2026-01-21 11:54
Q4 adjusted EPS 69 cents vs forecast 55 cents Q4 international revenue up 2.9%, North America flat Jan 21 (Reuters) - Halliburton (HAL.N) , opens new tab surpassed analysts' expectations for fourth-quarter profit on Wednesday, on the back of steady demand for its services and equipment in international markets. Shares of the oilfield services company rose nearly 2.6% in premarket trading. Sign up here. The Houston-based company, which kicked off the earnings season for U.S. oilfield services providers, has focused on international markets, particularly Latin America, Europe and Africa, as North America drilling and production activity has remained tepid. NORTH AMERICA REVENUE FLAT Quarterly revenue from Halliburton's international business rose 2.9% to $3.5 billion, due to higher completion tool sales in Brazil, North Sea and the Caribbean, as well as higher software sales in Mexico, the company said. Improved well construction activity in Africa, and higher stimulation activity in Angola also helped earnings. North America revenue was flat at $2.2 billion. "I expect North America is the first to respond when macro fundamentals improve," CEO Jeff Miller said. Halliburton posted an adjusted profit of 69 cents per share for the three months ended December 31, compared with analysts' expectations of 55 cents per share, according to estimates compiled by LSEG. The company recognized a pre-tax charge of $83 million, partly related to an impairment of assets held for sale and severance costs. Halliburton was among the oil companies that met with the White House earlier this month to discuss potential investment in Venezuela. Miller had said the company was "very interested" in returning. https://www.reuters.com/business/energy/halliburton-beats-estimates-fourth-quarter-profit-2026-01-21/
2026-01-21 11:53
Jan 21 - What matters in U.S. and global markets today By Mike Dolan , opens new tab, Editor-At-Large, Finance and Markets Sign up here. World markets took a sharp intake of breath first thing Wednesday as a heavy selloff in stocks, bonds and the dollar abated while investors waited to hear from President Trump in Davos later in the day. What will Trump do next regarding his tariff threats against Europe over Greenland? That is hard to gauge, even though the President insists he won't back down and European leaders are standing firm on their pledge to retaliate if February 1 tariffs take effect. I’ll get into all that and more below. But first, check out my latest column on why the prospect of rising Treasury yields may make the Trump administration think twice about initiating a Transatlantic trade war. And listen to the latest episode of the Morning Bid daily podcast. Subscribe to hear Reuters journalists discuss the biggest news in markets and finance seven days a week. Today's Market Minute * U.S. President Donald Trump arrives in Davos on Wednesday and is likely to use the WEF to escalate his push to acquire Greenland despite European protests. * Britain and China aim to revive a "golden era" business dialogue when Prime Minister Keir Starmer makes a planned Beijing visit next week, said three sources familiar with the initiative. * Netflix has switched to an all-cash offer for Warner Bros Discovery's studio and streaming assets without increasing the $82.7 billion price in a bid to shut the door on Paramount's rival efforts to snag the Hollywood giant. * Europe's dependence on U.S. energy could become a bargaining chip for President Trump in the standoff over Greenland, writes ROI Energy Columnist Ron Bousso. * How exactly does an investor price global regime change? ROI Markets Columnist Jamie McGeever considers this question in his latest column. TRUMP LANDS, MARKETS WAIT After their biggest one-day selloff in three months on Tuesday, Wall Street stock futures, the dollar and Treasuries stabilised somewhat on Wednesday, but the simmering tension was clear in gold's renewed climb to record highs just shy of $4,900 per ounce early in the session. Despite delays in his flight to Switzerland, Trump's set-piece speech is still scheduled to start just before Wall Street reopens. The president is expected to focus on his election year 'affordability' push - something a new spike in Treasury yields over Transatlantic trade tensions could hurt. But everyone's main focus will be what Trump signals on the Greenland row and whether recent turbulence will leave lasting damage or give way to another ‘TACO’ trade. Meantime, Trump's political pressure on the Federal Reserve comes back into focus in Washington later in the day as the Supreme Court begins hearing arguments in Fed Governor Lisa Cook's legal challenge to Trump's attempt to fire her. Embattled Fed Chair Jerome Powell is due to attend those hearings, a move Treasury Secretary Scott Bessent said was a mistake. Elsewhere, bond markets around the world calmed somewhat as the blistering surge in Japanese debt yields on election concerns abated on Wednesday. U.S. Treasuries staged a similar recovery. Japan’s bond market may prove more intransigent in the long term, however, as some voices noted investors’ alarm at Prime Minister Sanae Takaichi’s plan to cut a consumption tax rate long regarded as untouchable. The dollar index rose for the first time this week after a 0.5% overnight drop, while the euro and safe-haven Swiss franc both weakened slightly. The yen strengthened modestly ahead of Friday’s Bank of Japan policy meeting, where no rate hike is expected at this time, though policymakers may signal a rise as soon as April. In earnings news, Netflix stock fell more than 4% overnight after the streaming giant's earnings outlook and new all-cash offer for Warner Brothers Discovery jarred investors that fretted about the impact it will have on the company’s margins and stock buybacks. Chart