Thursday 21 July 2022

Euro knocked by Italy crisis ahead of landmark ECB hike

Euro knocked by Italy crisis ahead of landmark ECB hike

The euro wilted on Thursday as the European Central Bank geared up for its first rate rise in over a decade and as political tumult in Italy offset relief following the restart of Russian gas flows through the region's largest pipeline.

Domino's Pizza sales drop less than expected

Domino's Pizza Inc reported a smaller-than-expected drop in quarterly U.S. same-store sales on Thursday as it benefited from price increases and robust demand for its pizzas and chicken wings.

Ford announces series of deals to accelerate EV push

Ford Motor Co on Thursday announced a series of deals to accelerate its shift to electric vehicles, including sourcing battery capacity and raw materials from such companies as Chinese battery maker CATL and Australian mining giant Rio Tinto .

Nasdaq futures fight to stay positive with upbeat Tesla results

Nasdaq futures eked out gains on Thursday as electric automaker Tesla topped Wall Street's profit target, while futures tracking the S&P 500 and the Dow struggled for direction ahead of more earnings reports.

Lula advisers draft plans for more aggressive Brazil foreign exchange policy

Economic advisers to Brazil's leading presidential candidate are drafting plans for a more aggressive foreign exchange policy, including more market interventions and tighter regulation of derivatives to curb volatility, senior aides told Reuters.

American Airlines books first adjusted profit since start of pandemic

American Airlines Group Inc on Thursday posted its first adjusted quarterly profit since the onset of the COVID-19 pandemic as a boom in travel demand more than offset higher costs.

HSBC agrees deal to sell Russian unit to Expobank

HSBC has agreed to sell its Russia business to Expobank, signing a deal shortly before Moscow said it would move to block the sale of foreign banks' Russian businesses in retaliation for restrictions imposed on its own lenders.

EXCLUSIVE Fifth Wall climate fund aims to decarbonize property industry

Fifth Wall, a Los Angeles-based venture capital firm focused on real estate technology, said on Thursday it has raised $500 million for a climate fund to help decarbonize an industry estimated to account for nearly 40% of the world's carbon emissions.

AutoNation revenue misses as new vehicle sales skid on tight supplies

Top U.S. auto retailer AutoNation Inc on Thursday missed Wall Street estimates for second-quarter revenue, hit by a steep decline in new vehicle sales as strained global supply chains made it harder to replenish depleted inventories.

U.S. insurer Travelers posts plunge in profit as catastrophe claims mount

Property and casualty insurer Travelers Companies Inc reported a nearly 29% fall in quarterly profit on Thursday, hurt by higher catastrophe-related claims and lower returns on its investments.

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