MADRID (Reuters) – Shares in Zara owner Inditex fell as much as 4.7% on Friday after the world’s biggest fast fashion retailer agreed an inflation-busting 20% increase in average wages for shop workers in its home market of Spain. Spain’s two largest unions, CCOO and UGT, announced the pay increase late Thursday, with UGT saying …
Zara owner Inditex’s 20% pay hike in Spain triggers drop in shares Read More »
By Siddharth Cavale and Jessica DiNapoli NEW YORK (Reuters) – Walmart Inc is warning major packaged goods makers that it can no longer stomach their price hikes, pitching its own private-label products to shoppers as less-expensive alternatives to suppliers’ name-brand goods. For the world’s biggest retailer, which reports earnings Feb. 21, any increase in prices …
Walmart pushes back as major product suppliers ask for higher prices Read More »
By Nell Mackenzie LONDON (Reuters) – Billionaire investor William Ackman’s Pershing Square fund reaped $2.7 billion on interest rate trades in 2022, but not enough to plug losses and the fund finished the year down almost 9%, according to an investor presentation seen by Reuters. U.S. stock indexes had a dismal 2022 with the S&P …
Ackman’s Pershing Square reaps $2.7 billion from rate trade but down 9% in 2022 -letter Read More »
By Aluisio Alves and Andre Romani SAO PAULO (Reuters) – Shares in Brazil’s Banco Bradesco SA fell to their lowest level in almost two years on Friday after the bank reported fourth-quarter net income equivalent to less than half that of analysts’ estimates. Bradesco reported a 75% drop in net income and sharply increased its …
Bradesco shares hit 2-year low after disappointing quarterly earnings Read More »
(Reuters) – Ralph Lauren Corp beat Wall Street expectations for quarterly revenue on Thursday, as demand for its high-end clothing and accessories held up amid expectations of some affluent customers reining in spending on luxury goods. Net revenue rose 1% to $1.83 billion in the third quarter ended Dec. 31, while analysts had expected $1.76 …
(Reuters) – Investors continued to withdraw from U.S. equity funds for a 12th straight week in the seven days to Feb. 8 as a report showing robust U.S. job additions in the last month fed fears that the U.S. Federal Reserve would keep raising interest rates this year. Refinitiv Lipper data showed investors exited a …
U.S. equity funds see outflows for 12th week in a row Read More »
By Brendan Pierson (Reuters) – Medication abortion has been in the spotlight since the U.S. Supreme Court last June reversed its landmark 1973 ruling in Roe v. Wade, which had guaranteed abortion rights nationwide. A lawsuit has been filed to get the drug used in the procedure pulled from the market, while two others seek …
How recent lawsuits could affect access to abortion pills Read More »
By Timothy Aeppel (Reuters) – North American companies struggling to hire workers in the tightest labor market in decades brought on more robots last year than ever before, with many earmarked for new electric vehicle and battery factories under construction. Demand for robots appears to have slackened near the end of the year, though, raising …
North American companies notch another record year for robot orders Read More »
WASHINGTON (Reuters) -The U.S. government will begin imposing penalties in 2025 on drug companies that charge its Medicare program prices that rise faster than inflation, the Centers for Medicare & Medicaid Services said on Thursday. The agency issued initial guidance on how it will implement a provision in President Joe Biden’s signature Inflation Reduction Act …
U.S. government to start imposing inflation penalties on drugmakers in 2025 Read More »
By David Shepardson (Reuters) -A U.S. judge in Texas late on Thursday denied a legal bid by families of the victims of two Boeing 737 MAX crashes to reopen or reject a January 2021 deferred prosecution agreement. Boeing won immunity from criminal prosecution as part of the $2.5 billion Justice Department agreement over a 737 …
U.S. judge rejects family members’ bid to reopen Boeing 737 MAX plea deal Read More »
