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May 23, 2022

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UK’s Kingfisher boosted by ‘grow your own’ plant sales

Reuters
General view of a B&Q DIY store, as the spread of the coronavirus disease (COVID-19) continues, in Chiswick, London, Britain, April 23, 2020. REUTERS/John Sibley Register now for FREE unlimited access to Reuters.com Register LONDON, May 23 (Reuters) – British home improvement retailer Kingfisher (KGF.L) reported first quarter sales significantly......

Philippine tech retailer Upson files for up to $103 mln IPO

Reuters
MANILA, May 23 (Reuters) – Upson International Corp (UIC), the largest retailer of personal computers and information technology products in the Philippines, said on Monday it has filed for an IPO of up to 5.4 billion pesos ($103.81 million). UIC plans to offer up to 986.8 million shares, including an......

Factbox: The Great Rebrand: Western business reborn in Russia under new names

Reuters
May 20 (Reuters) – McDonald’s Corp (MCD.N) is selling its restaurants in Russia to one of its current local licensees, who will reopen the branches under a new name yet to be decided – the most high-profile rebranding so far of companies extricating themselves from Russia. read more Scores of......

Wall Street ends mixed, Tesla falls

Reuters
A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 19, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Ross Stores plunges after cutting 2022 forecast May 20 (Reuters) – Wall Street ended mixed on......

Computer chip giant ASML places big bets on a tiny future

Reuters
VELDHOVEN, Netherlands, May 20 (Reuters) – ASML (ASML.AS), a semiconductor industry and stock market giant, has to think smaller. Or maybe bigger. It is building machines the size of double-decker buses, weighing over 200 tonnes, in its quest to produce beams of focused light that create the microscopic circuitry on......

Australia’s Woolworths offers to buy majority stake in MyDeal.com

Reuters
People walk past a Woolworths supermarket following the easing of restrictions implemented to curb the spread of the coronavirus disease (COVID-19) in Sydney, Australia, June 16, 2020. REUTERS/Loren Elliott/File Photo Register now for FREE unlimited access to Reuters.com Register May 20 (Reuters) – Australia’s Woolworths Group (WOW.AX) on Friday offered......

McDonald’s to sell Russia restaurants to local operator, rebrand

Reuters
A sign with the logo is on display outside a McDonald’s restaurant in Omsk, Russia May 18, 2022. Picture taken with a drone. REUTERS/Alexey Malgavko Register now for FREE unlimited access to Reuters.com Register May 19 (Reuters) – McDonald’s Corp (MCD.N) is selling its restaurants in Russia to one of......

Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury

Reuters
May 18 (Reuters) – An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc (TSLA.O) from the widely followed S&P 500 ESG Index (.SPXESUP)because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk......

Investors jolted as U.S. retailers show inflation hitting consumers

Reuters
NEW YORK, May 19 (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 (TGT.N) shares......

Kohl’s loses two senior executives as it looks for a buyer

Reuters
The sign outside a Kohl’s store is seen in Broomfield, Colorado February 27, 2014. REUTERS/Rick Wilking Register now for FREE unlimited access to Reuters.com Register May 18 (Reuters) – Kohl’s Corp (KSS.N) said on Wednesday two of its senior executives are stepping down from their roles, as the U.S. department......

T.J. Maxx parent sees upbeat profit as price hikes counter higher costs

Reuters
A T.J. Maxx store which is owned by TJX Cos Inc in Pasadena, California U.S., May 15, 2017. REUTERS/Mario Anzuoni Register now for FREE unlimited access to Reuters.com Register May 18 (Reuters) – Discount store operator TJX Cos Inc on Wednesday forecast annual profit above Wall Street estimates after posting......

U.S. to allow baby formula imports amid nationwide shortage

Reuters
Empty shelves show a shortage of baby formula at CVS in San Antonio, Texas, U.S. May 10, 2022. REUTERS/Kaylee Greenlee Beal/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 16 (Reuters) – The United States will allow baby formula imports from foreign makers that do not......

U.S. Treasury’s Yellen presses Poland on global minimum tax

Reuters
Treasury Secretary Janet Yellen testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled β€œThe Financial Stability Oversight Council Annual Report to Congress,” in Dirksen Senate Office Building in Washington, D.C.,U.S., May 10, 2022. Tom Williams/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register WARSAW,......

‘Copycat’ mass shootings becoming deadlier, experts warn after New York attack

Reuters
Police officers secure the scene after a shooting at TOPS supermarket in Buffalo, New York, U.S. May 14, 2022. REUTERS/Jeffrey T. Barnes Register now for FREE unlimited access to Reuters.com Register May 15 (Reuters) – An 18-year-old white man suspected of fatally shooting 10 people in a Black neighborhood in......

Exclusive: Maker of Walmart, Amazon store-brand baby formulas sees shortages through rest of 2022

Reuters
NEW YORK, May 13 (Reuters) – Perrigo Company PLC (PRGO.N), which makes store-brand baby formulas for retailers, including Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O), expects shortages and heightened demand to last for the “balance of the year,” Chief Executive Murray Kessler told Reuters in an interview. The Biden administration......

Wall Street falls on rate hike worries

Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 11, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register Tapestry jumps after upbeat Q3 results Indexes down: Dow 0.72%, S&P 0.53%, Nasdaq 0.12% May 12 (Reuters) – Wall......

AutoStore shares fall 12% on worries over growth

Reuters
“Bots” are seen on the grid of the “smart platform” at the Ocado CFC (Customer Fulfilment Centre) in Andover, Britain May 1, 2018. Picture taken May 1, 2018. REUTERS/Peter Nicholls//File Photo Register now for FREE unlimited access to Reuters.com Register Company builds automated warehouses for e-commerce firms Q1 orders grew......

EXCLUSIVE Facebook-owner Meta tells hardware staffers to prepare for cutbacks

Reuters
Small figurines are seen in front of displayed Meta logo in this illustration taken February 11, 2022. REUTERS/Dado Ruvic/Ilustration Register now for FREE unlimited access to Reuters.com Register May 11 (Reuters) – Facebook-owner Meta Platforms Inc (FB.O) is preparing cutbacks in its Reality Labs division, a unit at the center......

EV maker Rivian stands by production target despite supply-chain snarls

Reuters
Rivian CEO R.J. Scaringe introduces his company’s R1T all-electric pickup truck at Los Angeles Auto Show in Los Angeles, California, U.S. November 27, 2018. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register May 11 (Reuters) – Rivian Automotive Inc (RIVN.O) on Wednesday reaffirmed its annual production forecast......

U.S. importers turn to prayer and the President as West Coast port labor talks begin

Reuters
Crude tankers are shown at the port of Long Beach, California, U.S., March 8, 2022. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register LOS ANGELES, May 10 (Reuters) – For more than two years, Isaac Larian has used every available tool to overcome global supply-chain bottlenecks and......

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