Altria misses quarterly sales estimates on weak cigarette demand

(This story has been corrected to say that quarterly revenue fell 1.2%, not 2.9%, in paragraph 7) (Reuters) – Altria Group Inc missed sales expectations for the first quarter on Thursday, as price-sensitive consumers switched to cheaper brands of cigarettes and smokeless tobacco products. Hit by inflation, consumers have been trading down to affordable alternatives …

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India’s Glenmark Life Sciences says Q4 profit soars 48% on API boost

BENGALURU (Reuters) – India’s Glenmark Life Sciences Ltd said on Thursday its fourth-quarter profit surged 48%, helped by growth in its mainstay business of making active pharmaceutical ingredients (API) for drugs. The Mumbai-based drug maker’s profit rose to 1.46 billion rupees ($17.86 million) in the three months ended March 31, from 989 million rupees in …

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Repsol CEO asks EU to stop imports of Russian diesel to Europe through third destinations

MADRID (Reuters) – Josu Jon Imaz, the chief executive of Spanish oil company Repsol, on Thursday asked European Union authorities to put an end to imports of Russian diesel to the bloc through third destinations. “Diesel from Russia continues to be on European and Spanish markets,” he said, adding that it was brought into Europe …

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India’s LTIMindtree posts Q4 profit miss as costs rise

BENGALURU (Reuters) – India’s LTIMindtree reported a lower-than-expected fourth quarter profit on Thursday as expenses rose and margins shrank, while the industry grappled with falling client budgets and worries of a upcoming recession in the United States. The IT services and consulting firm’s consolidated net profit came in at 11.14 billion rupees ($136.18 million) for …

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El regulador bancario chino ayudará a reducir los costos de financiación de las pequeñas empresas

PEKÍN, 27 abr (Reuters) – El regulador bancario y de seguros chino afirmó que este año mejorará el apoyo crediticio y reducirá los costos reales de financiación de las pequeñas empresas y microempresas para respaldar mejor la recuperación económica. En un comunicado emitido el jueves, la Comisión Reguladora de la Banca y los Seguros de …

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Honeywell lifts annual profit outlook after quarterly results beat

(Reuters) – Industrial conglomerate Honeywell International Inc raised its full-year profit and revenue forecasts on Thursday, after posting a quarterly results beat on strength in its aviation unit. Shares of the company, which makes everything from engines to cockpit components, were up 2.4% at $195.50 before the bell. Aviation suppliers such as Honeywell and General …

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China regulator to help lower financing costs of small businesses

BEIJING (Reuters) – China’s banking and insurance regulator said it would enhance credit support and lower the actual financing costs of small and micro enterprises this year to better support economic recovery. In a statement on Thursday, the China Banking and Insurance Regulatory Commission (CBIRC) said financial institutions should provide reasonable credits to small businesses, …

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