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Corning faces EU antitrust probe over exclusive supply deals with phone makers

6 Nov 2024

By Foo Yun Chee BRUSSELS (Reuters) -Corning faces an EU antitrust investigation over exclusive supply deals with mobile phone makers and raw glass processing companies that may exclude rival glass producers from large segments of the market, regulators said on Wednesday. The U.S. company, which sells a break resistant glass used as a cover for …

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M&S and Wetherspoons face multi-million pound hit from ‘double whammy’ budget

6 Nov 2024

By James Davey and Yamini Kalia LONDON (Reuters) – Marks & Spencer and JD Wetherspoon, two of Britain’s biggest high street employers, said higher taxes and a jump in the minimum wage would cost them a combined 180 million pounds ($232 million) annually. Britain said last month it would raise employers’ National Insurance (NI) social …

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Credit Agricole’s shares fall as Q3 revenue misses forecasts

6 Nov 2024

By Mathieu Rosemain PARIS (Reuters) – Credit Agricole SA shares fell nearly 6% after the French bank reported mixed quarterly results, marked by record investment banking sales, a slightly smaller-than-expected drop in earnings and a surprise fall in insurance revenues. Bank-wide third-quarter revenue also missed estimates, dragged down by its consumer finance and insurance businesses. …

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Russia’s grain policies help Ukraine secure sales

6 Nov 2024

By Michael Hogan and Mohamed Ezz HAMBURG/CAIRO (Reuters) – Russia’s curbs on wheat exports have inadvertently helped Ukraine secure lucrative sales to Egypt this week while also inflating prices for the world’s top importer, traders said. Egypt’s state grains buyer GASC bought 290,000 metric tons of wheat in an international tender on Monday. The purchase …

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Novo Nordisk CEO on Wegovy prices, supplies and compounding

6 Nov 2024

LONDON (Reuters) – Novo Nordisk reported forecast-beating quarterly sales of its popular Wegovy weight-loss drug on Wednesday, sending its shares up nearly 9%. Below are highlights of comments by CEO Lars Fruergaard Jorgensen in an interview with Reuters: CONFIRMS THE COMPANY HAS LIFTED US CURBS ON LOWER DOSES OF WEGOVY IN PLACE SINCE MID-2023: “In …

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German retailers expect higher revenues this Christmas season, HDE forecasts

6 Nov 2024

BERLIN (Reuters) – The German retail sector is expecting a slight increase in sales this Christmas season compared with the previous year, the German Retail Association (HDE) said on Wednesday. Revenue in November and December is expected to grow by 1.3% compared to the same period last year to a total of 121.4 billion euros …

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Pub group Wetherspoons says UK budget to raise costs by $77 million

6 Nov 2024

By Yamini Kalia (Reuters) -Pub group J D Wetherspoon said on Wednesday that measures in Britain’s recent budget would increase its taxes and business costs by 60 million pounds ($77.12 million) for its current year, but it had no immediate plans to raise prices. The British pub chain often referred to as “Spoons” said that …

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Solvay says cost savings will limit 2024 profit decline closer to 10%

6 Nov 2024

By Dimitri Rhodes (Reuters) – Belgian chemicals group Solvay said on Wednesday it expected its 2024 core profit decline to be closer to 10%, at the positive end of its earlier guidance range, as its cost cutting measures yield results faster than anticipated. Solvay has been cutting costs due to soft demand and a volatile …

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