The latest Economy News: breaking news on the global and UK economy and international investments including audio and video coverage.

Scotts Miracle-Gro Q1 Loss Widens But Beats Estimates

The Scotts Miracle-Gro Company (SMG), a marketer of branded consumer lawn and garden as well as indoor and hydroponic growing products, on Wednesday showed an increase in loss for its fiscal first quarter ended December 31, 2022. Lower revenues and higher non-recurring charges impacted the quarter’s results. Earnings and revenue however surpassed consensus estimates. Net loss for the quarter was […]

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Mexico GDP Growth Slows To 3.5% Amid Tertiary Sector Slowdown

Mexican economic growth moderated in the fourth quarter after accelerating in the previous two quarters, largely led by a deceleration in the growth of the tertiary sector, preliminary data from the National Institute of Statistics and Geography, or INEGI, showed on Tuesday. Gross domestic product advanced an unadjusted 3.5 percent year-over-year in the December quarter, slower than the 4.3 percent […]

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Novartis Stock Down On Weak Q4 Results; Sees Growth In FY23

Shares of Novartis AG were losing around 2 percent in the early morning trading in Switzerland after the drug major reported Wednesday sharply lower profit in its fourth quarter with weak sales as well as the absence of prior year’s hefty Roche income. Adjusted earnings, however, topped market estimates, while top line missed their view. Further, the company announced higher […]

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Swedish Economy Shrinks 0.6% In Q4

Sweden’s economy contracted in the final quarter of 2022, after expanding in the previous two quarters as rising interest rates, high inflation and uncertainty over the economic outlook likely damped spending at the end of the year, preliminary figures from Statistics Sweden showed on Monday. Gross domestic product declined 0.6 percent sequentially in the December quarter, reversing a 0.6 percent […]

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GE HealthCare Q4 Net Income Declines, Organic Revenues Up 13%; Reaffirms 2023 Guidance

GE HealthCare (GEHC) reported that its fourth-quarter adjusted EPS was $1.31 compared to $1.36, prior year. Standalone adjusted EPS for the fourth quarter of 2022 was estimated at $1.06, which included the impact of standalone costs, interest, and tax. Adjusted EBIT was $844 million compared to $827 million. Adjusted EBIT margin was 17.1% versus 18.0%, impacted by inflation, mix, planned […]

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Sri Lanka Central Bank Keeps Rates Steady Amid Economic Crisis

Sri Lanka’s central bank kept its key interest rates unchanged on Wednesday as runaway inflation showed signs of slowdown, and amid the country’s negotiations with the International Monetary Fund to secure a $2.9 billion rescue deal to get the economy back on track. The Monetary Board of the Central Bank of Sri Lanka decided to maintain the Standing Deposit Facility […]

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