OPEC+ agrees to 548,000 bpd oil output hike for Sept, sources say
The group will hold its next meeting on September 7, one of the sources said.
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Reuters
19 minutes ago
- Reuters
Merck KGaA raises forex-adj profit guidance on drugs, lab gear
FRANKFURT Aug 7 (Reuters) - Germany's Merck KGaA ( opens new tab on Thursday raised its full-year operating earnings guidance, excluding the effect of harsh foreign exchange headwinds, citing a strong performance at its pharmaceuticals and lab equipment businesses. In a statement, Merck predicted organic growth in earnings before interest, tax, depreciation and amortisation, adjusted for one-off items, of 4% to 8%, where it had previously seen a range between 2% and 7%. Cost cuts were also a driver, it added. Hit by a weak U.S. dollar that is weighing on the value of Merck's overseas revenues, second-quarter adjusted EBITDA slipped 3% to 1.46 billion euros ($1.70 billion), below an analyst consensus of 1.52 billion posted on the company's website. The company, also a maker of materials for semiconductor manufacturing, narrowed its guidance range for organic sales growth to 2% to 5%, where it had previously seen a gain of 2% to 6%. Merck in April struck a deal to buy U.S. biotech company SpringWorks Therapeutics for $3.9 billion to add rare cancer therapies ahead of expected revenue losses linked to expiring drug patents. ($1 = 0.8568 euros)
BreakingNews.ie
19 minutes ago
- BreakingNews.ie
Man who sought reduced working hours after strokes settles discrimination case
A man who asked for reduced working hours after having two strokes has settled a disability and age discrimination case against his former employer for £100,000. Property developer Fraser Partners Ltd settled the case with Clifford Donaldson, who was supported by the Equality Commission for Northern Ireland, without admission of liability. Advertisement Mr Donaldson was employed by the firm as a site manager for more than seven years. In January 2023, he had two strokes that impacted on his speech and movement. After a short period of sick leave, he returned to work on a phased basis. Mr Donaldson said he asked for a reduction in his working hours to 30 hours a week, with a reduced salary. Advertisement In the summer of 2023, the company recruited a new site manager who was younger. Mr Donaldson was told that his own employment would end in September 2023. He alleged that he was told the new site manager would now manage the housing construction over three sites. Mr Donaldson said he was later offered a potential consultancy role to commence after his employment ended, but he says it came with no guarantee of hours or duration. He did not take up this offer and his employment with the company finished in September 2023. Advertisement Mr Donaldson said: 'This has been a very difficult experience for me and my family. 'I was shocked to learn I was being replaced, and that my employment was ending. 'I wanted to continue working. It was an awful way to be treated after years of dedication to the business. 'I believe assumptions were made about my ability following my strokes. I needed some understanding. Advertisement 'Instead, I felt abandoned, like I was only fit for the scrap heap because of my strokes and my age. 'I'm relieved the case is settled and I can move forward.' Geraldine McGahey, chief commissioner of the Equality Commission, said: 'Employers must be aware that employees like Cliff who acquire a disability have protections under the Disability Discrimination Act. 'They simply cannot make assumptions about their employees' workplace capabilities. 'Instead, they must communicate clearly with employees to fully understand their needs. 'The law requires that reasonable adjustments must be considered and implemented where appropriate. It is vital that all staff, especially line managers, are fully informed of these obligations.' She added: 'The Equality Commission provides expert advice and practical guidance to help employers develop effective policies and procedures. 'Making use of this support will help ensure compliance with Northern Ireland's equality laws and create a more inclusive workplace'. In settling the case, Fraser Partners Ltd affirmed its strong commitment to the principle of equality of opportunity in employment. The company also undertook to liaise with the Equality Commission for Northern Ireland to review its policies and procedures.
Reuters
19 minutes ago
- Reuters
Rheinmetall slightly misses Q2 sales expectations but confirms target
BERLIN, Aug 7 (Reuters) - Rheinmetall ( opens new tab on Thursday posted slightly worse-than-expected second-quarter sales due in part to a delay in German defence contracts being awarded but confirmed its full-year forecast. The German defence company reported sales of 2.43 billion euros ($2.84 billion) in the three months to June, below the 2.53 billion euro consensus forecast according to a company-provided poll. ($1 = 0.8569 euros)
