2025-07-22 23:04

America Movil's earnings surpass analysts' forecasts Q2 swings to $1.19 billion profit after loss a year ago Group points to FX gains, more post-paid mobile users US tariffs helped weaken dollar versus many Latam currencies MEXICO CITY, July 22 (Reuters) - Mexican telecommunications giant America Movil (AMXB.MX) , opens new tab reported on Tuesday a swing to profit in the second quarter of 2025, surpassing analysts' forecasts and fueled by foreign exchange gains from currencies across Latin America. "Our integral financing costs decreased significantly thanks to which we were able to log 11 billion pesos in FX gains," America Movil said in a statement. Sign up here. Net profit for the group, controlled by the family of Mexican billionaire Carlos Slim, hit 22.28 billion pesos ($1.19 billion) in the three months through June, rebounding from a 1.09 billion peso loss in the same quarter a year earlier. Analysts polled by LSEG had expected a $1.13 billion profit. Revenues for the firm, which operates across Latin America and Europe, rose 14% to 233.79 billion pesos, or $12.46 billion, also above analysts' $12.00 billion forecast. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11% to 92.41 billion pesos. America Movil said its revenue was also inflated by the Mexican peso's depreciation against most currencies from other countries where the group operates. "The second quarter was characterized by significant uncertainty associated with the tariffs that the U.S. government seeks to impose on merchandise imports," it added, noting the U.S. dollar had as a result weakened against most currencies in its operating region. America Movil said its mobile services growth was driven by its post-paid segment, which added 2.9 million customers in the three months through June, including 1.4 million from Brazil. Its pre-paid platform, however, logged 1.1 million net disconnections. The firm also recorded 462,000 new broadband connections, half of which were in America Movil's home market of Mexico. ($1 = 18.7654 pesos at end-June) https://www.reuters.com/business/media-telecom/mexican-telecom-giant-america-movil-swings-profit-foreign-exchange-gains-2025-07-22/

2025-07-22 23:03

LONDON, July 23 (Reuters) - Pay settlements by British private-sector employers held at 3% in the three months to June, representing a pay cut in inflation-adjusted terms for many workers, according to a survey published on Wednesday. With the Bank of England watching for signs of weakening inflation pressure in the economy, the figures from wage data firm Brightmine represented the seventh monthly report in a row to show no change in private-sector pay deals. Sign up here. A year ago private sector settlements were running at 4.8%. "After a period of historically high settlements in response to inflation, we’re now seeing the return of employer pay restraint," Sheila Attwood, HR insights and data lead at Brightmine, said. "While 3% is consistent, it's also stagnant, and real-terms pay erosion is starting to reappear for many, meaning many workers are actually worse off this year compared to inflation." Britain's headline consumer price inflation rate rose to 3.6% in the 12 months to June, its highest in more than a year. However, a string of reports have suggested a weakening of the labour market. Brightmine's figures showed public sector pay settlements running at 4.3% and the threat of a strike by doctors showed that Prime Minister Keir Starmer's government remained vulnerable to public worker unions, Attwood said. "One year in, Labour faces growing pressure to balance fiscal restraint with rising pay demands across critical services — and that tension is only set to intensify," she said. Brightmine studied 195 pay settlements in the three months to June 30 covering more than 2.5 million employees. https://www.reuters.com/sustainability/sustainable-finance-reporting/uk-private-sector-pay-settlements-stagnate-3-brightmine-says-2025-07-22/

2025-07-22 22:54

July 22 (Reuters) - Enphase Energy (ENPH.O) , opens new tab forecast third-quarter revenue below Wall Street estimates on Tuesday and said President Donald Trump's import tariffs had impacted its gross margin, sending the solar inverter maker's shares down more than 7% after hours. U.S. trade officials in April finalized steep tariffs on most solar cells imported from Southeast Asia, after American manufacturers complained that companies from the region were flooding the market with unfairly cheap goods. Sign up here. Renewable energy companies such as Enphase are also facing significant uncertainty as Trump pushes to repeal or modify tax credits for solar and wind energy projects. The Senate's massive budget bill that passed this month will make it harder to develop wind and solar energy projects. The legislation sharply reduces access to a 30% tax credit for solar and wind power projects that had been set to run until 2032, and which developers had relied on for future projects. Enphase Energy now expects third-quarter revenue of between $330 million and $370 million, with the midpoint coming in below analysts' expectations of $369.7 million, according to data compiled by LSEG. The company also forecast third-quarter gross margin of between 41% and 44%, lower than the 46.9% reported in the second quarter. However, it beat second-quarter profit estimates as the company benefited from strong structural demand in the broader solar industry. It posted an adjusted profit of 69 cents per share for the quarter ended June 30, compared with estimates of 62 cents. https://www.reuters.com/business/energy/enphase-energy-forecasts-third-quarter-revenue-below-estimates-shares-fall-2025-07-22/

