By Sheila Dang (Reuters) – Investors appear to be losing patience with Big Tech’s prodigious artificial intelligence investments this week after Meta Platforms signaled deeper spending and a long road to profitability. The concession from Meta in its quarterly report late on Wednesday cast a cloud over Microsoft and Alphabet, which will both report quarterly …
AI spending worries cast gloom over Alphabet, Microsoft Read More »
By Richa Naidu and Agata Rybska LONDON (Reuters) -From Nestle to Danone, food companies are seeing shoppers that want either premium or cheaper products, with less interest in items in the middle, particularly in developed markets like North America. The packaged goods industry has for over two years hit shoppers with higher prices, citing higher …
Consumer gulf widens as demand for premium and budget foods grows Read More »
(Reuters) – UK-listed drugmaker Indivior plans to seek shareholder approval next month for a primary listing in the United States, the company said on Thursday, which would add it to a growing list of firms leaving the London stock market. Indivior had, in February, announced its intent to shift its listing by the middle of …
UK-listed drugmaker Indivior seeks shareholder nod for US listing Read More »
LONDON (Reuters) – Sainsbury’s, Britain’s second largest supermarket group, expects food inflation to remain in “low single digits” in 2024, its boss said on Thursday. British food inflation leapt to a 45-year high of 19.2% in March 2023 on surging energy costs, labour shortages and disruption to Ukrainian exports, but it fell to 4% in …
UK food inflation to be ‘low single digits’ through 2024, says Sainsbury’s boss Read More »
By Huw Jones LONDON (Reuters) – London Stock Exchange Group said on Thursday its first quarter growth was in line with plans for the roll out of products from its partnership with Microsoft, although the bourse’s shares briefly hit a five-month low. LSEG was “confident of continued growth and improving profitability”, adding that it was …
LSEG reports in-line first quarter as Microsoft partnership progresses Read More »
By Katie Paul and Yuvraj Malik (Reuters) – Meta Platforms disappointed investors on Wednesday with forecasts of higher expenses and lighter than expected revenue, sending its shares tumbling as it races to catch up in AI. Shares of the Facebook and Instagram parent dropped about 13% in extended trade following the report, evaporating $160 billion …
Meta forecasts higher AI spending and weaker revenue Read More »
By Nora Eckert (Reuters) -Ford Motor Co posted first-quarter earnings on Wednesday that beat Wall Street’s expectations, bolstered by a strong performance in its commercial vehicle division and an increase in its hybrid vehicle sales. The company said it expects to achieve the higher end of its projected annual guidance of $10 billion to $12 …
Ford profit tops expectations on strong commercial, hybrid sales Read More »
By Kate Abnett BRUSSELS (Reuters) – The European Parliament approved a proposed law on Wednesday that would ban certain single-use plastic packaging like mini shampoo bottles in hotels and thin plastic bags for groceries, in an attempt to curb the rising tide of packaging waste. WHY IT’S IMPORTANT The European Union policy – which still …
EU Parliament backs clampdown on single-use plastic packaging Read More »
By Jonathan Stempel (Reuters) – A new lawsuit by U.S. hedge fund Appaloosa LP accuses the former Credit Suisse of misleading investors about its health before $17 billion of its bonds were written down to zero in a government-orchestrated rescue by Swiss rival UBS. In a complaint filed on Tuesday in the Newark, New Jersey …
UBS faces new lawsuit by Appaloosa over Credit Suisse $17 billion bond wipeout Read More »
By Abhijith Ganapavaram and Allison Lampert (Reuters) -Boeing on Wednesday reported its first quarterly revenue drop in seven quarters, but the U.S. planemaker beat analyst expectations that were lowered after a January mid-air blowout of a door plug prompted it to slow production of its strongest-selling jets. After the report, Boeing CEO Dave Calhoun told …
Boeing reports first revenue drop in 7 quarters as deliveries decline Read More »
