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  • Business
    Reuters

    Payments firm Fiserv raises full-year profit forecast

    Payments firm Fiserv raised its annual profit forecast on Wednesday and reported second-quarter earnings that rose 31% on the back of higher spending by affluent customers. WHY IT'S IMPORTANT Consumer spending grew in the second quarter on hopes of a soft landing for the economy, where inflation falls without a recession or big job losses. Wisconsin-based Fiserv collects fees from merchants, banks and credit unions for processing transactions.

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    Business
    Reuters

    Anglo to face investors with wary eye on BHP's potential return

    Anglo American investors will keenly scrutinize CEO Duncan Wanblad on Thursday as he gives an update on the London-based miner's strategy, just months after fighting off a $49 billion takeover bid from bigger rival BHP Group. While Wanblad pinned his approach on getting an early start with selling Anglo's coking coal assets in Australia, which the company said has drawn huge interest, an unexpected and unwieldy fire at its Grosvenor mine at one of the mines could torpedo the well-laid plans, setting the timing back with a possible hit to the deal's valuation. "Clearly, any updates on the simplification strategy will be closely watched," said Richard Hatch, analyst at Berenberg.

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    Business
    The Canadian Press

    Stock market today: Wall Street slides lower in premarket as Big Tech earnings underwhelm investors

    Markets on Wall Street logged losses in early trading Wednesday as the tech sector was dragged down by some uninspiring earnings from high-profile companies.

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    Business
    Reuters

    Canada June factory sales most likely fell 2.6%, Statscan flash estimate shows

    Canadian factory sales most likely fell 2.6% in June from May, largely due to the chemical product and transportation equipment subsectors, Statistics Canada said in a flash estimate on Wednesday. The estimate was calculated based on a weighted response rate of 71.0%. The average weighted response rate for the survey over the previous 12 months has been 94.4%.