FirstEnergy to host public conference call as New Jersey electric prices soar
TRENTON, NJ – With electric bills climbing across New Jersey, FirstEnergy Corp. announced it will host a public conference call to review its third-quarter financial results and address customer concerns. The call…
New York Times hits 10 million subscriptions goal early with Athletic deal
By Eva Mathews – The New York Times Co has met its target of 10 million subscriptions three years ahead of schedule thanks to its purchase of The Athletic, a win for…
Capri plans price increases at Michael Kors, Versace as luxury fashion booms
By Ananya Mariam Rajesh and Uday Sampath Kumar -Michael Kors owner Capri Holdings on Wednesday reported a 24% jump in holiday-quarter sales and raised its full-year outlook, saying it would further increase…
Record euro zone inflation piles pressure on ECB
FRANKFURT -Euro zone inflation rose to a new record high last month, defying expectations for a big drop and piling pressure on the European Central Bank to finally admit that price growth…
China’s JD.com CEO joins billionaire charity rush with $2.3 billion share pledge
-JD.com founder and CEO Richard Liu will donate company shares worth about $2.34 billion to charity, the Chinese e-commerce giant said on Wednesday, adding to a list of similar philanthropic pledges from…
China property developers’ cash squeeze drags down elevator-maker Kone
By Anne Kauranen HELSINKI -Reduced liquidity in the Chinese property sector and rising supply chain costs are expected to weigh on 2022 profits, elevator maker Kone said on Wednesday, as it reported…
U.S. tells pilots to focus on flightpath management even on autopilot
WASHINGTON – The Federal Aviation Administration (FAA) said Wednesday it was issuing draft guidance and recommended practices for flightpath management for pilots. The FAA said the issue is important in the operation…
Ex-Credit Suisse chairman fined $2,200 for breaking COVID rules
ZURICH – Former Credit Suisse chairman Antonio Horta-Osorio has been ordered to pay a fine of 2,000 Swiss francs ($2,178) after breaking COVID-19 quarantine rules, prosecutors said on Wednesday, following his resignation…
Analysts beef up expectations for Europe’s earnings season
LONDON – Analysts are upgrading their expectations for Europe’s fourth-quarter earnings season, which has seen a steep increase in companies announcing consensus-beating results, according to the latest data from Refinitiv I/B/E/S. Earnings…
AbbVie sees strong 2022 earnings as Botox, Skyrizi power profit beat
-AbbVie Inc forecast full-year adjusted profit above Wall Street estimates on Wednesday, as strong sales of its blockbuster anti-wrinkle injection Botox and newer psoriasis drug Skyrizi helped the company beat quarterly profit…
Mercedes-Benz CEO says raw material scarcity could delay e-mobility – Die Zeit
– Scarce supply of raw materials for electric cars could slow the transition from fossil-fuel burning vehicles to electric ones, Mercedes-Benz Chief Executive Ola Kaellenius said in an interview with German paper…
Exclusive-U.S. SEC suspended internal watchdog for 7 days after misconduct finding-records
By Chris Prentice and Sarah N. Lynch WASHINGTON – The U.S. Securities and Exchange Commission (SEC) suspended its inspector general Carl Hoecker for seven days without pay in 2020, despite an independent…
Analysis-Aeromexico may still hit bumps after bankruptcy exit
By Valentine Hilaire MEXICO CITY – Aeromexico looks set to emerge from bankruptcy within days, but analysts believe the Mexican airline faces stiff challenges taking on low-cost competitors like Volaris, now the…
A year on, GameStop champion Roaring Kitty is quiet – yet much richer
(Editor’s note: This story contains language in the 4th and 8th paragraphs that some readers may find offensive.) By Michelle Price WASHINGTON – A year ago, office worker Keith Gill shot to…
Starbucks to hike prices to offset inflation; lowers profit guidance
By Hilary Russ and Praveen Paramasivam -Starbucks Corp will raise menu prices in 2022 and reduce some spending to offset soaring costs for labor and goods, as rising COVID-19 cases prompted the…
Ford to make new investment of up to $20 billion in EV push- Bloomberg News
-Ford Motor Co is planning additional investment of up to $20 billion in building its electric vehicles, Bloomberg News reported on Tuesday. The investment of $10 billion to $20 billion will be…
Sony lifts forecast as ‘Spider-Man’ propels quarterly profit
By Sam Nussey TOKYO – Japan’s Sony Group Corp raised its full-year profit forecast by 15% on Wednesday after posting estimate-smashing quarterly earnings, propelled by the success of “Spider-Man: No Way Home”…
PayPal shares plunge 17% as bleak forecast stokes growth fears
– Shares of PayPal Holdings Inc slumped nearly 17% on Wednesday as investors questioned the company’s growth prospects after it disclosed a big hit to revenue from the impending loss of marquee…
Global container flows struggle to pick up speed, data shows
By Jonathan Saul LONDON – Efforts to speed up the movement of goods around the world have yet to solve the supply chain bottlenecks caused by surging demand for retail goods and…
Investors urge miners to change ways after damning Rio Tinto workplace report
By Ernest Scheyder, Byron Kaye and Praveen Menon – Anglo-Australian miner Rio Tinto’s admissions of sexual assault, racism and bullying in an internal report have sparked calls from investors for the entire…
Amazon to create 1,500 apprenticeships in UK in 2022
LONDON -Amazon will create 1,500 new apprenticeships in the United Kingdom in 2022, it said on Wednesday. The internet giant said it was offering 40 entry to degree-level apprenticeship schemes, including new…
U.S. union wants retailers to review wages paid by vendors in ‘human capital’ trend
By Ross Kerber – The Teamsters union wants four large U.S. retailers to investigate if companies in their supply chains are underpaying workers, hoping the retailers will use their leverage with vendors…
Meta in focus after strong report by Alphabet boosts confidence
By Nivedita Balu and Danielle Kaye – The holidays were a gift to Alphabet Inc’s Google, quarterly results showed. Next up: Facebook owner Meta Platforms Inc. Alphabet’s internet advertising, cloud computing and…
Homebuilder DR Horton first-quarter profit jumps
– D.R. Horton Inc posted a 44.2% rise in quarterly profit on Wednesday, benefiting from record-high property prices and lower interest rates on home loans. Net income attributable to the largest U.S.…
Vodafone chasing deals to deliver for long-suffering investors
By Paul Sandle LONDON – Vodafone is pursuing mergers with rivals in multiple European markets, spurred on by more favourable signals from regulators who have realised the value of network investment during…
Robots marched on in 2021, with record orders by North American firms
By Timothy Aeppel – More robots joined the U.S. workforce last year than ever before, taking on jobs from plucking bottles and cans off conveyor belts at trash recycling plants to putting…
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