US Business

AstraZeneca reported core earnings for the fourth quarter just short of consensus, but said it expected double-digit percentage growth in 2024.

British American Tobacco reported full-year adjusted profits below consensus but backed its growth forecast for 2024, and cautioned that investment to strengthen its U.S. business would weight its performance to the second half.

Maersk suspended its share buyback program as it moved to preserve cash, with uncertainty surrounding disruption in the Red Sea and as industry overcapacity continued to drag on freight rates.

Gucci owner Kering warned that recurring operating income in 2024 would fall short of last year’s figure, particularly in the first half, with investments and a normalization of sales growth across the sector seen weighing on its profits.

Barratt Developments has agreed to buy smaller housebuilder Redrow for £2.5 billion in an all-share deal.

South Korea’s LG Chem has signed a $19 billion deal with General Motors to supply cathode materials used to make electric-vehicle batteries.

TotalEnergies said it would increase its dividend and investor payouts this year, after it posted profits of more than $5 billion in the fourth-quarter, below expectations.

Carlsberg targeted 1%-5% operating profit organic growth this year, and said it would step up investments in the Chinese and Vietnamese markets and its premium brands, expecting long-term revenue growth slightly higher than previously forecast.

The chief executive officer of Douyin, the Chinese version of TikTok, has stepped down to take on other responsibilities, a company spokeswoman said Wednesday.

China’s biggest solar companies are expanding in the U.S., where they will reap generous government subsidies.