US Business

The cuts follow a failed effort by owner Fortress to sell embattled digital publisher and its brands.

The company, which first filed confidentially for an IPO in late 2021, didn’t detail how many shares it would issue, or the price of each share.

Nestlé reported full-year earnings and sales that were just shy of expectations, and cautioned that sales growth will moderate this year as higher prices push shoppers to ease spending.

The world’s largest PC maker said it expects the global PC sector to recover to a level structurally higher than in the prepandemic period.

WPP’s full-year core profit slightly missed expectations and the advertising group guided for like-for-like revenue growth in 2024 of 0% to 1%, adding that it was confident of delivering accelerated and increasingly profitable growth over the medium term.

The company’s sales more than tripled as it scrambled to meet demand for chips that power AI systems.  Its shares rose 9% in off-hours trading.

Rolls-Royce Holdings reported underlying operating profit of £1.6 billion on a surge in sales that were above-forecast, and said its strong order delivery last year gave it confidence in its 2024 guidance.

Anglo American posted lower full-year underlying earnings that were slightly above consensus but it trimmed its dividend after net profit missed forecasts on weak prices and as it booked $2.1 billion in impairments.

Mercedes-Benz warned that 2024 underlying earnings would be slightly below last year’s levels on stable revenue expectations, adding the auto market faced an uncertain economic backdrop and possible “unexpected developments” from geopolitics and trade policy.

Glencore’s full-year adjusted earnings came in at $17.1 billion after coal prices retreated from the record highs that followed Russia’s invasion of Ukraine.