Reuters US Business

-Skippy peanut butter maker Hormel Foods forecast lower-than-expected profit for the ongoing quarter on Thursday, after missing third-quarter earnings estimates on higher commodity costs, sending its shares down about 7% in premarket trading. A surge in commodity input expenses have prompted packaged food companies such as Hormel to raise products prices. “We expect profit recovery …

Hormel Foods sees quarterly profit below estimates as commodity costs rise Read More »

(Reuters) -Bath & Body Works missed Wall Street estimates for second-quarter profit on Thursday, hurt by higher costs at a time when the retailer grapples with uncertain discretionary consumer spending. Shares of the beauty and skincare retailer slumped 6% in premarket trading. The company, which sells higher-priced offerings such as fragrances and scented candles, is …

Bath & Body Works posts quarterly profit miss as costs weigh Read More »

BERLIN (Reuters) -Volkswagen has extended its ‘factory cloud’ partnership with Amazon Web Services by another five years, the German carmaker said on Thursday, as it rolls out the use of artificial intelligence to improve production and reduce costs. The company partnered with the cloud computing services unit of Amazon.com to create a digital production platform, …

Volkswagen extends Amazon cloud partnership to save costs with AI Read More »

By Mike Dolan LONDON (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Sky-high expectations left Nvidia shares in the red overnight despite another earnings beat from the world’s most valuable company, as the market grumbled about slowing growth in core areas and ongoing geopolitical obstacles. * The chip …

Morning Bid: China sales doubt blurs Nvidia beat Read More »

By Chris Kirkham, Norihiko Shirouzu and Rachael Levy (Reuters) -A month after Tesla launched a trial robotaxi service in Austin, Texas, in June for select fans, CEO Elon Musk told investors that the company’s driverless taxis would likely be available to “half the population of the U.S.” by the end of this year. Alphabet’s Waymo …

How Tesla and Waymo’s radically different robotaxi approaches will shape the industry Read More »

By Scott Murdoch SYDNEY (Reuters) -Australia’s ANZ Group apologised to staff and offered psychological counselling after some bankers earmarked for job cuts were notified they would be fired in an automated email that was sent by mistake. Some staff in the bank’s retail division were emailed on Wednesday, informing them of their finishing date ahead …

Australia’s ANZ offers counselling after premature job-cut emails Read More »

By Kylie Madry MEXICO CITY (Reuters) -Mexican authorities will kick off audits of 14 Brazilian meatpacking plants next month to clear them to send exports to Mexico, Luis Rua, secretary of trade at Brazil’s agriculture ministry, told Reuters. WHY IT’S IMPORTANT In August, Mexico overtook the U.S. as the No. 2 buyer of Brazil’s beef …

Mexico set to clear more Brazilian meatpacking plants for shipments, official says Read More »