Nokia Profit Falls Short But Confirms Outlook
Nokia reported a first-quarter net profit of EUR332 million, missing forecasts, but backed its full-year guidance despite seeing some early signs of the economic environment impacting customer spending.
Rio Tinto’s Iron-Ore Exports Hit Record; Cuts Copper Output Estimate
UPDATED: Rio Tinto reported record first-quarter iron-ore shipments from its Australian mining operations, but downgraded its full-year copper-production estimate, citing a conveyor outage at its Kennecott mine near Salt Lake City, Utah.
Publicis Posts Better-Than-Expected Organic Growth as Ad Industry Appears Resilient
Publicis Groupe SA reported higher-than-expected organic growth of 7.1% in the first quarter, and the advertising holding company said demand for its services continues despite the choppy macroeconomic environment.
Jaguar Land Rover to Invest GBP15.0 Billion in Electric Vehicle Programs
Jaguar Land Rover plans to invest $18.66 billion in electric vehicle programs over the next five years to become a modern luxury car maker by 2030.
TSMC First-Quarter Net Profit Rose on Revenue Growth
Taiwan Semiconductor Manufacturing Co. said first-quarter net profit rose 2.1% from a year earlier, thanks partly to revenue growth.
Qantas’s Acquisition of Regional Rival Opposed by Competition Watchdog
UPDATED: Australia’s competition watchdog said the transaction would significantly reduce competition in services to the country’s resources industries.
Tesla Earnings Dented by Price Cuts
Tesla Inc. felt the pain of a recent wave of price cuts, as a reduction in the average price of its cars contributed to a 24% decline in first-quarter profit.
Seagate to Pay $300 Million for Violating Export Restrictions on China’s Huawei
The penalty comes after a group of Senate Republicans in 2021 alleged the data-storage equipment provider continued to sell hard drives to Huawei despite national security restrictions.
Mall of America Wins Supreme Court Case Over Sears Lease
The high court ordered an appeals court to review the mall’s dispute with the former chairman of Sears over a $10-a-year store lease.
Bed Bath & Beyond Preparing for Bankruptcy Filing Within Days
Bed Bath & Beyond is preparing a bankruptcy filing for as early as this weekend as its falling stock price makes it near impossible to raise enough capital to avert default, according to people familiar with the matter.