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(Reuters) – HP Inc on Tuesday reported the steepest fall in quarterly revenue since 2016 and missed analysts’ estimates, hit by delayed computer and printer upgrades by customers in the face of high inflation and economic uncertainty. Rising costs, tepid consumer spending and recessionary fears have pummeled several sectors across major markets including the United …

HP misses first-quarter revenue estimates as PC market recovery eludes  Read More »

(Reuters) – Rivian Automotive Inc on Tuesday forecast 2023 production well below analysts’ estimates as it grapples with lingering supply chain bottlenecks, and announced a recall of more than 12,700 vehicles. Rivian said its recall announcement, its third since going public in Nov. 2021, was due to an issue with a sensor in the front …

Rivian sees 2023 production well below estimates, recalls over 12,700 vehicles Read More »

By Brendan O’Boyle MEXICO CITY (Reuters) – Electric car maker Tesla Inc has chosen the northern Mexican state of Nuevo Leon as the site for its first plant in the country, Mexican President Andres Manuel Lopez Obrador said on Tuesday. The announcement followed months of speculation over the global auto giant’s plans for a “gigafactory” …

The road to Tesla’s first Mexico factory Read More »

By Dave Graham and Daina Beth Solomon MEXICO CITY (Reuters) -Tesla Inc will build a new assembly plant in northern Mexico, the country’s president said on Tuesday, marking a push by the electric vehicle maker to broaden operations outside the U.S. in a deal said by a source to be worth at least $1 billion. …

Tesla to build new plant in Mexico said to be worth at least $1 billion Read More »

By Aziz El Yaakoubi and Hadeel Al Sayegh RIYADH/DUBAI (Reuters) -Saudi Basic Industries Corp (SABIC), one of the world’s biggest petrochemical companies, said on Tuesday its fourth-quarter net profit slumped 94% on lower average sales prices. The company posted a net income of 290 million riyals ($77.28 million) in the three-month period ended Dec. 31, …

SABIC’s quarterly profit slumps 94% on lower sales prices Read More »

By Dominique Vidalon PARIS (Reuters) -French retailer Casino vowed on Tuesday to spend more on promotions this quarter to help cash-strapped shoppers after sales at its Geant hypermarkets in France fell sharply in the fourth quarter of 2022 amid competitive pressure. Overall group sales growth slowed in the fourth quarter despite a robust performance in …

Casino to step up promotions as cost of living crisis weighs on French sales Read More »

By Ludwig Burger FRANKFURT (Reuters) -Agriculture and healthcare company Bayer said operating earnings would likely decline in 2023, hurt by higher costs and the reversal of last year’s price boost for its glyphosate-based weedkillers. The downbeat outlook, which triggered a 1% fall in the stock in premarket trade, comes after a new chief executive was …

Bayer sees lower 2023 operating profit on cost inflation Read More »

By Hilary Russ NEW YORK (Reuters) – Proxy adviser Institutional Shareholder Services Inc (ISS) on Monday recommended that Starbucks shareholders back a proposal for an outside examination of the coffee chain’s labor policies in light of its response to union organizing at hundreds of U.S. cafes. Investors are slated to vote on a number of …

ISS urges Starbucks shareholders back review of labor policies Read More »