Banks, miners lead FTSE 100 lower
(Reuters) -London’s FTSE 100 fell for the fifth straight day, as a sharp drop in shares of NatWest weighed on the banking sector..
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Swiss National Bank seeks banking regulation review after Credit Suisse crash
BERN (Reuters) – Swiss banking regulation and supervision must be reviewed following the collapse of Credit Suisse, Swiss Nation..
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German economy skirts recession, but just for now
BERLIN (Reuters) -The German economy stagnated in the first quarter, as a decline in government and household consumption was balanced..
Finance
U.S. officials lead urgent rescue talks for First Republic -sources
By Nupur Anand, Andrea Shalal and Greg Roumeliotis NEW YORK (Reuters) – U.S. officials are coordinating urgent talks to rescue F..
Headlines
German gloom dampens stocks as Fed, ECB meetings beckon
LONDON (Reuters) – A stagnant German economy and sliding yen overshadowed buoyant tech earnings to send shares lower on Friday, ..
Investment
Bosch buys US semiconductor foundry to expand EV chip output
By Joseph White and Stephen Nellis DETROIT (Reuters) – Germany’s Bosch Group has agreed to buy key assets of California ch..
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Essity mulls selling Vinda stake and Consumer Tissue Private Label Europe business
STOCKHOLM (Reuters) – Hygiene products group Essity said on Wednesday it has initiated a strategic review of its stake in China-..
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Markets mixed as tech boosts US stock futures, Europe dips
By Naomi Rovnick LONDON (Reuters) – Global stock markets were mixed on Wednesday as recession fears and banking sector strain we..
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Elevator maker Kone hikes outlook as Q1 profit, orders beat forecasts
(Reuters) -Finnish elevator maker Kone raised its 2023 sales outlook on Wednesday after its first-quarter profit beat market expectati..
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Companies’ cost inflation is slowing but shoppers may wait for lower prices
By Richa Naidu and Dominique Vidalon LONDON/PARIS (Reuters) -The world’s top consumer goods companies, making everything from in..
Headlines
Tech CEOs wax poetic on AI, big adds to sales will take time
By Noel Randewich and Akash Sriram (Reuters) -Microsoft Corp and Google-parent Alphabet Inc talked up investments in artificial intell..
Headlines
Sacyr shortlists four bidders for its service, waste management unit – Expansion
MADRID (Reuters) – Spanish conglomerate Sacyr has shortlisted four firms as potential buyers of its service and waste management..
Headlines
Startup e-commerce platform Temu expands to Europe
By Casey Hall SHANGHAI (Reuters) – Ultra low-cost e-commerce platform Temu, owned by PDD Holdings has started selling to Europea..
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Beiersdorf benefits from bump in Nivea sales
(Reuters) -Beiersdorf’s Nivea brand recorded 18% sales growth in the first quarter of 2023 thanks to price hikes, the German fir..
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Puma expects Q2 sales growth below full-year target
(Reuters) – German sportswear maker Puma on Wednesday said it expected second-quarter sales to grow at a low- to mid-single-digi..
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Mercedes-Benz launches E-Class, its last new combustion engine model
BERLIN (Reuters) – Mercedes-Benz on Tuesday launched its last new combustion engine model – the next generation of the E-C..
Headlines
Spotify’s monthly active users top 500 million, beat estimate
By Supantha Mukherjee STOCKHOLM (Reuters) -Spotify Technology SA has crossed the half billion mark for monthly active users for the fi..
Headlines
Kremlin remains downbeat on state of Black Sea grain deal
(Reuters) – The Kremlin reaffirmed its position on Tuesday that the Black Sea grain deal is not working for Moscow, a day after ..
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BoE’s Broadbent says QE not to blame for surge in inflation
LONDON (Reuters) -Bank of England (BoE) Deputy Governor Ben Broadbent said central banks should not ignore measures of money supply bu..
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Anglo American’s first-quarter copper output rises 28%
LONDON (Reuters) -Anglo American’s overall first-quarter production rose 9% from a year earlier, helped by a 28% jump in copper ..
Headlines
KitKat sweetens Nestle sales with Easter, Valentine’s Day comeback
By Richa Naidu LONDON (Reuters) – In a quarter that saw Nestle’s overall sales volumes dip, the KitKat maker’s candy..
