Procter & Gamble Co’s quarterly sales and profit best market estimates, as price increases on everything from Head & Shoulders shampoo to Tide detergent helped offset the impact of higher raw material costs and a stronger dollar. Shares of the Cincinnati, Ohio-based consumer goods conglomerate rose nearly 3% in morning trading, as the company maintained its full-year…
Nokia disclosed a quarterly operating profit that fell short of market expectations on Thursday, despite the fact that the Finnish telecom equipment maker continues to gain from strong demand from phone companies as they roll out 5G networks. Third-quarter comparable operating profit increased to 658 million euros ($643.3 million) from 633 million last year, falling…
Ericsson, the Swedish telecom equipment maker, reported third-quarter core earnings that fell short of expectations for the second quarter in a row, as margins were dragged down by higher component and logistics costs. According to Refinitiv data, the company’s quarterly adjusted operating earnings fell to 7.1 billion Swedish crowns ($633.05 million) from 8.8 billion crowns…
According to federal data, Tesla topped registrations of battery-electric vehicles in Germany in the first nine months of this year, with nearly 38,500 vehicles, beating the Volkswagen brand by around 6,000 vehicles. Tesla’s battery-electric registrations increased nearly 50% from January to September of last year, while Volkswagen’s dropped 40% to just over 32,300, in line…
On Tuesday, Oracle Corp and Nvidia Corp announced an expansion of their partnership and the addition of tens of thousands of Nvidia chips to boost artificial intelligence-related computational work in Oracle’s cloud. The expanded partnership comes as more companies use AI and AI models become more complex, necessitating increased investments in data center infrastructure. While…
When Netflix Inc reports third-quarter results on Tuesday, the streaming pioneer is expected to launch an ad-supported plan in order to compete with rivals such as Disney+ and HBO Max. Netflix announced last week that it would launch the plan in November for $6.99 per month, much sooner than its previous estimate of early 2023…
Auto giant Hyundai Motor of South Korea is considering options for its suspended Russia operations, which could include selling its manufacturing plant there, according to South Korean media on Tuesday. Since Moscow sent armed forces into Ukraine on February 24, many Russian factories have suspended production and furloughed workers due to a lack of high-tech…
Bank of America Corp reported a smaller-than-expected 9% drop in quarterly profit on Monday, as rising interest rates helped offset a slump in investment banking. The aggressive tightening of monetary policy by the United States Federal Reserve this year to combat inflation has increased the amount that banks can earn from charging interest on loans…
On Monday, more than 40 European competitors to Google’s shopping service urged EU antitrust regulators to use newly adopted tech rules to ensure Alphabet unit complies with a 2017 EU order to allow more competition on its search page. Google was fined 2.4 billion euros ($2.33 billion) by the European Commission five years ago and…
On Friday, Citigroup Inc reported a 25 per cent drop in third-quarter profit as the most global of US banks set aside funds to cover soured loans from a potential economic downturn, while its investment bank struggled with a slump in global dealmaking. The aggressive actions of the United States Federal Reserve to combat decades-long…
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