Coca-Cola raises annual sales, profit forecasts on steady demand

(Reuters) -Coca-Cola raised its annual organic sales and profit forecast on Tuesday, signaling strong demand for the beverage giant's sodas, energy drinks and juices in its U.S. and international markets. The company's shares rose nearly 2% in premarket trading. Coca-Cola has been foraying into newer regions in Asia and Europe to keep its revenue growth intact and launching reformulated versions

LVMH sales grow 1% in second quarter, missing estimates

PARIS (Reuters) - LVMH, the world's biggest luxury company, posted a 1% rise in organic sales in the second quarter on Tuesday, missing analyst estimates, and likely adding to investor jitters about slowing growth in the sector. Sales at the French group, owner of labels Louis Vuitton, Tiffany & Co. and Hennessy, grew to 20.98 billion euros ($22.8 billion), a 1% rise on an organic basis, which

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Goldman Sachs buys Australia logistics properties to beef up real estate portfolio

(Reuters) - Goldman Sachs Group's alternative investments platform said on Tuesday it bought seven logistics-focused properties across Australia to scale up its real estate portfolio. These "last-mile" properties are located along urban highways in Adelaide, Brisbane, Perth and Melbourne and are leased to e-commerce, transport and wholesale distributors, Goldman Sachs Alternatives said.

Visa quarterly profit jumps 20% on strong consumer spending

(Reuters) - Visa reported a rise of 20% in third-quarter profit on Tuesday, helped by strong consumer spending on dining out and travel even as borrowing costs remain elevated. Net income rose to $4.87 billion, or $2.40 per share, in the three months ended June 30, from $4.16 billion, or $2 per share, a year earlier. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Devika Syamnath)

UK sees lowest June borrowing for five years

Borrowing – the difference between public sector spending and tax income – fell to £14.5bn last month.

Grab buys Singaporean dining reservation platform Chope

SINGAPORE (Reuters) - Grab, Southeast Asia's biggest ride-hailing and food delivery firm, has bought Singaporean dining reservation platform Chope for an undisclosed price, according to confirmation from both companies on Tuesday. "We believe the addition of Chope's products and services provides more synergies for our merchant-partners, especially in helping them capture online-to-offline

Samsung Elec talks with union end without result, union says

SEOUL (Reuters) - Samsung Electronics and representatives of its biggest workers' union in South Korea, which has been on a strike, met on Tuesday but the talks ended without results, the union said. Since earlier this month, the union has been on an indefinite strike over pay and benefits. The gap between the two sides is too wide to reach any agreement, Lee Hyun-kuk, vice president of the

Tesla sees surprise rise in second-quarter revenue

(Reuters) - Tesla reported a surprise rise in revenue for second quarter as it handed over more electric vehicles than analysts had expected, helped by price cuts and incentives. Shares of the electric-vehicle maker were down about 4% in trading after the bell. The EV maker has opted to push more inexpensive financing options over large price cuts to customers, which analysts have said would

Disney's shareholder Perlmutter sells his stake after proxy fight loss, WSJ reports

(Reuters) - Isaac Perlmutter, one of the largest investors in Walt Disney, has sold his entire stake in the media company after losing the proxy fight, the Wall Street Journal reported on Tuesday. A former Disney executive, Perlmutter sold his shares between early April and mid-July at an average price of just under $115 - but if Disney's share price declines to a range of $65 to $75, he plans to

30 Must-Have Back-to-School Supplies at Walmart for Under $10

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Capital One profit declines 61% as net charge-offs rise

By Makailah Gause (Reuters) -Capital One Financial's profit fell 61% in the second quarter, it reported on Tuesday, as it set aside more money to cover losses on loans. The company was "continuing to lean into opportunities to grow and further strengthen our domestic card and national consumer banking franchises," CEO Richard Fairbank said in a statement. Capital One's net income available to

Visa's third-quarter revenue misses Street expectations, shares dip

(Reuters) -Visa's third-quarter revenue growth fell short of Wall Street expectations as steep borrowing costs limited consumer spending, sending shares of the world's largest payments processor down 2.1% in extended trading. The U.S. Federal Reserve's efforts to curb inflation have taken interest rates to their highest since the global financial crisis of 2008, stretching the budgets of

