MOSCOW/LONDON (Reuters) -Lego is closing its business in Russia indefinitely and laying off its 90 Moscow-based employees, owing to “extensive disruption” in the country, the Danish toymaker said on Tuesday. Lego has terminated its contract with franchisee Inventive Retail Group (IRG) which owned and operated 81 stores on Lego’s behalf. IRG, which also operated shops…
LONDON (AP) — London’s Heathrow Airport is capping daily passenger numbers for the summer and telling airlines to stop selling tickets as it steps up efforts to quell travel chaos caused by soaring travel demand and staff shortages. Britain’s busiest airport said Tuesday that it’s setting a limit of 100,000 passengers that it can handle…
BRUSSELS (AP) — The European Union on Tuesday removed the final obstacles to Croatia adopting the euro, enabling the first expansion of the currency bloc in almost a decade as the exchange rate fell to its weakest level against the dollar in 20 years. EU finance ministers approved three laws that pave the way for…
SHANGHAI (Reuters) – Chinese automaker Zhejiang Geely Holding on Tuesday unveiled a new electric pickup truck, targeting growing demand from city residents as coronavirus curbs fuel an interest in outdoor activities like camping. The Volvo owner also launched a new brand, RADAR, at an online event on Tuesday where it showcased its first pickup product…
(Reuters) – American Airlines Group Inc said on Tuesday it expects second-quarter revenue to rise by about 12%, compared with its earlier forecast of 11%-13% jump, at a time the aviation industry has been facing headwinds including high oil prices, inflation and staff shortages. (Reporting by Aishwarya Nair in Bengaluru)
(Reuters) – Discount retailer Dollar General Corp said on Tuesday its Chief Executive Officer Todd Vasos will retire and move to a special advisory role effective Nov. 1. (Reporting by Deborah Sophia in Bengaluru; Editing by Shounak Dasgupta)
JOHANNESBURG (Reuters) -South Africa’s largest food producer Tiger Brands said on Tuesday its fruit canning business would extend operations for a further season to save over 4,500 jobs, while it talks to possible buyers for the unit. The extension adds a bit of certainty about the future of the business, which was at risk of…
Stocks shed early gains and ended broadly lower on Wall Street Tuesday as investors brace for a big week of news on inflation and company earnings reports. The S&P 500 fell 0.9%, extending its losing streak to a third consecutive day. All of the benchmark index’s 11 company sectors closed in the red. The Dow…
By Selena Li and Julie Zhu HONG KONG (Reuters) -Wang Sheng, investment banking head of China International Capital Corp Ltd (CICC), is set to leave the bank to take over as chief executive of smaller peer China Galaxy Securities, six people with direct knowledge of the matter said. Wang, who has spent his entire career…
TOKYO (AP) — U.S. Treasury Secretary Janet Yellen and Japan’s finance minister agreed Tuesday to cooperate in dealing with challenges from the war in Ukraine and promoting free trade, sustainable energy and food security. Yellen was visiting Tokyo on Tuesday for talks ahead of a meeting of the Group of 20′s financial leaders on the…
