Business

AT&T beats revenue estimates as reopening helps phone sales

AT&T Inc beat Wall Street revenue targets as the reopening of the U.S. economy following pandemic-linked restrictions boosted smartphone sales and the media business. Shares of AT&T surged 5.3% to $31.70 in morning trading. The company said on Thursday it added 595,000 net wireless phone subscribers in the first quarter, more than double what analysts […]

Business

U.S. existing home sales drop to seven-month low

U.S. home sales fell to a seven-month low in March, pulled down by an acute shortage of properties, which is boosting prices and making owning a house more expensive for some first-time buyers. Existing home sales dropped 3.7% to a seasonally adjusted annual rate of 6.01 million units last month, the lowest level since August […]

Business

Spain’s hotel owners not ready to check out as investors circle

Having enjoyed several boom years before the pandemic, most hotels are well-capitalised, with state-backed funds providing the support they need to ride out the crisis – in stark contrast to Spain’s 2008-2013 downturn, which left deep economic scars and led to forced real estate sales. Tourism in Spain – the world’s second-most visited country before […]

Business

Biogen shares fall as Alzheimer’s drug concerns cloud profit beat

Biogen Inc beat estimates for quarterly profit on stronger-than-expected sales for its muscle wasting disorder drug, although concerns over its reliance on its yet-to-be approved Alzheimer’s therapy, aducanumab, weighed on shares. The drugmaker declined to provide details on talks with the U.S. FDA about the drug’s product label, which analysts said could be interpreted as […]

Business

Reprieve for Spanish plant highlights Airbus restructuring challenge

Airbus has defused a row over the future of a factory in southern Spain, but the Cadiz plant and its 300 jobs remain on the “critical” list in a potential setback to completion of a company-wide restructuring, industry sources said. Airbus on Wednesday cancelled long-deferred plans to sell two French and German units and announced […]

Business

Vivendi’s books, music records propel first-quarter sales

Vivendi’s first-quarter revenue grew 5% from a year earlier, the French media giant said on Thursday, driven by the prolonged strong performance of its music unit Universal and a sales jump at its publishing division. The Paris-based group, controlled by billionaire Vincent Bollore, is seeking to cash in on the music industry’s revival by listing […]