2025-07-22 22:47

WASHINGTON, July 22 (Reuters) - U.S. Energy Secretary Chris Wright said on Fox News on Tuesday that sanctioning Russian oil to end the Ukraine war is a "very real possibility." President Donald Trump said this month that Washington could put 100% tariffs on buyers of Russian oil and impose other sanctions if Moscow does not agree to a major peace agreement with Ukraine, a deadline that ends in early September. Sign up here. "It is huge pressure on Russia," Wright said in an interview on Fox News' "Special Report with Bret Baier." "That's the biggest pressure you can put on them," Wright said. The U.S. is the world's top producer of oil and gas, a position Wright said means the U.S. can take action that was previously unthinkable. "We're able to do things that we couldn't do before," he said. Despite that position, the Trump administration has not yet put major oil sanctions on Russia, preferring to impose them on OPEC producer Iran since the president took office for a second time in January. https://www.reuters.com/business/energy/us-energy-chief-says-sanctioning-russian-oil-end-ukraine-war-possibility-2025-07-22/

2025-07-22 22:16

LNG carrier would be built in Korea, flagged in US Deal lands as US works to revive shipbuilding New US rules would require transport on US-built ships July 22 (Reuters) - Hanwha Shipping, a U.S. subsidiary of Korean shipbuilder Hanwha Ocean (042660.KS) , opens new tab, on Tuesday said it ordered a liquefied natural gas carrier valued at roughly $252 million from its own Pennsylvania-based unit Hanwha Philly Shipyard. Under the agreement, the ship will be built in Korea and flagged in the United States. It is slated for delivery in the first half of 2028. Sign up here. The deal comes as the United States works to revive domestic shipbuilding and expand its fleet of commercial and military vessels. Hanwha Systems (272210.KS) , opens new tab and Hanwha Ocean bought Philly Shipyard for $100 million in December. "This agreement looks to be a 'first step' in building out U.S. shipyard capacity," said Jefferies shipping analyst Omar Nokta, who noted that the U.S. is the largest LNG exporter with a market share of nearly 25%. Hanwha Shipping said the deal was the first U.S. order for a domestic-flagged LNG carrier in nearly 50 years. The agreement "reinforces Hanwha's global leadership in LNG carrier construction, which we are eager to replicate in the U.S.," said Ryan Lynch, CEO of Houston-based Hanwha Shipping. Most of the vessel will be built at Hanwha Ocean's plant in Geoje, South Korea, the companies said. Workers from Philly Shipyard will travel to Geoje for training, a Hanwha Shipping spokesperson said. Philly Shipyard will oversee regulatory compliance and safety certifications required for the ship's U.S. registry. Earlier this year, the United States Trade Representative said LNG producers would be required to transport 1% of their exports on U.S.-built ships starting in April 2029. That percentage would escalate to 15% in April 2047 and beyond. Hanwha Ocean said the contract is valued at 348 billion South Korean won ($252.03 million) and has an option for an additional vessel. ($1 = 1,380.8100 won) https://www.reuters.com/business/energy/hanwha-entities-build-us-flagged-lng-carrier-2025-07-22/

2025-07-22 21:53

Stone Ridge Energy emerged as top bidder in auction of assets Flywheel Energy to operate assets on behalf of Stone Ridge, source says ConocoPhillips aims to surpass $2 billion divestment target NEW YORK, July 22 (Reuters) - U.S. oil and gas producer ConocoPhillips (COP.N) , opens new tab is in advanced talks to sell assets in Oklahoma to privately owned Stone Ridge Energy for around $1.3 billion, three people familiar with the matter told Reuters on Tuesday. Oklahoma City-based Flywheel Energy, a private oil and gas company backed by Stone Ridge Energy, will operate the assets on its backer's behalf, one of the sources said. Sign up here. The sources cautioned that no deal is guaranteed and talks could still end without an agreement. They also spoke on condition of anonymity to discuss private deliberations. ConocoPhillips declined to comment. Stone Ridge Energy, the energy-focused arm of New York-based Stone Ridge Asset Management, did not immediately respond to a request for comment. Flywheel, which also counts commodities trader Gunvor among its investors, did not immediately respond to requests for comment. Reuters reported in April that ConocoPhillips had hired investment bank Moelis & Co (MC.N) , opens new tab to manage an auction of the assets, which are comprised of operations in the Anadarko basin inherited by the energy producer as part of its $22.5 billion takeover of Marathon Oil last year. As part of the deal, Stone Ridge Energy will acquire 300,000 net acres (121,406 hectares) in the Anadarko shale formation, which produce about 39,000 barrels of oil equivalent per day, of which about half is natural gas. If completed, the asset sale would help ConocoPhillips surpass a target to raise $2 billion from divestments. Conoco set that target after it took on about $5.4 billion of Marathon's debt as part of that acquisition. https://www.reuters.com/legal/litigation/conocophillips-nears-sale-oklahoma-assets-stone-ridge-energy-sources-say-2025-07-22/