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Thermo Fisher forecasts 2024 profit below estimates on biotech demand slump
(Reuters) -Medical equipment maker Thermo Fisher Scientific forecast annual profit and revenue below Wall Street estimates on Wednesday, signaling that a slump in demand for its services used to make therapeutics and…
Japan slashes fiscal year GDP growth f’cast to 2.0% on global demand slump
By Daniel Leussink TOKYO – Japan’s government slashed its economic growth forecast for this fiscal year largely due to slowing overseas demand, highlighting the impact of Russia’s war in Ukraine, China’s strict…
U.S. banks take hit on leveraged loans as deals slump, rates rise
By Saeed Azhar and Elizabeth Dilts Marshall NEW YORK – U.S. banks have started taking a hit on their leveraged loans’ exposure as the outlook for dealmaking turns sour amid rising interest…
Wall Street banks’ Q2 trading revenue likely to surge, softening blow from deal slump
By Saeed Azhar NEW YORK – A surge in trading revenue powered by volatile markets should partially offset a slump in M&A and equity and debt deals when Wall Street banks report…
Babel Finance suspends withdrawals as crypto markets slump
(Reuters) – Hong Kong-based Babel Finance temporarily suspended the withdrawals and redemption of crypto assets on Friday, as the crypto lender scrambles to pay its clients after the recent slump in the…
ARK’s Cathie Wood keeps focus on deflation as fund slump continues
By David Randall NEW YORK – Slowing global economic growth will soon make deflation – rather than inflation – the greatest driver in financial markets, star stock picker Cathie Wood of Ark…
Tourism rebounds in Portugal from pandemic slump, but return to record unlikely
By Sergio Goncalves LISBON – Tourism is rebounding more quickly in Portugal than in some parts of Europe, but the number of foreign visitors this year is still expected to lag the…
Russian mobile operator MTS reports 76.2% y/y slump in Q1 net profit
(Reuters) – Russia’s biggest mobile operator MTS on Wednesday reported a 76.2% year-on-year drop in first-quarter net profit to 3.9 billion roubles ($62.9 million), which it blamed in part on higher interest…
Morgan Stanley sees Ukraine GDP slump by 60% in 2022 if “no clear resolution”
LONDON – Morgan Stanley said on Wednesday Ukraine’s economy could slump as much as 60% year-on-year in 2022 in case of a “more prolonged conflict with no clear resolution” following Russia’s invasion.…
Valneva shares slump after COVID vaccine deal with EU falls apart
By Natalie Grover (Reuters) -Valneva lost nearly a fifth of its value on Monday after the French drugmaker said its COVID-19 vaccine agreement with the European Commission was likely to be scrapped…
Japan’s economy to suffer Q1 slump on lower consumption
TOKYO – Japan’s economy likely contracted in the first three months of this year as the lingering fallout from the COVID-19 pandemic took a toll on consumption and exports, a Reuters poll…
Netflix shareholders sue over subscription slump disclosures
By Jody Godoy (Reuters) – Netflix Inc has been hit with a shareholder lawsuit in a U.S. court in California accusing the streaming entertainment company of misleading the market about its ability…
Securitas grows profit as demand recovers from pandemic slump
STOCKHOLM -Security services group Securitas reported on Wednesday a rise in first-quarter profit that matched expectations helped by strong sales growth in Europe. Operating profit rose to 1.25 billion Swedish crowns ($126.7…
Toyota reports record high global production for March, despite slump at home
TOKYO – Toyota Motor Corp on Wednesday posted record high global production in March, as overseas production made up for a drop off at home, highlighting the impact of factory stoppages and…
Russia’s new car sales slump 63% year on year in March
(Reuters) – New car sales in Russia fell 62.9% year-on-year in March, contracting for a ninth straight month, as the industry encountered an acute shortage and soaring prices caused by a sharp…
Spain March car sales slump as trucker strike adds to industry woes
MADRID – New car registrations in Spain fell more than 30% in March as a partial trucker strike delayed deliveries of vehicles and parts and deepened existing supply-chain issues, industry body Anfac…
Mexico’s Grupo Aeromexico shares slump after public tender offer closes
MEXICO CITY, Mar 15 – Mexico’s Grupo Aeromexico shares plunged for a fourth day in a row on Tuesday after nearly a fifth of the company’s capital was sold at 1 cent…
SocGen and Renault shares slump after sanctions on Russia
PARIS – Shares in Societe Generale, the French bank that owns Russia’s Rosbank, and carmaker Renault slumped on Monday after Western nations imposed sanctions on Russia after its attack on Ukraine. SocGen…
Australia’s IAG cash earnings slump 62% as natural hazard claims surge
– Insurance Australia Group beat profit and dividend estimates on Friday for the first half, even as higher claims tied to natural disasters, including severe storms and hail last October, led to…
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