Reuters US Business

By Tom Sims and Unknown 9629b5b2-3983-43b7-ac6e-49eba7f61a04 FRANKFURT (Reuters) -Germany’s Commerzbank said on Wednesday its net profit fell by 52% in the third quarter in a better-than-expected outcome helped by higher interest rates, though previously flagged problems at a Polish unit weighed. The lender also maintained its profit outlook for the full year even as its …

Commerzbank keeps outlook as lower Q3 profit still beats expectations Read More »

(Reuters) – News Corp missed Wall Street estimates for first-quarter revenue on Tuesday, as a prolonged weakness in the advertising market pressured sales at key news, online and streaming properties. Revenue fell 1% to $2.48 billion in the quarter ended Sept. 30. Analysts polled by Refinitiv were expecting $2.50 billion. (Reporting by Yuvraj Malik in …

News Corp misses quarterly revenue estimates Read More »

(Reuters) – AMC Entertainment Holdings Inc beat Wall Street estimates for third-quarter revenue on Tuesday as a sustained boost from movies such as “Top Gun: Maverick” and new releases including “Thor: Love and Thunder” drew more footfall to cinema halls. Adjusted revenue during the quarter ended Sept. 30 was $1.01 billion. Analysts on average had …

AMC Entertainment beats quarterly revenue estimates Read More »

(Reuters) -Lucid Group Inc reported a bigger third-quarter loss on Tuesday, as the luxury electric vehicle maker struggled with rising costs to ramp up production. The company’s shares, which have fallen 64% so far this year, lost about 4% in trading after the bell. Supply chain snarls have crimped its production, forcing it to cut …

EV maker Lucid reports bigger quarterly loss Read More »

(Reuters) – XP Inc posted a jump in third-quarter profit on Tuesday, as client assets at the Brazilian broker accelerated and helped offset weaker net inflows due to higher interest rates. Last month, Brazil’s central bank held its key interest rate steady for the second straight policy meeting and warned inflation was still running high …

Brazilian broker XP’s profit gains from higher client assets Read More »

By Noel Randewich and David Carnevali (Reuters) – Wall Street ended higher on Tuesday during voting in midterm elections that will determine control of the U.S. Congress, with investors betting on a political stalemate that could prevent major policy changes. It was the third straight day of gains on the U.S. stock market, leaving the Dow …

Wall Street ends higher as investors eye U.S. midterms Read More »

By Katie Paul and Sheila Dang (Reuters) -Election experts reported new conspiracy theories spreading across Twitter and other social media platforms as Americans headed to the polls on Tuesday, days after Twitter Inc fired half its staff and new owner Elon Musk tweeted a recommendation to vote for Republican candidates. Discussion on Twitter included posts …

Musk’s Twitter faces fresh conspiracy theories during U.S. midterms vote – experts Read More »

WASHINGTON (Reuters) – The U.S. Treasury has broadened its justification for sanctioning virtual currency mixing service Tornado Cash on allegations it supports North Korea, despite criticism from users that the Treasury is targeting a service and not an organization. In a press release, the Treasury said its Office of Foreign Asset Control had “delisted and …

U.S. changes sanction reasons on virtual currency service Tornado Cash Read More »

By Sarah Wu TAIPEI (Reuters) – Foxconn-led electric vehicle consortium MIH announced plans on Tuesday for its first car, a boxy single row three-seater which it hopes will be popular with one-child families in Asia. Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, has ramped up investment in EVs and semiconductors in recent years, announcing …

Foxconn electric vehicle alliance plans boxy three-seater Read More »