Newsletter Jan 27, 2023

UK cost-of-living crisis pushes mothers to the brink

At an east London church on a bitterly cold winter's day, Beautine Wester-Okiya picks her way through boxes of donated baby clothes, toys and other assorted items destined for local people battered by the UK's cost-of-living crisis.

Strikes disrupt French fuel deliveries, but participation waning

Protests against French government plans to raise the retirement age had a muted impact on the energy sector on Thursday, the first day of 48-hour strikes, lowering hydropower output and curbing some refinery deliveries.

Luxury group LVMH's sales defy downturn as shoppers splurge

Luxury goods group LVMH's sales rose 9% in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping to partly offset COVID disruptions in China.

European shares gain on earnings optimism

European shares marched higher on Thursday as upbeat quarterly results from STMicroelectronics, Sabadell and Nokia eased some worries about the impact of stubborn inflation and slowing economic growth on corporate profit.

Comcast revenue tops estimates amid cord-cutting, muted broadband growth

Comcast Corp's fourth-quarter revenue beat Wall Street expectations on Thursday, as the media company saw continued demand at its theme parks and experienced modest gains in broadband subscribers outside of regions hit by Hurricane Ian.

Blackstone's earnings fall 41% as assets sales slump

Blackstone Inc said on Thursday its fourth quarter distributable earnings fell 41% year-on-year as the world's largest manager of alternative assets cashed out fewer investments across its key portfolios.

Mastercard warns of slower revenue growth as travel growth plateaus

Mastercard Inc forecast current-quarter revenue growth short of Wall Street estimates on Thursday, saying the boost from pent-up demand for travel will diminish going forward.

Visa revenue growth slows more as tough economy sobers spending

Visa Inc's revenue growth continued to wind back to pre-pandemic levels in the first quarter as the post-lockdown travel craze ebbed and consumer spending slowed in a tough economy.

Wizz Air sees strong summer, but more wary than rivals

Wizz Air is upbeat on summer demand for travel but more cautious than its competitors, forecasting a return to profit in its 2023-2024 financial year, helped by strong bookings, new capacity and the benefits of hedging fuel costs.

Toyota says replacing Akio Toyoda as president and CEO

Toyota named Koji Sato as its new president, CEO, and operating officer Thursday, replacing third-generation chief executive Akio Toyoda -- who will become board chairman.

Japan's Suzuki to invest $35 bln through 2030 in EVs

Suzuki Motor Corp will invest 4.5 trillion yen ($34.8 billion) through fiscal 2030 in research, development and capital spending to make battery electric vehicles (EVs), it said on Thursday.

EU wants to send more migrants away as irregular arrivals grow

European Union ministers on Thursday sought ways to curb irregular immigration and send more people away as arrivals rose from pandemic lows, reviving controversial ideas for border fences and asylum centres outside of Europe.

Russia says tank promises show direct and growing Western involvement in Ukraine

Russia said on Thursday it saw the promised delivery of Western tanks to Ukraine as evidence of direct and growing U.S. and European involvement in the conflict.

Russian missiles kill 11 in Ukraine after tank pledge

The latest wave of Russian attacks came as the Kremlin said it perceived the tanks "as direct involvement in the conflict".

Israeli president urges EU to up fight against anti-Semitism

Israel's President Isaac Herzog on Thursday urged Europe to fight anti-Semitism "at all costs", in the face of a worrying increase in hatred being spread notably online.

Britain opposed to Russia, Belarus athletes being at Paris Olympics

Moves to reintegrate Russian athletes for next year's Paris Olympics were strongly criticised by the British government on Thursday.