Headlines
Spotify’s monthly active users top 500 million, beat estimate By Supantha Mukherjee STOCKHOLM (Reuters) -Spotify Technology SA has crossed the half billion mark for monthly active users for the first time, helped by the music streaming company’s expansion into more markets, it said on Tuesday, sending its shares up 5%. The number of monthly active users rose to 515 million in the first quarter, beating Spotify’s guidance and analysts’ forecast of 500 million, according to IBES data from Refinitiv. Premium subscribers, who account for most of its revenue, rose 15% to 210 million, topping estimates of 206 million. Its premium subscriber forecast of 217 million for the current quarter also beat expectations of 212 million. The company forecast monthly active users of 530 million. Spotify last year laid out plans to get one billion users by 2030 and reach $100 billion in annual revenue. It also promised high-margin returns from its costly expansion into podcasts and audiobooks. “Spotify is not sort of one silver bullet, but it’s rather 100 or 1,000 things that we are doing that sort of compounds and adds to the story,” CEO Daniel Ek told Reuters. However, the company’s quarterly revenue of 3.04 billion euros ($3.35 billion) missed analyst estimates of 3.08 billion euros, and it posted a bigger loss than expected. “There’s still a kind of a lot of macro choppiness in Q1 so that impacts us a little bit,” Ek said. A lot of subscribers come on free trials, or part of a family plan, and Spotify doesn’t get revenue right away, which starts coming in a quarter later, he said. A soft ad market due to ongoing economic uncertainty has led to lower prices, hitting Spotify’s margins. Gross margin dipped to 25.2% from 25.3% in the year-earlier quarter. Spotify’s current-quarter revenue forecast of 3.2 billion euros also missed expectations of 3.26 billion euros. ($1 = 0.9066 euros) (Reporting by Supantha Mukherjee in StockholmEditing by Niklas Pollard and Mark Potter)
STOCKHOLM (Reuters) -Spotify Technology SA has crossed the half billion mark for monthly active users for the first time, helped by th..
Headlines
Recruiter Randstad beats Q1 earnings estimates despite hiring slowdown
(Reuters) -Dutch recruitment firm Randstad reported better-than-expected first-quarter core earnings on Tuesday, despite a slowdown in..
Headlines
Say goodbye to SQL and hello to human-like conversations with The Brain’s AI-powered no-code BI platform
Former Monzo and Revolut Head of Product, Ilya Vorobiev, launches The Brain to help scaling companies extract and analyse data using c..
Technology
ABB dispels industrial gloom to raise full-year outlook
ZURICH (Reuters) -ABB Ltd raised its full-year outlook for sales and profit outlook on Tuesday after the Swiss engineering and technol..
Headlines
Tiffany, now owned by LVMH, reopens on a Fifth Avenue in flux
NEW YORK (Reuters) – The splashy reopening of Tiffany & Co’s flagship store on the corner of Fifth Avenue and East 57th Stre..
Headlines
Business development trends to boost your company’s growth (2023)
My name is Matt Little, an entrepreneur, and co-owner of co-owner of Damien McEvoy. As an entrepreneur, I’m aware of the importa..
Business
Why are legal technologies a gateway for business success?
The current business landscape is competitive. CEOs must manage social and economic change, while also embracing digital transformati..
Technology
Plasma waters CEO Robert Hardt on connecting science and technology with social and environmental challenges
Food production needs to increase by 70% by 2050 on a global level, according to the Food and Agriculture Organization of ..
Technology
Oil prices steady on uncertain global outlook and supply concerns
By Noah Browning LONDON (Reuters) – Oil prices were steady on Monday as concern over rising interest rates, the global economy a..
Headlines
Britain sets up $125 million taskforce to drive AI
LONDON (Reuters) – Britain on Monday announced 100 million pounds ($124.5 million) in initial funding for a taskforce to help de..
Headlines
Climate change fight a ‘core duty’ for central banks – ECB’s Villeroy
LONDON (Reuters) – France’s central bank governor François Villeroy de Galhau has pushed back against criticism of central..
Headlines
German economy likely grew in Q1, beating expectations – Bundesbank
FRANKFURT (Reuters) – The German economy is likely to have expanded in the last quarter on a rebound in industrial production, t..
Headlines
Bitcoin could hit $100,000 by end-2024, Standard Chartered says
By Elizabeth Howcroft LONDON (Reuters) – Top cryptocurrency bitcoin could reach $100,000 by the end of 2024, Standard Chartered ..
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Factbox-Europe’s ongoing strike-related travel disruptions
(Reuters) – Strikes in Europe could disrupt travel into the summer, as passengers numbers globally recover to pre-pandemic level..
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PIRC recommends vote for BP climate activist resolution
LONDON (Reuters) – Investor advisory firm PIRC on Monday recommended that BP shareholders vote against the company’s chair..
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Credit squeeze ‘biggest threat’ to economic outlook, Fidelity International says
By Nell Mackenzie PARIS (Reuters) – The biggest threat to the economic outlook is a credit squeeze that has not finished filteri..
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