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Venezuela inflation has cooled - but voters say they still can't make ends meet

By Mayela Armas CARACAS (Reuters) - The government of Venezuelan President Nicolas Maduro, who is seeking reelection on Sunday, has had some success in curbing formerly sky-high inflation, but workers say their salaries have not caught up with high prices for food and other goods. That, combined with general frustration after years of economic malaise, could chill support for Maduro and help

Analysis-Drug giants eye China for deals despite growing Sino-US tensions

By Andrew Silver and Kane Wu SHANGHAI/HONG KONG (Reuters) - Some of the biggest global drugmakers, undeterred by mounting Sino-U.S. tensions, are scouring for deals in China to replenish drug pipelines and boost their presence in the world's second-biggest pharmaceutical market, industry executives and investment bankers said. Several major deals have already been completed this year, including

India boosts spending on job creation, rural areas in first budget after election

By Sarita Chaganti Singh and Nikunj Ohri NEW DELHI (Reuters) -India struck a balance between greater spending on jobs and rural development while narrowing the fiscal deficit in its 2024-25 budget unveiled on Tuesday, after last month's election setback for the government. Analysts blamed distress in rural areas and a weak job market for a poor poll showing that cost Prime Minister Narendra

An Asian city is named the safest destination in the world for travelers

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Boeing resumes deliveries of 737 MAX airplanes to China

(Reuters) - Boeing said on Tuesday it has resumed deliveries of its best-selling 737 MAX airplane to China after a lengthy delay stemming from regulatory issues. Reuters reported on May 22 that Boeing's plane deliveries to China had been delayed in recent weeks due to a Chinese regulatory review of batteries powering the cockpit voice recorder. In late June, Boeing restarted wide-body jet

US business equipment borrowings fall 4% in June, ELFA says

(Reuters) - U.S. companies borrowed 4% less to finance equipment investments in June than a year ago, industry body Equipment Leasing and Finance Association (ELFA) said on Tuesday. New loans, leases and lines of credit signed up by companies in June were down 2% from $10.20 billion a month ago. ELFA, which reports economic activity for the more than $1-trillion equipment finance sector, said

China's CSI 300 leads declines in Asia amid mixed trading in the region; India markets fall after budget

India's Nifty 50 and the BSE Sensex were both down nearly 0.8% after the country unveiled its first budget under Prime Minister Narendra Modi's third five-year term.

Bridgerton and Baby Reindeer drive Netflix sign-ups

Netflix added more than 8 million subscriptions in the quarter, nearly double analyst expectations.

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GE Aerospace lifts 2024 outlook; cuts estimates for LEAP jet engine deliveries

By Rajesh Kumar Singh and Shivansh Tiwary (Reuters) - GE Aerospace on Tuesday raised its full-year profit outlook for a second time in four months, but trimmed its revenue outlook and estimates for LEAP jet engine output this year due to persistent supply constraints. Its shares were up more than 6% at $172.87 in morning trade. The company said shortages of materials have hit shipments of

CrowdStrike shares hit again as IT disruption continues

Shares in the cybersecurity firm drop a further 12% after last week's global IT outage.

Airbus and Boeing snap up deals despite delivery delays

By Joanna Plucinska and David Shepardson FARNBOROUGH, England (Reuters) -More plane orders flowed in at the Farnborough Airshow on Tuesday despite supply chain pressures on jetmakers and complaints from airlines about delivery delays. Boeing announced deals with Qatar Airways and Macquarie Airfinance, while Airbus secured orders from Japan Airlines and Virgin Atlantic - although much of the

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Analysis-Volkswagen is reeling in China. Can EVs help it grow in the US?

