Reuters - Squid Business

China’s Fosun faces lawsuit over stake sale in Nanjing Nangang to Jiangsu Shagang

(Reuters) – Fosun International said on Friday steel manufacturer Jiangsu Shagang Group has filed a lawsuit against the company alleging the failure of one of Fosun’s unit to perform an obligation under a recent deal. Last month, Fosun said it would sell its 60% stake in Nanjing Nangang Iron & Steel United Co Ltd to …

China’s Fosun faces lawsuit over stake sale in Nanjing Nangang to Jiangsu Shagang Read More »

Tide maker P&G dialing up discounts as US consumers pull back

By Jessica DiNapoli NEW YORK (Reuters) – Doing laundry is a drag. But after two years of price hikes on detergent, U.S. consumers may finally get some relief as Procter & Gamble Co deepens discounts on Tide, one of its biggest brands, according to a Reuters analysis of NielsenIQ data. Makers of consumer products like …

Tide maker P&G dialing up discounts as US consumers pull back Read More »

French police working with EU on luxury antitrust probe

PARIS (Reuters) -French police are involved in an ongoing investigation relating to a probe by EU antitrust regulators into possible violations by European luxury companies, a police spokesperson said on Friday. The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in multiple EU countries, but did not name …

French police working with EU on luxury antitrust probe Read More »

Walmart offloads second e-fashion brand in days with focus on margins

(Reuters) – Walmart Inc is selling plus-size fashion brand Eloquii Inc just over a week after it agreed to offload menswear label Bonobos, underscoring an effort to improve margins by narrowing focus and building on alternative revenue streams. The buyer, FullBeauty Brands, did not disclose the size of the deal in its statement on Friday. …

Walmart offloads second e-fashion brand in days with focus on margins Read More »

U.S., Euro zone business activity accelerates to 11-month highs in April

By Lucia Mutikani and Jonathan Cable WASHINGTON/LONDON (Reuters) – U.S. and Euro zone business activity gathered pace in April, according to surveys released on Friday, despite central bankers signaling they are nearing the peak of their interest rate hiking cycles designed to cool demand enough among consumers to bring high inflation down. S&P Global said …

U.S., Euro zone business activity accelerates to 11-month highs in April Read More »

Aurubis raises 2023 profit forecast

(Reuters) -Aurubis on Friday raised its operating core profit guidance for 2023, as it reported better-than-expected preliminary earnings in the first half of the year. It cited increased treatment and refining charges for concentrates, a significantly higher copper premium and strong demand for wire rod at higher prices as reasons. The company now anticipates operating …

Aurubis raises 2023 profit forecast Read More »

Nasdaq appoints Cohen and Griggs as co-presidents, formalizing new structure

(Reuters) – Nasdaq Inc on Friday said its board appointed Tal Cohen and Nelson Griggs as co-presidents, formalizing the corporate structure the transatlantic exchange operator recently put in place to boost its efforts in major growth areas, like anti-financial crime software. With the appointments, Nasdaq Chief Executive Officer Adena Friedman, who was also appointed chair …

Nasdaq appoints Cohen and Griggs as co-presidents, formalizing new structure Read More »

Oilfield services giant SLB beats first-quarter profit estimates

By Arunima Kumar and Liz Hampton (Reuters) -Top oilfield firm provider SLB beat Wall Street estimates for first-quarter profit on Friday, as elevated crude prices and tight supplies increased demand for its services and equipment. Global oil prices averaged $81.24 a barrel in the January-March quarter, down nearly 20% from a year earlier but still …

Oilfield services giant SLB beats first-quarter profit estimates Read More »

Swedish central bank seen hiking by half percentage point to 3.5% next week- Reuters Poll

STOCKHOLM (Reuters) – Sweden’s central bank will hike its policy rate by a half a percentage point next week as it grapples with soaring inflation, with a further quarter point to come in June, a poll by Reuters showed on Friday. Central banks around the globe have jacked up interest rates to tame levels of …

Swedish central bank seen hiking by half percentage point to 3.5% next week- Reuters Poll Read More »

Google asks judge to toss antitrust charges in app store case

WASHINGTON (Reuters) – Alphabet Inc’s Google asked a court late Thursday to toss out several allegations made by Epic, Match and U.S. state attorneys general about how the search and advertising giant runs its app store for Android phones. Google’s motion is the company’s latest bid to end costly and time-consuming antitrust lawsuits. It has …

Google asks judge to toss antitrust charges in app store case Read More »