LONDON (Reuters) -Standard Chartered’s pay plans for top executives were approved by shareholders on Wednesday, but a sizeable minority of investors voted against the plans, after concerns were raised ahead of the bank’s annual investor meeting. The emerging markets-focused bank had been braced for a potential rebellion after influential shareholder proxy advisers ISS and Glass…
(Reuters) – Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow’s invasion of Ukraine on Feb. 24 have started to report associated losses. These are firms, listed by sector, that have provided cost estimates related to a temporary or permanent halt in Russia: APPAREL ADIDAS The German sportswear company warned…
MEXICO CITY (Reuters) – Japanese automaker Nissan Motor Co said on Wednesday it will invest more than $700 million in Mexico during the next three years to boost its operations in the country. The investment is set to improve the facilities, equipment and automation procedures in Nissan’s facility located in the state of Aguascalientes, the…
Tupperware’s turnaround isn’t exactly going as planned, with inflation, COVID-19 and Russia’s invasion of Ukraine all weighing on the consumer products company. Sales dropped 16% in the first quarter, with Miguel Fernandez, President and CEO of Tupperware Brands, acknowledging that the company’s turnaround still needs a lot more work. “Sales were negatively impacted by the…
NEW YORK (Reuters) – Soaring inflation pushing the price up for everyday items like gas and groceries in the United States is leading consumers with low credit scores to borrow more and default on their loans more often, a study by credit agency TransUnion found on Wednesday. Credit card balances and delinquency rates among non-prime…
COVID-19 vaccine sales helped Moderna triple its net income in a better-than-expected first quarter. The vaccine maker said Wednesday that revenue from its coronavirus preventive shots jumped to $5.92 billion from $1.73 billion in last year’s quarter, when the vaccines were debuting in most markets. More than 217 million doses of Moderna’s Spikevax vaccine have…
By Jonathan Stempel NEW YORK (Reuters) -Intuit Inc agreed to pay $141 million in restitution to settle claims by all 50 U.S. states and Washington, D.C., that it tricked millions of customers into buying online TurboTax products that the company deceptively advertised as “free.” Wednesday’s settlement resolves claims that Intuit steered at least 4.4 million…
By Herbert Lash and Huw Jones NEW YORK/LONDON (Reuters) -U.S. and European equities mostly wavered on Wednesday while Treasury yields moved higher ahead of a widely expected Federal Reserve decision to hike interest rates and reduce liquidity to tame inflation rising at the fastest pace in 40 years. The Fed is expected to announce at…
(Reuters) -The Russian rouble jumped on Wednesday to around a two-year high against both the dollar and the euro, retaining the support of hefty capital controls as the European Union proposed a new package of sanctions against Russia over events in Ukraine. European Commission President Ursula von der Leyen proposed a phased oil embargo on…
COPENHAGEN, Denmark (AP) — The world’s biggest shipping company, Denmark’s A.P. Moeller-Maersk, said Wednesday that it had delivered its “best earnings quarter ever,” driven by higher freight rates and more contracts being signed. The Copenhagen, Denmark-based company said its revenue for the first three months of the year came in at $19.3 billion, up from…
