STOCKHOLM (Reuters) -Scandinavian airline SAS and unions representing pilots on strike will resume negotiations on Wednesday, Danish TV2 reported on Tuesday, citing a Swedish mediator. A SAS spokesperson could not immediately confirm. The carrier has been forced to cancel hundreds of flights since July 4 when talks with pilots over a new collective bargaining agreement…
Amazon is heading into its annual Prime Day sales event on Tuesday much differently than how it entered the pandemic. The company has long used the two-day event — one of its biggest all year — to lure people to its Prime membership, for which Amazon recently raised the price to $139 a year from…
By Xie Yu HONG KONG (Reuters) – Asian shares fell on Tuesday, weighed down by the prospect of further monetary policy tightening by central banks, China’s renewed COVID outbreak and Europe’s energy shortage, which also left the euro a whisker from parity with the safe haven dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan…
By Florence Tan SINGAPORE (Reuters) -Oil prices fell on Tuesday as fresh COVID-19 curbs in China, the world’s biggest crude importer, and fears of a global economic slowdown weighed on the fuel demand outlook. Brent crude futures for September fell $1.35, or 1.3%, to $105.75 a barrel by 0305 GMT, while U.S. West Texas Intermediate…
By Andrea Shalal TOKYO (Reuters) – The global price of oil could surge by 40% to around $140 per barrel if a proposed price cap on Russian oil is not adopted, along with sanction exemptions that would allow shipments below that price, a senior U.S. Treasury official said on Tuesday. U.S. Treasury Secretary Janet Yellen…
By Kevin Buckland and Rae Wee TOKYO (Reuters) – The euro hovered close to a 20-year low near parity to the dollar on Tuesday amid concerns that an energy crisis could tip Europe into recession, while the U.S. Federal Reserve continues to aggressively tighten policy to curb inflation. The single currency fell as low as…
By Svea Herbst-Bayliss, Anirban Sen and Arunima Kumar NEW YORK (Reuters) -Billionaire investor William Ackman, who had raised $4 billion in the biggest-ever special purpose acquisition company (SPAC), told investors he would be returning the sum after failing to find a suitable target company to take public through a merger. The development is a major…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks lost ground on Monday as a lack of catalysts left market participants warily embarking on a week back-end loaded with crucial inflation data and the unofficial beginning to second-quarter earnings season. Market leading growth stocks pulled all three major U.S. stock indexes into negative territory, with…
(Reuters) -Gap Inc said on Monday that Chief Executive Sonia Syngal will step down just over two years into the role, as the apparel seller wrestles with weak demand for its casual attire and a slump in its stock price. It also warned that margins would stay under pressure in the second quarter as costs…
(Reuters) – Gap Inc said on Monday President and Chief Executive Officer Sonia Syngal would step down from her roles. The apparel maker said the company’s current executive chairman, Bob Martin, will serve as interim CEO, effective immediately. (Reporting by Ananya Mariam Rajesh in Bengaluru; Ediitng by Devika Syamnath)
