(Reuters) – Alaska Air Group on Tuesday forecast its annual revenue below estimates on early signs of cooling ticket prices, sending its shares down 6.3% in premarket trading. U.S. inflation …
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- Business News
JPMorgan ups Turkey inflation, growth forecasts after rates decision
by Reutersby ReutersLONDON (Reuters) – Wall Street bank JPMorgan revised both its growth and inflation outlooks for Turkey upwards after the central bank delivered a smaller-than-expected interest rate hike on Thursday. JPMorgan …
- Business News
Analysis-Bank of Canada hones messaging as inflation defies forecasts
by Reutersby ReutersBy Steve Scherer and Fergal Smith OTTAWA (Reuters) – The Bank of Canada has shifted to a less prescriptive messaging strategy than it used in January when it signaled a …
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By Caroline Valetkevitch NEW YORK (Reuters) – Forecasts for second-quarter U.S. earnings still look gloomy after a much-better-than-feared first quarter season as the likelihood of further interest rate hikes this …
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Bond market divergence from Fed entrenched in U.S. yield forecasts: Reuters poll
by Reutersby ReutersBy Sarupya Ganguly BENGALURU (Reuters) – U.S. bond markets are already pricing beyond expected Federal Reserve interest rate hikes in coming months, with strategists polled by Reuters forecasting short-dated yields …
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NY Fed in-house forecasts points to better economic outlook for U.S
by Reutersby ReutersBy Michael S. Derby NEW YORK (Reuters) – The New York Fed’s in-house economic forecasting model is predicting a notably brighter economic future for the U.S. relative to three months …
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SHANGHAI (Reuters) – Global investment houses have rushed to downgrade forecasts for the Chinese yuan after it weakened past the closely watched 7 per dollar level, pressured by widening yield …
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U.S. consumer outlook dims as upscale retailers, discounters slash forecasts
by Reutersby ReutersBy Aishwarya Venugopal (Reuters) – Weak profit forecasts from department store chain Macy’s to discounter Dollar General on Thursday underscored the fragile health of the U.S. consumer as persistent inflation …
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By Granth Vanaik (Reuters) – Hormel Foods Corp reaffirmed its annual sales and profit forecasts even as its second-quarter revenue missed estimates, sending the company’s shares up as much as …
- Business News
Latitude Group flags sharp drop in earnings due to cyberattack, shares fall
by Reutersby ReutersBy Navya Mittal and Himanshi Akhand (Reuters) -Australia’s Latitude Group on Friday forecast a steep fall in fiscal 2023 earnings due to higher credit losses and provisions associated with a …
- US and World News
Russian spy chief tells ‘meddling West’ to go to the devil, forecasts its demise
by Reutersby ReutersBy Andrew Osborn (Reuters) – One of Russia’s top spy chiefs on Wednesday said the West had sown the seeds of its own destruction by turning away from what he …
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Euro 7 emissions standard to cost many times EC forecasts -industry group
by Reutersby ReutersBy Nick Carey LONDON (Reuters) – Proposed Euro 7 emissions regulations will lead to direct costs for auto manufacturers that are up to 10 times higher than the European Commission’s …
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By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) -Russia’s largest lender Sberbank on Thursday reported record first-quarter net profit of 357.2 billion roubles ($4.6 billion) and raised forecasts for several …
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SAO PAULO (Reuters) – Brazil’s retail sales smashed market estimates in March, growing more than the highest forecast in a Reuters poll of economists, in a positive reading for the …
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Nomura, Barclays cut China 2023 GDP forecasts as recovery sputters
by Reutersby ReutersBEIJING (Reuters) – Nomura has cut its forecast for China’s 2023 gross domestic product (GDP) growth to 5.5% from 5.9% previously, after April data showed a post-COVID recovery in the …
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UK’s Sunak may fall short on 2023 inflation goal, NIESR forecasts
by Reutersby ReutersBy David Milliken LONDON (Reuters) – British Prime Minister Rishi Sunak risks missing his goal of halving inflation this year as underlying inflation shows little sign of having peaked in …
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Chipmaker GlobalFoundries forecasts downbeat quarter, shares fall
by Reutersby Reuters(Reuters) – GlobalFoundries Inc projected quarterly revenue below estimates on Tuesday as the chip manufacturer takes a hit from slumping sales of smartphones and other consumer electronics, sending its shares …
- US and World News
NPCC forecasts adequate power supply in parts of U.S. Northeast, eastern Canada this summer
by Reutersby Reuters(Reuters) – Northeast Power Coordinating Council Inc (NPCC) on Thursday said its annual reliability assessment projected the regions under its oversight will have an adequate supply to meet peak electricity …
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By Granth Vanaik and Jessica DiNapoli (Reuters) – Clorox Co raised its annual sales and profit forecasts on Tuesday, banking on higher product prices that helped the household staples maker …
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Zimmer Biomet raises annual forecasts on knees and hips unit strength
by Reutersby Reuters(Reuters) – Zimmer Biomet Holdings Inc raised its annual sales and profit forecasts on Tuesday, banking on strong demand for its knees and hips products amid a sustained recovery in …
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Emirates boss forecasts resilient demand, no hit from new airlines
by Reutersby ReutersBy Yousef Saba and Lisa Barrington DUBAI (Reuters) – Emirates Airline President Tim Clark said on Tuesday that new Saudi airlines and the expansion of regional competitors will not affect …
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SAO PAULO (Reuters) – Brazilian motor maker WEG SA on Wednesday reported a first-quarter net profit of 1.3 billion reais ($257.29 million), up 38.4% from a year earlier and roughly …
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By Karl Plume and Sourasis Bose CHICAGO (Reuters) -Archer-Daniels-Midland Co beat Wall Street expectations on Tuesday with a record first-quarter profit but its shares fell as it forecast full-year earnings …
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JetBlue forecasts second-quarter profit above expectations on robust demand
by Reutersby Reuters(Reuters) – JetBlue Airways Corp forecast a better-than-expected second-quarter profit on Tuesday as the low-cost carrier remains confident about a robust recovery in leisure and international travel. Shares of the …
- Business News
U.S. company comments suggest upbeat demand despite gloomy forecasts
by Reutersby ReutersBy Caroline Valetkevitch NEW YORK (Reuters) – Investors worried the U.S. could be on the brink of a recession may be relieved by some early comments from company executives this …