Otis Worldwide Q4 Results Top Estimates; Guides FY24 In Line With View

Otis Worldwide Appoints Cristina Mendez As CFO

Otis Worldwide Corp. (OTIS) announced Friday the appointment of Cristina Mendez as Executive Vice President & Chief Financial Officer, reporting directly to Otis Chair, CEO and President, Judy Marks.

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Otis Worldwide Q4 Results Top Estimates; Guides FY23 In Line With View

Otis Worldwide Corp. (OTIS) reported Wednesday that net income for the fourth quarter grew $297 million or $0.71 per share from $281 million or $0.65 per share in the prior-year quarter.

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Swiss Market Settle Moderately Lower

The Switzerland market ended moderately higher on Tuesday, in line with markets across Europe, despite the U.S. clamping fresh tariffs on steel and aluminum imports.

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European Stocks Close Higher Despite Trump's Fresh Tariffs

European stocks closed higher on Tuesday, and several major markets recorded fresh record highs or multi-month highs, as investors continued to focus on earnings and other corporate news.

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U.S. Dollar Lower Against Euro, Pound

The U.S. dollar dropped against the euro and the pound in the New York session on Tuesday, as investors assessed the potential impact of new tariffs imposed by the Trump administration on steel and aluminum imports.

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Powell Reiterates Fed Doesn't 'Need To Be In A Hurry' To Lower Interest Rates

Federal Reserve Chair Jerome Powell delivered his semiannual monetary policy testimony before the Senate Banking Committee on Tuesday, reiterating his belief that the central bank does "not need to be in a hurry" to adjust its policy stance.

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BP Slips To RC Loss In Q4, Warns On Weak Production; Plans To Reset Strategy

British energy major BP Plc. reported Tuesday a replacement cost or RC loss in its fourth quarter, compared to prior year's profit, amid weak revenues. The company also warned on sequentially lower upstream production in its first quarter, and weak production in fiscal 2025.

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BoE's Mann Says Loosening Labor Market Will Restrain Price & Wage Growth

A further loosening of the UK labor market will restrain the growth in wages and prevent second-round effects from setting in, even if the near-term inflation expectations increase, Bank of England policymaker Catherine Mann said Tuesday. In a speech, Mann said the current and likely continued weak demand conditions will lead to a further loosening of the labor market.

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