Monday, 27 May 2024

Business

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Wall Street gains as investors look to U.S. elections

NEW YORK (Reuters) – Wall Street’s major indexes closed higher on Tuesday as voters headed to the polls in U.S. midterm congressional elections and investors hoped the result would provide some relief for stocks after prolonged uncertainty. Some stocks such as CVS Health Corp (CVS.N) and Mylan NV (MYL.O) were boosted by strong earnings, but […]

Papa John's new advertising blitz helps North America restaurant sales

(Reuters) – Papa John’s International Inc (PZZA.O) on Tuesday reported a smaller-than-expected decline in quarterly comparable sales in North America, helped by new advertising and rebranding as it tries to recover from bad publicity stemming from an acrimonious split with its founder. The Louisville, Kentucky-based company said it now expects full-year North America comparable sales […]

Caution grips European stocks ahead of U.S. mid-term results

LONDON (Reuters) – European shares ended a choppy session in negative territory on Tuesday as investors punished companies like Zalando that missed expectations and remained cautious while waiting for the results of U.S. mid-term elections. The pan-European STOXX 600 and the euro zone’s leading index .STOXX50E both dipped 0.3 percent. “Global stocks are in wait […]

Stocks, dollar hunker down for U.S. midterm elections

LONDON (Reuters) – European shares ticked lower and the dollar and bond markets barely budged on Tuesday, as traders braced for midterm elections in the United States and some potentially lively sessions ahead. Japan [.T] and Hong Kong had helped Asia overcome another Chinese wobble [.SS], but Europe [.EU] slipped into the red early on […]

German manufacturer Schaeffler to shut two UK plants after Brexit

The company, which employs just over 1,000 staff in the country, said uncertainty over the terms of the UK’s future relationship with the EU had helped shape a review of its global interests. Schaeffler announced the decision a week after it issued a profit warning on the basis of “increasing market volatility in the global […]

EU states divided over digital tax, fear U.S. retaliation

BRUSSELS (Reuters) – EU governments are divided over a plan to tax big internet firms like Google and Facebook on their turnover, fearing retaliation from the United States, and could delay its application until a global deal is reached, top officials said on Tuesday. Under a proposal from the EU’s executive Commission in March, EU […]

AIB hits back at loan sale accounting practice claims

AIB has defended its accounting practices after questions were raised in a ‘Financial Times’ report on the bank’s sale of €1.1bn of loans to Cerberus. In its half-year results in July, the bank said the sale had given it a €140m gain on disposal. The ‘Financial Times’ piece questioned whether AIB had used the introduction […]

European shares dip on rate, trade worries

LONDON (Reuters) – European shares eased on Monday as last week’s rebound ran out of steam on investor nervousness over fast-rising U.S. interest rates and Washington’s trade dispute with Beijing. The pan-European STOXX 600 benchmark index fell 0.1 percent with most country indexes also hovering around neutral. Tuesday’s U.S. mid-term elections also kept traders cautious, […]

Amazon plans to split second headquarters in two cities: sources

(Reuters) – Amazon.com Inc is planning to split its second headquarters evenly between two cities, people familiar with the matter said Monday, in a twist to a more than year-long contest that has drawn overtures from locales across North America. Dallas, Long Island City in New York and Arlington near Washington, D.C. are all among […]

Asian shares wobble, investors brace for U.S. elections

TOKYO (Reuters) – Asian shares wobbled on Tuesday, supported by Wall Street gains although sentiment was tempered ahead of the U.S. midterm elections, the first major electoral test of President Donald Trump’s big tax cuts and hostile trade policies. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged down 0.1 percent, weighed by a […]