Category: Business

Canada’s main stock index fell on Tuesday, giving back some recent gains, as a slowdown in manufacturing activity as well as rising tensions between the United States and China dented investor sentiment. The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) closed down 187.59 points, or 0.95%, at 19,505.33, as trading resumed following a market holiday […]

Steel producer Ternium reported on Tuesday a 19% drop in its second-quarter net profit from the year-ago period, as the costs of sales and expenses grew. The company’s net profit reached $936 million. Costs of sales hit $3.1 billion, up from the $2.4 billion in the previous year. Ternium, which operates in Mexico, Brazil, Argentina, […]

New York State’s financial regulator has fined the crypto arm of Robinhood Markets Inc (HOOD.O) $30 million for alleged violations of anti-money-laundering, cybersecurity and consumer protection rules. The New York State Department of Financial Services (NYDFS) said on Tuesday that Robinhood Crypto did not devote sufficient resources to address compliance and cybersecurity risks. The online […]

The Federal Reserve has further to go on raising interest rates as inflation has not even peaked yet, Cleveland Fed President Loretta Mester said on Tuesday. “We have more work to do because we have not seen that turn in inflation,” Mester said in an interview with the Washington Post. “It’s got to be a […]

Russian metals producer Nornickel (GMKN.MM) said on Tuesday that its sales of nickel, palladium and platinum fell in the first half of 2022 due to disrupted supply chains, while net profit rose by 18% to $5.1 billion due to a stronger rouble. Nornickel, the world’s largest producer of palladium and high-grade nickel, has not been […]

A Mexican union on Tuesday said it will request a U.S. labor complaint over alleged worker rights violations at a BBB Industries auto-parts plant in northern Mexico, the latest effort to leverage terms of a regional trade deal. U.S. labor authorities have filed five complaints since last year, all in the autos sector. The Mexican […]

Uber Technologies Inc (UBER.N) reported positive quarterly cash flow for the first time ever on Tuesday and forecast third-quarter operating profit above estimates, as more people rely on its services for transport and ordering in food. The company’s stock surged 15% to $28.2 and helped push shares of Lyft Inc (LYFT.O) by 11% and DoorDash […]