittal, the world’s No. 2 steelmaker, reported second-quarter core profit tumbled 38% on low steel prices but the result was somewhat better than expected as shipments picked up from the previous quarter. Steel prices in Europe and the U.S. are below the marginal cost of production and excess …
ArcelorMittal’s Q2 core earnings slide but ahead of expectations Read More »
By Pranav Kashyap (Reuters) -Financials and auto stocks weighed European shares down on Thursday, bucking a global rally sparked by the U.S. Federal Reserve opening the door to easing in September. The pan-European STOXX 600 index lost 0.5% by 0825 GMT, after touching a two-week high in the previous session. The banking sector fell the …
European shares buck global rally as financials, auto stocks drag Read More »
By Andy Bruce (Reuters) – British factories recorded their best month for two years during July, with output and hiring rising and optimism building after Prime Minister Keir Starmer’s landslide election victory, a survey showed on Thursday. The S&P Global UK Manufacturing Purchasing Managers’ Index rose to 52.1 from 50.9, its highest reading since July …
UK manufacturers show fresh signs of life after election, PMI shows Read More »
By Jonathan Stempel (Reuters) – CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers. In a proposed class action filed on Tuesday night in the Austin, Texas federal court, shareholders …
CrowdStrike is sued by shareholders over huge software outage Read More »
By Max A. Cherney -Chip designer Arm Holdings on Wednesday set a revenue forecast in line with Wall Street targets, disappointing investors used to rosier outlooks by the company’s rivals in the era of artificial intelligence. Shares fell 9% after hours. They had climbed more than 90% this year, and closed up 8.4% on Wednesday, …
Arm Holdings outlook disappoints Wall Street, shares dive 9% Read More »
By Katie Paul and Yuvraj Malik (Reuters) -Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments. Shares of the company were up 4% after the bell. …
Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter Read More »
By Abhijith Ganapavaram and Allison Lampert (Reuters) -Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its CEO to turn around the struggling planemaker after a quarter where it lost more than $1 billion. Ortberg will start on Aug. 8 with the monumental task of rebuilding trust with regulators, the industry and the public …
Boeing names Kelly Ortberg CEO to steer turnaround as cash burn rises Read More »
MILAN (Reuters) – Italian app developer Bending Spoons has bought file-sharing platform WeTransfer, the companies said in a joint statement on Wednesday, as the Milan-based tech company presses ahead with a string of deals for software firms. The deal, for which financial details were not disclosed, is the fifth acquisition this year by Bending Spoons, …
Italy’s Bending Spoons buys file sharing service WeTransfer Read More »
MILAN (Reuters) – Telecom Italia (TIM) said its core earnings rose by 10% in the second quarter under a new structure which strips out the domestic network operations sold to U.S. investment firm KKR at the start of July. Earnings before interest, tax, depreciation and amortisation after lease costs (EBITDA-AL) generated by the business emerging …
Telecom Italia’s core profit rises 10% in Q2 after network spin-off Read More »
(Reuters) -Germany’s Daimler Truck said on Wednesday it has cut its full year revenue outlook to a range of 53 billion euros ($57.30 billion)to 57 billion euros. The truck maker had previously forecast revenue of 55 billion euros to 57 billion euros for the year. Daimler also slashed its outlook for unit sales to a …
