PARIS (Reuters) – French food company Danone will shed control of its dairy food business in Russia, it said on Friday, adding that the deal could lead to a write-off of up to 1 billion euros ($978 million). Joining the lengthening list of global companies making costly exits from Russia over the war in Ukraine,…
By Tim Hepher LONDON (Reuters) – Airbus and Qatar Airways return to court on Friday as a contractual and safety dispute over A350 passenger jets descends into a tug-of-war over confidential documents while the sums at stake in their unprecedented falling-out top $1.5 billion. Qatar Airways is suing Airbus over damage to the painted surface…
(Reuters) -Royal Mail could cut as many as 5,000 to 6,000 jobs by the end of August next year, parent company International Distributions Services said on Friday, as the British company remains locked in a bitter dispute with its largest labour union. The Communication and Workers Union (CWU), representing 115,000 Royal Mail postal workers, have…
More worries about inflation helped spur a broad slide for stocks Friday that left most of the major indexes on Wall Street in the red for the week and wiped out much of the market’s gains from a strong rally a day earlier. A report showing U.S. consumers raised their expectations for future inflation hurt…
(Corrects headline to drop extraneous word ‘urgent’; no changes to text) (Reuters) – Dutch navigation and digital mapping company TomTom on Friday raised its 2022 outlook after better-than-expected third-quarter results driven by its location technology business. The Amsterdam-based firm, whose customers range from major car companies to leading global tech firms, forecast full-year revenue in…
BENGALURU (Reuters) – Shares of Indian IT major Infosys Ltd rose as much as 4.6% to a one-month high on Friday, after it raised revenue outlook and announced a $1.13 billion share buyback. The Bengaluru-based firm now expects 15%-16% revenue growth in the fiscal year ending March, compared with 14%-16% earlier. It reported a better-than-expected…
By Xinghui Kok, Anshuman Daga and Chen Lin SINGAPORE (Reuters) -Singapore tightened monetary policy as expected for the fourth time this year to combat inflation running near a 14-year high, and left the door open for further policy action as it warned of risks to the growth and price outlook. The move by the Monetary…
SINGAPORE (Reuters) -Singapore’s central bank on Friday tightened monetary policy for the fourth time this year to rein in inflation running near a 14-year high, and left the door open for further policy action amid upside risks to the price outlook and global uncertainty. The Monetary Authority of Singapore (MAS), at a scheduled policy meeting,…
By Marius Zaharia and Kevin Yao HONG KONG/BEIJING (Reuters) – American businessman Brody Shores’ furniture business in China grew on a model that leaned heavily on the promise of an enduring property boom and homebuyers desperate for fully furnished new apartments. Soon after launching in 2019, his company began selling directly to developers who decked…
By Leika Kihara WASHINGTON (Reuters) -Japan’s currency intervention last month to stop a sharp slide in the yen was likely a “signaling action” to smooth volatility, though the impact of such moves tend to be short-lived, a senior International Monetary Fund official said on Thursday. Recent volatile market moves heighten the need for the Bank…
