The investment firm of billionaire Ryan Cohen has taken a large stake in Bed Bath & Beyond and is recommending that the struggling retailer sell all or part of its business. RC Ventures LLC has acquired a nearly 10% stake in Bed Bath & Beyond, according to a regulatory filing. RC stands for Ryan Cohen,…
By Elvira Pollina MILAN (Reuters) -Shares in Telecom Italia (TIM) recovered from record lows on Monday as the head of Italy’s biggest phone group met investors to convince them of the merits of his plans to revive the former phone monopoly. The TIM roadshow comes ahead of a decision expected shortly from TIM on a…
By Akriti Sharma and Rocky Swift (Reuters) – Uniqlo owner Fast Retailing will keep its stores in Russia open, joining a small group of international firms that are staying put even as dozens of big brands temporarily shutter operations or exit the country over its invasion of Ukraine. Political pressure is building on companies to…
(Reuters) – Uber Technologies Inc raised its first-quarter profitability guidance on Monday, saying its mobility business was improving faster than expected, while customers continued ordering food deliveries at record numbers in February. Uber said in a filing it now expected adjusted earnings before interest, taxes, depreciation and amortization of $130 million to $150 million in…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of Tesla Chief Executive Elon Musk and other auto executives to roll out more affordable electric vehicles. Rising prices of nickel, lithium and other materials threaten to slow and even temporarily reverse…
By Sruthi Shankar (Reuters) – European stocks hit a one-year low on Monday, with German and French shares set to confirm a bear market as the United States and Western allies weigh a ban on importing Russian oil, raising fears of a spike in inflation dragging economic growth. The pan-European STOXX 600 index tumbled 3.0%…
ZURICH (Reuters) – UBS’s direct exposure to Russia made up $634 million of the Swiss bank’s total emerging market exposure of $20.9 billion at the end of 2021, the bank said in its annual report. Switzerland’s biggest bank said while its direct exposure was limited and had been reduced since year-end 2021 this could be…
LONDON (Reuters) – Russia’s rouble tumbled to a fresh record low in thin offshore trade with local markets closed for trading until at least Wednesday. The rouble weakened to 130.9338 to the dollar after closing at 121.037 on Friday, according to Refinitiv data. On the EBS trading platform, the rouble softened to as low as…
TOKYO (Reuters) – Japan, which counts Russia as its fifth-biggest supplier of crude oil, is in discussion with the United States and European countries about possibly banning Russian oil imports, Kyodo News reported on Monday. The report comes after U.S. Secretary of State Antony Blinken said on Sunday the United States and European allies were…
BEIJING (AP) — China’s exports rose by double digits in January and February before Russia’s attack on Ukraine roiled the global economy. Exports grew by 16.3% over a year earlier to $544.7 billion in a sign global demand was recovering before President Vladimir Putin’s Feb. 24 invasion, customs data showed Monday. Imports advanced 15.5% to…
