By Jonathan Stempel (Reuters) -A federal appeals court on Tuesday refused to hold five major technology companies liable over their alleged support for the use of child labor in cobalt mining operations in the Democratic Republic of the Congo. In a 3-0 decision, the U.S. Court of Appeals for the District of Columbia ruled in...
German pharmaceutical and biotechnology major Bayer AG reported Tuesday a surge in its fourth-quarter net profit benefited by weak expenses. Meanwhile, sales were hurt by lower Pharmaceuticals sales, despite growth in Crop Science and consumer Health segments. Further, the company trimmed its dividend, and said it sees lower adjusted earnings and nearly flat sales in...
(Reuters) -Alphabet\'s Waymo said on Tuesday it will begin driverless passenger services for its employees in Austin, Texas starting Wednesday. Waymo is pulling ahead with its expansion plans at a time when its key rival Cruise, owned by General Motors (NYSE:GM), has suspended U.S. operations in the wake of a pedestrian-dragging accident. The company said...
While reporting financial results for the fourth quarter on Tuesday, discount retailer Target Corp. (TGT) maintained provided earnings, adjusted earnings and comparable sales guidance for the first quarter and the full-year 2024. For the first quarter, the company expects earnings and adjusted earnings in the range of $1.70 to $2.10 per share on a comparable...
(Reuters) - Ross Stores (NASDAQ:ROST) forecast annual profit and same-store sales below Wall Street estimates on Tuesday as budget-conscious consumers cut back on discretionary spending amid sticky inflation. Lower-income customers, whose household budgets have shrunk due to higher pricing pressures, have been compelled to hit a pause on even cheaper non-essential items and limit purchases...
The U.S. dollar depreciated against its major counterparts in the New York session on Tuesday, as weaker-than-expected ISM services PMI for February increased chances of a rate cut in June. The ISM said its services PMI fell to 52.6 in February after climbing to 53.4 in January. While a reading above 50 still indicates growth,...
By Jonathan Stempel (Reuters) - X, the social media platform owned by Elon Musk, on Tuesday won the dismissal of most of a lawsuit by 17 music publishers that accused it of infringing copyrights on nearly 1,700 songs by letting people post music online without permission. U.S. District Judge Aleta Trauger in Nashville, Tennessee said...
European stocks closed lower on Tuesday as concerns about the outlook for global economic growth amid disappointment from the lack of fresh stimulus from China and uncertainty about the timeline for interest rate cuts rendered the mood cautious. Investors also digested the latest batch of economic data from Europe and U.S., in addition to reacting...
-- U.S. stock index futures steadied in evening deals on Tuesday as Wall Street nursed a sharp fall from record highs, with focus turning squarely to an upcoming testimony by Federal Reserve Chair Jerome Powell. A mix of profit-taking, particularly in the technology sector, and anxiety over U.S. interest rates, was the key driver of...
The Switzerland market ended marginally down on Tuesday after a choppy session as investors refrained from making significant moves ahead of crucial economic events in the U.S. and Europe. The benchmark SMI, which moved between 11,447.89 and 11,504.02, ended with a loss of 14.06 points or 0.12% at 11,463.74. Kuehne & Nagel ended nearly 2%...