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(Reuters) – Videogame retailer GameStop reported a fall in second-quarter revenue on Tuesday, as consumers moved away from traditional brick-and-mortar stores to online purchasing. The company has been struggling with declining sales in its primary business of selling new and used video game discs due to a shift towards digital downloads and game streaming. Several …

GameStop reports decline in revenue as online purchases hit videogame retailer Read More »

By Jody Godoy ALEXANDRIA, Virginia (Reuters) – News Corp in 2017 estimated losing at least $9 billion in ad revenue that year if it had switched away from Google’s massive advertising apparatus, keeping the media conglomerate captive to the Big Tech company, a former News Corp executive testified on Tuesday. “I felt like they were …

News Corp would have lost $9 million in 2017 by ditching Google ads, ex-exec testifies Read More »

By Ross Kerber and Svea Herbst-Bayliss NEW YORK (Reuters) -Exxon CEO Darren Woods on Tuesday had warning words for activist shareholders thinking to emulate those who filed a climate-related shareholder proposal at the largest U.S. oil company. Exxon sued the investors early this year and Woods indicated the company was ready to repeat the exercise …

Exxon CEO Woods’ message to future shareholder activists: follow the rules Read More »

By Sinéad Carew and Shubham Batra (Reuters) – Wall Street’s benchmark S&P 500 index closed up 0.5% on Tuesday but concerns about slowing economic growth stunted gains and the Dow dipped as bank stocks sank after warnings of current-quarter weakness while energy shares tumbled. Energy was the biggest percentage decliner among the benchmark’s 11 industry …

S&P 500 ends slightly higher but banks and energy weigh Read More »

(Reuters) – DirecTV has rejected Walt Disney Co’s offer to restore the ABC network to subscribers to watch Tuesday’s U.S. presidential debate, which ABC News is hosting. A spokesman for DirecTV told Reuters restoring the ABC network for three hours would be confusing to subscribers, who are able to watch the debate via other networks. …

DirecTV rejects Disney offer to restore ABC for presidential debate Read More »

By Corina Pons MADRID (Reuters) – Expectations of bumper second quarter sales growth at Zara owner Inditex have been dashed by a wet and cold June in its biggest market of Spain, analysts and investors said ahead of earnings due on Wednesday. Other clothing retailers have also struggled, with rival H&M predicting a 6% fall …

Inditex sales growth forecasts dampened by rain in Spain Read More »

(Reuters) – A slight recovery in the German chemicals sector lost momentum in the second quarter, a report by the VCI industry body said on Tuesday, as both domestic and foreign orders slowed in the April-June period, especially in the pharmaceutical branch. “The global economy has not picked up speed as hoped,” VCI’s Managing Director …

German chemicals sector recovery loses momentum in Q2, says industry group Read More »

(Reuters) – Sportswear maker Under Armour said on Monday it sees a bigger net loss in fiscal year 2025, due to higher-than-expected charges related to its restructuring plans. The company expects a loss between 58 cents and 61 cents per share in fiscal year, compared with its prior forecast of 53 cents to 56 cents …

Under Armour sees bigger fiscal 2025 loss on restructuring charges Read More »

(Corrects paragraph 4 to say Shaw was appointed CEO in May 2022, not joined Norfolk Southern in May 2022) (Reuters) -Norfolk Southern’s CEO Alan Shaw is expected to step down from his role amid an investigation into allegations of potential misconduct, the Wall Street Journal reported on Monday citing people familiar with the matter. CNBC …

Norfolk Southern CEO to step down amid misconduct probe, WSJ reports Read More »