FRANKFURT (Reuters) – The euro zone’s current account surplus declined in November on lower primary income, which typically includes the flow of profits, wages, interest income and dividends into and out of the bloc, data from the European Central Bank showed on Thursday. Based on calendar and seasonally-adjusted figures, the surplus eased to 24.6 billion …
Euro zone current account surplus shrinks in Nov Read More »
By John Revill ZURICH (Reuters) -Cartier jewellery owner Richemont painted a mixed picture of the luxury sector in its latest results on Thursday, reporting a sales decline in Europe but a big increase in China. The Swiss-based company said sales in constant currencies, which remove foreign exchange fluctuations, fell 3% in Europe as higher sales …
Luxury group Richemont’s sales jump in China while Europe slips Read More »
MILAN (Reuters) – A large U.S. investment bank is considering building up a 10% stake in Italy’s Banca Popolare di Sondrio, Il Sole 24 Ore newspaper reported on Thursday, without citing sources or naming the investor. The move would also pave the way for the entry of UniCredit in the group’s shareholding, the newspaper said, …
US investment bank looking to build 10% stake in Italy’s Pop Sondrio – Il Sole 24 Ore Read More »
By Francesco Canepa FRANKFURT (Reuters) – Workers in Europe are hoping this year’s pay round will help restore incomes eroded by higher prices, but the expected boost to their purchasing power could hamper the European Central Bank’s efforts to bring inflation back to target. The ECB has singled out wages as the single biggest risk …
Analysis-ECB faces bumpy road to low inflation as wages rise Read More »
By David Shepardson WASHINGTON (Reuters) – The group representing major U.S. airlines on Wednesday urged the Biden administration to take swift action to address a long-standing air traffic controller shortage and out-of-date facilities and technology. Airlines for America CEO Nick Calio said “more urgency” is required to address the shortage in air traffic controllers that …
US airline group urges government action to address air traffic challenges Read More »
By Blake Brittain WASHINGTON (Reuters) -Apple cannot sell two flagship Apple Watch models in the U.S. as the iPhone maker fights a legal battle over patents covering a blood oxygen measurement feature, an appeals court ruled on Wednesday. The legal fight could take a year and analysts expect Apple to disable the disputed feature in …
US imports of some Apple Watches banned while patent case plays out Read More »
(Reuters) -Pipeline and terminal operator Kinder Morgan on Wednesday posted a lower-than-expected profit for the fourth quarter, as higher interest expenses and weakness in the natural gas pipeline segment hurt margins during the period. Shares of the company were down 1.2% at $17.3 in trading after the bell. The company posted an adjusted profit of …
Kinder Morgan misses fourth-quarter profit estimates Read More »
By Noel Randewich and Johann M Cherian (Reuters) -Wall Street stocks finished lower on Wednesday after upbeat December U.S. retail sales data eroded expectations the Federal Reserve will kick off its rate-cut campaign as early as March. The benchmark S&P 500 fell to its lowest in over a week. Amazon, Nvidia and Alphabet dipped between …
Wall Street ends down as US retail sales data crimps rate cut bets Read More »
By Chibuike Oguh NEW YORK (Reuters) -Several large U.S. regional banks reported lower profits on Wednesday, in a further sign that the income boost from interest rate hikes by the Federal Reserve is starting to wane. Charles Schwab, Citizens Financial and US Bancorp said that, along with one-off charges, the rising cost of retaining customer …
US bank profits fall as competition for deposits erodes lending margins Read More »
(Reuters) – Google on Wednesday rolled out an AI-powered feature in the United States that will allow users to search with an image and text simultaneously using their mobile phones. Users of smartphones such as Pixel 8, Pixel 8 Pro and the new Samsung Galaxy S24 series would be able to use multisearch with gestures …
