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By Khushi Mandowara and Pratik Jain (Reuters) -Abbott Laboratories on Thursday beat quarterly profit expectations as a rebound in surgical procedure volumes drove demand for medical devices despite high inflation-driven costs, sending shares up by nearly 4%. Demand for medical devices and non-COVID-19 testing is expected to rise this year, as older adults in particular get more comfortable visiting hospitals and staffing shortages at those facilities ease. Abbott CEO Robert […]

By Martyn Herman HOYLAKE (Reuters) – Reigning champion Cameron Smith is not hitting the panic button after beginning the defence of his Open title with a one-over round of 72 at Royal Liverpool on Thursday. The Australian, who fired a majestic 64 to win the 150th Open at St Andrews last year, mixed four birdies with five bogeys in friendly scoring conditions. He also returned one over-par round last year, […]

BOURG EN BRESSE, France (Reuters) -Kasper Asgreen upset the sprint specialists when the won the 18th stage of the Tour de France, a 185-km ride from Moutiers, at the end of a long breakaway to give his Soudal Quick-Step team their first victory in this year’s race on Thursday. Asgreen, the 2021 Tour of Flanders winner, perfectly timed his final effort with the peloton breathing down the neck of the […]

KARACHI, Pakistan (Reuters) – Pakistan is to proceed with the sale via tender of a contract to manage Islamabad airport after consultations with the International Finance Corporation (IFC), the Ministry of Finance said on Thursday. In March Pakistan had kicked off the outsourcing of operations at three major airports and the ministry said Islamabad airport was the first of these to be affected, as the country seeks to generate foreign […]

LONDON (Reuters) – ABB warned on Thursday of slowing Chinese demand, Taiwanese chipmaker TSMC forecast a drop in 2023 sales and Electrolux cautioned shoppers are seeking cheaper appliances, deepening worries about global corporate and economic health. The news cast a pall over stocks as second-quarter earnings season ramps up. The S&P 500 and Nasdaq futures were indicating lower, while European stocks recovered ground lost in early trade. ABB said its […]

By Raghav Mahobe and Ananya Mariam Rajesh (Reuters) – Kenvue, the former consumer health unit of Johnson & Johnson, forecast full-year profit above Wall Street estimates on Thursday, betting on resilient demand for its skincare and self-care products such as Neutrogena and Tylenol. Shares of the company still fell as much as 10% after J&J, which owns 90% of Kenvue’s outstanding shares, said a tender offer to sell the stake […]

By Timothy Gardner WASHINGTON (Reuters) -A group of nearly 150 environmental justice groups urged the Biden administration on Wednesday to abandon talks with global energy companies on standards for “certified” natural gas, a form of the fuel that producers market as climate friendly, but critics say undermines the transition from fossil fuels. The United States has held talks with energy companies and foreign officials on gas certification as it ships […]

By Noel Randewich (Reuters) – China’s frail growth could weigh on companies with exposure to the world’s second-largest economy, including Apple, big chipmakers and luxury retailers as they report quarterly results in the next few weeks. Wall Street is bracing for a steep drop in second-quarter U.S. earnings, with profit margins expected to be hurt by U.S. inflation and weaker spending. Both U.S. and European companies with exposure to China […]

By Hannah Lang (Reuters) – The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country’s payment system by eventually allowing everyday Americans to send and receive funds in seconds, 24 hours a day, seven days a week, the central bank announced on Thursday. The “FedNow” service, which has been in the works since 2019, will seek to eliminate the several-day lag it commonly takes […]