Business

Yum sees smaller KFC, Pizza Hut meal orders as dining out resumes

KFC and Pizza Hut owner Yum Brands Inc said it expects people to spend less per order as they start dining out again, taking the shine off an overall increase in demand during the first quarter due to the reopening of major economies. In general, Yum is seeing a dip in order values as markets […]

Business

Ford says chip shortage to halve Q2 vehicle output, but could ease this summer

Ford Motor Co on Wednesday said it expects a global semiconductor shortage could ease this summer but may not be fully resolved until 2022, as the automaker reported a strong first-quarter profit but said the shortage may slash second-quarter production by half. Ford said the ongoing chip shortage would cost it about $2.5 billion and […]

Business

Apple soars past sales, profit targets, warns of chip shortages

Fiscal second-quarter sales to China nearly doubled and results topped analyst targets in every category, led by $6.5 billion more in iPhone sales than predicted and Mac sales about a third higher than estimates. Apple also announced a $90 billion share buyback, a day after Alphabet Inc promised to repurchase $50 billion in stock. Apple […]

Business

U.S. Fed tames taper talk, but investors look for clues in coming months

Investors have received some reassurance that the Federal Reserve will not imminently reduce its support of the U.S. economic recovery, but they expect the Fed to provide more concrete clues on a tapering of bond purchases in the months ahead. At the conclusion of the U.S. central bank’s latest policy meeting on Wednesday, Fed Chair […]

Business

Fed holds steady even as it nods to ‘strengthened’ recovery

“It is not time yet” to begin discussing any change in policy, Fed Chair Jerome Powell told reporters after the release of a policy statement in which the U.S. central bank left interest rates and its bond-buying program unchanged. “We are 8.5 million jobs below February 2020,” Powell said. “We are a long way from […]

Business

Major Chinese investors in talks to take Aramco stake

Major Chinese investors are in talks to buy a stake in Saudi Aramco , several sources told Reuters on Wednesday, as Saudi Arabia’s state oil firm prepares to sell another slice of its business to international investors. Saudi Arabia was in discussions to sell 1% of Aramco to a leading global energy company and could […]

Business

Verizon explores sale of media assets, including Yahoo and AOL

Verizon Communications Inc is exploring a sale of its media assets, including Yahoo and AOL, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The sales process, which includes private equity firm Apollo Global Management Inc, could yield a price of $4 billion to $5 billion, report said. Yahoo and AOL […]