Monday 18 July 2022

Goldman Sachs profit nearly halves in second quarter

Goldman Sachs profit nearly halves in second quarter

Goldman Sachs Group Inc on Monday reported a drop in second-quarter profit as dealmaking slumped, weakening the Wall Street giant's investment banking business.

U.S. wants to end dependence on China rare earths -Yellen

The United States wants to end its "undue dependence" on rare earths, solar panels and other key goods from China to prevent Beijing from cutting off supplies as it has done to other countries, U.S. Treasury Secretary Janet Yellen said.

Mexico's unicorns unlikely to IPO locally, says Mexican exchange CEO

Mexico's tech startups may be enjoying a boom, but its top stars are unlikely to list on the country's own stock market, the national exchange's chief executive told Reuters in an interview last week.

Euro at 1-week high, rowback in Fed rate hike bets knocks dollar

The euro firmed to a one-week high on Monday, benefiting from the dollar's retreat after several Federal Reserve officials signaled they did not favour stepping up the rate hiking pace.

South Korean government calls on strikers to end 'illegal' siege of Daewoo shipyard

The South Korean government on Monday called on striking workers at Daewoo Shipbuilding & Marine Engineering (DSME) to end their month-long siege of a dock at the company's biggest shipyard, which has paralysed production and is delaying delivery of new vessels.

SAS says time is running out as pilot strike enters third week

SAS warned on Monday that time was running out as negotiations resumed with pilot unions to end a two-week strike that the Scandinavian airline says threatens its existence.

Canada sends repaired Nord Stream turbine to Germany, Kommersant reports

Canada sent a turbine for the Nord Stream gas pipeline to Germany by plane on July 17 after repair work had been completed, Kommersant newspaper reported on Monday, citing people familiar with the situation.

Microsoft president sees 'new era' of stagnating labor pool

U.S. companies are facing a "new era" in which fewer people are entering the workforce and pressure to pay higher salaries may become permanent, Microsoft Corp's President Brad Smith told Reuters in an interview.

CEO pay gains far outpace rising wages, says new union report

S&P 500 chief executives made $18.3 million on average in 2021, 324 times the pay of their median workers and higher than the ratio in 2020, the top American labor union will report on Monday.

Porsche expects higher returns, China recovery in 2022

Volkswagen-owned Porsche expects revenue of 38 billion to 39 billion euros ($38.63 billion to $39.64 billion) in 2022 from 33.1 billion in 2021, the sportscar maker said on Monday, despite registering a 5% drop in deliveries in the first half of the year.

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