Town Hall News

By Ludwig Burger FRANKFURT (Reuters) -Novartis raised its full-year earnings outlook, citing strong growth momentum after scoring a trial success for a key breast cancer drug and making progress on boosting production of a radiotherapy drug against prostate cancer. The Swiss drugmaker said in a statement on Tuesday that when excluding Sandoz, the generic-drug division that will be spun off during the second half of the year, group core operating […]

SEOUL (Reuters) – South Korea’s Hyundai Motor Co on Tuesday reported a 109% increase in first-quarter profit thanks to a rise in vehicle output as a global chip shortage eased and demand for its high-margin sport-utility vehicles remained strong. Hyundai reported a net profit of 3.3 trillion won ($2.47 billion) for the January-March period versus a profit of 1.6 trillion won a year earlier. That compared with a Refinitiv SmartEstimate […]

ZURICH (Reuters) -ABB raised its full year outlook for sales and profit outlook on Tuesday after the engineering and technology group reported first quarter profit ahead of forecasts. The maker of chargers for electric vehicles, industrial motors and drives said it now expected to increase its revenues by at least 10% this year, up from 5% previously, and increase its profit margin. The company said its net profit rose 72% […]

MADRID (Reuters) – Spain’s Santander on Tuesday said its net profit in the first quarter rose 1% compared to the same period of 2022 as higher lending income, which offset higher provisions and the impact from a banking levy in Spain. The euro zone second-biggest lender in terms of market value booked a net profit of 2.57 billion euros ($2.84 billion), compared to 2.54 billion euros in the same quarter […]

ZURICH (Reuters) – ABB raised its full year outlook for sales and profit outlook on Tuesday after the engineering and technology group reported first quarter profit ahead of forecasts. The maker of chargers for electric vehicles, industrial motors and drives said it now expected to increase its revenues by at least 10% this year, up from 5% previously, and increase its profit margin. (Reporting by John Revill, Editing by Rachel […]

ZURICH (Reuters) – UBS Group AG on Tuesday reported a 52% slide in profit for the first quarter due to an increase in legal provisions for a legacy litigation matter. The result comes at a tumultuous time for the Swiss bank after it was forced into taking over former rival Credit Suisse. Net profit attributable to shareholders came in at $1.03 billion versus the $1.71 billion average of 15 analyst […]

ZURICH (Reuters) – UBS Group AG on Tuesday reported a 52% slide in profit for the first quarter due to an increase in legal provisions for a legacy litigation matter. The result comes at a tumultuous time for the Swiss bank after it was forced into taking over former rival Credit Suisse. Net profit attributable to shareholders came in at $1.03 billion versus the $1.71 billion average of 15 analyst […]

PARIS (Reuters) – The European Central Bank will need to raise interest rates again at its forthcoming meeting next week but the size of the move is still open to debate, its chief economist told French paper Le Monde in an interview published on Tuesday. “For our next Governing Council meeting on 4 May, the current data are indicating that we should raise rates again… Beyond that, I don’t have […]

LIMA (Reuters) – Peruvian archaeologists unearthed a more than 1,000-year-old mummy on the outskirts of the modern capital on Monday, in the latest discovery dating back to pre-Inca times. The mummy was probably an adolescent and found in an underground tomb wrapped in a funerary bundle, along with ceramics and rope and including bits of skin and hair. The mummified adolescent was found in a “good state of conservation,” said […]