Several Chinese steel mills have received instructions to cap this year’s output at the same level as 2022, five people familiar with the matter and analyst reports said on Tuesday, potentially curbing iron ore demand in the world’s top steel market.
The Bank of England will raise its Bank Rate by a quarter-point to 5.25% on August 3, making borrowing the costliest since early 2008, and hike twice more by the year-end as price pressures persist, a Reuters poll showed.
Moody’s Corporation beat Wall Street estimates for second-quarter revenue on Tuesday, helped by steady demand from investors for its data, analytics and research services.
Unilever, which has faced criticism for over a year for remaining in Russia, said on Tuesday that it could abandon, sell or retain its operations there but the “least bad” option is to “pursue our business but in a highly constrained manner”.
PulteGroup Inc beat Wall Street estimates for second-quarter profit and revenue on Tuesday, as strong demand for affordable housing and tight resale inventory boosted new home sales.
Kimberly-Clark Corp raised its full-year sales and profit forecasts on Tuesday, as the maker of Kleenex tissues and KleenGuard benefits from price increases and resilient demand for essential products.
Alaska Air Group on Tuesday forecast its annual revenue below estimates on early signs of cooling ticket prices, sending its shares down 6.3% in premarket trading.
Archer-Daniels-Midland beat Wall Street expectations for second-quarter profit on Tuesday, as the grain trader and processor benefited from tight global supplies and robust demand for grains and oilseeds.
Biogen Inc said on Tuesday it expects to slash about 1,000 jobs, or about 11% of its workforce, under a fresh cost-cutting program as the company ramps up the launch of a new Alzheimer’s disease drug in efforts to return to growth.
