Coca-Cola HBC AG on Tuesday reported better-than-expected full-year operating profit and said it will increase prices this year to tackle an increase in costs. Most companies have hiked prices in a bid to pass on some of these costs to their consumers. Although a cost of living crisis has seen a shift in consumer spending,…
Japan Names Academic Ueda as Next Central Bank Governor
February 14, 2023
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Asia & PacificbankBusiness & MarketsCompanieseconomic policieseconomygovernorinflationJapanMarketsUedaWorld
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TOKYO—Japan’s government named academic Kazuo Ueda as its pick to become next central bank governor, a surprise choice that could heighten the chance of an end to its unpopular yield control policy. Ueda, a 71-year-old former Bank of Japan (BOJ) policy board member, will succeed incumbent Haruhiko Kuroda, whose second, five-year term ends on April…
Ford to Cut 1 in 9 Jobs in Europe in Electric Revamp
BERLIN—Ford plans to cut one in nine jobs in Europe, axing 3,800 roles in product development and administration as part of a drive to lower costs in the region and concentrate engineering know-how in the United States, the automaker said on Tuesday The U.S. carmaker leads the European market for commercial vans, but has struggled…
Tesla Changes US Prices for 4th Time in 2 Months
Tesla has changed prices for one version of each of its Model 3 sedan and Model Y crossover, the fourth price adjustment by the electric vehicle maker since the start of the year. Tesla increased the price of its Model Y performance crossover by $1,000 to $58,990, its website showed. It cut the price of…
Wall Street Slips at Open After Mixed Inflation Data
U.S. stock indexes opened lower on Tuesday after data showed consumer prices accelerated in January but the pace of annual increase slowed, likely keeping the Federal Reserve on a path of moderate interest rate hikes. The Dow Jones Industrial Average fell 51.84 points, or 0.15 percent, at the open to 34,194.09. The S&P 500 opened…
Jobs Figures Send Euro, Sterling Higher; Dollar Slips Before CPI
LONDON—The euro and sterling rose against the dollar as UK basic pay growth sped up and eurozone employment rose more than expected, underlining the resilience and tightness of the labor market across the region. A flash estimate of employment showed the number of people with jobs in the eurozone increased by 0.4 percent quarter-on-quarter, twice…
Oil Prices Dip on US Crude Reserve Release, Inflation Pressure
February 14, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices dipped on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve, while traders look out for U.S. inflation data for further queues. Brent crude futures fell 80 cents, or 0.9 percent, to $85.81 per barrel by 1003 GMT, while U.S. crude futures fell $1.05, or 1.3…
Global Shares Edge Higher Ahead of US Inflation Data, Yen Firms
February 14, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Global shares edged higher on Tuesday, tracking a rebound on Wall Street ahead of a key U.S. inflation report and speeches by Federal Reserve members, while the yen recouped losses after Japan nominated a new central bank governor. European shares cheered an upbeat handover from Asia, with the pan-European STOXX 600 up 0.5 percent, hovering…
Amazon Rises Seller Fees Amid Slackening Sales, Rising Costs
Amazon has dealt with slowing sales growth and rising costs, by increasing sellers fees for the nearly 2 million small businesses that distribute their products on its website. Sellers on Amazon have been paying more every year on fees as a percentage of their sales, but not because sellers were using more services. The online retailer…
Amazon Raises Seller Fees Amid Slackening Sales, Rising Costs
Amazon dealt with slowing sales growth and rising costs by increasing seller fees for the nearly 2 million small businesses that distribute their products on its website. Sellers on Amazon have been paying more every year on fees as a percentage of their sales, but not because sellers were using more services. The online retailer has…
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