By Victoria Waldersee BERLIN (Reuters) – Mercedes-Benz said a “brutal” electric vehicle market of heavy price cuts and supply chain issues meant it would likely hit the lower end of its 12-14% adjusted return on sales forecast for the cars division, as third-quarter earnings fell. The luxury carmaker said it remained committed to its EV …
Mercedes says ‘brutal’ EV market will pressure car sales margins Read More »
MEXICO CITY (Reuters) -Walmart’s Mexico unit on Wednesday posted a 12.2% year-on-year jump in its third-quarter net profit, driven mainly by stronger sales. Walmart de Mexico, the biggest retailer in Mexico, posted net profit of 13.63 billion pesos ($782 million). Quarterly revenue at the chain rose 7.7% from the year-earlier period to reach 213.07 billion …
By Chavi Mehta (Reuters) – IT software and consultancy services provider IBM reported third-quarter revenue and profit above Wall Street targets on Wednesday, buoyed by stable demand for its software solutions. Shares of the Armonk, New York-based company rose 2% in trading after the bell. IBM, like the rest of the IT services industry, is …
IBM’s third-quarter results beat estimates on resilient software demand Read More »
(Reuters) -Global sports and entertainment giant Endeavor Group Holdings said on Wednesday it has begun a formal review to evaluate strategic alternatives for the company, but would not consider the sale or disposition of its majority interest in TKO Group Holdings, which includes Ultimate Fighting Championship. Shares of Endeavor were up 9% in extended trading. …
Entertainment giant Endeavor announces review of strategic options Read More »
(Reuters) -Mattel smashed third-quarter results estimates on Wednesday and lifted its annual earnings forecast ahead of the key holiday season, as the toymaker benefited from the box-office success of the “Barbie” movie. However, shares of the company were down about 6% in extended trade, after gross billings in its American Girl segment dropped 13% in …
‘Barbie’ boom drives up Mattel’s profit target, sales Read More »
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -Sam Bankman-Fried plans to testify in his own defense at his criminal fraud trial, after his closest associates blamed the former billionaire for the collapse last November of his now-bankrupt FTX cryptocurrency exchange. In a Wednesday telephone conference with U.S. District Judge Lewis Kaplan, who oversees …
Bankman-Fried to testify in fraud trial after ex-colleagues turned on him Read More »
(Reuters) – Australian lender Westpac Banking Corp said on Thursday it expects its net profit after tax in fiscal 2023 to decline by A$173 million ($109.11 million) due to certain one-off items, including the sale of its asset management business and write-down of assets. The bank sees an increase in provisions for customer refunds and …
Australia’s Westpac sees lower profit in fiscal 2023 as one-off costs bite Read More »
(Reuters) – Southwest Airlines said on Wednesday it has reached a tentative agreement with the Transport Workers Union Local 556, representing nearly 19,000 flight attendants. The union would communicate details about the agreement and the voting timeline directly to its members, the company said. In the past two years, unions across the aerospace, construction, airline …
Southwest Airlines reaches tentative deal with union representing 19,000 attendants Read More »
LOS ANGELES (Reuters) -FedEx Corp on Wednesday said its U.S. Express deliveries could be delayed due to an overnight Federal Aviation Administration (FAA) information technology system outage that the regulatory agency said has been resolved. FedEx’s signature Express service uses planes to provide overnight deliveries. The company said shipments delayed due to the outage are …
FedEx says U.S. Express service disrupted, blames FAA IT outage overnight Read More »
(Reuters) – Equipment rental company United Rentals on Wednesday beat estimates for third-quarter profit on strong demand for industrial tools as spending on infrastructure and construction projects ramped up. Demand for industrial equipment has been improving as the United States upgrades roads, railways, and other transportation infrastructure under the Biden Administration’s $1 trillion package that …
United Rentals beats profit estimates on strong equipment demand Read More »
