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(Reuters) -Beyond Meat on Wednesday missed Wall Street estimates for quarterly revenue as consumers trade down to cheaper alternatives from its pricier plant-based meat products in the face of decades-high inflation. In October, Beyond Meat had cut its full-year revenue forecast saying that it was seeing demand soften due to inflation, specifically in its refrigerated …

Beyond Meat misses quarterly revenue estimates on slowdown in faux meat demand Read More »

(Reuters) – Rivian Automotive Inc reported quarterly revenue below Wall Street estimates on Wednesday, as supply chain snarls continue to limit the company’s ability to produce electric vehicles that are in high demand. Supply chain disruptions have pressured Rivian, forcing the company earlier this year to cut production forecast by half to 25,000 units, which …

Rivian misses quarterly revenue estimates Read More »

(Reuters) – Online dating firm Bumble Inc on Wednesday forecast fourth-quarter revenue below market estimates as it grapples with a strong U.S. dollar, stiff competition and the effect of inflation on consumer spending. The company expects current-quarter revenue between $232 million and $237 million, compared to Wall Street’s estimates of $254.5 million, according to Refinitiv …

Bumble forecasts fourth-quarter revenue below estimates Read More »

SHARM EL-SHEIKH (Reuters) – About half of the World Bank’s $32 billion of climate financing is for adaptation to climate change, the body’s president David Malpass said on Wednesday during the COP27 climate conference in Egypt. “As we go forward we need to build those efforts but also bring more donors into adaptation,” Malpass said. …

COP27 – World Bank’s Malpass: Half of World Bank’s climate finance is for adaptation Read More »

By Giulio Piovaccari MILAN (Reuters) -Truck maker Iveco Group said on Wednesday pricing power would offset higher raw material and energy costs as it raised its forecasts for this year’s revenues, operating profit and cash generation. The Italian manufacturer said that its consolidated adjusted earnings before interest and tax (EBIT) would come in at between …

Iveco Group relies on strong pricing as the truckmaker lifts FY forecasts Read More »

MOSCOW (Reuters) – Russia’s government has submitted a draft law to parliament that would extend the central bank’s right to sell bailed-out lender Otkritie to Russia’s no. 2 bank VTB without a tender for another year. The bill, published on the State Duma’s online portal on Wednesday, would give the banks and the regulator until …

Russia to give central bank more time to complete Otkritie sale Read More »

By Rachel More BERLIN (Reuters) -Adidas further slashed its outlook for 2022 on Wednesday as it weighed the impact of its split from Ye, the rapper formerly known as Kanye West, while sluggish demand in China continued to impact sales. Adidas now expects its currency-neutral revenue to grow at a low-single-digit rate in 2022, down …

Adidas slashes 2022 outlook after Kanye West split Read More »

By Diana Mandia (Reuters) -Ahold Delhaize on Wednesday reported third quarter earnings that beat analyst estimates and raised its full year earnings forecast for the third time this year, citing strong U.S. sales and margins. Ahold, which operates in the U.S. and Europe and has 19 brands including Stop & Shop, Giant, Food Lion and …

Supermarket operator Ahold hikes 2022 earnings outlook again Read More »