By Savyata Mishra (Reuters) – Kraft Heinz (NASDAQ:) adjusted its annual forecasts for organic sales and profit on Wednesday due to repeated price hikes impacting demand for the company’s branded products such as Lunchables meal kits and Oscar Mayer cold cuts. Shares of the company fell more than 3% before the market opened, as it … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BP reported its lowest quarterly profit since the onset of the Covid-19 pandemic, with reduced oil prices and weak refining margins impacting its performance. The FTSE 100 energy giant generated underlying profits of $2.27bn in … Read more
Former President Trump vowed Saturday to slash U.S. energy costs in half if he is re-elected, seizing on oil and gas policies to draw a sharp contrast with Kamala Harris in the crucial swing state of Pennsylvania. Speaking to voters at a rally in State College, Trump vowed to lift the U.S. pause on U.S. … Read more
Google Flights has introduced a new feature that could assist travelers in finding deals on flights. A new “Cheapest” tab option on Google Flights will display users the lowest flight prices, whether it is through a third-party or a nearby airport in a different city. “We’ve traditionally shown the best options for your trip based … Read more
A Democratic senators group criticized McDonald’s for its price hikes and its “dominant market position” as the biggest fast-food chain nationwide. In a letter to McDonald’s leadership, Sens. Elizabeth Warren (Mass.), Bob Casey (Pa.), and Ron Wyden (Ore.) demanded explanations from President and CEO Chris Kempczinski regarding what they believe are inflated prices, taking into … Read more
Investing.com – European stock markets started the new week on a subdued note, edging lower as investors focus on the future path of interest rates and the ongoing third-quarter earnings season. In Germany, the DAX traded 0.2% lower, while the CAC 40 in France fell 0.1% and the FTSE 100 in the U.K. dropped 0.1%. … Read more
By Colleen Howe BEIJING (Reuters) – Oil prices stabilized at the beginning of the week after experiencing a more than 7% decline last week due to concerns about demand in China, the world’s largest oil importer, and a reduction in worries about potential supply disruptions in the Middle East. Crude oil futures increased by 8 … Read more
A sell-off in Treasuries has strengthened the dollar and left equities mixed as new signs of economic strength have led traders to lower their expectations for US rate cuts. In Japan, shares rose with the help of a weaker yen, while equities in Australia and South Korea fell. US futures remained flat after the S&P … Read more
Global economies face a period of lackluster growth and pressure from rising debt piles, the head of the International Monetary Fund (IMF) has warned. In an assessment that may chime with Chancellor Rachel Reeves as she ponders her first budget, managing director Kristalina Georgieva warned that growth will not deliver the tax revenues required to … Read more
By Florence Tan SINGAPORE (Reuters) – Oil prices edged up on Friday, supported by a surprise drop in U.S. oil inventories and simmering Middle East tensions, but prices were on track for their largest weekly decline in over a month due to concerns of reduced demand. Crude futures climbed 16 cents, or 0.2%, to $74.61 … Read more