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Stocks bask in tech mania, Nvidia boom
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StanChart lowers income target, launches $1 billion share buyback as profit jumps 18%
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Allianz nearly doubles Q4 net profit, helped by health and life business
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BASF dials up cost cuts in Germany, flags earnings rebound
ECB reports record loss for 2023 as rate hikes bite
Date: February 22, 2024
ECB reports record loss for 2023 as rate hikes bite FRANKFURT (Reuters) – The European Central Bank on Thursday reported a record annual loss for 2023 and said further losses were likely as its aggressive interest rate hikes force it to pay out billions of euros to banks. The ECB, which has raised rates at...
Nestle misses sales estimates as price hikes deter shoppers
Date: February 22, 2024
Nestle misses sales estimates as price hikes deter shoppers By Richa Naidu LONDON (Reuters) – Nestle reported full-year organic sales growth slightly below expectations on Thursday as the world’s biggest packaged food company continued to hike prices, prompting some shoppers to turn to competing brands. Shares fell more than 4% in early London trade to...
China’s Xpeng signs partnership with UAE’s Ali&Sons, eyes Italian market
Date: February 22, 2024
China’s Xpeng signs partnership with UAE’s Ali&Sons, eyes Italian market BEIJING (Reuters) – China’s Xpeng on Thursday said it has established a strategic partnership with UAE-based Ali&Sons and added Italy to its Europe plans, as the electric vehicle maker ramps up overseas expansion. The announcement adds to Xpeng’s partnerships with local dealers for the Egypt,...
As Nikkei eclipses 34-year record, derivatives signal stall ahead
Date: February 22, 2024
As Nikkei eclipses 34-year record, derivatives signal stall ahead By Junko Fujita TOKYO (Reuters) – As Japan’s Nikkei catapults past its bubble-era peak and investors grow confident of future gains, flows in the derivative market points to a potential interruption in short-term momentum. The Nikkei share average sailed past 1989 highs in afternoon trade...
TotalEnergies Texas refinery running at minimal rates, say sources
Date: February 22, 2024
TotalEnergies Texas refinery running at minimal rates, say sources By Erwin Seba HOUSTON (Reuters) -TotalEnergies’ 238,000-barrel-per-day (bpd) refinery in Port Arthur, Texas, is operating at minimal production as it contends with multiple upsets on Wednesday, people familiar with plant operations said. The refinery has been struggling to complete a restart following a Jan. 16 plant-wide...
Delivery Hero terminates talks on potential sale of foodpanda business in Southeast Asia
Date: February 22, 2024
Delivery Hero terminates talks on potential sale of foodpanda business in Southeast Asia (Reuters) – German food delivery company Delivery Hero said on Wednesday that the ongoing talks for the potential sale of its foodpanda business in selected markets in Southeast Asia have been terminated. The parties could not reach final agreement on the deal...