Lucid forecasts annual vehicle production below estimates
(Reuters) -Lucid Group forecast annual vehicle production far below analysts’ estimates on Wednesday, on signs that demand for its luxury electric vehicles will slow down as high interest rates pinch consumer budgets.…
Broadcom forecasts current-quarter revenue above estimates on cloud strength
(Reuters) – Broadcom Inc forecast current-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for chips used in data centers and networking equipment. Companies are increasingly investing in the infrastructure…
Italy Nov EU-harmonised CPI edges down to 12.5% y/y, but above forecasts
ROME (Reuters) – Italian EU-harmonised consumer prices (HICP) rose a preliminary 0.6% month-on-month in November, with annual inflation slowing marginally to 12.5% from 12.6% in October but exceeding expectations, data showed on…
Bank of England’s Mann sees inflation at upper end of BoE forecasts
LONDON (Reuters) – Bank of England policymaker Catherine Mann said on Thursday that she expected inflation would be at the upper end of the range of forecasts published by the central bank…
IMF forecasts Spain growth close to zero at turn of year
MADRID (Reuters) -The International Monetary Fund expects economic growth in Spain to slow in 2023 on higher prices and flagging demand before rebounding to pre-pandemic levels in 2024, it said on Wednesday…
Kohl’s withdraws annual sales, profit forecasts
(Reuters) -Kohl’s Corp withdrew its 2022 sales and profit forecasts on Thursday, blaming an uncertain economic outlook and the departure of top boss Michelle Gass. Shares of the department store chain fell…
Forecasts split on Bank of Israel benchmark rate rise
By Steven Scheer JERUSALEM (Reuters) – The Bank of Israel is expected to raise short-term interest rates for a sixth straight time next week, a Reuters poll shows, although analysts are split…
Australia jobs beat forecasts, boosting case for more rate hikes
By Wayne Cole SYDNEY (Reuters) -Australia’s jobless rate matched five-decade lows in October as employment climbed by double market forecasts, a sign it will take further increases in interest rates to loosen…
JPMorgan cuts China quarterly and full-year growth forecasts
LONDON (Reuters) – Investment bank JPMorgan cut its forecasts for economic growth in China on Tuesday due to the country’s ongoing COVID-19 restrictions. JPMorgan has lowered its projections a number of times…
SocGen net income tops forecasts in third quarter
PARIS (Reuters) – Societe Generale, France’s third-biggest listed bank, joined European rivals in posting a higher than expected net income in the third quarter as market volatility boosted trading revenues. SocGen, which…
Canada cuts 2022/23 deficit forecasts, pledges targeted new spending
OTTAWA (Reuters) – Canada set out on Thursday C$11.3 billion ($8.2 billion) in new spending this year and next, and slashed its budget deficit forecast by nearly a third for the current…
Banks raise Fed terminal rate forecasts after Powell’s hawkish tone
By Caroline Valetkevitch NEW YORK (Reuters) – Investors and strategists are ramping up expectations for how much the Federal Reserve will raise interest rates in its effort to bring down inflation in…
Roku dives as tough ad market drives downbeat forecasts
(Reuters) -Roku Inc shares dropped 14% to a more than three-year low on Thursday following downbeat forecasts a day earlier, as the streaming tech provider suffers from a collapse in advertising dollars.…
Under Armour cuts annual forecasts as sportswear demand slumps
(Reuters) -Under Armour Inc cut its annual revenue and profit forecasts on Thursday, as the sporting goods company contends with weakening demand from consumers ahead of the crucial holiday shopping season and…
Canadian dollar forecasts cut as BoC trails Fed on peak-rate bets – Reuters poll
By Fergal Smith TORONTO (Reuters) – Canada’s dollar will gain less than previously thought over the coming year as the domestic economy has lost some sensitivity to oil prices and the Bank…
Economic slump nudges down platinum and palladium forecasts – Reuters poll
By Eileen Soreng and Peter Hobson (Reuters) – Analysts and traders have downgraded their forecasts for platinum and palladium prices next year as a global economic slowdown reduces demand, according to a…
U.S. Q3 GDP overshot IMF forecasts, but growth volatile -official
By David Lawder WASHINGTON (Reuters) – The International Monetary Fund may need to raise its forecast for U.S. growth after stronger-than-expected third-quarter GDP data, a senior IMF official said on Wednesday, but…
Estee Lauder cuts forecasts on China curbs, tightening inventories
By Ananya Mariam Rajesh (Reuters) -Estee Lauder Cos Inc cut its full-year forecasts on Wednesday ahead of the most important holiday season, blaming lockdowns in China and American retailers cutting stocks of…
Euro zone inflation soars past forecasts to new record high
FRANKFURT (Reuters) – Euro zone inflation surged past expectations yet again this month to hit a record high, pointing to further interest rate hikes from the European Central Bank as price pressures…
BOJ raises inflation forecasts, keeps ultra-low rates
TOKYO (Reuters) – The Bank of Japan raised its inflation forecasts on Friday but maintained ultra-low interest rates, remaining a dovish outlier among a global wave of central banks tightening monetary policy.…
Tequila maker Cuervo Q3 earnings beat forecasts amid price hikes
MEXICO CITY (Reuters) – Mexican distiller Becle, better known as the parent company of tequila brand Jose Cuervo, posted a 29.6% jump in third-quarter net profit Thursday, as it hiked prices and…
Xerox shares slide as annual revenue, cash flow forecasts take a hit
(Reuters) – Xerox Holdings Inc’s shares plunged about 25% to 13-year lows on Tuesday after the photocopy maker slashed its annual revenue and cash flow forecasts, blaming a stronger dollar and a…
China’s Sept exports grow 5.7%, beat forecasts, imports weak
BEIJING (Reuters) – China’s exports grew 5.7% in September from a year earlier, beating expectations, while imports rose 0.3%, missing estimates, customs data showed on Monday. Analysts polled by Reuters had expected…
Australia to cut economic growth forecasts on lower consumer spending
SYDNEY (Reuters) – Australia’s economic growth is expected to slow sharply next financial year as rising inflation curbs household consumption, according to new forecasts to be unveiled by Treasurer Jim Chalmers in…
Singapore exports rise 3.1% year-on-year in September, missing forecasts
SINGAPORE (Reuters) – Singapore’s September non-oil domestic exports (NODX) grew 3.1% year-on-year, official data showed on Monday, slower than the previous month and missing forecasts due to declines in shipments for the…
Honeywell forecasts increase in private jet deliveries over next decade
(Reuters) – Honeywell International Inc on Sunday lifted its outlook for business jet deliveries, as the COVID-19 pandemic brought in a wave of first-time users and buyers in the private flying market.…
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