Tuesday 17 May 2022

Reuters Business: Lessor AerCap books $2.7 billion charge on stranded Russian jets

Lessor AerCap books $2.7 billion charge on stranded Russian jets

AerCap Holdings NV said on Tuesday it booked a pretax charge of $2.7 billion in the first quarter as more than 100 jets of the world's top aircraft lessor remain stranded in Russia.

Italian luxury group Zegna sees sales above 2 bln euros in mid-term

Italy's Zegna is aiming for revenue above 2 billion euros ($2.1 billion) in the medium term, up from the 1.29 billion euros posted last year, the fashion group said on Tuesday at its first Capital Markets Day since its debut on Wall Street in late 2021.

Bankers brush off concerns about Brazil's polarized election

On one side is a president questioning the integrity of the electoral system. On the other, a challenger warning he could roll back the country's biggest privatization in decades.

Small players lose faith in crypto after sell-off

Nofe Isah, a 25-year old based in Nigeria, has been investing in crypto since January. Last week, she lost all of her $5,000 in savings as cryptocurrency luna went into free fall.

Futures climb as technology and growth stocks rebound

U.S. stock index futures jumped on Tuesday, as strong earnings from Home Depot and United Airlines added to an upbeat global mood driven by hopes of easing crackdown on tech firms and COVID-19 in China.

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LIC shares tumble in market debut after record India IPO

Shares in Life Insurance Corp of India (LIC) slid nearly 8% in its market debut on Tuesday, a fresh setback for the state-owned giant as its record-breaking, oversubscribed IPO raised far less than expected for the government.

U.S. coal companies struggle to cash in on Europe crunch

U.S. coal producers are seeking to boost exports to cash in on soaring prices since Russia's invasion of Ukraine but face big headwinds including shipping bottlenecks, labor shortages, and a dismal long-term outlook discouraging investments in new mines.

Peru mining protests risk clogging $53 bln investment pipeline, industry warns

Peru, the world's second-largest copper producer, risks losing out on billions of dollars of mining investment if the government fails to defuse protests that are hitting the industry and denting production, analysts and executives said.

Walmart cuts full-year profit forecast as fuel, labor costs spike

Walmart Inc cut its full-year profit forecast on Tuesday, signaling a bigger knock to the retail giant's profit margins from surging costs of everything from fuel to labor.

JD.com beats revenue estimates as lockdowns boost e-commerce demand

Chinese e-commerce group JD.com Inc , beat Wall Street estimates for quarterly revenue on Tuesday, as more people shopped on its platform following lockdowns in mainland China to fight a fresh COVID-19 outbreak.

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