(Reuters) - Beyond Meat posted wider-than-expected quarterly loss and an 18% drop in revenue as its higher priced plant-based meat products hit volumes.
WHY IT'S IMPORTANT
Demand for Beyond Meat's products - including burger patty, sausages and ground beef - weakened as their customers such as McDonald's and Yum Brands saw sluggish consumer demand owing to sticky inflation.
CONTEXT
While Beyond Meat increased... (continue reading...)
NEW YORK (Reuters) - Extreme heat and rising electricity demand are expected to drive up power prices in Texas this summer, while the rest of the U.S. power markets are broadly pricing lower, according to analysts and data this week.
WHY IT'S IMPORTANT
Imbalances in U.S. power supply and demand, along with extreme weather, can lead to wholesale power price spikes that can eventually be passed down to businesses and households.
... (continue reading...)LOS ANGELES (Reuters) -Walt Disney and Warner Bros Discovery will offer a bundle of the Disney+, Hulu and Max streaming services in the United States starting this summer, the companies said in a statement on Wednesday.
Customers will be able to sign up on any of the three individual websites and chose from an ad-free or ad-supported plan. No prices were disclosed.
Both companies are trying to build their streaming businesses as customers... (continue reading...)
FRANKFURT (Reuters) - German Chancellor Olaf Scholz on Thursday denounced calls to weaken the role of the European Union as self-destructive and irresponsible, speaking ahead of EU parliamentary elections in June.
In a video message posted on the government's website, Scholz said some populists wanted Germany to leave the European Union, others wanted to "wind down" the bloc, and others saw Russia or China as role models.
"What... (continue reading...)
(Reuters) - Chemicals maker Celanese beat first-quarter profit estimates on Wednesday, helped by a steady rise in demand for its products amid persistent destocking trends.
Destocking, a process by which companies offload excess inventory, had plagued chemicals companies amid soft demand. This trend, however, is expected to slow down this year as demand picks up in key regions such as the U.S., Europe and China.
The company said volumes... (continue reading...)
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