By Jonathan Stempel NEW YORK (Reuters) -H&M will pay $36 million to settle accusations that the fashion retailer illegally kept millions of dollars in gift cards that customers never used, New York Attorney General Letitia James said on Thursday. The Swedish company, whose full name is H&M Hennes & Mauritz AB, will pay $28.26 million …
H&M reaches $36 million settlement with New York over unused gift cards Read More »
By Josh Ye and Phuong Nguyen HONG KONG/HANOI (Reuters) – TikTok has been conducting tests so users can play games on its video-sharing app in Vietnam, part of plans for a major push into gaming, four people familiar with the matter said. Featuring games on its platform would boost advertising revenue as well as the …
Exclusive-TikTok plans big push into gaming, conducting tests in Vietnam -sources Read More »
(Reuters) – Production of Russia’s Soviet-era car brand the Moskvich could resume using a Chinese platform in partnership with truckmaker Kamaz, two sources told Reuters on Thursday, with the model to be built at Renault’s former Moscow factory. The sources told Reuters that Kamaz was in talks with its partner, Chinese carmaker JAC, about using …
Russia to revive Moskvich brand using Chinese platform – sources Read More »
By Sinéad Carew NEW YORK (Reuters) -The evidence of red-hot inflation seeping into the economy is sending a chill through investors after major U.S. retailers showed people are cutting back on buying bigger ticket items as they just try and get by. Investors wiped almost 25% off Target shares on Wednesday after its profit halved …
Investors jolted as U.S. retailers show inflation hitting consumers Read More »
By Sonali Paul BRISBANE (Reuters) -Woodside Petroleum’s shareholders on Thursday voted for a merger with BHP Group’s petroleum arm to create a top 10 global independent oil and gas producer worth $40 billion, according to a vote count at the company’s annual meeting. Of the total final votes, 98.66% were in favour of the deal. …
Woodside shareholders approve BHP petroleum merger Read More »
By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – The prospect of a Russia sovereign default is moving centre stage again with a deadline for a U.S. license allowing Moscow to make payments expiring on May 25 and $100 million in interest payments due shortly after. Sweeping sanctions imposed by western capitals on Russia …
Explainer-Washington holds key to Russia’s sovereign default Read More »
(Reuters) – The Russian rouble firmed past 63 against the dollar on Thursday, propped up by capital controls as well as looming tax payments that usually require extra conversion of foreign currency to roubles to meet local liabilities. The rouble has become the best-performing currency http://fingfx.thomsonreuters.com/gfx/rngs/GLOBAL-CURRENCIES-PERFORMANCE/0100301V041/index.html this year despite a full-scale economic crisis, artificially supported …
Russian rouble returns to gains as tax payments loom Read More »
By Bernadette Christina and Fransiska Nangoy JAKARTA (Reuters) – Indonesian lawmakers on Thursday requested that the government review an export ban on palm oil, as industry groups warned that one of the country’s leading economic contributors could grind to a halt in coming weeks as storage nears full capacity. Indonesia, the world top palm oil …
Indonesia MPs seek palm oil export ban review as industry warns on storage Read More »
(Reuters) – Half of Russian gas giant Gazprom’s 54 clients have opened accounts at Gazprombank, Deputy Prime Minister Alexander Novak said on Thursday, as Moscow seeks to compel its clients to pay for its gas in roubles. Russia halted gas supplies to Bulgaria and Poland in April after they refused to meet its demand that …
Half of Gazprom’s 54 clients opened Gazprombank accounts, says Russia’s Novak Read More »
By Saikat Chatterjee LONDON (Reuters) – Two major banks expect more pain for the U.S. stock markets after benchmark indexes posted on Wednesday their worst one-day losses in two years. In a report published on Thursday, Barclays strategists said margins for U.S. companies and their forward earnings were under pressure due to a combination of …
Two major banks expect more pain for U.S. equities Read More »
