LONDON—The dollar held just below a 16-month high versus the euro on Tuesday, while the yuan reached its strongest in more than five months as markets welcomed dialogue between the U.S. President and Chinese leader. U.S. President Joe Biden and Chinese leader Xi Jinping stressed their responsibility to the world to avoid conflict, in talks…
Dollar Near 16-Month High Versus Euro Ahead of US Retail Sales Data
November 16, 2021
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Tyson Foods Sees Upbeat Sales as Meat Prices, Restaurant Demand Jump
November 15, 2021
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Top U.S. meatpacker Tyson Foods Inc. beat quarterly profit estimates on Monday and forecast fiscal 2022 revenue above market expectations on rising meat prices and improving demand from restaurants that have reopened after COVID-19 restrictions. The Springdale, Arkansas-based company reported a double-digit jump in sales and earnings in the fiscal fourth-quarter ended Oct. 2. “We…
China Vehicle Sales Fall 9.4 Percent in October: Industry Body
November 10, 2021
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BEIJING—China’s auto sales fell in October for a sixth consecutive month, slumping 9.4 percent from a year earlier, industry data showed on Wednesday, as a prolonged global shortage of semiconductors disrupts production. Overall sales in the world’s biggest car market were 2.33 million vehicles in October, data from the China Association of Automobile Manufacturers (CAAM)…
Japanese Carmakers’ Chinese Sales Tumble in October
November 5, 2021
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BEIJING—Japanese automakers Honda Motor Co., Nissan Motor Co., and Toyota Motor Corp.’s sales in China tumbled again in October as a microchip shortage hit vehicle production in the world’s biggest car market. Honda said it sold 148,377 vehicles in China last month, down 18 percent from a year earlier, while Nissan said it sold 113,876…
Bottler Coca Cola HBC to Step Up Marketing Push After Strong Q3 Sales
Coca Cola HBC will step up investment in marketing next year, Chief Executive Zoran Bogdanovic said on Wednesday, after the bottler posted higher third-quarter sales as people returned to visiting restaurants and pubs. With input cost pressures high, the Switzerland-based company will also implement further “slight” price increases in the fourth quarter and 2022, it…
Chevron Posts Highest Profit in 8 Years on Surging Oil, Gas Prices
HOUSTON—Chevron Corp on Friday posted its highest quarterly profit in eight years on surging oil and gas prices, higher output, and a recovery in motor fuel demand that boosted refining margins. The strong results for the No. 2 U.S. oil producer came a day after U.S. lawmakers grilled top executives of major oil companies over…
Exxon Posts Strongest Results Since 2017, Pledges to Resume Share Buybacks
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts’ estimates. The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents, with results lifted by oil and gas prices that have…
Huawei Revenue Slides in Q3 as Smartphone Business Remains Crippled
SHENZHEN, China—Revenue of China’s Huawei Technologies Co. Ltd. plummeted 38 percent in the third quarter compared to the same period a year earlier, with U.S. sanctions having hobbled its smartphone business and new potential growth areas still in their infancy. The Chinese telecoms giant posted revenue of 455.8 billion yuan ($71.32 billion) for the first…
Move Over Apple, Microsoft Now the World’s Most Valuable Company
Apple Inc. lost its crown as the world’s most valuable public company to Microsoft Corp. on Friday, as the iPhone maker’s shares continued their downward slide. Apple took a $6 billion hit to its sales during the fiscal fourth quarter due to a nagging global supply chain problem, leading to a miss on Wall Street…
Carlyle Q3 Earnings Jump Fivefold on Record Asset Sales
NEW YORK—Carlyle Group Inc. said on Thursday its third-quarter distributable earnings jumped nearly fivefold, driven by record asset sales mostly in its private equity portfolio. Distributable earnings reached a record $731 million, up from $152 million a year earlier. Carlyle reported after-tax distributable earnings per share of $1.54, which exceeded the average Wall Street analyst…
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