By Victoria Waldersee and Joseph White BERLIN (Reuters) -When Volkswagen Group last month invested $5 billion in U.S. electric truck-and-SUV maker Rivian, the startup's shares soared on the cash infusion. And Volkswagen's stock dropped 1.6%. Some analysts praised the creation of a Volkswagen-Rivian joint venture to help the German giant with software. But the investment raised cost concerns and

13 Streaming TV Services That Cost $20 a Month — or Less

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Analog chipmaker TI beats second-quarter profit estimates

(Reuters) - Texas Instruments beat second-quarter profit estimates on Tuesday, as demand for analog chips stabilized from markets such as personal electronics after a years-long glut fueled by stockpiling during the pandemic. The company reported earnings of $1.22 per share for the second quarter, compared to analysts' average estimate of $1.16, according to LSEG data. (Reporting by Arsheeya

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Forvia and BYD to bring Asian partnership to Europe

By Nathan Vifflin ((Reuters)) - The world's seventh largest car parts supplier Forvia will bring its partnership with Chinese battery specialist and car maker BYD to Europe, it said on Tuesday. Forvia said the two companies will operate together in BYD's new factory in Hungary, as an extension of their current partnership in Asia. "Our collaboration has already resulted in significant

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Cheap deliveries swamp UPS earnings, sending shares reeling

By Lisa Baertlein, Ananta Agarwal and Arriana McLymore (Reuters) - United Parcel Service lowered its 2024 operating margin target on Tuesday, after new e-commerce customers - identified by industry experts and shoppers as Shein and Temu - flooded its network with slower, lower-profit shipments. Shares of the world's biggest package delivery firm tumbled 13% in midday trading and pulled shares of

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US FTC looking into targeted pricing based on personal data

By Jody Godoy (Reuters) - The U.S. Federal Trade Commission has launched a study of products that could allow companies to set different prices for consumers based on their locations, past purchases, and other personal data. The agency said on Tuesday it had ordered Mastercard, JPMorgan Chase, and six other companies to provide information about targeted pricing products, the data they use, who

India's Modi spends billions on jobs, key allies in first budget after election

By Sarita Chaganti Singh, Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) -India unveiled spending of billions of dollars to create new jobs and satisfy key coalition partners in the first budget by Prime Minister Narendra Modi's government after an election setback, aiming to win back voters and retain political support. Among a host of tax changes were an increased levy on equity

Estee Lauder names Akhil Shrivastava as CFO

(Reuters) - Estee Lauder said on Tuesday insider Akhil Shrivastava will succeed Tracey Travis as the MAC lipstick maker's finance chief, following her decision to retire after 12 years in the role. Shrivastava will assume his new role effective Nov. 1, and Tracey will remain at the company until her retirement on June 30, 2025, to support a seamless transition, the company said. Before joining

Hospital operator HCA lifts annual profit forecast on strong demand

(Reuters) -HCA Healthcare raised its annual profit forecast on Tuesday, after beating Wall Street estimates for second-quarter earnings, sending shares of the hospital operator up more than 7% before the bell. Over the past year, demand for medical care has been robust as Americans, especially older adults, catch up on non-urgent procedures they had deferred due to the pandemic. Some analysts

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Leonardo sees fighter jet project surviving UK defence review

By Joe Brock FARNBOROUGH, England (Reuters) - A British defence policy review will not derail a multibillion- dollar fighter jet programme being developed by Italy, Japan and the United Kingdom, according to an executive at Leonardo, one of the firms working on the project. Britain's BAE Systems, Japan's Mitsubishi Heavy Industries and Italy's Leonardo are developing the Global Combat Air

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Toyota to launch $5.16 billion tender offer for own shares

TOKYO (Reuters) -Toyota Motor said on Tuesday it would launch an 807 billion yen ($5.16 billion) tender offer for its own shares. The buyback comes amid a governance push by the Tokyo Stock Exchange that has prompted major companies to unwind cross-shareholdings. The practice of companies holding shares in each other has long been seen as a way to reinforce business ties in Japan. But governance

Moody's raises 2024 profit forecast above estimates on robust demand for analytics

(Reuters) - Ratings agency Moody's Corp raised its forecast for full-year adjusted profit above Wall Street estimates, driven by strong demand for its research and analytics products. Hopes of a rate cut amid cooling inflation and firming bets of the U.S. avoiding a recession have prompted investors to spend more on products that enable better investment decisions, helping firms such as Moody's

HCA Healthcare raises annual profit forecast on strong demand for medical care

(Reuters) - HCA Healthcare raised its annual profit forecast on Tuesday, after beating Wall Street estimates for quarterly earnings, sending shares of the hospital operator up nearly 7% before the bell. Hospitals are expected to benefit from healthy demand for medical care. Over the past year, demand has been robust as Americans, especially older adults, schedule non-urgent procedures they had