MUMBAI (Reuters) – India’s bigger retailer Reliance said on Thursday that had signed a long-term franchise deal with French fashion house Balenciaga, the latest in a flurry of deals the conglomerate has signed with high-end brands. Reliance Brands Ltd (RBL), a unit of the conglomerate that also runs India’s biggest retail chain, said in a…
WASHINGTON (AP) — More Americans applied for jobless benefits last week as the number of unemployed continues to rise modestly, though the labor market remains one of the strongest parts of the U.S. economy. Applications for jobless aid for the week ending July 30 rose by 6,000 to 260,000 from the previous week’s 254,000, the…
(Reuters) – Credit Suisse Group AG is discussing slashing thousands of jobs globally, Bloomberg News reported on Thursday, citing people familiar with the matter. The Swiss bank is expected to finalize plans over the next couple of months and is examining inefficiencies in its middle and back office, in addition to efforts to reshape its…
MOSCOW (Reuters) -Gazprom will receive 50% of a new Russian entity replacing the Sakhalin Energy liquefied natural gas (LNG) project, a government decree showed, as Moscow re-writes rules for foreign firms operating in the country amid sanctions. Western countries and allies, including Japan, imposed tough sanctions on Russia after it sent troops into Ukraine in…
(Reuters) – Eli Lilly and Co on Thursday cut its full-year profit forecast for the second time after reporting a near one-third slump in quarterly profit on Thursday, hurt by lower prices of insulin and competition for its cancer drug, Alimta. U.S. drugmakers have been pulled up by lawmakers in recent months over rising costs…
By Rowena Edwards LONDON (Reuters) -Oil prices were broadly steady on Thursday as the market weighed tight supply against demand fears, after a build in U.S. crude and gasoline stocks sent prices to multi-month lows in the previous session. Brent crude futures inched up 36 cents, or 0.37% to $97.14 a barrel by 0925 GMT,…
CANBERRA, Australia (AP) — Australia’s new government announced on Thursday it plans to prevent development of a coal mine due to the potential impact on the nearby Great Barrier Reef. Environment Minister Tanya Plibersek said she intends to deny approval for the Central Queensland Coal Project to be excavated northwest of the Queensland state town…
BEIJING (AP) — Taiwan canceled airline flights Thursday as China fired missiles near the self-ruled island in retaliation for a top American lawmaker’s visit, adding to the risk of disruptions in the flow of Taiwanese-made processor chips needed by global telecom and auto industries. China ordered ships and planes to avoid military drills that encircled…
By Satoshi Sugiyama TOKYO (Reuters) -Toyota Motor Corp’s profit slumped a worse-than-expected 42% in its first quarter as the Japanese automaker was squeezed between supply constraints and rising costs. Operating profit for the three months ended June 30 sank to 578.66 billion yen ($4.3 billion) from 997.4 billion yen in the same period a year…
LONDON (AP) — The Bank of England announced its biggest interest rate increase in 27 years on Thursday as it forecast that the war in Ukraine would fuel further inflation and tip the U.K. economy into a prolonged recession. Soaring natural gas prices are likely to drive consumer price inflation to 13.3% in October, from…
