NEW YORK (AP) — Billionaire Elon Musk, who just took over as the chief executive at Twitter after buying the company, said he does not want to be the CEO of any company. Musk took the witness stand Wednesday in a Delaware court to defend himself in a shareholder lawsuit challenging a compensation package he…
WASHINGTON (AP) — Americans stepped up their spending at retailers, restaurants, and auto dealers last month, a sign of consumer resilience as the holiday shopping season begins amid painfully high inflation and rising interest rates. The government said Wednesday that retail sales rose 1.3% in October from September, up from a flat reading in September…
(Reuters) – TJX Cos Inc raised annual same-store sales forecast on Wednesday, as inflation-hit consumers turn to the discount store for affordable clothing and home decor items ahead of the crucial holiday season. Lower-income consumers have shown a preference for shopping at stores that offer products at cheaper prices as the United States stares at…
KYIV, Ukraine (AP) — The orders came from on high, from Ukraine’s president and one of his ministers: Get trains running again to the latest city newly retaken by our troops. “So literally: tanks, then trains,” said Ukrainian rail network boss Oleksandr Kamyshin, recalling the presidential instructions he received as the southern city of Kherson…
(Reuters) – Shares in U.S. retailers slid in premarket trade on Wednesday after Target Corp warned of a gloomy outlook for crucial holiday quarter sales and announced plans to save up to $3 billion in cost cutting to shore up profits. Target shares were forecast to open nearly 14% lower, dragging down other retailers. Macy’s…
LONDON (AP) — Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans Thursday. Consumer prices jumped 11.1% in the 12 months through October, compared with 10.1% in September, the Office for National…
NEW YORK (AP) — An unexpected and potentially ominous pullback in customer spending ahead of the holiday shopping season pushed third-quarter profits at Target down 52% after it was forced to slash prices with Americans feeling the squeeze of inflation. The Minneapolis retailer voiced caution about its sales and profit during the fourth quarter because…
By Amanda Cooper LONDON (Reuters) – Global stocks pared losses and the dollar fell on Wednesday after U.S. President Joe Biden told G7 and NATO partners that a missile blast in Poland was caused by a Ukranian defence missile, dispelling fears that it originated from Russia. Initial relief among investors was enough to encourage some…
By Josh Ye HONG KONG (Reuters) – Tencent Holdings on Wednesday reported a second straight quarterly revenue drop, as China’s economic slowdown and regulatory crackdown hit its ad and gaming businesses. Tencent, the world’s largest video game company and the operator of the WeChat messaging platform, said revenue fell 2% to 140 billion yuan ($19.8…
NUSA DUA, Indonesia (AP) — Members of the Group of 20 leading economies ended their summit Wednesday with a declaration of firm condemnation of the war in Ukraine and a warning that the conflict is making an already delicate world economy worse. The summit’s closing statement was noteworthy because world leaders managed to highlight a…
