LONDON (Reuters) -British consumers have turned a bit more confident this month after the latest interest rate cut by the Bank of England but are vulnerable to worries about rising inflation and potential tax increases, a survey showed on Friday. The August reading of market research firm GfK’s consumer confidence index rose to its highest …
UK consumers gain confidence after Bank of England rate cut, GfK says Read More »
VILLA HIDALGO YALALAG, Mexico (Reuters) -Adidas executives visited a small Indigenous town in the mountains of southern Mexico on Thursday to offer an apology over a sandal-inspired shoe design that Mexico’s government had blasted as cultural appropriation. The German sportswear company sent representatives from its Mexican unit to Villa Hidalgo Yalalag, a town in Oaxaca …
Adidas visits Indigenous Mexican town to apologize for sandal design Read More »
By Akash Sriram (Reuters) -A coalition of U.S. labor unions and progressive advocacy groups urged state financial officers overseeing public pension funds to oppose fresh pay awards for Tesla CEO Elon Musk, warning the excessive cost poses risks to workers’ retirement savings. A mix of labor unions and liberal advocacy groups, including the American Federation …
US labor, advocacy groups urge states to reject Tesla’s $29 billion Musk pay Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar gained on Thursday before a highly anticipated speech by Federal Reserve Chair Jerome Powell on Friday will be evaluated for any new clues on whether the U.S. central bank is likely to cut interest rates next month. Traders ramped up bets on a cut at the Fed’s …
Dollar gains before key Powell speech at Jackson Hole on Friday Read More »
By Riham Alkousaa and Christoph Steitz BERLIN/FRANKFURT (Reuters) -Berlin is considering extending its trusteeship over the German assets of Russian oil producer Rosneft for a sixth time, two people familiar with the matter said, as efforts to sell the business drag on. The repeated trusteeship renewals raise pressure on Berlin to come up with a …
Berlin weighs trusteeship extension for Rosneft’s German assets, sources say Read More »
By Siddharth Cavale, Juveria Tabassum and Sayantani Ghosh (Reuters) -Target needs a hard reset on strategy, Wall Street believes. And new CEO Michael Fiddelke may not be the person to do it. The retailer has missed the performance mark for many quarters, with sales flagging after a pandemic high, as it failed to deliver what …
Analysis-Target’s new CEO pick raises doubts about its much-needed brand reboot Read More »
By Andrea Shalal and David Lawder WASHINGTON/BRUSSELS (Reuters) -The European Union will work to ensure lower U.S. tariffs on its car exports are applied retroactively to August 1, the bloc’s trade chief said on Thursday, as the transatlantic partners set out details of a framework trade deal struck in July. In a 3-1/2-page joint statement, …
EU pushes for reduced US autos tariff from August 1 as joint text limits exemptions Read More »
By Jacob Gronholt-Pedersen and Maggie Fick COPENHAGEN (Reuters) -As Novo Nordisk’s sales of its blockbuster weight-loss drug Wegovy boomed, the Danish drugmaker raced to expand manufacturing capacity and sales outreach with a hiring spree that almost doubled staff numbers over five years. Now sales are slowing and layoffs loom. Annual reports show that Novo’s workforce grew …
Analysis-Riding high on Wegovy, Novo doubled its workforce. Now layoffs loom Read More »
By Savyata Mishra and Siddharth Cavale (Reuters) -Walmart’s results WMT.N on Thursday show U.S. consumers across the spectrum are still flocking to the retailer’s stores despite economic headwinds, but shares dipped as the company’s margins ebbed and inventory costs rose. The world’s largest retailer has scooped up market share from rivals as wealthier consumers frequent the …
Walmart results show consumer resilience; shares down after recent rally Read More »
WARSAW (Reuters) -Poland plans to increase the corporate income tax rate paid by banks to 30% in 2026, from the current 19%, to finance increased defence spending, Deputy Finance Minister Jaroslaw Neneman was quoted as saying by the state-controlled news agency PAP. The measure is intended to help finance Poland’s defence needs, he said, adding …
Poland plans to increase corporate income tax for banks Read More »
