Business
Coca-Cola signs $1.1 billion deal to use Microsoft cloud, AI services
By Stephen Nellis (Reuters) - Microsoft said on Tuesday that Coca-Cola had signed a $1.1 billion five-year deal to use its cloud computing and artificial intelligence services. Under the agreement, Microsoft and Coca-Cola will "jointly ...
Saudi Arabia's 2024 economic growth forecast cut; UAE leads GCC
By Anant Chandak BENGALURU (Reuters) - Saudi Arabia's economy will grow at a slower pace this year than previously predicted as oil prices drop from recent peaks, according to a Reuters poll which also showed the United Arab Emirates (UAE) ...
Top 10 issuers dominate US active ETF marketplace, Morningstar says
By Suzanne McGee (Reuters) - Assets invested in actively managed U.S. exchange traded funds soared 15% to $611 billion in the first quarter, Morningstar said in a report published on Tuesday, but the vast majority of that money flowed into funds ...
Insurer W R Berkley's profit jumps on robust underwriting, investment returns
(Reuters) - Commercial insurer W R Berkley said on Tuesday its first-quarter profit rose 50% due to strong returns from its investments and a stronger underwriting performance. Higher interest rates have boosted insurers' earnings on their debt ...
Williams-Sonoma is fined by US FTC over 'Made in USA' claims
By Jonathan Stempel (Reuters) - Williams-Sonoma will pay a $3.18 million civil fine to settle U.S. Federal Trade Commission charges it violated a July 2020 order by falsely claiming that some of its products were "Made in USA." An order ...
Sherwin-Williams misses Q1 profit target as demand in North America drags
(Reuters) - Paintmaker Sherwin-Williams missed Wall Street estimates for first-quarter profit on Tuesday due to lower sales in North America, sending shares of the company nearly 5% lower in premarket trading. US existing home sales fell in March ...
Invesco quarterly profit declines on lower management fees
(Reuters) - Invesco on Tuesday reported a 14.4% drop in first-quarter profit as the asset manager's fees took a hit from customers shifting towards lower-yield products. Investment management fees, the company's chief revenue source, dipped 1.9% ...
Fiserv lifts annual profit forecast on strong consumer spending
(Reuters) - Payments firm Fiserv raised its annual profit forecast and topped Wall Street estimates for first-quarter results on Tuesday, helped by strong consumer spending, sending its shares up 2.7% before the bell. Consumer spending, supported ...
Fisker may seek bankruptcy protection in 30 days if unable to meet debt obligations
(Reuters) - Fisker may have to file for bankruptcy protection within 30 days if it does not get adequate relief from its creditors and enough liquidity to meet its current debt obligations, it disclosed in a regulatory filing on Tuesday. The ...
Russian ministry sees 2024 GDP at 2.8%, but with higher inflation, weaker rouble
(Reuters) - Russia's economy ministry improved its expectations for 2024 gross domestic product (GDP) growth to 2.8% from 2.3% in new forecasts published on Tuesday, while envisaging a weaker rouble and shrinking current account surplus in the ...