(Reuters) -Starbucks named Nordstrom’s Cathy Smith as its finance chief on Tuesday, hiring a retail industry veteran to aid CEO Brian Niccol’s efforts to revive sales at the coffee giant. She will replace Rachel Ruggeri, a 20-year company veteran who became the chief financial officer in 2021. Smith, 61, will join next month after leading …
Starbucks taps Nordstrom’s Cathy Smith as CFO amid turnaround Read More »
WASHINGTON (Reuters) – U.S. President Donald Trump claimed on Tuesday that U.S. banks are not allowed to do business in Canada, while their banks operate in the U.S. “Canada doesn’t allow American Banks to do business in Canada, but their banks flood the American Market. Oh, that seems fair to me, doesn’t it?,” Trump said …
Trump questions fairness of Canada’s dealings with American banks Read More »
(Reuters) -Ford Motor will recall 35,328 vehicles due to faulty LED lights in the exterior mirror that may cause a fire, the U.S. National Highway Traffic Safety Administration said on Tuesday. The exterior mirror is equipped with LED logo lights which may short circuit, the auto safety regulator said. The recall affects certain 2015-2017 Lincoln …
Ford to recall more than 35,000 vehicles over faulty LED lights, NHTSA says Read More »
WASHINGTON (Reuters) – About one-third of the staff in the U.S. Commerce Department office overseeing $39 billion of manufacturing subsidies for chipmakers was laid off this week, two sources familiar with the situation said. The Commerce Department did not respond to requests for comment. Reuters reported last month that the new Trump administration, which has …
US CHIPS Act office lays off about a third of its staff, sources say Read More »
(Reuters) – KKR & Co said on Tuesday it was looking to raise $1.5 billion through an offering of mandatory convertible preferred stocks and will use part of the proceeds to build up stakes in companies in its core private equity portfolio. Private equity firms are trying to bolster their reserves to tap an expected …
KKR aims to raise $1.5 billion in 3-year convertible stock offering Read More »
(Reuters) -Honeywell International said on Tuesday it would buy pump-maker Sundyne from private-equity firm Warburg Pincus for $2.16 billion in cash, as the U.S. conglomerate strengthens its energy business ahead of a planned three-way split. The industrial giant has focused on expanding its presence in the aviation, automation and energy sectors under CEO Vimal Kapur …
Honeywell to buy pump maker Sundyne for $2.16 billion Read More »
(Reuters) – Department-store operator Nordstrom beat Wall Street expectations for quarterly comparable sales on Tuesday and announced the departure of Chief Financial Officer Cathy Smith, who will join Starbucks as its new finance chief. Smith, 61, has been CFO at Nordstrom since 2023 and the company said it had initiated a search for her replacement. …
Nordstrom beats holiday-quarter sales estimates; CFO jumps ship to Starbucks Read More »
BANGKOK (Reuters) – A Thai court on Tuesday accepted a class action lawsuit against food giant Charoen Pokphand Foods for causing environmental damage from the rapid spread of an invasive fish species, a lawyer for the plaintiffs told Reuters. CP Foods is part of agro-industrial conglomerate Charoen Pokphand Group, which owns the country’s second-largest mobile …
Thai lawsuit targets Charoen Pokphand Foods over invasive fish impact Read More »
(Reuters) – AutoZone on Tuesday missed Wall Street estimates for second-quarter revenue, as the automotive parts retailer navigated headwinds due to consumers holding back and currency rate fluctuations. Shares of the company fell about 2.2% in premarket trading following the results. The retailer had previously warned that inflationary headwinds were weighing on its wallet-cautious buyers, …
AutoZone misses quarterly revenue estimates on inflation, currency rates Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -Shoprite Holdings will expand its on-demand grocery delivery service to its namesake discount stores, stepping up a turf war for South Africa’s low-income shoppers, it said on Tuesday after reporting a 9.9% rise in half-year earnings. Facing fierce competition from rivals Pick n Pay and Woolworths, the country’s biggest supermarket …
South Africa’s Shoprite expands grocery online delivery to lower-income customers Read More »
