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Unilever Plc raised its sales forecast for this year after pushing through the biggest increase in prices in its history amid rampant inflation. The maker of Knorr stock cubes now expects sales this fiscal year to increase more than 8%, up from a prior range of 4.5% to 6.5%, after reporting a better than expected third quarter. However, the group …

Southwest Airlines Co. reported a third-quarter profit greater than Wall Street expected as business sales strengthened, even as the carrier warned that cost pressures will extend into next year. Adjusted earnings were 50 cents a share in the period, the company said in a statement, compared with the 44-cent average from analyst estimates compiled by Bloomberg. Revenue of $6.22 billion …

The yuan leaped over the Australian, Canadian and Swiss currencies to become the fifth most traded currency in the world, according to the Bank for International Settlements’ Triennial Central Bank Survey. The Chinese currency was involved in 7% of all trades in 2022, compared with 4% three years ago, Basel-based BIS said in a report. Meanwhile, total daily trades rise …

Lloyds Banking Group Plc missed estimates in the third quarter after the lender took charges for bad loans as it warned of a darkening outlook for the UK economy. Pretax profit falls more than expected to £1.5 billion ($1.7 billion) after the bank took its biggest charge since the Covid-19 pandemic to cover loans that could default. The £668 million …

The Bank of Canada signalled it’s nearing the end of its interest-rate hiking campaign, potentially providing a model for counterparts elsewhere as recession risks mount. The central bank unexpectedly slowed its pace of rate increases, amid concern Canada’s economy is already flirting with a recession. Governor Tiff Macklem boosted the benchmark overnight lending rate by 50 basis points, instead of …

It’s too soon to write off the dollar’s dominance as the US rate-hike cycle may not be near its peak. That’s the firm conviction of money managers at JPMorgan Asset Management and Fivestar Asset Management even after a gauge of the greenback touched a one-month low. Signs that aggressive Federal Reserve tightening is starting to take a toll are fuelling …

It was supposed to be the silver lining to a year of brutal losses. As bond-fund managers watched the market value of their portfolio decline rate hike after rate hike, one thing was certain: companies would soon have to return to the market offering juicier yields. But for all the yield concessions companies have had to offer investors to raise …

Chris Bryant Fed up with having his private jet tracked by climate activists typing on Twitter, Bernard Arnault has sold the capacious Bombardier 7500 aircraft belonging to his luxury goods company LVMH Moet Hennessy Louis Vuitton SE. But the world’s third-richest man isn’t about to join the masses flying commercial (quelle horreur!). Instead, Arnault plans to rent private aircraft: “The …

China plans to increase the number of international flights operated by domestic and foreign airlines to 840 a week from October 30 to March 25. That’s a jump of 106% from October 2021 to late March this year, but still way below pre-pandemic levels. The announcement, made at a Civil Aviation Administration of China (CAAC) briefing, follows the country’s major …

L’Oreal SA said there are signs that shoppers are trading down to cheaper skincare products in fresh evidence that soaring inflation is eroding household budgets. The change in consumer behaviour is most pronounced in the UK “where the inflation is the highest,” with trading down affecting the skincare category there but not haircare nor fragrance, said Chief Executive Officer Nicolas …