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Markets mixed as tech boosts US stock futures, Europe dips

Markets mixed as tech boosts US stock futures, Europe dips

By Naomi Rovnick LONDON (Reuters) – Global stock markets were mixed on Wednesd..

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Apr 26, 2023 · 4 min read

Elevator maker Kone hikes outlook as Q1 profit, orders beat forecasts

Elevator maker Kone hikes outlook as Q1 profit, orders beat forecasts

(Reuters) -Finnish elevator maker Kone raised its 2023 sales outlook on Wednesday af..

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Apr 26, 2023 · 2 min read

Companies’ cost inflation is slowing but shoppers may wait for lower prices

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 c..

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Apr 26, 2023 · 4 min read

Tech CEOs wax poetic on AI, big adds to sales will take time

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 Alpha..

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Apr 26, 2023 · 4 min read

Sacyr shortlists four bidders for its service, waste management unit – Expansion

Sacyr shortlists four bidders for its service, waste management unit – Expansion

MADRID (Reuters) – Spanish conglomerate Sacyr has shortlisted four firms as po..

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Apr 26, 2023 · 1 min read

Startup e-commerce platform Temu expands to Europe

Startup e-commerce platform Temu expands to Europe

By Casey Hall SHANGHAI (Reuters) – Ultra low-cost e-commerce platform Temu, ow..

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Apr 26, 2023 · 2 min read

Beiersdorf benefits from bump in Nivea sales

Beiersdorf benefits from bump in Nivea sales

(Reuters) -Beiersdorf’s Nivea brand recorded 18% sales growth in the first qua..

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Apr 26, 2023 · 1 min read

Puma expects Q2 sales growth below full-year target

Puma expects Q2 sales growth below full-year target

(Reuters) – German sportswear maker Puma on Wednesday said it expected second-..

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Apr 26, 2023 · 2 min read

Mercedes-Benz launches E-Class, its last new combustion engine model

Mercedes-Benz launches E-Class, its last new combustion engine model

BERLIN (Reuters) – Mercedes-Benz on Tuesday launched its last new combustion e..

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Apr 25, 2023 · 2 min read

Spotify’s monthly active users top 500 million, beat estimate

Spotify’s monthly active users top 500 million, beat estimate

By Supantha Mukherjee STOCKHOLM (Reuters) -Spotify Technology SA has crossed the hal..

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Apr 25, 2023 · 2 min read

Kremlin remains downbeat on state of Black Sea grain deal

Kremlin remains downbeat on state of Black Sea grain deal

(Reuters) – The Kremlin reaffirmed its position on Tuesday that the Black Sea ..

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Apr 25, 2023 · 2 min read

BoE’s Broadbent says QE not to blame for surge in inflation

BoE’s Broadbent says QE not to blame for surge in inflation

LONDON (Reuters) -Bank of England (BoE) Deputy Governor Ben Broadbent said central b..

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Apr 25, 2023 · 3 min read

Anglo American’s first-quarter copper output rises 28%

Anglo American’s first-quarter copper output rises 28%

LONDON (Reuters) -Anglo American’s overall first-quarter production rose 9% fr..

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Apr 25, 2023 · 2 min read

KitKat sweetens Nestle sales with Easter, Valentine’s Day comeback

KitKat sweetens Nestle sales with Easter, Valentine’s Day comeback

By Richa Naidu LONDON (Reuters) – In a quarter that saw Nestle’s overall..

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Apr 25, 2023 · 2 min read

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)

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 mon..

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Apr 25, 2023 · 2 min read

Recruiter Randstad beats Q1 earnings estimates despite hiring slowdown

Recruiter Randstad beats Q1 earnings estimates despite hiring slowdown

(Reuters) -Dutch recruitment firm Randstad reported better-than-expected first-quart..

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Apr 25, 2023 · 2 min read

ABB dispels industrial gloom to raise full-year outlook

ABB dispels industrial gloom to raise full-year outlook

ZURICH (Reuters) -ABB Ltd raised its full-year outlook for sales and profit outlook ..

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Apr 25, 2023 · 2 min read

Tiffany, now owned by LVMH, reopens on a Fifth Avenue in flux

Tiffany, now owned by LVMH, reopens on a Fifth Avenue in flux

NEW YORK (Reuters) – The splashy reopening of Tiffany & Co’s flagship stor..

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Apr 25, 2023 · 4 min read

Oil prices steady on uncertain global outlook and supply concerns

Oil prices steady on uncertain global outlook and supply concerns

By Noah Browning LONDON (Reuters) – Oil prices were steady on Monday as concer..

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Apr 24, 2023 · 2 min read

Britain sets up $125 million taskforce to drive AI

Britain sets up $125 million taskforce to drive AI

LONDON (Reuters) – Britain on Monday announced 100 million pounds ($124.5 mill..

