Reuters UK Business

By Bhanvi Satija and Michael Erman (Reuters) -Drugmaker Pfizer posted a better-than-expected fourth-quarter profit on Thursday, helped by cost cuts it began last year as it aims to show investors steadier execution and growth after large swings related to its COVID-19 vaccine. Its COVID-19 vaccine, once a nearly $38 billion a year product, brought in …

Pfizer shows profit growth from cost cuts and steadier COVID sales Read More »

By Mariam Sunny (Reuters) -Shares of genetic testing company Illumina and Calvin Klein-owner PVH Corp fell on Tuesday after China placed the two companies on its “unreliable entity” list, putting them at risk of sanctions. Companies added to the blacklist can be subject to fines and other sanctions, including a freeze on trade and a …

Illumina, PVH shares drop as China threatens companies with sanctions Read More »

(Reuters) -British stocks fell for a second straight day on Tuesday but the indexes ended well off their lows after U.S. President Donald Trump said he would speak with Chinese President Xi Jinping, sparking hopes of a de-escalation in the trade war. The FTSE 100 ended 0.1% lower after falling as much as 0.7%. The …

British stocks slip for second straight day on trade war jitters Read More »

By Giulio Piovaccari and Keith Weir MILAN (Reuters) -Ferrari is preparing the landmark launch of its first fully electric car in October, the luxury sports car maker said on Tuesday, while targeting an increase of at least 5% in revenues and core earnings this year. Breaking its tradition for roaring petrol engines, Ferrari’s much-awaited EV …

Ferrari plans electric car debut in Italy this October Read More »

LONDON (Reuters) – Diageo estimates its operating profit could be dented by roughly $200 million if U.S. tariffs on Mexico and Canada are implemented in March, its finance chief Nik Jhangiani said on Tuesday, adding it had strategies to offset the impact. The world’s leading spirits maker generates around 45% of sales in the United …

Tariffs could deal $200 million blow to Diageo in second half Read More »

By Emma Rumney, Yadarisa Shabong and Stine Jacobsen (Reuters) -Diageo warned on Tuesday of a $200 million hit to its operating profits from U.S. tariffs on Mexican and Canadian imports and German auto supplier ZF flagged price hikes, as companies start counting the likely costs of Donald Trump’s trade measures. U.S. President Trump said at …

Companies start counting potential costs of Trump’s tariffs Read More »

BEIJING (Reuters) -China announced a wide range of measures on Tuesday targeting U.S. businesses including Google, farm equipment makers and the owner of fashion brand Calvin Klein, minutes after new U.S. tariffs on Chinese goods took effect. Beijing also slapped tariffs on U.S. products such as coal, oil and some autos in a rapid response …

China announces measures against Google, other US firms, as trade tensions escalate Read More »

By Anuja Bharat Mistry (Reuters) -Estee Lauder on Tuesday expanded a restructuring plan that would now involve up to 7,000 job cuts as the cosmetics giant grapples with persistent demand weakness especially in Asia, sending its shares down 19%. The company now expects third-quarter profit to come well below expectations, citing challenges in its Asia …

Estee Lauder plans more job cuts as weak Q3 forecast sends shares plummeting Read More »