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Britain’s gas network ready for hydrogen fuel, report says
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UK pay settlements hold at 4.9% in three months to June
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Visa reports rare quarterly revenue miss, shares drop
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Porsche cuts forecasts due to alloy shortage, shares fall
GM beats quarterly expectations and raises forecast, but shares dive
Date: July 23, 2024
By Nora Eckert DETROIT (Reuters) -General Motors reported second-quarter profit and revenue on Tuesday that beat Wall Street’s expectations, and raised its annual profit forecast for a second time this year, buoyed by strong pricing and demand for gas-powered trucks. The company’s shares plunged more than 6%, however. The selloff could be related to a...
Digesting Biden exit, markets focus on earnings, data
Date: July 23, 2024
By Yoruk Bahceli and Tom Westbrook (Reuters) -World markets steadied on Tuesday as investors looked beyond Joe Biden’s exit from the U.S. presidential race, turning their focus to corporate earnings and economic data. Biden’s exit from the race has cast some doubt over a Republican victory under Donald Trump and could see investors unwind trades...
Spotify slightly misses revenue prediction, falls short of user growth target
Date: July 23, 2024
By Martin Coulter LONDON (Reuters) – Spotify reported quarterly results broadly in line with analyst expectations on Tuesday, but failed to meet its own target for user growth. The Swedish audio-streaming giant sought to reduce costs through layoffs and cuts to its marketing budget last year, while trying to grow its user base through...
Computer parts maker Logitech lifts full-year outlook on upbeat Q1 results
Date: July 23, 2024
ZURICH (Reuters) -Computer mouse maker Logitech International raised its full-year sales and profit outlook on Tuesday, encouraged by strong quarterly growth. The Swiss-American company now expects its full-year sales in the range of $4.34-$4.43 billion, up from a previous projection of $4.3-$4.4 billion. It added that it expects Non-GAAP operating income to be between...
Aussie, kiwi dollars struggle on China’s rate cuts; dollar adrift
Date: July 23, 2024
By Rae Wee SINGAPORE (Reuters) – The Australian and New Zealand dollars languished near multi-week lows on Tuesday after China’s move to cut several key interest rates, while the dollar was little changed as it awaited fresh impetus. China on Monday surprised markets by cutting major short and long-term interest rates in its first...
TotalEnergies Texas refinery returns to normal operation, sources say
Date: July 23, 2024
HOUSTON (Reuters) – TotalEnergies’ 238,000 barrel-per-day (bpd) Port Arthur, Texas refinery returned to normal operation over the weekend, people familiar with plant operations said on Monday. The refinery shut down on July 13 because of a loss of steam supply, which powers the refinery and is required in the process of converting crude oil...