(Reuters) -Campbell Soup Co on Wednesday warned its current-quarter gross margins will be under pressure due to higher labor and raw material expenses, even as it beat Wall Street expectations for first-quarter profit. A sharp rise in inflation and a tight supply chain environment caused by the pandemic has driven up shipping and labor costs, …
Campbell Soup warns higher costs to hit second-quarter margins Read More »
By Vera Eckert FRANKFURT (Reuters) – Germany’s natural gas lobby on Wednesday called for 800 million euros ($902.56 million) in sponsorship to build plants to turn natural gas into hydrogen and split off the polluting carbon, in a test of the new government’s climate pledges. The government, which was sworn in on Wednesday, has presented …
German gas industry wants funding for ‘turquoise’ hydrogen Read More »
By Brendan Pierson (Reuters) – As Ghislaine Maxwell’s lawyers cross-examine her accusers, they face the difficult task of casting doubt on their credibility without seeming too aggressive toward women who say they were abused, legal experts say. Prosecutors have accused the British socialite of recruiting young girls to be sexually abused by financier Jeffrey Epstein, …
Maxwell’s defense seeks difficult balance in attacking accusers Read More »
By Brendan Pierson (Reuters) – As Ghislaine Maxwell’s lawyers cross-examine her accusers, they face the difficult task of casting doubt on their credibility without seeming too aggressive toward women who say they were abused, legal experts say. Prosecutors have accused the British socialite of recruiting young girls to be sexually abused by financier Jeffrey Epstein, …
Maxwell’s defense seeks difficult balance in attacking accusers Read More »
LONDON (Reuters) -The British pound fell to a new 2021 low against the U.S. dollar on Wednesday as expectations that the Bank of England will raise interest rates next week waned amid reports tougher restrictions against COVID-19 were in the offing. Britain could implement tougher COVID-19 measures, including advice to work from home, as early …
Sterling hits new 2021 lows on new COVID restriction reports Read More »
By Julia Payne LONDON (Reuters) – Global commodity trader Trafigura Group made a record net profit for a second year running in its 2021 financial year after a strong performance across divisions and significant energy market dislocations. The Geneva-based company posted a net profit of $3.1 billion for its financial year ending Sept. 30, almost …
Commodity trader Trafigura nearly doubles profit to hit record in FY 2021 Read More »
By Noor Zainab Hussain (Reuters) – Visa Inc, the world’s largest payment processor, launched a global crypto advisory service for its banking clients and merchants on Wednesday, as the adoption of digital currencies gains steam. The move is aimed at financial institutions eager to attract or retain customers with crypto offerings, retailers looking to delve …
Visa launches crypto advisory service for financial institutions, merchants Read More »
By Gwénaëlle Barzic and Silvia Aloisi PARIS (Reuters) -Shares in Nestle and L’Oreal rose on Wednesday after the Swiss food group trimmed its stake in the French beauty giant, a deal that pleases investors on both sides while keeping ties between the two companies broadly intact – at least for now. The Nescafe maker has …
Nestle sale of L’Oreal shares pleases investors on both sides Read More »
By Philip Blenkinsop BRUSSELS (Reuters) -The European Commission set out plans on Wednesday to retaliate against countries that put economic pressure on EU members to change their policies, while stressing the main purpose was deterrent. The proposal is designed to counter an increased spillover of geopolitical tensions into trade. European Union member states have accused …
EU seeks to deter economic coercion with new trade defence Read More »
By Stine Jacobsen COPENHAGEN (Reuters) – Toymaker Lego said on Wednesday it plans to build a new factory in Vietnam to keep up with rapidly growing demand for its coloured plastic bricks among children across Asia. The privately-owned Danish firm said it will invest more than $1 billion in the project, which will be its …
Lego building new brick factory in Vietnam as Asian market clicks Read More »
