By Ludwig Burger and Christoph Steitz FRANKFURT (Reuters) -Fresenius SE said its long-serving Chief Executive Stephan Sturm would quit, to be replaced by the head of its drugs unit, after the diversified group’s earnings were hit following the COVID pandemic and a surge in costs. Michael Sen, a former management board member of Siemens and…
SILVER SPRING, Md. (AP) — The chief executive who oversaw the rapid expansion of Ulta Beauty will take over as CEO of Foot Locker during a period of significant transition for the chain. Mary Dillon, one of only 31 women leading a S&P 500 company before stepping down as the top executive at Ulta early…
By Jamie McGeever ORLANDO, Fla. (Reuters) – Retail investors are back. In fact, they never went away. The recent rebound on Wall Street has been partly credited to strong buying by traditionally small-time ‘mom & pop’ investors. This investor base has changed dramatically in recent years, especially since the COVID-19 pandemic. The flourishing of social…
(Reuters) -The head of Myanmar’s central bank was replaced on Friday as part of a surprise reshuffle by the military junta which seized power in a coup last year, state media reported. Deputy Governor Than Than Swe, who was hospitalised after being shot by unidentified attackers at her home earlier this year, will now head…
MOSCOW (Reuters) – Russia’s state communications watchdog Roskomnadzor said on Friday that it was taking punitive measures against a string of foreign IT companies, including TikTok, Telegram, Zoom, Discord and Pinterest. In a statement, Roskomnadzor said that the measures were in response to the companies’ failure to remove content that it had flagged as illegal,…
(Reuters) – Online furniture retailer Wayfair Inc said on Friday it would cut about 870 jobs, or 5% of its global workforce, as it looks to bring down operating expenses and realign investment priorities. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Anil D’Silva)
(Reuters) – Deere & Co reported a rise in quarterly profit on Friday as higher equipment demand coupled with a robust pricing environment helped the world’s largest farm equipment maker to offset inflationary cost pressures. Gaps between the supply and demand for grains increased amid the Ukraine crisis while growing consumer demand spiked prices, putting…
Stocks are broadly lower on Wall Street in afternoon trading Friday, putting major indexes on track for losses that will end a solid run of weekly gains. The S&P 500 fell 1.3% as of 3:29 p.m. Eastern. The benchmark index is now on pace to break a four-week winning streak. The Nasdaq fell 2% and…
SHANGHAI (Reuters) – Chinese smartphone maker Xiaomi Corp posted a 20% drop in second quarter revenue on Friday, as the world’s biggest smartphone market shrank, hit by strict COVID restrictions. Xiaomi reported 70.17 billion yuan ($10.31 billion) in revenue for the quarter ended on June 30, down from 87.8 billion a year earlier but slightly…
By Shadia Nasralla LONDON (Reuters) -Oil prices slipped on Friday after two days of gains and are heading for weekly losses as a strong dollar and worries about a global economic slowdown weigh. Brent crude futures were down 97 cents, or 1%, at $95.62 a barrel by 0826 GMT. U.S. West Texas Intermediate crude was…
