The French car maker's quarterly revenue came in at 9.78 billion euros ($9.57 billion), up 20% from EUR8.12 billion a year earlier. At constant scope and exchange rates, revenue was up 19%. An analysts' consensus provided by FactSet had forecast the figure at EUR9.44 billion.
Telia Co. Cuts Guidance Amid Higher Energy Costs, 3Q Net Profit Missed Views
Telia Co. AB on Friday reported slightly worse-than-expected third-quarter net profit and downgraded its guidance amid high current energy prices.
The Swedish telecommunications operator said it made a third-quarter net profit of 1.71 billion kronor ($151.8 million), compared with SEK1.58 billion a year earlier and the SEK2.1 billion expected in a FactSet poll.
EssilorLuxottica 3Q Revenue Boosted by Summer Sunglasses Sales
EssilorLuxottica SA said Friday that revenue in the third quarter picked up thanks to strong sunglasses sales in Europe over the summer and reopenings in China.
The Franco-Italian eyewear group made total revenue of 6.39 billion euros ($6.25 billion) in the July-September period, 8.2% higher on year at constant currency. This was in line with analysts' expectations, taken from a FactSet-compiled poll of estimates.
Ukrainians Urged to Ration Electricity as Russian Missiles Target Energy Infrastructure
KYIV, Ukraine-Russia's attempts to destroy Ukraine's heating and power capacity has added a new dimension to the conflict, with Moscow seeking to erode the resilience of Ukrainian civilians even as the Kremlin attempts to regain the initiative against Kyiv on the battlefield.
Kyiv says the systematic destruction of power stations and heating infrastructure across the country over the past 10 days aims to bend Ukrainians' will by causing a humanitarian catastrophe as temperatures drop.
Iranian Crackdown on Protests Imposes Economic Toll
The Iranian government's crackdown on the weekslong protest movement is taking a growing toll on the country's sanctions-pummeled economy, hitting a broad swath of ordinary citizens, as authorities' slowdown of the internet has choked vital payment channels for businesses.
So far, Iran's internet restrictions have cost the IT industry and businesses around $24 billion, according to a member of the Tehran Chamber of Commerce, Farzin Fardis, cited by the reformist-affiliated news outlet Entekhab. Mr. Fardis also said that over the past month, up to 700,000 shops selling goods through the social-media app Instagram had closed down.
Iran Is Training Russian Drone Pilots in Crimea to Aid Moscow's War Effort, U.S. Says
WASHINGTON-Iranian personnel have been working in Crimea to train Russian pilots to use Iranian-made drones, the U.S. said Thursday, as Moscow attempts to maintain its hold on the territory in southern Ukraine
The statement by John Kirby, the National Security Council's Coordinator for Strategic Communications, marks the first official U.S. accusation that Iran is directly involved in the war in Ukraine.
GLOBAL NEWS
Earnings Are About to Get Even Crazier. 5 Things to Watch in Big Tech's Results Next Week.
Brace yourself. This coming week, the world's largest tech companies all report their September-quarter financial results. And I mean all of them-Alphabet, Microsoft, Meta Platforms, Apple, Amazon.com, and Intel, with special guest appearances from SAP, Shopify, Spotify, Seagate, ServiceNow, and Corning. Every one of these companies reports results in a three-day span, from Tuesday to Thursday. At least 25% of the S&P 500's market value will be reporting during the stretch.
It will be the last full read on the sector's fundamental performance before the end of the year, and the wave of reports could determine the next swing in stock prices. The tech sector continues to face fierce headwinds from the strong dollar, softening consumer spending, rising interest rates, stubbornly high inflation, and a potential recession. The market is yearning for some hint that the worst is over, but don't hold your breath.
Southern California's Notorious Container Ship Backup Ends
The backup of container ships off Southern California's coast that was at the heart of U.S. supply chain congestion during the Covid-19 pandemic has effectively disappeared.
The queue of ships waiting to unload at the ports of Los Angeles and Long Beach fell from a peak of 109 ships in January to four vessels this week, according to the Marine Exchange of Southern California. Shipping specialists say fewer ships than normal are heading to the main U.S. gateway complex for imports from Asia in coming days and that cargo volumes that had long swamped the ports now are receding.
Japan Finance Minister Reiterates Concerns Over Yen's Rapid Fall
Japan's finance minister on Friday reiterated concerns about the yen's rapid falls and his readiness to intervene in the foreign-exchange market.
"There is no change at all in our stance that we will take appropriate action, if there are any excessive moves" in the currency market, Shunichi Suzuki said at a news conference.
Write to paul.larkins@dowjones.com
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
10-21-22 0559ET
