Town Hall News

(Reuters) – U.S. truck engine maker Cummins Inc on Tuesday raised its full-year 2023 revenue forecast, on the back of strong demand for parts across its markets. Supply chain issues, which led to a fall in production of new trucks, have forced truckers to keep their ageing fleet on roads for longer, which in turn has increased the demand for aftermarket parts and services. Indiana-based Cummins now expects full-year 2023 […]

(Reuters) -U.S. stock index futures were mixed on Tuesday after Treasury Secretary Janet Yellen said the government could run out of money within a month, while investors awaited the Federal Reserve’s policy decision. The cost of insuring against a U.S. default hit fresh highs as Yellen said the government will be unlikely to meet all payment obligations by “early June”, prompting President Joe Biden to summon four top congressional leaders […]

By Anna Tong (Reuters) – Business software company Box, Inc said on Tuesday it will introduce new artificial intelligence features such as analyzing information across customer contracts or generating customized marketing content. Generative AI, which the tech industry has embraced, has the ability to synthesize large amounts of data and write human-like text. Box customers testing the product have already experienced “revolutionary” productivity gains, Box CEO Aaron Levie told Reuters. […]

By Selena Li and Lawrence White HONG KONG/LONDON (Reuters) – HSBC tripled its profit in the first quarter as rising interest rates boosted its income, beating analyst forecasts and helping the bank pay its first quarterly dividend since 2019. The strong results reported by HSBC and Asian rival DBS on Tuesday underscore how aggressive policy tightening has lifted profit margins, even though it has also sparked banking sector turmoil in […]

By Bhanvi Satija and Raghav Mahobe (Reuters) -Pfizer Inc on Tuesday beat estimates for first-quarter profit, helped by steady demand for its COVID products and said it expects newer drugs to contribute to growth later this year, sending its shares up nearly 3% in premarket trading. The company has said it expects 2023 to be a low point for COVID product sales, before potentially returning to growth in 2024. First-quarter […]

By Yuvraj Malik (Reuters) -Uber Technologies Inc forecast quarterly core earnings above estimates on Tuesday, after a surge in demand for travel and food delivery helped the U.S. ride-sharing giant report better-than-expected results for the January-March period. Shares of the company rose more than 8% in premarket trading and drove gains of 4% each in those of Lyft Inc and DoorDash Inc, both of which report results on Thursday. Uber […]

(Reuters) – Tesla Inc was the biggest loser among top companies by market capitalisation in April, hit by disappointing quarterly earnings after it posted the lowest quarterly gross margin in two years. Tesla’s market cap dropped to $520.7 billion at the end of April from $657.5 billion in March, a 20.8% decline, pushing it to 9th in the rankings from 7th in January. Graphic: Change in market cap in April […]

By Andrew Hay ACEQUIA DE LA SIERRA, New Mexico (Reuters) – Rivers are roaring in northern New Mexico after a big snowpack. But sacred pastures Jimmy Sanchez’s family has irrigated for seven generations are dry. Sanchez has labored in snow, mud and ice to clear centuries-old irrigation ditches of fallen trees and debris left in the wake of the state’s worst-ever wildfire, which was started by the federal government in […]

By Andrew Hay ACEQUIA DE LA SIERRA, New Mexico (Reuters) – Rivers are roaring in northern New Mexico after a big snowpack. But sacred pastures Jimmy Sanchez’s family has irrigated for seven generations are dry. Sanchez has labored in snow, mud and ice to clear centuries-old irrigation ditches of fallen trees and debris left in the wake of the state’s worst-ever wildfire, which was started by the federal government in […]