Tuesday 22 February 2022

Reuters Business: U.S. SEC announces charges, penalty on medtech firm Baxter for accounting improprieties

U.S. SEC announces charges, penalty on medtech firm Baxter for accounting improprieties

The U.S. Securities and Exchange Commission on Tuesday announced charges and an $18 million penalty against medtech firm Baxter International Inc for engaging in "improper intra-company foreign exchange transactions" resulting in the misstatement of its net income.

Brazil's BRF posts Q4 net profit of $184.4 mln -filing

Brazilian poultry and pork processor BRF SA said it profited by 932 million reais ($184.39 million) in the final quarter of 2021, a 3.3% rise from the 902 million-real gain in the same period a year ago, according to an earnings statement on Tuesday.

Latam e-commerce giant MercadoLibre reports Q4 net loss of $46.1 mln

South American e-commerce giant MercadoLibre Inc missed analysts' forecasts after posting a fourth quarter net loss on Tuesday, despite a surge in sales.

Virgin Galactic posts smaller quarterly loss

Space tourism company Virgin Galactic Holdings Inc reported a smaller quarterly loss on Tuesday as supply issues impacting the price of parts used in its spacecraft eased.

Wall St ends down but off lows as Biden announces Russia sanctions

U.S. stocks ended lower on Tuesday as investors were on edge over developments in the Ukraine-Russia crisis, paring some losses after U.S. President Joe Biden announced the first wave of sanctions against Russia.

Tesla hit by another lawsuit over racism by ex-worker

A former Tesla construction manager has filed a lawsuit against the electric car company alleging he was fired for reporting widespread safety violations and race discrimination at Tesla's factories.

Oil soars, stocks fall as Russia, Ukraine fears intensify

Crude oil futures on Tuesday reached their highest levels since 2014 on supply concerns and stocks sold off in a volatile session as investors eyed international responses after Russia sent troops into parts of Ukraine.

Brazil central bank chief says higher interest rates, positive fiscal are supporting FX

Brazil's central bank chief Roberto Campos Neto said on Tuesday that higher interest rates to combat double-digit inflation are supporting financial inflows, strengthening the Brazilian currency.

Nestle to double investments in Brazil in 2022 as it expands output capacity

Nestle SA said on Tuesday it will almost double its investments in Brazil in 2022 from a year earlier as it builds a new pet food factory and looks to expand its overall industrial capacity in the country.

ECB may need to cut short bond buys: Reinesch

The European Central Bank may need to end its bond buys sooner than earlier thought given mounting inflation risks, ECB policymaker Gaston Reinesch said, joining a growing number of rates-setters now openly discussing a curb in stimulus.

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