Jan 31 Reuters Qualcomm on Wednesday forecast fiscal secondquarter profit slightly above Wall Street estimates and sales in line with market expectations but investors were concerned about the chip maker39;s Android sales in China. The sales outlook reflects interest in new Qualcomm chips with features designed to help run chatbots, image generators and other artificialintelligence features […]

STOCKHOLM, Feb 1 Reuters Volvo Cars said on Thursday it would stop funding Polestar Automotive Holding and was handing responsibility for the struggling luxury car brand over to Volvo39;s top shareholder China39;s Geely Holding. The announcement sent the Swedish automaker39;s stock up more than 30 at market open. The heavy involvement by Swedishlisted Volvo Cars in […]

To cut just under 4 of workforce, back office roles affected Q4 profit drops 30 but beats expectations Buybacks and dividends to total 1.6 bln euros Shares rise 4 FRANKFURT, Feb 1 Reuters Deutsche Bank said on Thursday it would cut 3,500 jobs, buy back shares and pay dividends, in its latest pitch to investors that […]

Boeing will 39;go slow39; as it deals with panel blowout aftermath Posts fourthquarter revenue of 22 bln Does not offer financial forecast for 2024 Shares extend gains, last up 6.1 Reuters Boeing Co executives on Wednesday stood by their financial targets for 20252026 and said the company is working hard to regain the confidence of regulators […]

LONDON, Feb 1 Reuters Shell on Thursday reported a 2023 profit of 28 billion, down 30 from the previous year39;s record as oil and gas prices cooled, still allowing the firm to increase its dividend by 4 and extend its share repurchases. Shell posted fourthquarter adjust earnings, its definition of net profit, of 7.3 billion, exceeding […]

LONDON, Feb 1 Reuters Miner and trader Glencore on Thursday reported lower copper, nickel and cobalt production in 2023 and signalled a further decline in output this year. The Londonlisted company reiterated its expectation that 2023 profits from its trading division would be 3.5 billion, above its longterm guidance range between 2.2 billion and 3.2 billion. […]

BERLIN, Feb 1 Reuters German medical equipment maker Siemens Healthineers on Thursday posted firstquarter revenue above expectations and an operating result in line with consensus, driven by its U.S. cancer treatment unit Varian. It said Varian39;s revenue improved most in China after sales had been affected by supply chain delays in the prioryear period. Adjusted earnings […]

Jan 31 Reuters Austrian oil and gas company OMV has agreed to sell its 50 stake in the Malaysianheadquartered SapuraOMV to French energy group TotalEnergies for 903 million, OMV and TotalEnergies said in statements on Wednesday. The payment includes the transfer of a 350 million loan granted by OMV to SapuraOMV, the companies added. The transaction is […]

Jan 31 Reuters Amer Sports raised 1.37 billion in a discounted U.S. initial public offering IPO on Wednesday, after investors expressed concerns about its growing reliance on China for its revenue. It was another blow to the U.S. IPO market seeking to recover after two years of subdued activity. A poor performance from Amer Sports could […]

LONDON, Feb 1 Reuters Adidas deliveries to retailers are being delayed by Red Sea shipping disruptions, the CEO of the sportswear company told analysts on Thursday, adding that soaring freight rates are weighing on gross margins. Shipments are currently delayed by about three weeks, CEO Bjorn Gulden said, and that is causing some delivery issues, […]