By Aatrayee Chatterjee (Reuters) -Costco Wholesale fell short of Wall Street estimates for quarterly sales on Thursday due to tepid demand for higher margin goods, pulling its shares down 5% in extended trading. With elevated day-to-day costs hammering household budgets, customers have kept a tight lid on their spending, particularly for big-ticket non-essential purchases such […]

By Savyata Mishra (Reuters) -Campbell Soup edged past market estimates for quarterly sales and profit on Wednesday and stuck to its annual forecasts, helped by higher prices and steady demand for its branded, ready-to-eat meals and cookies, sending its shares up 2% in early trade. Prices across Campbell’s products rose 1%, while overall volumes dipped […]

By Lucia Mutikani WASHINGTON (Reuters) – U.S. services industry growth slowed a bit in February amid a decline in employment, but a measure of new orders increased to a six-month high, pointing to underlying strength in the sector. Despite the weakness in employment, comments from services businesses in the Institute for Supply Management (ISM) survey […]

By Laura Sanicola (Reuters) – The United States may sell its 1 million barrel Northeast gasoline reserve in fiscal year 2024, according to the draft text of a funding bill released on Sunday. The reserve, first established in 2014 after Superstorm Sandy left motorists in the northeastern United States without fuel, is located in New […]

By Lucia Mutikani WASHINGTON (Reuters) – U.S. prices accelerated in January amid a surge in the costs of services like housing and finance, but the annual increase in inflation was the smallest in three years, keeping a mid-year interest rate cut from the Federal Reserve on the table. The report from the Commerce Department on […]

By Marie Mannes STOCKHOLM (Reuters) – Polestar said on Wednesday it had raised a $950 million loan from a bank syndicate, helping to fill a gap left when Volvo Cars said it would stop funding the electric carmaker, sending its New York-listed shares 18.5% higher. Polestar also forecast double-digit gross profit margins by the end […]

By Deborah Mary Sophia (Reuters) -Lowe’s Cos on Tuesday joined larger rival Home Depot in signaling a slower recovery in the home-improvement market as consumers remain tight-fisted against the backdrop of sticky inflation and uncertainty over the economy’s prospects. Investors were betting on a more normalized U.S. home improvement environment this year after 2023 was […]

By Andrea Shalal, Bernardo Caram and Leika Kihara SAO PAULO/BRASILIA/TOKYO (Reuters) -With their countries deeply divided over Israel’s attacks on Gaza, finance officials from the Group of 20 major economies are poised to set aside geopolitics and focus on global economic issues when they meet in Sao Paulo, Brazil this week. Brazil, keen to ensure […]

By Patrick Wingrove and Leroy Leo (Reuters) -Moderna on Thursday reported a surprise fourth-quarter profit, helped by cost cutting and deferred payments, and set out a commercial roadmap for its vaccines in Europe and experimental respiratory syncytial virus (RSV) shot. Shares jumped 8% to $94.65 in early trading, still well off the record high of […]