By Zhang Yan and Hyunjoo Jin SHANGHAI/SAN FRANCISCO (Reuters) – Tesla Inc’s China chief Tom Zhu and a team of his reports has been brought in to troubleshoot production issues in the United States, fueling talk among colleagues he is being groomed for a bigger role at a time when Chief Executive Elon Musk has been…
By Ananya Mariam Rajesh (Reuters) -Under Armour Inc on Wednesday named veteran hotelier Stephanie Linnartz as its chief executive, betting that her experience in e-commerce and branding strategy will help revive sales at the apparel maker. Linnartz, who will join Baltimore-based Under Armour on Feb. 27, will take over at a time when the company…
By Akash Sriram and Jane Lanhee Lee (Reuters) -Chipmaker Micron Technology Inc on Wednesday forecast a much steeper-than-expected second-quarter loss and said it will lay off 10% of its workforce next year, citing a nagging glut in the semiconductor market. “Due to the significant supply demand mismatch entering calendar 2023, we expect that profitability will…
(Reuters) -Under Armour Inc on Wednesday named Stephanie Linnartz as its chief executive officer, months after Patrik Frisk stepped down from the role, sending shares of the apparel company marginally down in extended trading. Linnartz currently serves as the president of Marriott International Inc and has been with the hotel chain operator in various roles…
By Arriana McLymore NEW YORK (Reuters) – With three days to go before Christmas, retailers across the United States and Europe face a turbulent end to a drawn-out, mostly disappointing holiday shopping season. Friday, Dec. 23, is slated to be the second-busiest U.S. shopping day of this year behind Black Friday, according to data firm…
PARIS (Reuters) – Airbus plans to deepen its industrial presence in India, Chief Executive Guillaume Faury said on Wednesday after meeting the country’s prime minister. “We will continue to support civil aviation growth and deepen our industrial footprint in India,” Faury said on Twitter alongside a photograph of his meeting with India’s Prime Minister Narendra…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The yen fell in a choppy session on Wednesday, ceding some of the ground gained the previous day when a surprise policy tweak by the Bank of Japan lifted the Japanese currency by 4% against the dollar. The BOJ decided to change its “yield curve control” policy on…
WASHINGTON (Reuters) – U.S. existing home sales slumped to a 2-1/2 year low in November as the housing market continued to be squeezed by higher mortgage rates. Existing home sales plunged 7.7% to a seasonally adjusted annual rate of 4.09 million units last month, the lowest level since May 2020, the National Association of Realtors…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose by more than $2 on Wednesday after data showed a larger-than-expected draw in U.S. crude stockpiles, but gains were capped by a snowstorm that is expected to hit U.S. travel. Brent crude futures for February delivery were up by $2.23, or 2.8%, at $82.22 a barrel by…
(Reuters) -Cinema chain AMC Entertainment Holdings said on Wednesday it was no longer in talks to acquire some theaters owned by now bankrupt Cineworld Group following initial discussions with some lenders. AMC said the earlier talks were focused on the acquisition of certain theater assets of Cineworld in the United States and Europe, which would…
