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…
Novartis sees steady growth as weighs selling generics arm
By Ludwig Burger FRANKFURT – Novartis expects sales and core operating profit to rise around 5% this year, below some analysts’ expectations, as the Swiss drugmaker weighs up interest in its generics…
Japanese banks sound caution for earnings as Omicron highlights bad loan risks
By Makiko Yamazaki and Ritsuko Shimizu TOKYO -Japan’s biggest lenders on Wednesday all sounded alarm about the risk the Omicron variant could have on their earnings, reviving concerns that a resurgent pandemic…
Santander lifts profits as it releases pandemic provisions
By Jesús Aguado MADRID -Spain’s Santander released 750 million euros ($846 million) in pandemic-related provisions in the fourth quarter, betting on an economic recovery in its main markets and helping boost net…
Novo Nordisk shares rise on upbeat outlook
By Nikolaj Skydsgaard COPENHAGEN – Shares in Novo Nordisk rose more than 3% on Wednesday after the Danish drug developer delivered a better-than-expected earnings outlook for 2022 despite missing fourth quarter operating…
Exclusive-In heated meeting, India seeks tougher action from U.S. tech giants on fake news
By Aditya Kalra NEW DELHI – Indian officials have held heated discussions with Google, Twitter and Facebook for not proactively removing what they described as fake news on their platforms, sources told…
Japan’s top lender MUFG posts a 76% rise in 9-month profit
TOKYO – Japan’s top lender Mitsubishi UFJ Financial Group Inc on Wednesday posted a net profit of 1.07 trillion yen ($9.33 billion) in the nine months through December, up from 607 billion…
How to invest for inflationary times
By Chris Taylor NEW YORK – Low inflation had spoiled U.S. investors for so long that last year’s sudden surge came as a shock. As those who lived through the late 1970s…
Swedbank shares hit by interest income dip
STOCKHOLM -Swedish lender Swedbank reported slightly worse than expected quarterly earnings on Wednesday, with a drop in interest income disappointing investors and sending its shares down more than 4%. After tracking a…
Self-charging hybrids outsell diesel in Europe for first time – ACEA
BERLIN – Self-charging hybrid cars, which operate on both an internal combustion engine and a battery, outsold diesel cars in Europe for the first time in 2021, albeit by just 48 vehicles,…
Marketmind: Peak inflation? We can only hope
By Dhara Ranasinghe A look at the day ahead in markets from Dhara Ranasinghe. The European Central Bank’s plan to start tiptoeing away from monetary stimulus may be put to the test…
Volvo Cars January sales tumble as chip shortage lingers
STOCKHOLM -Volvo Car Group’s sales fell 20.2% in January under pressure from the global component shortage, though demand for its products remained strong, the automaker said on Wednesday. Volvo, which has been…
GSK to get $1.25 billion to settle HIV drug patent row with Gilead
By Pushkala Aripaka – Britain’s GlaxoSmithKline will receive $1.25 billion from Gilead Sciences as part of a settlement between its HIV medicines unit and the U.S.-based drugmaker, ending a long-drawn patent dispute.…
Panasonic’s Q3 profit slides as material costs rise and appliance sales fall
By Tim Kelly TOKYO – Japan’s Panasonic Corp on Wednesday posted a larger-than-expected 44% slide in third-quarter operating profit, hit hard by rising costs for raw materials, component shortages and a drop…
Credit Suisse must face investors’ currency rigging lawsuit in New York
By Jonathan Stempel NEW YORK -A U.S. judge on Tuesday refused to dismiss a class-action lawsuit by investors accusing Credit Suisse Group AG of conspiring to rig prices in the approximately $6.6…
Telenor Q4 lags forecasts, sees flat to slightly higher 2022 earnings
OSLO – Norway’s Telenor said on Wednesday it expects its earnings to be largely flat or slightly higher in 2022 compared to last year, as it posted quarterly profits below forecasts. Adjusted…
Self-driving car companies zoom ahead, leaving U.S. regulators behind
By David Shepardson, Hyunjoo Jin and Joseph White WASHINGTON/SAN FRANCISCO – Self-driving vehicle companies from Tesla Inc to General Motors Co’s Cruise are racing to start making money with their technology, outrunning…
EU policymakers must do more to boost telco investments, study says
By Foo Yun Chee BRUSSELS – EU policymakers need to do more to attract investments in the telecoms sector if the bloc wants its economy to become more independent from global powers…
Google propels record Alphabet revenue, driving shares up 8%
By Paresh Dave and Nivedita Balu -Google parent Alphabet Inc reported record quarterly sales that topped expectations on Tuesday, as its internet advertising business surged on consumers using Google search as they…
Faraday Future says review found inaccurate statements made to investors
– Electric vehicle firm Faraday Future Intelligent Electric Inc said on Tuesday its review had identified certain inaccurate statements made by its employees to investors and announced changes in its leadership structure.…
U.S. airline group warns 5G interference issues could linger for years
By David Shepardson WASHINGTON -It will likely take “years” to permanently address airplane interference issues caused by the deployment of 5G wireless in the C-band, a group representing major U.S. passenger and…
GM prioritizes faster EV launches ahead of fatter profits
By Joseph White and Ben Klayman DETROIT -General Motors Co on Tuesday said it will spend more than the $35 billion previously planned through 2025 to speed up launches of new electric…
Oil companies, union to continue talks on worker contract
By Erwin Seba HOUSTON -Union and energy company negotiators met on Tuesday without reaching agreement on a new labor contract covering 30,000 U.S. workers at oil refineries, chemical plants and pipelines. Marathon…
UPS offers brighter view after ‘outstanding’ 2021, shares hit record high
By Siddharth Cavale and Arriana McLymore -United Parcel Service Inc projected 2022 revenue above market expectations and doled out its biggest dividend boost on Tuesday, as the logistics giant posted record annual…
U.S. House to hold procedural vote on China competition bill on Wednesday-source
WASHINGTON – The U.S. House of Representatives plans a procedural vote on Wednesday on a bill https://www.reuters.com/business/us-house-leaders-set-unveil-chips-china-competition-bill-2022-01-25 aimed at increasing U.S. competitiveness with China and supporting the U.S. chip industry, according to…
Drug distributors, J&J to pay $590 million to settle U.S. tribes’ opioid claims
By Nate Raymond – The three largest U.S. drug distributors and drugmaker Johnson & Johnson have agreed to pay $590 million to resolve claims by hundreds of Native American tribes that the…
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