NEW YORK (AP) — Target is canceling orders from suppliers, particularly for home goods and clothing, and it’s slashing prices further to clear out amassed inventory ahead of the critical fall and holiday shopping seasons. The actions, announced Tuesday, come after a pronounced spending shift by Americans, from investments in their homes to money spent…
Shares of Kohl’s spiked more than 11% Tuesday after the retailer said that it is in advanced talks to be sold in a deal worth about $8 billion. The Wisconsin chain said late Monday that it was in a three-week exclusive takeover period with the owner of Vitamin Shoppe for $60 per share. The potential…
(Corrects to say in the fourth last paragraph uncertainty related to China’s economic situation will continue in the short term) By Scott Murdoch and Selena Li HONG KONG (Reuters) -Citigroup Inc plans to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region…
KYIV, Ukraine (AP) — Russia claimed Tuesday it has occupied large swaths of eastern Ukraine after a relentless, weekslong barrage and the recent deployment of more troops. Russian Defense Minister Sergei Shoigu said Moscow’s forces have control of 97% of the Luhansk region. Russia has declared that taking full control of the entire Donbas, which…
By Selena Li HONG KONG (Reuters) – Credit Suisse has appointed Min Huang to lead its asset management business in the Asia Pacific, an internal memo reviewed by Reuters showed on Tuesday. The appointment comes seven months after Huang was named the bank’s interim head for APAC asset management in November. Huang, who joined the…
By Anna Ringstrom and Stine Jacobsen STOCKHOLM (Reuters) -The Swedish government will not inject new capital into SAS, its industry minister said on Tuesday, dealing a blow to the loss-making airline’s restructuring efforts and sending its shares down 14% to all-time lows. SAS said last week a restructuring plan announced in Feburary depended on it…
WASHINGTON (AP) — Wide-ranging bipartisan legislation unveiled Tuesday would regulate cryptocurrencies and other digital assets following a series of high-profile busts and failures. It’s unclear, though, whether the bill proposed by Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., can clear Congress, especially at a time of heightened partisanship ahead of midterm elections. The bill…
By Nivedita Balu (Reuters) – Elon Musk warned Twitter Inc on Monday that he might walk away from his $44 billion deal to acquire the social media company if it fails to provide the data on spam and fake accounts that he seeks. This was not the first time Musk had suggested publicly his acquisition…
BERLIN (Reuters) – Investor morale in the euro zone rose more than expected in June, the first increase after Russia’s invasion of Ukraine, a survey showed on Tuesday, as many companies have not yet felt as much impact from inflation and supply bottlenecks as feared. Sentix’s index for the euro zone rose to -15.8 points…
(Reuters) -Ted Baker said on Tuesday its preferred suitor will not make a takeover offer for the British fashion chain and that the company would now weigh other proposals received as part of the formal sale process, sending its shares tumbling nearly 19%. The London-listed group had put itself up for sale in April and…
