Business

Peloton shares plunge on disappointing holiday-quarter forecast

FILE PHOTO: A Peloton exercise bike is seen after the ringing of the opening bell for the company’s IPO at the Nasdaq Market site in New York City, September 26, 2019. REUTERS/Shannon Stapleton/File Photo(Reuters) -Peloton Interactive Inc on Thursday forecast holiday-quarter sales below market estimates as supply chain issues hamper the home fitness leader’s ability […]

Business

We're hiring: Deutsche expands investment bank in revenue quest

FRANKFURT (Reuters) – Deutsche Bank is gingerly hiring new staff at its investment bank, which has become its biggest revenue generator here, as it pursues new revenue opportunities.FILE PHOTO: The headquarters of Germany’s Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File PhotoIn the first year-on-year increase in front-office staff at the […]

Business

LG Chem Q3 results miss estimates, hit by GM Bolt recall cost

SEOUL (Reuters) -South Korea’s LG Chem Ltd posted a 20% fall in quarterly profit on Monday, hurt by a one-off expense associated with the recall of General Motors’ Bolt electric vehicles.FILE PHOTO: The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-JiIt reported an operating […]

Business

Wall Street banks set to profit again when Fed withdraws pandemic stimulus

NEW YORK (Reuters) – Wall Street banks have been among the biggest beneficiaries of the pandemic-era trading boom, fueled by the Federal Reserve’s massive injection of cash into financial markets.FILE PHOTO: A street sign for Wall Street is seen outside of the New York Stock Exchange (NYSE) in New York City, New York, U.S., June […]

Business

Tesco defies supply chain challenges to lift profit outlook

LONDON (Reuters) -Tesco, Britain’s biggest retailer, raised its full-year earnings forecast on Wednesday after the unmatched scale of its store and online operations helped it outperform rivals in the first half and beat expectations with a 16.6% jump in profit. British retailers are battling supply chain disruptions and labour shortages. Supermarkets also face tough comparisons […]

Business

Occidental Petroleum, Devon Energy impress Wall St as oil price bounces

FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid(Reuters) – U.S. oil and gas producers Occidental Petroleum Corp and Devon Energy Corp blew past Wall Street’s profit expectations on Tuesday, as easing travel […]

Business

StanChart reinstates payouts but income drop signals challenges ahead

HONG KONG/LONDON (Reuters) -Standard Chartered PLC reported a higher than expected 57% jump in first-half profit and $350 million worth of shareholder payouts, but a fall in revenue showed the longer-term struggle ahead for the bank.FILE PHOTO: A logo of Standard Chartered is displayed at its main branch in Hong Kong, China, Aug. 1, 2017. […]

Business

UPS shares hit three-month low on worries e-commerce is cooling

(Reuters) -United Parcel Service Inc shares fell to a three-month low on Tuesday on worries that growth from the pandemic-fueled e-commerce boom may be fading.FILE PHOTO: The company logo for United Parcel Service (UPS), is displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., October 22, 2019. REUTERS/Brendan McDermid/File […]

Business

Reckitt second-quarter sales miss estimates

FILE PHOTO: Products produced by Reckitt Benckiser; Vanish, Finish, Dettol and Harpic, are seen in London, Britain February 12, 2008. REUTERS/Stephen Hird(Reuters) – Lysol maker Reckitt Benckiser Group missed analysts’ estimates for second-quarter sales on Tuesday, as demand eased for its soaps and cold remedies and the company backed its full-year outlook. The company reported […]

Business

BlackRock profit beats as assets grow to a record $9.5 trillion

NEW YORK (Reuters) – BlackRock Inc, the world’s largest asset manager, reported a better-than-expected quarterly profit on Wednesday as investors poured more money into the company’s funds, driving robust fee growth and boosting its assets under management to a record high.FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., […]