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  • Business
    Reuters

    Genuine Parts lifts profit forecast as US prospects brighten

    In the past months, the company has been implementing pricing initiatives and strategic sourcing programs to perk up slowing sales in its U.S. automotive segment that was hurt by high costs and other inflationary pressures. It reaffirmed its sales growth forecast of 3% to 5% for the full year. Genuine Parts reported an adjusted profit of $2.22 per share for the quarter ended March 31, beating analysts' estimate of $2.16 per share.

  • Business
    The Canadian Press

    Stock market today: Wall Street rises in premarket as bond markets stabilize and earnings roll in

    Wall Street pointed higher in premarket trading Thursday as bond markets stabilized and more corporate earnings trickled in. Futures for the S&P 500 and the Dow Jones Industrial Average rose 0.2% before the bell. Alaska Air, the carrier that suffered a midflight blowout of a door plug on a Boeing aircraft in January, took a $162 million hit in its most recent quarter after it grounded its entire Boeing 737 Max fleet, but it projected better-than-expected profits the current quarter. Its losses f

  • Business
    The Canadian Press

    Electric vehicle maker Lion Electric cuts about 120 jobs as it looks to reduce costs

    MONTREAL — The Lion Electric Co. says it's cutting about 120 jobs as part of a plan to reduce costs. The Montreal-based maker of electric trucks and buses says the cuts are mostly Canadian employees in overhead and product development roles. The move comes after the company announced that it was cutting more than 100 employees in February and 150 workers in November last year. Lion Electric says it will have approximately 1,150 employees, after the cuts. The company says it is also moving to red

  • Business
    Reuters

    Marsh & McLennan's first-quarter profit beats on higher fiduciary interest income

    The U.S. Federal Reserve's higher-for-longer interest rate environment has helped such companies rake in higher income on funds they hold in a fiduciary capacity, that is, on behalf of clients. Marsh & McLennan's fiduciary interest income rose 34% to $122 million in the first quarter. The New York-based company's revenue streams are diversified across insurance brokerage, consulting, reinsurance brokerage, talent management and investment management services.