of the day Netflix beat Wall Street's revenue and earnings estimates for its holiday quarter on Tuesday but its shares tumbled more than 4% in after-hours trading, as the streaming giant remains locked in a fierce bidding war for Warner Bros Discovery. Netflix reported earnings on the same day it announced an all-cash offer of $82.7 billion deal for WBD, a transaction that all but eclipsed its fourth-quarter results. Its full-year outlook was at the lower end of forecasts and Netflix told investors it would pause share buybacks to accumulate cash for the Warner deal. Today's events to watch * U.S. President Donald Trump speaks at the WEF in Davos * U.S. Supreme Court hears arguments in Federal Reserve Governor Lisa Cook's legal challenge to her attempted dismissal * U.S. corporate earnings: Citizens Financial Group, Halliburton, Johnson & Johnson, Kinder Morgan Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website , opens new tab, and you can follow us on LinkedIn , opens new tab and X. , opens new tab Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. https://www.reuters.com/business/finance/global-markets-view-usa-2026-01-21/
2026-01-21 11:52
Union demands safety assurances after deadly train crashes Infrastructure operator warned of track wear before Adamuz crash Commuters face chaos, scramble for alternatives MADRID, Jan 21 (Reuters) - Spain's biggest train drivers' union on Wednesday called a three-day nationwide strike for February 9-11 to demand measures to guarantee railway safety after three derailments in 48 hours caused crashes that left dozens dead, including two drivers. A commuter train derailed on Tuesday after a retaining wall collapsed onto the track during heavy rains in Gelida, near Barcelona, killing the driver and seriously injuring four passengers. Sign up here. It came after two trains collided on Sunday near Adamuz in the southern province of Cordoba, in one of Europe's worst train accidents. A train driver was among the 43 people who died. A large piece of machinery found near the Adamuz crash site may be the missing chunk of undercarriage that investigators have been searching for to determine why the accident happened, a source and experts said on Wednesday. Transport Minister Oscar Puente told reporters that investigators had analysed and taken pictures of that piece, adding that it appeared logical to believe the piece flew out into a stream after the two trains collided. Puente said authorities are working towards resuming the Madrid-Andalucia rail link, which has been suspended since Sunday's accident, on February 2. A third derailment of a train on Barcelona's regional network on Tuesday, which left no injuries, was caused by a rock falling on the line during the same storm, rail network operator Adif said. "The serious accidents in Adamuz and Gelida, both with fatalities, are a turning point in demanding all necessary actions to guarantee the safety of railway operations," the train operators' union SEMAF said in a statement. It added that it would demand criminal liability from "those responsible for ensuring safety in the railway infrastructure". UNION HAD WARNED OF WEAR AND TEAR SEMAF had warned Adif in a letter last August of severe wear and tear to the railway track where the two trains crashed, according to a copy of the letter seen by Reuters, saying potholes, bumps, and imbalances in overhead power lines were causing frequent breakdowns and damaging the trains on several of the network's high-speed lines. "We do not share (the view) that a general strike is the best approach," Puente told reporters, adding that he would meet with unions. He ruled out the Adamuz accident being triggered by a human factor but said the technical cause has not been yet determined and appeared to be very complex. He said small marks were found on the front bogies of the derailed train and some earlier trains, but said it would be premature to link them directly to infrastructure defects. PRISING APART THE CARRIAGE Rescuers at the Adamuz crash site found another body, increasing the death toll to 43, as they prised apart the second carriage of the train belonging to state operator Renfe, which contained its cafeteria, the Andalusian regional government said in a statement. Overnight they had used cranes to remove one of the final carriages of the derailed train run by private consortium Iryo from the scene. Puente said the time between the derailment and the collision was just nine seconds, giving the trains no time to brake. Authorities had previously said the gap was 20 seconds. Recordings of the phone calls between the driver of the Iryo train and the control centre in Madrid suggest he and passengers travelling in the front five carriages hadn't initially realised there had been a crash with another train, Puente said. It was only after climbing down from the train to inspect it and seeing the damage to the rear carriages that he made another call to ask for ambulances to be sent. Adif said on Wednesday it had introduced a further speed limit on the Madrid-Barcelona line after a driver had reported poor conditions on the track in a 78-kilometre stretch. On Tuesday, it had ordered drivers to limit their speed because of concerns about the state of the track. Its maintenance team had worked overnight to inspect the line and found four points that needed to be repaired, Adif said in a statement. Trains travelling between Madrid and the eastern city of Valencia have also been ordered to cap their speed on a 1.8-km stretch of the line, Adif said on Wednesday. Regional trains across Catalonia were suspended on Wednesday to allow for track inspections after recent storms. Renfe posted a photo of its President Alvaro Fernandez Heredia using a replacement bus service as he travelled back to Madrid from Adamuz. https://www.reuters.com/world/spanish-train-drivers-call-strike-after-deadly-derailments-2026-01-21/
