LONDON (AP) — Unilever, the consumer goods giant that owns brands ranging from Ben & Jerry’s ice cream to Dove skin care, raised prices by more than 11% between April and June as inflation surged around the world. That shored up revenue in the first half of the year, with the London company on Tuesday…
DHAKA, Bangladesh (AP) — Business leaders and officials from eight developing nations meeting in Bangladesh on Tuesday said more cooperation was needed among them to overcome dwindling foreign currency reserves, a growing energy crisis and supply chain disruptions. Representatives from Egypt, Iran, Malaysia, Nigeria, Pakistan, Turkey and Bangladesh under the banner of D-8, or developing…
(Reuters) – Canada’s Shopify is laying off 10% of its workforce, or about 1000 employees, the Wall Street Journal reported on Tuesday, citing an internal memo. Shares of the company fell 6.6% in trading before the bell. Shopify did not immediately respond to a Reuters request for comment. (Reporting by Chavi Mehta in Bengaluru; Editing…
McDonald’s revenue fell short of expectations in the second quarter as coronavirus restrictions shuttered stores in China and higher prices took a toll on U.S. demand. The Chicago burger giant said its revenue fell 3% to $5.72 billion in the April-June period. That was short of Wall Street’s forecast of $5.8 billion, according to analysts…
By Ann Saphir WASHINGTON (Reuters) – Since it began its current round of interest-rate hikes this year, the U.S. Federal Reserve has aimed to let investors know ahead of time not just where rates are heading generally but exactly how big a move to expect each time. And despite some snags, including what analysts say…
The Coca-Cola Co. posted strong sales in the second quarter due to price increases and rising demand from restaurants, theme parks and other venues. The company also raised its revenue expectations Tuesday, saying that it now expects organic revenue growth of between 12% and 13% for the full year. That’s up from earlier projections of…
NEW YORK (AP) — The Rockefeller Foundation, created with wealth generated from the oil industry more than a century ago, plans to make the fight against climate change central to all of its work, including its operations and investments. In a public letter released Tuesday, foundation president, Dr. Rajiv J. Shah, acknowledged the “irony” that…
By Kate Abnett BRUSSELS (Reuters) -European Union countries approved a weakened emergency plan to curb their gas demand on Tuesday, after striking compromise deals to reduce the cuts for some countries, as they brace for further Russian reductions in supply. Europe faces an increased gas squeeze from Wednesday, when Russian’s Gazprom has said it would…
BERLIN (AP) — Lufthansa says it will have to cancel almost all flights at its main Frankfurt and Munich hubs on Wednesday because of a strike by its German ground staff, affecting tens of thousands of passengers in the latest travel turmoil to hit Europe. The airline said Tuesday that the strike will force the…
DETROIT (AP) — General Motors’ second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and drove the company’s U.S. sales down more than 15%. The Detroit automaker earned $1.67 billion from April through June, in part because it couldn’t deliver 95,000 vehicles because they were built…
