Reuters US Business

BERLIN (Reuters) – Acquiring a majority stake in T-Mobile U.S. is a priority for Deutsche Telekom’s chief executive Timotheus Hoettgas, he said on Thursday after the telecoms operator published its second-quarter results. “This is our most important strategic project at present,” Hoettgas said. Deutsche Telekom currently holds a 48.4% stake in the company. This should …

Deutsche Telekom CEO eyes majority stake in T-Mobile US Read More »

MILAN (Reuters) -Italian fashion house Salvatore Ferragamo said on Thursday it had struck a partnership with online luxury shopping retailer Farfetch to expand its digital presence, targeting younger shoppers. Ferragamo said it would use Farfetch’s platform for its e-commerce and look to engage with a global Millennial and Gen Z luxury audience. “Ferragamo has a …

Ferragamo partners with Farfetch to grow online, reach younger shoppers Read More »

(Reuters) -Bumble Inc cut its full-year revenue forecast on Wednesday, taking a hit from the war in Ukraine while also grappling with stiff competition from rivals such as Match Group Inc in the online dating market. Shares of Austin, Texas-based Bumble fell nearly 13% in trading after the bell, after its current-quarter forecast also remained …

Bumble cuts annual revenue forecast as Ukraine war, competition bite Read More »

By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Walt Disney Co lowered its long-term subscriber forecast for Disney+ customers on Wednesday, blaming the loss of cricket rights in India, but stuck with its target date for turning a profit from the company’s big push into streaming television. To protect streaming margins, the media giant …

Disney lowers streaming subscriber forecast, sticks to profit target Read More »

By Herbert Lash and Bansari Mayur Kamdar NEW YORK (Reuters) – The Nasdaq and S&P 500 surged more than 2% on Wednesday after data showed U.S. inflation slowed more than expected in July and raised hopes the Federal Reserve will become less aggressive on interest rates hikes. A sharp drop in the cost of gasoline …

Wall Street rallies as cooling inflation eases rate hike fears Read More »

By Fergal Smith (Reuters) – Canada’s main stock index rose on Wednesday to its highest level in two months, with technology stocks leading gains after data showed U.S. inflation rising less than expected last month. The Toronto Stock Exchange’s S&P/TSX composite index ended up 307.64 points, or 1.6%, at 19,885.94, its highest closing level since …

TSX jumps to two-month high on U.S. inflation relief Read More »

(Reuters) – CAE Inc shares listed in Toronto and in the United States tumbled more than 16% on Wednesday after the world’s largest civil aviation training company’s quarterly profit missed market expectations due to charges in its defense business. Labor shortage and supply-chain pressures also forced Montreal-based CAE to cut its annual outlook for adjusted …

CAE shares slide as labor, supply woes hit profit Read More »

KYIV (Reuters) – Ukraine’s grain, oilseed, vegetable oil exports rose 22.7% in July versus June to 2.66 million tonnes thanks to higher wheat and barley shipments, the agriculture ministry said on Wednesday. Ukraine’s grain exports have slumped since the start of the war because its Black Sea ports – a key route for shipments – …

Ukraine sees big increase in agriculture exports in July Read More »

(Reuters) – Market volatility triggered by Russia’s invasion of Ukraine and soaring global interest rates has forced investors to pull back from backing initial public offerings, resulting in a dramatic decline in stock market listings in the United States. According to data from Refinitiv, 2022 is on track to be the worst year for U.S. …

Factbox-U.S. IPO activity plunges as Ukraine war triggers volatility Read More »