(Reuters) – Activist hedge fund Macellum Advisors GP LLC said on Tuesday Kohl’s Corp should explore strategic alternatives, including a sale, if the department store chain’s board is “unwilling to pursue improvements.” Macellum also said there were well-capitalized strategic and financial buyers that could pay a meaningful premium to acquire Kohl’s. (Reporting by Praveen Paramasivam…
By Silke Koltrowitz ZURICH (Reuters) -Swiss chocolate maker Lindt & Spruengli expects sales of its upmarket chocolates to grow less in 2022 than last year, it said on Tuesday, and blamed supply chain bottlenecks for a slowdown in late 2021 in North America. The maker of the best-selling Lindor chocolate balls, which has maintained spending…
(Reuters) – Futures tracking the tech-heavy Nasdaq 100 index slumped almost 2% on Tuesday as traders returned from a long holiday weekend to position for a more hawkish Federal Reserve ahead of a policy meeting next week. Rate-sensitive technology stocks came under pressure in Europe and Asia as two-year Treasury yields, which track short-term rate…
BERLIN (Reuters) – Hugo Boss said on Tuesday that it had exceeded its full year sales targets after fourth quarter earnings helped propel the German fashion house back to nearly pre-pandemic levels. The company said revenue rose 43% in 2021 to 2.786 billion euros ($3.17 billion), on a preliminary basis after adjusting for currency effects….
By Farah Master HONG KONG (Reuters) – Macau’s Legislative Assembly published the draft of a highly anticipated gaming bill on Tuesday that gave details on the Chinese territory’s goal of tightening its grip on casino firms and reining in so-called junket operators. The proposed changes, which need legislators’ approval to become law, mark the biggest…
(Reuters) – Newly spun-off commercial vehicle maker Daimler Truck sold 455,000 units in 2021, the company reported on Tuesday, a fifth more than last year but still 13% below pre-pandemic levels. Supply chain bottlenecks slowed production particularly in the second half in the United States and Europe, the company said in a statement. Trucks Asia…
BERLIN (Reuters) – New car registrations in Europe fell 1.5% in 2021, even further below the previous record low of 2020 sales, industry data showed on Tuesday. A global semiconductor shortage and other supply chain issues have dampened deliveries of cars globally, with many carmakers sitting on half-finished goods and unable to meet demand. Germany…
LONDON (Reuters) -Britain’s payments regulator on Tuesday fined five payments companies including Mastercard a total of 33 million pounds ($45.01 million) for cartel behaviour involving prepaid cards issued to vulnerable people on welfare benefits. Mastercard received the largest fine of 31.56 million pounds ($43.04 million). The other companies fined were allpay, Advanced Payment Solution, Prepaid…
LONDON (Reuters) – British employers added 184,000 staff to their payrolls in December, monthly tax data showed on Tuesday, taking total staff numbers to 1.4% above their level in February 2020 before the COVID-19 pandemic. The broader unemployment rate for the three months to the end of November fell to 4.1%, the Office for National…
(Fixes quotation mark in headline) By Akriti Sharma and Ross Kerber (Reuters) -Larry Fink, chief executive of the world’s biggest asset manager BlackRock Inc, has defended a shareholder movement that pushes companies to focus on the interests of society as well as profits. In his annual open letter, Fink built on themes he has sounded…
