(Reuters) -The U.S. Federal Reserve on Wednesday delivered its second straight 75 basis point rate hike, reinforcing its commitment to contain red-hot inflation. Policymakers said inflation “remains elevated” while also noting that “recent indicators of spending and production have softened,” a sign that the aggressive set of rate hikes they have put in place since …
U.S. Federal Reserve delivers second super-sized rate hike Read More »
By Ludwig Burger and Riham Alkousaa (Reuters) -Shares in the world’s largest kidney dialysis provider Fresenius Medical Care (FMC) plunged more than 12% to a 12-year low after it cut its earnings outlook as costs surge and a U.S. staff shortage leaves it scrambling for nurses. In an unscheduled statement late on Wednesday, FMC flagged …
Fresenius Medical shares at 12-yr low as labour costs weigh on profit Read More »
SAO PAULO (Reuters) – Banco Santander Brasil SA’s second-quarter net income beat market expectations but loan-loss provisions rose sharply against a challenging macroeconomic backdrop, data released on Thursday showed. Net profit rose 2% from the previous quarter to a better than expected 4.08 billion reais ($778.08 million), as analysts polled by Refinitiv had forecast the …
Santander Brasil beats net profit forecasts but raises loan-loss provisions Read More »
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – A first read on U.S. economic growth last quarter, due out Thursday, will amplify an ongoing debate over whether the country is, or will soon be, in recession. Most economists polled by Reuters expect U.S. gross domestic product grew, if slowly, in the three months from …
Is the U.S. in a recession? Fresh GDP data to amplify debate Read More »
By Philip Blenkinsop BRUSSELS (Reuters) -Anheuser-Busch InBev, the world’s largest brewer, reported higher than expected second-quarter earnings on Thursday as its Latin American consumers drank more and it pushed through higher prices globally. The brewer of Budweiser, Corona and Stella Artois said core profit – earnings before interest, tax, depreciation and amortisation – rose 7.2% …
AB InBev boosts profit on higher prices, Latam consumers Read More »
By David Shepardson and Patricia Zengerle WASHINGTON (Reuters) -The U.S. Senate on Wednesday passed sweeping legislation to subsidize the domestic semiconductor industry, hoping to boost companies as they compete with China and alleviate a persistent shortage that has affected everything from cars, weapons, washing machines and video games. The House of Representatives plans to vote …
U.S. Senate passes bill to boost chip manufacturing, compete with China Read More »
(Reuters) -Best Buy on Wednesday forecast a bigger drop in annual sales than previously estimated, in another sign that consumers are feeling the pressure of decades-high inflation and curbing spending on discretionary items such as computers and TVs. Shares in the electronics retailer dropped 3% in extended trading, after Best Buy also forecast a 13% …
Best Buy forecasts steeper sales drop as inflation dents demand Read More »
By Anirban Sen and Greg Roumeliotis (Reuters) -Spirit Airlines Inc cancelled its $2.7 billion sale to Frontier Group Holdings Inc on Wednesday after Spirit shareholders balked at supporting it, leaving JetBlue Airways Corp with an opening to clinch a deal. The development, first reported by Reuters earlier on Wednesday, came after Spirit pushed back a …
Spirit ends deal with Frontier as JetBlue talks continue Read More »
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Wednesday charged banking firms JPMorgan and UBS and online broker TradeStation over deficiencies relating to the prevention of customer identity theft. Without admitting or denying the SEC’s findings, each firm agreed to pay the following penalties: JPMorgan $1.2 million, UBS $925,000, and TradeStation $425,000, the …
WASHINGTON (Reuters) – The United States is not currently in a recession or in a “pre-recession,” the White House said on Wednesday as the Federal Reserve Board raised interest rates to try to fight inflation. White House press secretary Karine Jean-Pierre declined to comment on Fed monetary policy after the Fed raised rates by three …
US is not in recession or pre-recession – White House Read More »
