NEW YORK (Reuters) – A group of five governors on Tuesday urged PJM Interconnection, the largest U.S. grid operator, to change the process it uses to determine the price paid to power plants after record-high prices awarded in its last auction. The most recent PJM capacity auction resulted in prices that were nearly 10 times …
US governors push back on PJM after record-high power plant prices Read More »
By Curtis Williams HOUSTON (Reuters) – U.S. exporters of liquefied natural gas (LNG) could face new hurdles if Republican Donald Trump wins the presidential election because of a proposed 60% tariff on imports from China, despite the former president’s pledge to speed new energy permits, say analysts. The U.S. became the world’s largest exporter of …
US LNG export gains at risk if Trump wins election and boosts tariffs, analysts say Read More »
MILAN (Reuters) -Third-quarter net revenues for Prada rose 17.7% at constant exchange rates, driven by double-digit retail sales growth in Asia and Europe and the doubling of sales at the smaller Miu Miu brand, the Italian luxury group said on Wednesday. Sales in the Asia Pacific region, in the spotlight as investors are concerned about …
Prada’s third quarter revenues rise 18%, Miu Miu sales double Read More »
By Karl Plume, Mrinalika Roy (Reuters) -Bunge exceeded Wall Street expectations for third-quarter profit on Wednesday as large global harvests provided the grain trader and processor enough volumes of soy, corn and other crops to blunt a hit from lower margins. The global grains merchant had expected a profit lift from a spike in crop …
Bunge profit tops estimates on grain, oilseed volumes; 2024 outlook intact Read More »
(Reuters) – Contracts to buy U.S. previously owned homes jumped by the most in more than four years in September on a mix of more attractive interest rates and improving inventory of properties for sale. The National Association of Realtors (NAR) said on Wednesday its Pending Home Sales Index, based on signed contracts, rose 7.4% …
US pending home sales jump the most in more than four years, NAR says Read More »
By Savyata Mishra (Reuters) -Kraft Heinz on Wednesday tempered its annual forecasts for organic sales and profit as repeated price hikes hurt demand for the packaged food giant’s branded products such as Lunchables meal kits. Shares of the Jell-O maker fell more than 3% in early trading, as it also posted a bigger-than-expected drop in …
Kraft Heinz trims 2024 forecasts on Lunchables drag, tepid demand Read More »
By Deborah Mary Sophia (Reuters) -Google-parent Alphabet’s breakout cloud sales in the July-September quarter bode well for top cloud providers Microsoft and Amazon.com, and signal that market for AI-aided computing power is only growing. The company’s stock rose 5.5% on Wednesday, a day after Alphabet posted a 35% surge in Google Cloud revenue, the fastest …
Google’s AI-fueled gains in cloud bode well for Amazon, Microsoft Read More »
(Reuters) – Martin Marietta cut its annual sales forecast and reported lower quarterly results on Wednesday, after the building material supplier’s operations were hit by storms and extreme weather conditions. The company said its operations in the quarter were hit by rains in July, Tropical Storm Debby in North Carolina and hurricanes Beryl and Helene …
Martin Marietta cuts annual sales forecast as storms hit operations Read More »
WASHINGTON (Reuters) – U.S. private payrolls growth surged in October, despite fears of temporary disruptions from hurricanes and strikes. Private payrolls increased by 233,000 jobs last month after rising by an upwardly revised 159,000 in September, the ADP National Employment Report showed on Wednesday. Economists polled by Reuters had forecast private employment increasing by 114,000 …
(Reuters) – GE HealthCare Technologies beat estimates for quarterly profit on Wednesday as strong demand for its medical devices in the U.S. offset slowing sales in China due to disruptions in the country’s healthcare sector because of an anti-corruption drive. The company also raised the lower end of its annual adjusted profit forecast to $4.25 …
GE HealthCare beats Q3 profit estimates on U.S. demand for medical devices Read More »
