World
AstraZeneca says its China operations president under investigation
The office building of biopharmaceutical company AstraZeneca is being seen in Shanghai, China, on May 23, 2024. Nurphoto | Getty Images AstraZeneca‘s China president is under investigation and is cooperating with Chinese authorities, the company said on Wednesday, sending shares down as much as 5.3%. It was not immediately clear whether the executive Leon Wang […]
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U.S. economy grew at a 2.8% pace in the third quarter, less than expected
Gross domestic product was expected to increase at a 3.1% annualized pace in the third quarter. Source
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European markets fall over 1% as investors await UK budget; Campari shares slide 15%
Novo Nordisk shares fall to nine-month low Novo Nordisk shares on Wednesday fell to levels last seen in January of 2024 according to LSEG data, pulling back after competitor Eli Lilly posted weaker-than-expected quarterly results. Eli Lilly missed expectations for profit and revenue in the third quarter and cut its adjusted profit guidance for the […]
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Euro zone economy grows 0.4% in third quarter, above expectations
People walk down the iconic Alcalá street on a very hot afternoon in Madrid, Spain. Miguel Pereira | Getty Images News | Getty Images The euro zone economy grew 0.4% in the third quarter, flash figures published by the European Union’s statistics agency showed Wednesday. Economists polled by Reuters had expected growth of 0.2%. following […]
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Volkswagen profit plunges 42% in third quarter amid sweeping overhaul plans
A Volkswagen logo on the rim of an e-up. electric car tire. Julian Stratenschulte | Picture Alliance | Getty Images German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter. Operating profit fell to 2.86 billion euros ($3.1 billion), while third quarter sales revenues slipped 0.5% year on year […]
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CNBC Daily Open: Everyone gave Reddit an upvote
The New York Stock Exchange welcomes Reddit, Inc. (NYSE: RDDT) to celebrate its initial public offering. To honor the occasion, Snoo, rings the Opening Bell®. NYSE This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where […]
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UK’s Labour to unveil hotly-awaited budget with billions in tax rises expected
UK minimum wage raised in boost for ‘working people’ Finance Minister Rachel Reeves said Tuesday that the U.K.’s minimum hourly wage for over 21-year-olds would rise by 6.7% to £12.21 ($15.87) from next April, in a signal of what could be further support measures for “working people” in Wednesday’s budget. For younger workers aged 18 […]
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Swiss bank UBS smashes third-quarter expectations with $1.4 billion in profit
Signage at the UBS flagship office in New York, US, on Tuesday, March 21, 2023. Bloomberg | Bloomberg | Getty Images Swiss banking titan UBS on Wednesday posted a large profit beat, after completing its first wave of client migrations following its integration of collapsed domestic rival Credit Suisse. Net profit attributable to shareholders came […]
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China’s property market is expected to stabilize in 2025 — but stay subdued for years
Residential buildings under construction at China Vanke Co.’s Isle Maison development in Hefei, China, on Nov. 27, 2023. Bloomberg | Bloomberg | Getty Images China’s struggling real estate sector may not start turning around until the second half of next year — even with the latest stimulus measures, three research firms predicted this month. After […]
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Standard Chartered lifts income guidance again after beating third-quarter profit forecasts
Standard Chartered Plc bank branch in Hong Kong Bloomberg | Bloomberg | Getty Images Standard Chartered on Wednesday upgraded its 2024 income guidance as it posted profits in the third quarter that beat expectations, driven by record performance in its wealth management division. Here are Standard Chartered’s results compared with LSEG SmartEstimate, which is weighted […]
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