Price Hikes Propel Danone’s Fourth Quarter Sales Above Estimates
Shares in Danone SA (EPA:DANO) rose on Wednesday after the French food products group reported better-than-expected fourth quarter sales that were fueled by higher prices. Total sales during the three months to the end of December jumped by 12% on a reported basis to...
Hyundai Motor Finalises $5 Billion US Battery Venture, Doubles Q1 Profit
South Korea’s Hyundai Motor Co said on Tuesday it had finalized a $5 billion electric vehicle (EV) battery joint venture in the U.S., as it reported first-quarter net profit had more than doubled, exceeding expectations. Hyundai and partner SK On, a battery unit of...
Toshiba Cuts Full-Year Profit Estimate, COO Resigns
Japan's Toshiba (OTC:TOSYY) Corp on Tuesday reported an 87.5% drop in third-quarter operating profit and cut its full-year earnings estimate for a second time. It also said Chief Operating Officer Goro Yanase had resigned over the inappropriate use of entertainment expenses in 2019 when...
Soils of War: The Toxic Legacy For Ukraine’s Breadbasket
When Ukraine recaptured Kherson in November, Andrii Povod returned to find his grain farm in ruins. Two tractors were missing, most of the wheat was gone and all 11 buildings used to store crops and machinery had been bombed and burned. The farm bears...
Exclusive-Accounting For War: Ukraine’s Climate Fallout
The war in Ukraine is deepening the climate crisis at time when global greenhouse gas emissions are already running at a record high, according to report by carbon accounting experts who have tallied the overall impact of the conflict. The report, which is due...
Palantir Posts First Quarterly Profit Following New Contract Wins
Palantir (NYSE:PLTR) reported its first-ever quarterly profit, as well as a top- and bottom-line beat in the final three months of 2022, as a ramp-up in customers bolstered performance. On a GAAP basis, the U.S.-based data analytics company posted net income of $31 million...
Volkswagen to Invest $193 Billion Over 5 Years To Hit EV Target
Volkswagen (ETR:VOWG_p) plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to fall from 2025. As it works toward a target...
Hackers Who Breached ION Say Ransom Paid; Company Declines Comment
The hackers who claimed responsibility for a disruptive breach at financial data firm ION say a ransom has been paid, although they declined to say how much it was or offer any evidence that the money had been handed over. ION Group declined to...
Asian Stocks Edge Past Weak Economic Signals, Chinese Shares Lag
Most Asian stocks rose slightly on Wednesday as markets weighed worsening economic conditions in the region against the prospect of a pause in the Federal Reserve’s rate hike cycle this month. But China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes lagged their peers,...
Asian Stocks Muted Amid Fed Fears, China Buoyed By Stimulus Hopes
Most Asian stocks kept to a tight range on Monday as markets awaited more cues on monetary policy from a slew of Federal Reserve events this week, while Chinese stocks rose sharply on the prospect of more stimulus spending by the government. China’s Shanghai...