BERLIN (Reuters) – Adidas’ Chief Executive Kasper Rorsted said nothing had changed on the German sportswear company’s 2025 goals, after first-quarter results were dogged by lockdowns in Greater China. Rorsted said that a double-digit sales drop in that market is possible in 2022, as a sudden recovery in China is unlikely, but he predicted strong…
By Alex Lawler, Julia Payne and Ron Bousso LONDON/LAGOS (Reuters) – Almost half the shortfall in planned oil supply by OPEC and its allies is down to Nigeria and Angola, data seen by Reuters shows, reflecting a number of factors including moves by Western oil majors away from African projects. OPEC and its allies, known…
FRANKFURT (Reuters) – The European Central Bank should raise its deposit rate back into positive territory this year, French central bank chief Francois Villeroy de Galhau said on Friday, comments that point to his support for at least three rate hikes in 2022. The ECB has been moving slowly to remove support this year but…
LONDON (Reuters) -Martin Sorrell said his S4 Capital would strengthen its financial controls as he published delayed full-year results that showed 2021 gross profit growth up 44% for the digital advertising group. Sorrell’s 4-year-old company hit its first major hurdle in late March when it was forced to delay its results because the auditor was…
(Reuters) – Holiday Inn owner IHG on Friday signalled a sharp rebound in the hospitality sector as people gradually resume travel after countries eased pandemic-related restrictions, with the United States, its largest market, leading the recovery. IHG’s RevPAR, or revenue per available room, was up 61% over last year, reaching 82% of pre-pandemic levels in…
(Reuters) – Intercontinental Hotels Group on Friday signalled a sharp recovery in the hospitality sector as people gradually resume leisure and business travel after countries eased pandemic-related restrictions. Holiday Inn owner’s RevPAR, or revenue per available room, was up 61% for the three months ended March 31, as the group saw improved trading in its…
NEW YORK (AP) — A turbulent week on Wall Street ended Friday with more losses and the stock market’s fifth straight weekly decline. The latest pullback came as investors balanced a strong U.S. jobs report against worries the Federal Reserve may cause a recession in its drive to halt inflation. The S&P 500 ended with…
KUALA LUMPUR (Reuters) – Malaysia, the world’s second largest palm oil producer, on Friday said it plans to leverage the global edible oil shortage and “political tension in Europe” to regain market share after buyers shunned the commodity over environmental concerns. Palm oil is used to make everything from lipstick to noodles, but top producers…
By Sinead Cruise and John O’Donnell LONDON/BERLIN (Reuters) – Global banks are taking steps to weather the wider impact of war and runaway inflation as the stream of central bank money that kept them afloat for more than a decade is switched off. But if policymakers are hoping banks will help avert recession by turning…
By Alun John HONG KONG (Reuters) – Asian shares tumbled to their lowest in seven weeks on Friday but the dollar stood tall as investors globally shunned riskier assets over fears that higher U.S. interest rates and China’s reinforcement of its zero-COVID policy could hit growth hard. MSCI’s broadest index of Asia-Pacific shares outside Japan…