2026-01-21 11:44
ContiTech full-year margin below forecast Sale of ContiTech is on track OESL business sale to close in Q1 Shares slide 1.4% Jan 21 (Reuters) - German car parts supplier Continental (CONG.DE) , opens new tab on Wednesday reported preliminary full-year sales and profit margin around the lower end of its guidance range. The group said sales are expected to come in at around 19.7 billion euros ($23.1 billion) for 2025, compared with its guidance range of 19.5-21 billion euros. Sign up here. The group's margin of adjusted earnings before interest and tax (EBIT) over sales in 2025 is expected at 10.2%, meeting its guidance range of between 10% to 11%, the company said in a statement. However, the margin in the rubber and plastics division ContiTech would be around 4.9%, falling short of its outlook of 6%-7%, the company said, explaining the reasons with, among others, the lack of market recovery, transformation expenses and currency effects. "Nevertheless, this does not affect our plans to sell ContiTech this year," CFO Roland Welzbacher said in a statement, referring the lower-than-expected results in the division. "Strong interest from potential buyers confirms ContiTech's value and potential," Welzbacher added. The divestiture offers additional cash return opportunities, J.P.Morgan said in a note. The group said in December that it was planning to sell the rubber and plastics division in the second half of 2026. Additionally, the company specified that the closing period of the sale of its Original Equipment Solutions (OESL) business is anticipated in the first quarter of 2026. Continental shares slid 1.4% at 1118 GMT. ($1 = 0.8543 euros) https://www.reuters.com/business/continental-reports-full-year-sales-within-own-guidance-2026-01-21/
2026-01-21 11:27
MUMBAI, Jan 21 (Reuters) - Gold premiums in India surged past $100 an ounce on Wednesday for the first time in more than a decade, with silver premiums at a record high, as traders priced in possible curbs on precious metals imports to shore up the rupee. Bullion dealers charged a premium of up to $112 per ounce over official domestic gold prices – inclusive of 6% import and 3% sales levies – the highest since May 2014. Last week, dealers offered a discount of up to $12. Sign up here. Silver premiums surged to $8 per ounce, surpassing the previous peak of $5 scaled in October. India is the world's second-largest consumer of gold and the largest consumer of silver. The rupee slipped to a record low of 91.7425 against the U.S. dollar on Wednesday. "People are speculating that the government may raise import duties on gold and silver to curb imports in the budget," said Chanda Venkatesh, managing director of Hyderabad-based bullion merchant CapsGold. "Anticipating the hike, traders are charging premiums over record prices." Finance Minister Nirmala Sitharaman is set to present the Union Budget for 2026/27 on February 1. She had slashed import duties on gold and silver to 6% from 15% in July 2024 to curb smuggling. India meets most of its gold and silver demand through imports, which have surged in recent months, widening the trade deficit and putting pressure on the rupee . Local gold prices soared to an all-time high of 158,339 rupees per 10 grams, while silver surged to a record 335,521 rupees per kilogram. "Traders with short positions were squeezed as prices rose, forcing them to buy to close their positions," said Prithviraj Kothari, president, India Bullion and Jewellers Association (IBJA). While jewellery demand is down, investment in coins, bars, and exchange-traded funds has surged, Kothari said. "Supply hasn't kept up. This shortage is causing sellers to charge higher premiums," said Chirag Thakkar, chief executive of Amrapali Group Gujarat, a leading importer. The industry is concerned that the government may take steps to restrict bank funding currently used by jewellers for gold and silver imports, a move that is also lifting premiums on both metals, said Surendra Mehta, secretary, IBJA. India's Ministry of Commerce and Industry did not immediately respond to a Reuters request for comment. https://www.reuters.com/world/india/gold-silver-premiums-india-surge-import-duty-hike-bets-2026-01-21/
2026-01-21 11:27
PARIS, Jan 21 (Reuters) - French dairy group Lactalis said on Wednesday its nutrition unit was recalling batches of baby milk in 18 countries, due to the presence of a toxin also cited in a recall by Nestle of some batches of infant nutrition products earlier this month. "Lactalis Nutrition Santé (LNS) is voluntarily recalling six batches of Picot brand infant milk, available in pharmacies and supermarkets, due to the presence of cereulide in an ingredient sourced from a supplier," it said in a statement. Sign up here. Cereulide, a substance of bacterial origin, may cause diarrhoea and vomiting, the statement said. A Lactalis spokesperson told Reuters that the recall concerned 18 countries: Australia, Chile, China, Colombia, Congo, Czech Republic, Ecuador, France, Georgia, Greece, Kuwait, Madagascar, Mexico, Monaco, Spain, Peru, Taiwan and Uzbekistan. It follows an alert issued by the French professional association for infant nutrition concerning the potential presence of cereulide in an ingredient (omega 6 ARA) sourced from an international supplier and used in the composition of certain infant milks, Lactalis said. Lactalis, one of the world's largest dairy groups, had already had to proceed to a mass recall of infant formula in 2017 and 2018 after dozens of babies were infected with salmonella after drinking tainted baby formula produced by the company. https://www.reuters.com/business/healthcare-pharmaceuticals/frances-lactalis-recalls-batches-baby-milk-france-2026-01-21/