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Apr 24, 2023 · 1 min read

Climate change fight a ‘core duty’ for central banks – ECB’s Villeroy

Climate change fight a ‘core duty’ for central banks – ECB’s Villeroy

LONDON (Reuters) – France’s central bank governor François Villeroy de G..

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Apr 24, 2023 · 3 min read

German economy likely grew in Q1, beating expectations – Bundesbank

German economy likely grew in Q1, beating expectations – Bundesbank

FRANKFURT (Reuters) – The German economy is likely to have expanded in the las..

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Apr 24, 2023 · 2 min read

Bitcoin could hit $100,000 by end-2024, Standard Chartered says

Bitcoin could hit $100,000 by end-2024, Standard Chartered says

By Elizabeth Howcroft LONDON (Reuters) – Top cryptocurrency bitcoin could reac..

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Apr 24, 2023 · 1 min read

Factbox-Europe’s ongoing strike-related travel disruptions

Factbox-Europe’s ongoing strike-related travel disruptions

(Reuters) – Strikes in Europe could disrupt travel into the summer, as passeng..

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Apr 24, 2023 · 3 min read

PIRC recommends vote for BP climate activist resolution

PIRC recommends vote for BP climate activist resolution

LONDON (Reuters) – Investor advisory firm PIRC on Monday recommended that BP s..

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Apr 24, 2023 · 1 min read

Credit squeeze ‘biggest threat’ to economic outlook, Fidelity International says

Credit squeeze ‘biggest threat’ to economic outlook, Fidelity International says

By Nell Mackenzie PARIS (Reuters) – The biggest threat to the economic outlook..

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Apr 21, 2023 · 3 min read

Dollar heads for first weekly gain since February

Dollar heads for first weekly gain since February

By Amanda Cooper LONDON (Reuters) – The dollar headed for its first weekly gai..

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Apr 21, 2023 · 4 min read

Norway sovereign fund backs Teck Resources in battle with Glencore

Norway sovereign fund backs Teck Resources in battle with Glencore

OSLO (Reuters) -Norway’s sovereign wealth fund, one of the world’s large..

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Apr 21, 2023 · 2 min read

MG Motor launches plug-in hybrid option in Mexico as EV race heats up

MG Motor launches plug-in hybrid option in Mexico as EV race heats up

By Kylie Madry MEXICO CITY (Reuters) – MG Motor is launching a plug-in hybrid ..

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Apr 21, 2023 · 2 min read

Marketmind: Purchasing managers of the world, diverge

Marketmind: Purchasing managers of the world, diverge

A look at the day ahead in European and global markets from Tom Westbrook A month-lo..

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Apr 21, 2023 · 2 min read

Siemens Energy signs 7-billion-eur offshore power deal with TenneT

Siemens Energy signs 7-billion-eur offshore power deal with TenneT

BERLIN (Reuters) – Siemens Energy has won contracts worth almost 7 billion eur..

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Apr 20, 2023 · 2 min read

IKEA plans new U.S. stores in $2.2 billion push to challenge Walmart and Wayfair

IKEA plans new U.S. stores in $2.2 billion push to challenge Walmart and Wayfair

By Helen Reid LONDON (Reuters) – IKEA stores owner Ingka Group will spend 2 bi..

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Apr 20, 2023 · 2 min read

PGE signs wind turbine supply deal for Baltica 2

PGE signs wind turbine supply deal for Baltica 2

GDANSK (Reuters) – Poland’s biggest utility PGE said on Thursday a unit ..

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Apr 20, 2023 · 1 min read

Investors warn big consumer firms over price hikes as competitors gain

Investors warn big consumer firms over price hikes as competitors gain

By Richa Naidu and Jessica DiNapoli LONDON/NEW YORK (Reuters) – Consumer goods..

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Apr 20, 2023 · 3 min read

GSK-spinoff Haleon forecasts 2023 organic revenue growth at top-end of view

GSK-spinoff Haleon forecasts 2023 organic revenue growth at top-end of view

(Reuters) – Consumer healthcare group Haleon expects 2023 organic revenue grow..

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Apr 20, 2023 · 1 min read

Analysis-Crisis radar falls on fault lines in Europe’s commercial property

Analysis-Crisis radar falls on fault lines in Europe’s commercial property

By Chiara Elisei and Dhara Ranasinghe LONDON (Reuters) – European banks appear..

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Apr 20, 2023 · 5 min read

Renault revenues rise 30% in Q1 on higher sales and prices

Renault revenues rise 30% in Q1 on higher sales and prices

PARIS (Reuters) -French car maker Renault said on Thursday revenues had grown by 30%..

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Apr 20, 2023 · 2 min read