Posts with tag: innovation
UK economy faces recession as Bank of England fails to take bold action on interest rates, despite worsening economic data and job losses.
Published on: February 06, 2025, 03:01 PM UTC
Ford shares are dropping after the automaker's disappointing outlook, with losses in its EV business offsetting higher-than-estimated quarterly results. Ford Model e reported a $5.1 billion EBIT loss for 2024, and CEO Farley warned of tariffs' impact on the industry and consumer prices.
Published on: February 06, 2025, 03:00 PM UTC
Gates Industrial Corp. (GTES) reported fourth-quarter earnings of $36.6 million, or 14 cents per share. Adjusted earnings were 36 cents per share. Revenue was $829.4 million. For the year, the company reported profit of $194.9 million, or 74 cents per share, on revenue of $3.41 billion. Gates Industrial expects full-year earnings in the range of $1.36 to $1.52 per share.
Published on: February 06, 2025, 02:08 PM UTC
Ralph Lauren Beats on Q3 Earnings and Revenue, with EPS at $4.66 and Revenue at $2.14B
Published on: February 06, 2025, 02:08 PM UTC
Traders expect further interest rate cuts from the Bank of England after policymakers lowered costs, with two voting for a bigger reduction. Money markets fully price two more quarter-point cuts and an 80% chance of a third. The pound fell, while UK bonds initially rallied.
Published on: February 06, 2025, 02:05 PM UTC
Sonos Inc. reports net income of $50.2 million in its fiscal first quarter. The company posted revenue of $550.9 million, topping Street forecasts.
Published on: February 06, 2025, 02:05 PM UTC
MDU Resources Group Inc. (MDU) reported fourth quarter earnings of $55.2 million, or 27 cents per share. For the year, the company reported profit of $281.1 million, or $1.37 per share. Revenue was reported as $1.76 billion.
Published on: February 06, 2025, 02:05 PM UTC
Zimmer Biomet forecasts below-estimate profit due to currency headwinds, despite strong Q4 results.
Published on: February 06, 2025, 02:04 PM UTC
Elon Musk and OpenAI CEO Sam Altman's legal battle over the future of artificial intelligence heats up, with a jury trial potentially years away. Musk accuses OpenAI of prioritizing profits over its nonprofit mission, while OpenAI denies wrongdoing. The case involves Microsoft, LinkedIn founder Reed Hoffman, and Tesla.
Published on: February 06, 2025, 02:03 PM UTC
The labor market is holding steady, but economists are watching inflation closely as a potential threat. In ADP's January National Employment Report, service-providing sectors added jobs while goods-producing sectors lost jobs, indicating a consumer-led hiring market.
Published on: February 06, 2025, 02:02 PM UTC