Reuters US Business

By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Wednesday posted a lower-than-expected quarterly profit, its first without U.S. aid since the pandemic began, as booming travel demand failed to offset higher operating costs, sparking a sell-off in its shares. The Chicago-based carrier reported an adjusted profit of $1.43 per share for the quarter …

United Airlines earnings disappoint as operating costs bite Read More »

By Julie Gordon OTTAWA (Reuters) – Inflation in Canada picked up speed again in June with prices rising at their fastest pace since January 1983, official data showed on Wednesday, but the rise was not as steep as forecast, leaving analysts unsure about how forcefully the Bank of Canada would respond. Canada’s annual inflation rate …

Canada’s inflation rate accelerates again, but not as sharply as forecast Read More »

(Reuters) – Ford Motor Co is preparing to cut up to 8,000 jobs in the coming weeks in a bid to reduce costs and intensify its focus on electric vehicles, Bloomberg News reported on Wednesday, citing people familiar with the matter. The cuts are expected in Ford’s salaried workforce, as well as the Ford Blue …

Ford plans to cut up to 8,000 jobs – Bloomberg News Read More »

By Echo Wang (Reuters) – U.S. stocks ended higher on Wednesday with the tech-heavy Nasdaq booking a 1.6 % gain on positive earnings signals with a wary eye on inflation and more interest rate hikes by the Fed. Netflix Inc’s shares added 7.4% after the company predicted it would return to customer growth during the …

Wall Street closes higher boosted by tech stocks gains on upbeat earnings Read More »

(Reuters) -The head of Embraer’s planemaking unit said on Wednesday it expects to select an engine in the fourth quarter for a potential new turboprop plane that the Brazilian company expects to launch in early to mid-2023. Embraer Commercial Aviation Chief Executive Arjan Meijer said the company is talking to Raytheon Technologies unit Pratt & …

Embraer expects to select engine in Q4 for potential turboprop launch in 2023 Read More »

By Valentine Baldassari and Elitsa Gadeva (Reuters) -Post-lockdown travelling in Europe and COVID-19 resurgence in China weighed on Akzo Nobel’s second-quarter earnings, the Dulux paint maker said on Wednesday, dismissing higher prices as the reason for slowing demand. Demand in China took a hit from coronavirus restrictions, while sales in Europe were weaker due to …

Akzo Nobel takes hit from weak demand in Europe, China Read More »

(Reuters) – Russian car manufacturer Avtovaz said on Wednesday that it is preparing to launch a limited new batch of the Lada Largus model, after Western sanctions imposed after Russia’s invasion of Ukraine brought production lines to a halt. Avtovaz employs more than 30,000 people in Russia, including at its flagship plant at Tolyatti on …

Russia’s Avtovaz to relaunch Lada Largus production Read More »

(This July 18 story, refiles to correct spelling of name in paragraph 7) MEXICO CITY (Reuters) – Mexico’s tech startups may be enjoying a boom, but its top stars are unlikely to list on the country’s own stock market, the national exchange’s chief executive told Reuters in an interview last week. Mexican startups like Stori …

Mexico’s unicorns unlikely to IPO locally, says Mexican exchange CEO Read More »