Reuters UK Business

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 …

Daimler Truck cuts full-year revenue outlook Read More »

By Yadarisa Shabong and Maggie Fick (Reuters) -British drugmaker GSK cut its forecast for 2024 vaccine sales on Wednesday after quarterly revenue from its blockbuster shingles and respiratory syncytial virus (RSV) jabs missed expectations, sending its shares lower. CEO Emma Walmsley’s bet on infectious disease drugs and vaccines, including new blockbuster respiratory syncytial virus (RSV) …

GSK shares fall after sales of top two vaccines disappoint Read More »

ZURICH (Reuters) -Swiss Re announced a new Group Chief Financial Officer on Wednesday, saying Anders Malmstrom will replace John Dacey when the 64-year-old retires next year. The move is the first major management change at Swiss Re, the world’s second biggest reinsurance company, since Andreas Berger took charge on July 1. Malmstrom will join Swiss …

Swiss Re picks outsider as next CFO Read More »

By John Revill ZURICH (Reuters) -The Swiss National Bank reported the biggest half-year profit in its 117-year history on Wednesday, as big gains in the first three months of the year far outstripped losses recorded in the second quarter. The profit of 56.8 billion Swiss francs ($64.48 billion) was boosted by valuation gains, as well …

Swiss central bank posts record half year profit Read More »

ROME (Reuters) – Italian EU-harmonised consumer prices (HICP) fell a preliminary 0.8% month-on-month in July, with annual inflation accelerating to 1.7% from 0.9% in June, data showed on Wednesday. The 1.7% annual rate was the highest since last October. The HICP was above the median forecast of a 1.2% year-on-year rise, in a Reuters survey …

Italy July EU-harmonised CPI rises to 1.7% y/y, well above forecasts Read More »