Reuters US Economy

O’Reilly Automotive lowers full year outlook as demand for some auto parts softens

24 Oct 2024

(Reuters) – Auto Parts distributor O’Reilly Automotive Inc tightened its full-year profit and sales expectations on Wednesday as customers cut back on purchases of some non-essential auto parts, sending shares down 2.7% after the bell. Demand remained weak in the company’s accessory categories and certain under-car parts, such as brake systems and suspensions. O’Reilly cut …

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Brazil’s central bank committed to lowering inflation to target, policymakers say

23 Oct 2024

(Reuters) -Policymakers at Brazil’s central bank on Wednesday stressed that they will do whatever it takes to bring inflation back down to the country’s 3% target, while voicing concern about unanchored consumer price expectations. The central bank in Latin America’s largest economy last month delivered a 25-basis-point increase to its benchmark interest rate, bringing it …

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Veralto lifts annual profit forecast on sustained demand for water quality products

23 Oct 2024

(Reuters) – Veralto raised its annual adjusted profit forecast on Wednesday, for the third time this year, as the water treatment solutions provider expects sustained demand for its chemical treatment services and UV-filtration systems. Veralto, which was spun off from the life sciences firm Danaher in September last year, provides quality control services to companies …

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Rollins posts third-quarter profit miss on rising costs, slowing demand; shares fall

23 Oct 2024

(Reuters) – Pest control firm Rollins missed Wall Street expectations for third-quarter profits on Wednesday, as customers reduced spending on non-essential services. Shares of the company which offers pest control services including termite, bed bug, and rodent infestation treatment, fell nearly 5.23% at $47.15 after the bell. Higher product pricing has pushed price-sensitive consumers, already …

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Argentina’s economic activity contracts less than expected in August

23 Oct 2024

BUENOS AIRES (Reuters) – Argentina’s economic activity grew 0.2% in August from July and fell less than expected from a year ago in the South American country’s third straight month of year-on-year contraction, its official statistics agency said on Wednesday. The grains-rich country’s economic activity fell 3.8% year-on-year, less than an estimated 4.9% drop by …

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Brazil’s Haddad says measures for fiscal rules sustainability to be discussed with Lula

23 Oct 2024

By Marcela Ayres WASHINGTON (Reuters) – Brazil’s Finance Minister Fernando Haddad said on Wednesday that a “remedy” to ensure the sustainability of the country’s fiscal framework will be discussed with President Luiz Inacio Lula da Silva upon Haddad’s return from Washington. Speaking to reporters in Washington, where he is attending IMF/World Bank and G20 meetings, …

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War likely to wipe 9% off Lebanon’s GDP, with fallout set to exceed 2006 conflict

23 Oct 2024

By Maya Gebeily and Michelle Nichols BEIRUT/NEW YORK (Reuters) – The war between Israel and armed group Hezbollah is expected to wipe 9% off Lebanon’s national wealth as measured by GDP, the United Nations said on Wednesday, with the scale of hostilities and the economic fallout set to surpass the last war in 2006. The …

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Swiss attract less foreign cash from rich clients as Credit Suisse crash weighs, survey says

23 Oct 2024

ZURICH (Reuters) – Switzerland is becoming less attractive to wealthy clients, with a decline in assets managed by the country’s banks and financial advisers, according to a study published on Wednesday. Foreign assets under management fell to $2.174 trillion in 2023 from $2.624 trillion in 2020 when the survey was last carried out, the study …

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Most Gulf markets in red on heightened regional tensions

23 Oct 2024

By Ateeq Shariff (Reuters) – Most stock markets in the Gulf ended lower on Wednesday as geopolitical tensions in the region depressed sentiment, while corporate earnings failed to lift investor mood. Saudi Arabia’s benchmark index dropped 0.5%, weighed down by a 1.4% slide in aluminium products manufacturer Al Taiseer Group and a 0.9% decrease in …

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