Global equity funds recorded outflows for the fourth consecutive week as of April 24, affected by diminishing hopes of rapid Federal Reserve rate cuts this year amid a series of higher-than-expected U.S. inflation readings.
AbbVie raised its annual profit forecast on Friday after strong sales of its immunology drug Skyrizi and cancer drug Imbruvica helped the company beat Wall Street estimates for the first quarter.
Toothpaste maker Colgate-Palmolive raised forecast for annual organic sales growth on Friday, banking on resilient demand for its highly priced self-care and pet nutrition products.
The United Arab Emirates will tender shortly for the construction of a new nuclear power plant that would double the number of the small Gulf state’s nuclear reactors, three sources familiar with the matter said.
U.S. auto safety regulators said Friday they have opened an investigation into whether Tesla’s recall of more than 2 million vehicles announced in December to install new Autopilot safeguards is adequate.
Company insolvencies in England and Wales fell sharply in March and recorded their lowest calendar-quarter total since the third quarter of 2022, official figures showed on Friday.
Shares of Hertz Global slumped 24% and were on track for their sharpest one-day percentage fall on record on Thursday after the company reported a wider-than-expected quarterly loss, highlighting its struggles with the EV rental business.
