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FRANKFURT (Reuters) – Euro zone consumers stopped reducing their inflation expectations in June after four consecutive monthly falls, a European Central Bank survey showed on Friday. The ECB’s Consumer Expectations Survey is one input that central bankers from the euro zone’s 20 countries use to gauge whether the public has faith in their ability to …

Euro zone consumers stopped lowering inflation expectations in June Read More »

By Nick Carey and Andrey Sychev (Reuters) -Mercedes-Benz lowered its annual profit margin forecast after weak second quarter sales and earnings on Friday but expects new models to help it battle stiff competition in China in the second half of the year. German automakers have been struggling with lacklustre demand for EVs, coupled with tough …

Under pressure in China, Mercedes trims profit outlook Read More »

(Reuters) – Videogame company Epic Games said on Thursday its popular title “Fortnite” will be returning to Apple’s iOS systems in the European Union soon. (Reporting by Arsheeya Bajwa in Bengaluru; Editing by Devika Syamnath)

By Svea Herbst-Bayliss (Reuters) -Bill Ackman said his new U.S. listed fund, Pershing Square USA, will be dramatically smaller than the $25 billion people initially said he could raise, citing investors’ general nervousness about the structure and how to invest the cash. Ackman told investors this week there will be a “hard cap on size …

Ackman cuts new fund’s target size, asks investors to commit Read More »

U.S. railroad operator Norfolk Southern reported second-quarter profit above Wall Street estimates thanks to robust pricing, sending its shares up nearly 7% on Thursday. Improving intermodal volumes coupled with higher-than-inflation pricing has helped railroads shield profitability even in an otherwise low-volume environment. On an adjusted basis, Norfolk Southern reported a profit of $3.06 per share, …

Norfolk Southern beats second-quarter profit estimates on higher pricing Read More »

By Granth Vanaik (Reuters) – Deckers Outdoor raised its annual profit forecast after beating first-quarter estimates on Thursday, betting on strong demand for the footwear and apparel firm’s Hoka sneakers and UGG boots. WHY IS IT IMPORTANT? Brands such as On Holding and Deckers are gaining popularity as their new and innovative products are attracting …

Deckers Outdoor raises FY profit target on strong Hoka, UGG demand Read More »

By Amanda Cooper and Naomi Rovnick LONDON (Reuters) -Investors are ditching some of this year’s favourite trades as a retreat in the glitzy megacaps risks snowballing into a multi-pronged selloff that has hit everything from cryptocurrency to gold, and made calling the market’s next move ever more complex. Shares on Wall Street ended lower on …

Investors recoil as this year’s ‘everything rally’ screeches to a halt Read More »

By David French (Reuters) -The S&P 500 and Nasdaq Composite ended a fickle session weaker on Thursday, failing to regain ground lost in the previous day’s tech-triggered sell-off as investors grappled with the likely direction of megacaps. The Dow Jones Industrial Average hung onto early gains to close higher on stronger-than-expected U.S. gross domestic product …

S&P, Nasdaq end lower in fickle trading, megacap trend uncertain Read More »