By Qiaoyi Li and Alessandro Diviggiano BEIJING (Reuters) -Xiaomi rolled out its new sports utility vehicle in Beijing on Thursday, as the firm best known for smartphones and consumer electronics gears up to further challenge Tesla in the world’s largest auto market. Xiaomi launched the YU7 at 13 of its Beijing showrooms and will start …
Xiaomi’s Tesla Y rival YU7 hits showrooms in Beijing Read More »
(Reuters) -Virtual chronic care provider Omada Health is targeting a valuation of about $1.1 billion in its initial public offering in the United States, signaling a comeback for capital markets after several months of slowdown in listings. The company said on Thursday it would sell 7.9 million shares in a range of $18 to $20 …
Omada Health targets valuation of over $1 billion in US IPO Read More »
WASHINGTON (Reuters) -U.S. corporate profits fell sharply in the first quarter and could continue to be squeezed this year by higher costs from tariffs that are threatening to undercut the economic expansion. Profits from current production with inventory valuation and capital consumption adjustments dropped $118.1 billion last quarter, the Commerce Department’s Bureau of Economic Analysis …
US corporate profits decrease sharply in first quarter Read More »
By Nupur Anand and Saeed Azhar NEW YORK (Reuters) -Tariff uncertainty and market volatility have sent some companies looking for a flexible, more certain route to funding from private credit firms, resulting in the spurning of traditional lenders in some cases. A number of companies have selected loans from private credit providers over traditional forms …
Analysis-Companies turn to private credit during tariff turmoil for loans Read More »
(This May 9 story has been refiled to fix the transposed words ‘in’ and ‘Google’ in the headline) By Jody Godoy (Reuters) – The U.S. Federal Trade Commission, the de-facto federal privacy regulator, said on Friday that the U.S. Department of Justice’s proposal to make Alphabet’s Google share search data with competitors includes adequate safeguards …
FTC backs DOJ proposal in Google search antitrust case Read More »
By Juveria Tabassum (Reuters) -Kohl’s retained its annual targets and reported better-than-expected quarterly results as the U.S. department store chain bets on its turnaround against the backdrop of tariff-induced uncertainty, pushing its shares up 15% on Thursday. The company, which fired its CEO earlier this month for a personal relationship with a vendor, reported a …
Kohl’s sticks to annual targets amid tariffs, turbulence at top Read More »
WASHINGTON (Reuters) -Contracts to buy U.S. previously owned homes fell more than expected in April as rising mortgage rates and economic uncertainty weighed on demand. The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, dropped 6.3% to 71.3 last month. Economists polled by Reuters had forecast …
By Savyata Mishra (Reuters) – Best Buy slashed its full-year comparable sales and profit forecasts on Thursday amid concerns that U.S. tariffs would weigh on consumer demand for big-ticket items such as appliances, gaming consoles and home theaters. American households are in limbo as they battle higher borrowing costs, with tariffs now fueling concerns of …
Electronics retailer Best Buy cuts annual forecasts on tariff uncertainty Read More »
(Reuters) -Bath & Body Works on Thursday beat first-quarter profit estimates as steady demand for its fragrances and personal care products, combined with its limited exposure to import tariffs, helped counter broader pressures in the U.S. retail sector. The beauty and skincare retailer has invested in extensive promotions and deals as well as in product …
Bath & Body Works beats quarterly profit estimates on minimal tariff exposure Read More »
-Hormel Foods tightened its annual profit forecast towards the lower end on Thursday, as the Skippy peanut butter maker struggles with supply chain issues and weak demand that may counter the benefits of its price hikes. Like peer Tyson Foods, Hormel took consecutive price hikes in the past to protect its margins from persistently high …
Hormel Foods tightens annual profit forecast amid weak retail demand Read More »
